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The key benefit of a common trust is flexibility. You are giving the trustee the same spending discretion that you currently exercise. They have the authority to manage money for the family in the same way you would. This is not only a heavy burden for the trustee but a ...
Estate planning can be a very difficult process. This difficulty prevents people from making progress with their estate. Others talk themselves out of seeing a qualified attorney to create an estate plan because of the following common myths:
Although having a will is a good basic form of planning, a will does not avoid probate. Instead, a will simply lets you inform the probate court of your wishes—your loved ones still have to go through the probate process to make those wishes legal.
In estate planning circles, the word “probate” often carries a negative connotation. That being said, the probate system was ultimately established to protect the deceased’s accounts and property as well as their family, and in some cases, it may even work to an advantage. Let us look briefly at the ...
Some of the most common life events can have a dramatic effect on your estate plan. Let us take a look at some common life changes and the impact they may have on your already established estate plan.
Creating an estate plan is a personal and often emotional undertaking, making the selection of your estate planning attorney of the utmost importance. Here are some questions you should ask your estate planning attorney to determine if they are the right person for the job. Why did they pick estate ...
When it comes to ensuring that your home passes to the individual or group that you intend, there are a variety of ways to legally make that happen.
With couples of similar ages, planning for the future is naturally a joint effort. However, if you are married to someone who is significantly older or younger than you, the future can look different and mean different things to each of you.
Trusts are typically set up for the benefit of a trustmaker’s loved ones, a charitable organization, or a third party, with the trust money and property being distributed to the beneficiaries upon the trustmaker’s death.
While it is an honor to be named as a trusted decision maker, also known as an executor or personal representative, in a person’s will, it can often be a sobering and daunting responsibility.
