We all know that a Last Will and Testament (Will) is an important thing to have. We want to make it easier for our families after we have died. But just having a Will often causes more problems than it solves. The problem is that it may not be enough; it could be putting your...
When a client is in the process of creating a trust, one of the first questions that comes up is “How should I choose my successor trustee?”. (Find out our answer in the previous article “How to Choose a Trustee” ). The follow-up question is usually if they should name co-Trustees to manage their revocable...
The long-awaited legalization of same-sex marriage was a welcome victory for the LGBTQIA+ Community and their allies. Even so, it is still quite common in the LGBTQIA+ community to have a long-time partner but never marry. If you have been sharing your life with a significant other but are not legally married, it is imperative...
As we wrap up estate plan document signings, there is often a sigh of relief from clients who say, “I’m so glad that is taken care of!” But before you check off your to-do list, there are a few steps you should take to ensure that your estate plan is ready for future action. 1....
You’ve just found out that you are going to receive an inheritance. A loved one or a friend has left you a bequest as part of their estate…what a wonderful gift. While it seems unlikely, there are situations where it makes sense for a beneficiary to not receive their inheritance. Why would someone do this...
When working with your estate planning attorney, you want to make sure you’re putting the right people in the right positions. Therefore, it’s important to understand the common terms for the players in your estate plan. Who does what in Estate Planning? Fiduciary: All persons or financial institutions (i.e. a bank or company) who act...
The loss of a loved one is one of the most difficult things to go through in life. After the grief subsides, deciding if the person’s estate must be probated is confusing, time consuming and expensive. Avoiding probate will move the estate distribution much faster to the heirs, so many often wonder if probate is...
In most families, parents choose to leave their estate equally to their children. But sometimes, parents intentionally choose to disinherit a child and cut them out of their estate completely. You may have, what you believe to be legitimate reason to do this: one child is more financially successful than the others; not wanting a...
With an estimated 40 million Americans 65 years or older, our nation is growing older, living longer, and we have fewer resources for long-term care. As we age, we often face a broad range of complex legal concerns. The importance of planning for one’s future needs is essential. What is Elder Law? An Elder Law...
A Living Trust, (more formally referred to as Revocable Living Trust or Revocable Trust) holds your assets in trust for your use and benefit during your lifetime; and it gives clear direction on how those assets will be distributed upon your death. One of the prime advantages of a Living Trust is that it can...
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