While the term “fiduciary” is a legal term with a long history, it very generally means someone who is legally obligated to act in another person’s best interests. Trustees, executors, and agents are all examples of fiduciaries. When you pick trustees, executors, and agents in your estate plan, you’re picking one or more people to make […]
When crafting an estate plan, an important component is the Financial Power of Attorney document. In a financial power of attorney [1], you designate a trusted decision maker (agent or attorney-in-fact) to act on your behalf if you become disabled or unable to manage your financial affairs. Depending on the provisions you choose to include, your agent […]
Although your death is probably a long way off, it is important that you have a plan to ensure that your affairs are settled in the way that you want. An estate plan crafted by an experienced estate planning attorney is a legally enforceable set of documents that allows you to name who will have the […]
When you think about how you want your property to be distributed after your death, most of the time it is easy to identify that property—your home, your cars, your jewelry, etc. But what about the genetic material used in assisted reproductive technology, such as frozen sperm, eggs, and embryos? Is genetic material stored with your […]
Cryptocurrency’s popularity has rapidly increased in recent years, with more people buying and selling it. Here are three things you need to know about cryptocurrency in relation to your estate plan. Beware of the Tax Consequences Transferring your cryptocurrency to other people, either during life or at your death, could have income, estate, and gift tax […]
A family office provides management services to a family whose businesses and wealth have become too complex and significant to manage by themselves. It often combines investment, legal, and tax services along with lifestyle and administrative services, such as making travel arrangements or coordinating the use of the family’s private aircraft. In addition to supporting and […]
The short answer to the title question is yes, your trust can own your business after you die. The longer legal answer is there are a number of considerations that may impact your trust’s ability to own a business after your death. One such consideration is the type of business interest you own. Is the business […]
According to the National Association of Home Builders, in 2018 there were approximately 7.5 million second homes, making up 5.5 percent of the total number of homes.[1] These pieces of vacation property are not only real estate that must be planned for, managed, and maintained, they are also the birthplace of happy memories for you and […]
