If you have created a trust that you intend to last for decades, choosing the right trustee is critical to ensuring the trust’s longevity and ultimate success. Initially, you may think that a relative (for example, Uncle Bill to your children, who are the initial beneficiaries of your trust) will be the best choice as trustee. […]
When somebody close to us passes away, we are left with constant reminders of the memories. Maybe it is a jacket hanging in the closet that still bears the scent of their cologne, a dog-eared book on their nightstand, their handwriting on a scrap of paper, a bench where they sat and fed the ducks, or […]
Many estate plans contain revocable living trusts (or trusts which can be changed or terminated by the creator). These trusts later become irrevocable (cannot be easily changed or terminated) when the trustmaker, also known as the Grantor, dies. Such trusts may benefit the surviving spouse during their lifetime and may continue for the benefit of several […]
In many families, everyone gets along, happily gathering for the holidays, sharing laughs, telling stories, and enjoying each other’s company. Then the matriarch or patriarch becomes incapacitated. Suddenly everyone wants to step forward to be the loving, responsible relative. Questions of who will be the primary decision-maker for grandma or grandpa can lead to tension. If […]
If you were to ask any estate planning attorney the most commonly stated goal of their clients, the answer will usually be “I want things to be easy for my family.” It is an understandable goal, and one that an estate plan can usually help achieve. However, fighting over provisions in your will or trust can […]
Estate planning is an exercise in anticipating potential future events that could affect your plans for what happens if you become incapacitated (unable to manage your own affairs during your lifetime) and how your assets (property and accounts) will be handled after your death. Most folks will say the more prepared, the better. But when it […]
A home is often one of the most important assets that people own. Therefore, most people want to stay in their home until they die and then have a loved one receive it. One common way to pass a home to loved ones is through a will. However, transferring real property with a will requires probate. […]
Approximately three-fourths of Americans do not have a basic will.[1] Many of the same people also have children under the age of 18, which underscores a major misunderstanding about estate plans: They can accomplish much more than just handling financial assets (money, accounts, and property). One of the most important estate plan functions for parents of […]
