As we go through life, we often focus on building our wealth, providing for our loved ones, and planning for the future. However, one critical aspect that is often overlooked is planning for incapacity. None of us can predict when an unexpected accident or illness may strike, leaving Continue reading
As a single parent, you devote countless hours and endless love to raising your children. While your focus may be on their present needs, it’s crucial not to overlook planning for their future. It’s essential to take proactive steps to protect their well-being in the event of unforeseen Continue reading
As an estate planning attorney, I often see clients who are primarily concerned with planning for the distribution of their assets after they pass away. While this is certainly an important aspect of estate planning, there is another critical area that many people overlook—planning Continue reading
If you’re a middle-class individual with significant assets, you may be exploring estate planning strategies that can help you protect and pass on your wealth. One option that has gained popularity in recent years is the use of a SLAT, or a spousal lifetime access trust. In this blog Continue reading
It is important to let your estate planning attorney know if you own real estate that is subject to a mortgage. Most mortgages include due-on-sale clauses stating that the entire amount of the debt owed on the mortgage is immediately due and payable if the property is transferred. Continue reading
While it may not be pleasant to think about and plan for your death, failure to plan can cause unnecessary stress and grief for those you leave behind after you pass away. If you do not create an estate plan and update it regularly, you also expose yourself to stress and loss of peace Continue reading
Whether you are reviewing your existing trust or creating a new trust, you should understand the important role that a trustee plays, not only in handling trust matters but also in providing for and protecting your loved ones.
What is a trust?
A trust is an agreement between the trustmaker Continue reading
A will is a foundational estate planning document. Accompanied by other important documents such as healthcare and financial powers of attorney, it is a basic estate plan suitable for many. However, reports have shown for decades that fewer than 50% of US adults have a will. If you Continue reading
A comprehensive estate plan addresses not only what happens to your property and assets when you pass away, but how to take care of you and your affairs if you become incapacitated. Incapacity planning is not just for those in their older years. An accident or illness can happen at Continue reading
Would you like to provide your children or loved ones with an inheritance but protect them from the risks that may accompany their newly acquired assets? If so, you can create a beneficiary-controlled trust in which the person you name as the trust’s primary beneficiary has rights, Continue reading
Reaching retirement is a great milestone that is well worth celebrating. After many years of hard work, you can now focus your energy on the next phase of your life. However, before you begin this next chapter, you need to make sure that you have fully thought through this exciting Continue reading
Losing your spouse is one of the most difficult things you might face in life. While it is important to take time to grieve, there are some considerations following a spouse’s death that are time-sensitive.
If your spouse’s will or trust, or your joint trust, has a disclaimer provision, Continue reading
Myth #1: When I die, my partner that I am not married to can continue living in our home.
Fact: You must plan to allow your partner to continue living in your home. Some possible planning options include 1) placing your partner’s name on the deed, 2) executing a beneficiary deed, often Continue reading
Your retirement accounts may be one of the most valuable things you own. As is common, you may consider naming your children as beneficiary on such an account in case something happens to you. However, if you have minor children, there are some factors that make this type of transfer Continue reading
Life is full of possibilities. While some outcomes are relatively certain, other events are more difficult to predict. This uncertainty can create estate planning challenges. Because life changes quickly and sometimes unexpectedly, your estate plan needs to be flexible.
While you are Continue reading
One of the common challenges to a will or trust is that the person who made the will (the testator) or trust (the trustmaker or settlor) was not mentally competent to create it. While we would all like to believe that our family and loved ones will honor our wishes as expressed in Continue reading
A necessary, but not pleasant, aspect of estate planning is deciding what will happen to your child if both you and the child’s other legal parent were to die unexpectedly. While the odds of this happening may be low, the consequences of not naming a legal guardian in your will or Continue reading
What Is a Transfer-on-Death Deed?
If you own real estate, such as a home, in your sole name but you have not created a trust and transferred your property’s title to the trust, it is virtually guaranteed that your beneficiaries (or heirs) will have to deal with probate after your death. Continue reading
When someone has named you as the fiduciary in a will or trust (personal representative or trustee), when that person passes away you are obligated to distribute their money and assets to the beneficiaries who have been named in the document. Sometimes, perhaps because of a family Continue reading
Do you have any travel plans coming up? You may have decided what you and your travel companions want to see and do, how much you are willing to pay, and the time you plan to travel. While your travel arrangements may be set, you need to consider calling in a special planning team Continue reading
A big goal in estate planning is to make things easier for our loved ones. A comprehensive estate plan can allow your money, property, and legacies be transferred to your intended beneficiaries in a harmonious, stress-free, and fair process so that your loved ones to grieve and deal Continue reading
It isn’t necessarily an honor to be named in a person’s will as the personal representative or executor. While you can take some satisfaction that your loved one thought enough of you to trust that you could act in that position, the duty you have been given can often be a sobering Continue reading
If you own a small business, one of the many challenges you face is deciding what should happen to the business after your death.
For example, upon your death,
If you are a beneficiary of a trust and your trustee is unresponsive to your requests for information regarding the trust, what should you do? A trustee has a duty under the law to communicate with beneficiaries and keep them reasonably informed as to the progress of the trust administration. Continue reading
