Estate Planning

Estate Planning to Protect Yourself and Your Loved Ones

Posted on: June 27th, 2022
Without a plan, you and your family could be subject to your state’s default or intestate succession law....

Can a Trust Own My Business after I Die?

Posted on: June 21st, 2022
There are a number of considerations that may impact the answer to this. One consideration is the type of business interest you own. ...

Don’t Have a Lot of Money? Here Are Seven Ways You Can Still Leave Your Family a Great Legacy

Posted on: June 14th, 2022
Estate planning is more than making sure a person’s wealth passes to the next generation....

Estate Planning Lessons We Can Learn from Encanto

Posted on: June 3rd, 2022
You can use your estate plan to benefit the world around you. ...

Dutiful Child or Manipulator of the Elderly?

Posted on: May 25th, 2022
Up to one-half of all elder abuse in the United States is financial exploitation....

Silent Trusts: Could I Be the Beneficiary of a Trust and Not Know It?

Posted on: May 18th, 2022
After a trust has been created, the trustee has certain legal duties to the beneficiaries....

If I Give My Home to My Child in My Will, Can They Take My Home While I Am Still Alive?

Posted on: May 13th, 2022
When it comes to real property such as a house, the person who has title to (or legal ownership of) the property controls the property....

Does a Domestic Partner Have the Same Rights as a Spouse When It Comes to Estate Planning?

Posted on: May 9th, 2022
To a large extent, the state in which you live, and maybe even the city or county, determines domestic partners’ rights....

Three Steps to Take When the Deceased Has Controlled Substances

Posted on: May 4th, 2022
There are so many loose ends to tie up after a loved one has passed away. Following these three simple steps for disposing of controlled substances will ensure that you have done your part to keep your family and community safer....

What to Know about Nonfungible Tokens

Posted on: April 29th, 2022
When it comes to NFTs, confusion and excitement are present in equal parts....

When a Gift May Not Be a Gift

Posted on: April 27th, 2022
The federal tax code has very specific rules about how much you are allowed to transfer to others each year—and over the course of your lifetime—in the form of a gift....

Electronic Wills

Posted on: April 25th, 2022
Under established law, a will is generally not valid unless it is in writing, signed by the will maker and witnessed by two other people. ...

How to Protect Yourself from Claims of Self-Dealing When Serving as a Trustee

Posted on: April 18th, 2022
Self-dealing happens when a trustee uses the trust’s assets for their own benefit instead of for the beneficiaries’ benefit....

Using Beneficiary or Transfer-on-Death Deeds

Posted on: April 14th, 2022
If you own real property, 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....

Springing Financial Powers of Attorney

Posted on: April 6th, 2022
A good estate plan should also consider the unexpected. Your plan may have detailed instructions for what happens when you are no longer around, but what if something goes wrong while you are alive?...

Statements of Intent or Purpose in Estate Planning Documents

Posted on: March 31st, 2022
Your intent or purpose for creating a trust can also have significant legal ramifications. It is often critical that you express in writing your purpose for creating the trust....

Changes to the FAFSA Form and What It Means for Grandparents

Posted on: March 15th, 2022
For grandparents who want to leave a legacy to their grandchildren, the gift of a 529 college savings plan is an option. ...

Marital Disclaimers and the Clayton Election: Last-Minute Estate Tax Planning

Posted on: March 2nd, 2022
Deferring, minimizing, or avoiding estate taxes altogether is often an important estate planning goal for married couples. ...

Common Trusts: Parenting beyond the Grave

Posted on: February 18th, 2022
When setting up an estate plan, you are acknowledging the unpleasant possibility—no matter how remote—that you may not be around to care for your minor children while they are growing up....

QTIP Trust - Will My Spouse Get What They Need?

Posted on: February 14th, 2022
A qualified terminable interest property (QTIP) trust is an estate planning tool that married couples can use to minimize uncertainty about the future and maximize certain tax advantages....

Pour-Over Will: Not Your Average Will

Posted on: February 11th, 2022
You can have both a will and a trust, and in fact, a special kind of will—known as a pour-over will—is commonly used alongside a living trust. ...

Using Real Estate Deeds in Estate Planning

Posted on: February 8th, 2022
An important question arises regarding the type of deed that should be used for transferring real property into the trust’s name....

All Good Things Must Come to an End: Reasons a Trust Might Terminate

Posted on: February 4th, 2022
While trusts can stretch across generations and keep valuable money and property within a family, every trust, at some point, will end....

Untangling Tangled Titles: Homeownership, Property Deeds, and Estate Planning

Posted on: January 18th, 2022
A tangled title negatively impacts a property’s current occupant in a number of ways. ...

Slayer Statutes: Preventing Killers from Profiting from Their Crimes

Posted on: January 10th, 2022
Most states have laws that prevent someone who has intentionally killed another individual from being able to inherit any property from their victim....

Qualified Personal Residence Trust: What Is It and When Should You Consider One?

Posted on: December 15th, 2021
A QPRT is a specific type of irrevocable trust that is designed to own a taxpayer’s personal residence. If a QPRT is designed and implemented correctly, it offers the taxpayer a number of benefits...

Are Family Limited Partnerships under Attack?

Posted on: December 8th, 2021
In an estate planning context, FLPs are often created when a parent or parents own property want to begin the process of transferring to their children for transfer tax purposes....

Protecting the New Athletic Superstars

Posted on: December 2nd, 2021
It is a new era for college student athletes, who can now (as of July 1, 2021) profit from their name, image, and likeness (NIL)....

Mental Health Considerations in Estate Planning

Posted on: November 23rd, 2021
Estate planning is a sensitive subject and it can be even more sensitive when the issue of mental health is involved....

Should You Consider a Life Estate for Your Home?

Posted on: November 12th, 2021
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. ...

Decanting: Redoing Your Loved One’s Estate Plan

Posted on: October 27th, 2021
Trust decanting is a powerful tool that can remedy situations that might otherwise create significant problems. ...

Why Is Joseph P. Kennedy Named in My Trust?

Posted on: October 22nd, 2021
The rule against perpetuities (RAP), a common trust provision often referred to as a “savings clause,” comes from a somewhat arcane rule that originated centuries ago in English trust law....

Why You Might Want to Go through Probate

Posted on: October 16th, 2021
Probate can be simply defined as the court-supervised process of distributing a deceased person’s money and property...

Trust Funding: Is Everything Titled Correctly?

Posted on: October 7th, 2021
Just getting the document drafted and signed is not enough. For any trust to be effective, you must complete the process of funding your trust as soon as you can. But what exactly is funding?...

What if I Can Find Only Photocopies or Digital Copies of My Estate Planning Documents?

Posted on: October 1st, 2021
What happens when the bank, title company, or court requests your original legal documents, and no one can find them?...

Britney Spears: A Cautionary Tale about Conservatorships

Posted on: September 22nd, 2021
A conservatorship is an extreme step and should be approached with great caution—an individual’s liberties are at stake....

Important Questions Your Estate Planning Attorney Will Ask You

Posted on: September 10th, 2021
We are here to reassure you that estate planning is not as scary as so many people think it is....

Disaster Preparedness Month: How to Prepare for Whatever May Come Your Way

Posted on: September 1st, 2021
September is National Disaster Preparedness Month. Although none of us can predict the future, there are some things you can do to ensure that you and your family are ready. ...

What Is a Separate Revocable Living Trust?

Posted on: August 30th, 2021
A trust is a legal concept that allows an individual to transfer ownership of their accounts and property to a trustee who has a legal obligation to use that property for the benefit of a beneficiary....

Basis: What You Need to Know

Posted on: August 23rd, 2021
“Basis” is a term used frequently in tax law. ...

Trust and Estate Administration: Whom Should You Bring to the Meetings?

Posted on: August 17th, 2021
Though it is not legally required, you may choose to involve other family members in your meetings with the attorney....

How Can Remarriage Affect Your Estate Planning?

Posted on: August 10th, 2021
If you or someone named in your estate planning documents has remarried, there are several major issues that you should be aware of as well as steps you should take to ensure your estate planning continues to be appropriate for your current situation....

When You May Not Be Able to Use a Financial Power of Attorney

Posted on: August 6th, 2021
When you sign a financial POA, you grant the person you designate, known as an “agent” or “attorney-in-fact,” the legal authority to manage your financial matters, including banking transactions, real estate transactions, investments, gift giving, and paying bills....

What Happens to Your Digital Movies When You Die? (Hint: Read the Fine Print in the User Agreement)

Posted on: August 2nd, 2021
When it comes to digital movies, “ownership” is not quite what it seems...

The Difference Between a Prenuptial Agreement and a Will or Trust

Posted on: July 29th, 2021
Wills and trusts are no longer reserved only for those with substantial wealth. Having a will or a trust is just something responsible people do. ...

Can a Beneficiary Also Be a Trustee of a Trust?

Posted on: July 26th, 2021
The short answer is yes, a beneficiary can also be a trustee of the same trust—but it may not always be wise, and certain guidelines must be followed....

Successor Trustee Compensation

Posted on: July 19th, 2021
If you have not specified in a will or a trust whether, or how much, the fiduciary should be compensated for their services, most state laws have addressed the question....

Living, Testamentary, and Constructive Trusts: Are They All the Same?

Posted on: July 15th, 2021
The concept of trusts is an area within estate planning that can create a great deal of confusion for people unfamiliar with the law....

Why Is My Trust So Long?

Posted on: July 8th, 2021
Creating a comprehensive plan for your future involves numerous different and critical elements. ...

Can a Disabled Individual Be an Executor or a Trustee?

Posted on: June 30th, 2021
In general, a disabled individual can serve in any of these fiduciary roles as long as their disability does not materially interfere with their ability to carry out the legal responsibilities and duties imposed on them by law....

Types of Life Insurance and How They Can Be Used in Estate Planning

Posted on: June 23rd, 2021
The right kind of life insurance, when properly understood and carefully coordinated with your estate planning, can provide significant economic benefits and peace of mind for you and your loved ones should you pass away sooner than expected....

To Have, but Not to Hold? Common Law Marriage and Estate Planning

Posted on: June 23rd, 2021
As society evolves, how we identify marriage in our society also changes....

Simultaneous Deaths: What If My Spouse and I Die at the Same Time?

Posted on: June 18th, 2021
The chances of a married couple dying in a common accident or within a very short time of one another are probably quite slim. ...

What Are the Rights of a Child Born Outside of Marriage?

Posted on: June 8th, 2021
If you are a nonmarital child or have a nonmarital child, it is essential to understand how rights to inherit are formed and defined....

Selling a Deceased Loved One's Real Estate: Things You Need to Know

Posted on: June 2nd, 2021
After the death of a loved one there are a variety of tasks that must be handled to wrap up your loved one’s final affairs. ...

Options for Establishing and Transferring Your IRA to a Loved One

Posted on: May 26th, 2021
By far the most common way to leave your IRA at your death is to simply name those whom you want to receive your account as beneficiaries on the plan’s beneficiary designation forms....

National Home Remodeling Month: Can I Remodel My Own Estate Planning Documents?

Posted on: May 18th, 2021
According to the National Association of Home Builders, May is National Home Remodeling Month. Perhaps, however, your home is fine as is and you need a remodeling project for something other than your home. Estate planning is one area that often goes unexamined and neglected. Is it time to remodel your estate plan? ...

Options for Establishing and Transferring Your IRA to a Loved One

Posted on: May 12th, 2021
Americans are using a variety of tax-deferred accounts to save for retirement. Many people are unaware that there are numerous options for transferring these types of accounts to their loved ones....

Defining “Fair Market Value”: The Case of Wilburn v. Mangano

Posted on: April 30th, 2021
When reading through a will or trust agreement, you may see language that grants a right to an individual to purchase certain property from the estate or trust at “fair market value.” ...

Do I Have to Leave Anything to My Children?

Posted on: April 26th, 2021
You can disinherit a child under most states’ laws, but you must understand the limitations and additional factors if you are considering this option....

Handling the Legal Affairs of a Missing Person

Posted on: April 13th, 2021
Approximately 600,000 people go missing in the United States each year.[1] The loved ones who are left behind must carry not only heavy emotional burdens but significant practical burdens too. ...

It’s All in the Family: Understanding Common Legal Terms That Describe Loved Ones in Estate Planning

Posted on: April 12th, 2021
Using the correct terms is critical in wills, trusts, and other legal documents because words have significant implications. The wrong word can lead the courts to incorrectly interpret your documents and therefore cause an unintended result. Here are a few commonly confused words, their proper meanings, and some usage scenarios....

How to Talk to Mom and Dad about Creating an Estate Plan

Posted on: April 5th, 2021
Once you understand the consequences of not having those conversations, the next question is how do you raise the issue with your parents? ...

Estate Tax Returns—Not as Scary as They Sound

Posted on: March 30th, 2021
When an individual passes away, tax issues are one of the many things that must be considered....

What to Know If Your Deceased Loved One Owned Firearms

Posted on: March 23rd, 2021
When you are handling a deceased loved one’s final affairs, you must consider the chance that your loved one owned one or more firearms at the time of death....

What You Should Know about Life Insurance Settlements

Posted on: March 19th, 2021
When an insured party sells a life insurance policy to a third party investor, the transaction is called a life settlement....

What If No One Wants My Stuff?

Posted on: March 12th, 2021
A critical question to ask yourself when creating an estate plan is who will get your stuff when you pass on? ...

Ways to Leave Your Real Estate to Your Loved Ones (and the Pros and Cons)

Posted on: March 8th, 2021
Failing to understand how you legally own your real estate and how it will be passed on to your loved ones can lead to unintended, and often negative, consequences....

What If I Can't Find My Loved One's Documents?

Posted on: March 3rd, 2021
If a loved one has recently died or become mentally incapacitated, finding the person’s estate planning documents is essential. ...

Including Noncitizens in Your Estate Planning

Posted on: February 24th, 2021
Estate planning law is already complex—adding international legal issues to the mix can exponentially increase that complexity....

Third-Party Supplemental Needs Trusts

Posted on: February 8th, 2021
If you want to provide for a loved one who is disabled or has special needs when you are no longer here, care must be taken to ensure that the inheritance you leave will help rather than harm your loved one...

My Loved One Has Died: As an Heir or Beneficiary, Do I Need an Attorney?

Posted on: January 21st, 2021
You just found out that your favorite aunt has died. You receive a notice from the attorney handling her affairs stating that you are a beneficiary. Your best friend advises you to get an attorney. What should you do? ...

Handling the Legal Affairs of an Estranged Noncitizen Spouse at Death

Posted on: January 19th, 2021
One of the first questions that must be answered is which country’s laws will apply with respect to inheritance, division of property, child custody, and taxation....

Should You Own Your Timeshare in Your Trust?

Posted on: January 15th, 2021
Owning timeshares can provide significant benefits for those committed to using them regularly and who know how to maximize the value for themselves and their families. ...

Can Dual Citizenship Ruin Your Estate Plan?

Posted on: January 13th, 2021
Any US citizen with dual citizenship must be prepared to carefully consider a variety of complex legal issues when planning for death. This is particularly true if the dual citizen owns property in one or both countries....

The Recipe for a Satisfying Estate Plan

Posted on: January 11th, 2021
Misconceptions about who needs an estate plan abound....

You Inherited a Retirement Account: Now What?

Posted on: January 8th, 2021
It has become critically important for families to understand both the laws applicable to wills and trusts and the complex laws governing retirement plans....

Choosing a Corporate Trustee

Posted on: December 31st, 2020
The role of a trustee is complex and involves a wide variety of skills and mindsets. Trustees must operate in the best interests of the beneficiaries. ...

What to Do When a Loved One Dies Abroad

Posted on: December 29th, 2020
The death of a loved one can be one of the most disorienting life events. But if the loved one dies while traveling in a foreign country, the emotional and bureaucratic burdens can multiply exponentially....

What to Do When a Child Dies

Posted on: December 23rd, 2020
No one can ever prepare for the cascade of challenges that come with the death of a minor child. Not only are there legal and financial challenges that you must deal with, but all of these challenges come at a time of deep emotional crisis....

Can an Estate Plan Include a Right of First Refusal on Certain Property?

Posted on: December 21st, 2020
A ROFR is a useful legal tool to ensure that certain types of property end up in the hands of those who value them most while balancing a family’s desire to fairly distribute accounts and property among other loved ones. ...

A Tale of Two Celebrities: Chadwick Boseman and Eddie Van Halen

Posted on: December 15th, 2020
With a celebrity’s passing, we realize that death is an equalizer. It also reminds us of the importance of estate planning to protect a person's money and property. ...

All in the Family: Making Sense of Per Stirpes, By Representation, and Per Capita Distributions

Posted on: December 10th, 2020
The notion of fairness often pervades family dynamics and may continue even beyond death when decisions about dividing accounts and property arise. ...

How Refinancing a Property Can Affect Your Estate Plan

Posted on: December 7th, 2020
One often overlooked consideration is the impact that refinancing your home could have on your estate plan....

Deeper Dive into Advance Healthcare Directives

Posted on: October 23rd, 2020
When it comes to your healthcare, especially during these uncertain times, you need to ensure that two estate planning documents in particular are up to date. ...

Estate Planning After Personal Injury Settlements

Posted on: October 5th, 2020
A sudden and large infusion of cash can be overwhelming to an individual and the individual’s family, and without sound legal planning, can be lost or mishandled....

Conservation Easements: Preserving a Heritage With Tax Benefits

Posted on: October 1st, 2020
In general, a conservation easement is a tool used to protect natural resources....

What Happens If My Beneficiary Dies Before Me?

Posted on: September 28th, 2020
Sometimes a beneficiary of an estate or trust dies before the person leaving the inheritance. If this has happened to you, you may be wondering what is next. How does this event impact your original plans?...

Disaster Preparedness Month: How to Prepare for Whatever May Come Your Way

Posted on: September 18th, 2020
Because September is National Disaster Preparedness Month, we want you to be prepared for whatever life throws at you. ...

Why Your Heirs or Beneficiaries May Receive a Smaller Inheritance Than You Thought

Posted on: September 10th, 2020
The effort that you put into planning your estate today can have a significant impact on how much of your money and property end up in the hands of your heirs or beneficiaries. ...

Seven Ways to Avoid Family Fights over Your Property

Posted on: August 31st, 2020
Far too many families end up fighting, or at least experiencing tension, over a family inheritance. But it does not have to be that way....

How Do I Donate My Organs When I Die?

Posted on: August 12th, 2020
Organ donation is one of the most regulated aspects of the healthcare industry, and the legalities have very unique considerations. ...

Avoiding Financial Grief: How to Protect Your Significant Other from Frozen Accounts

Posted on: August 5th, 2020
The death of a loved one is one of the most difficult times in a person’s life. Nothing can truly prepare a person for such a loss. However, dealing with the financial stress of frozen bank accounts can exacerbate the stress....

Help! I’ve Been Named as a Guardian. What Do I Do?

Posted on: July 24th, 2020
Being a guardian is an important responsibility. If a family member or friend wishes to name you as a guardian for a child, it is important to seriously consider whether you have the time, patience, and ability to take on this role. ...

Sandwich Generation Month: Considerations When Caring for Both Children and Parents

Posted on: July 17th, 2020
If you have the documents necessary to know and carry out your parents’ or child’s wishes for their care, regardless of the situation, you can rest assured that they will receive the care they desire. ...

Summer Vacation Plans? Precautions and Preparations to Consider

Posted on: July 13th, 2020
After months of near confinement in our homes, many of us are stir-crazy and eager to travel to a vacation destination. Although more states are opening up, there are several precautions to consider and preparations to make as you plan your summer travels....

Why Your Marital Agreement Should Be Shown to Your Estate Planner

Posted on: July 6th, 2020
If you and your spouse have a marital agreement, it is crucial for you to provide a copy of it to your estate planning attorney to avoid conflicts between provisions in your estate planning and the marital agreement....

Kids Going Away To College? Why You Should Include Estate Planning in the Preparation

Posted on: June 30th, 2020
How can you make sure your kid is going to be safe at school, so far away from home? There is something, probably not yet on your to-do list, that absolutely can make all the difference. Bring your child to a local estate planning attorney. ...

Legal Requirements to Consider When Selecting an Executor

Posted on: June 29th, 2020
The person you choose to be your executor (sometimes called a personal representative) will play an extremely important role, as that person will be responsible for gathering, securing, managing, and ultimately distributing your money and property when you pass away....

How to Handle Savings Bonds in Estate Planning and at Death

Posted on: June 22nd, 2020
There are several estate planning issues you should keep in mind if you have savings bonds or plan to invest in them....
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