Category: Trusts
“In other words, family members who are not named to inherit anything in the will may still see the list of all of the assets. If you don’t want that result, you can avoid it by establishing a trust.” Privacy is just one of the benefits of having a trust created as part of an […]
“I am named successor trustee in my parents’ trust. When the time comes, how do I sell the home and the other assets?” This is a common concern of people when they learn they have been named as a successor trustee, says nwi.com in the article “Estate Planning: The role of a successor trustee“. The […]
“When the first spouse dies, the surviving spouse may not remain as close with his or her stepchildren. Small irritations which were overlooked during the lifetime of the spouse who died, may become outright disputes.” Estate planning for blended families is like playing chess in three dimensions: even those who are very good at chess […]
“Estate planning sounds like you need to be of nobility and own country estates before it applies to you. However, estate planning only means that you are making a plan for when you pass away or are no longer able to make good decisions for yourself.” If you switch the term “estate” for “stuff,” maybe […]
“Every adult should have a will in order to determine property distribution after death. However, a will is limited in what it can do. Too often, a will cannot accomplish what you need or even expect it to do.” A last will and testament is an important part of an estate plan, and every adult […]
“One of the most frequent questions asked in estate planning is whether a will is really necessary, particularly when someone has taken steps to avoid the probate process.” A will, also known as a last will and testament, is one of three documents that make up the foundation of an estate plan, according to The […]
“Taking care of these key tasks properly limits the potential for family turmoil and possible legal battles should you become incapacitated, as well as after your death.” Estate planning is a critical part of financial planning, but it is something that many Americans prefer to procrastinate about. However, drafting a will, health care proxy, and […]
“We all have witnessed how children have a difficult time understanding why one sibling was treated differently. To overcome this, parents will make the well-intentioned mistake that fair and equal are the same.” What may work fine when you are raising children does not always work in estate planning, as reported in The Press Enterprise’s […]
“In their trust they leave each other their share upon death and then I would be trustee when my last parent dies. I’m really concerned about this whole deal.” A son has contacted an elder law estate planning attorney now that mom is in a nursing home and he’s unsure about many of the planning […]
Is it true that wealth lasts for many generations? The real root to accumulating and transferring wealth is through supporting education, helping in the purchase of a home or in getting married, according to Fast Company in “5 lies you’ve been told about generational wealth“. Here are a few commonly held misconceptions about generational wealth: […]
