In her long and illustrious career, Aretha Franklin hit many milestones:  first female artist inducted into the Rock and Roll Hall of Fame, winner of 18 Grammys and a host of chart-topping albums and singles. When she passed away on August 16, 2018, she was added to the long list of celebrities who failed to leave...
People come to estate planning with different goals, different estate problems, and different family circumstances. Some people have very simple estates that require very simple estate planning while others need advanced planning. Trusts are a common estate planning tool. If you are unsure how a living trust might help you, read on to learn eight reasons...
You may wish to protect your property from divorces, civil judgments, and creditors. One possible way to accomplish this is to use a Domestic Asset Protection Trust. However, only a handful of states allow this type of trust, and their laws vary. It’s important to research the best places to establish a Domestic Asset Protection Trust...
Estate plans should include a Last Will and Testament, a durable power of attorney, and a medical power of attorney. Some people also prepare other documents, like a Living Will or a trust. But, when you start working on your estate plan, how will you know which trust is right for you? Consider Your Goals People...
Mary wanted her children to benefit from the comfortable net worth she had built. Fortunately for them, she consulted with an estate planning attorney. She considered setting up trust funds for her children but was unsure how to handle the payouts:  outright or through staged withdrawal rights? First, What Does ‘Staged Withdrawal Rights’ Mean? Trust assets...
Ella C. lived a long life, blessed by her family and her beloved pets. At the time of her death, two pets lived with her: Lucy, her 10-year-old Labrador Retriever, and Thor, a 2-year old Russian Blue cat. Her children knew their mother loved and pampered the animals, but they had no idea what to do...
Edward N. faced a dilemma while preparing his estate plan. He needed to name someone to serve as trustee of his family trust. Fortunately, he had several close friends and family members who might be suitable. However, he had trouble choosing one over another. Edward wondered what qualities his trustee should possess. The first thing Edward...
Janet and Bobby G. were living in Texas when they started their life together as man and wife. After 20 years, they moved to Florida. As a married couple living in Texas, most of their assets were considered community property, but Florida is not a community property state. As new Florida residents, they needed to explore...
Walter had accumulated a modest fortune during his years as a successful businessman. As he looked ahead toward retirement, his estate planning attorney suggested some options that might provide him with an income. They considered several strategies, including buy-sell agreements and trusts. Walter was most interested in a GRAT. What is a GRAT? GRAT is an...
There’s more than one way to own property. Most people, though, just own it outright. Their name shows up in the county deed records for all to see. What if there was another way to own property, a way that may offer more privacy and protection? Read on to learn more about the benefits gained by...