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 divorce, civil judgment, and creditors. One possible way to accomplish this is to use a DAPT - 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 place for your circumstances to...
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 what is the right trust for you? Consider Your Goals...
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...
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...
When a friend or loved one asks us to do something, we often say yes without giving the request any deep thought. But some requests carry with them responsibility and even potential liability, like being named an agent in a durable power of attorney or the trustee to a trust. If you’re thinking of agreeing to...
For some clients, the thought of legacy extends beyond the confines of family. Donating time and money to community charities is one way to do that. An estate planning tool – the charitable remainder trust – allows people to donate while still retaining some important benefits. A Most Useful Tool – the Charitable Remainder Trust. An...
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