Do you want to ensure your loved ones are cared for after you die? If so, you should consider setting up trusts. Trusts can help you avoid probate and provide financial security for your loved ones. What are the benefits of trusts, and how do you set them up? What...
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Month: July 2020
Can your beneficiary’s creditors seek compensation from your trust?
When you started planning for the future, one of the first things you did was set up a trust for your child. You wanted to make sure that they’d have money to support themselves and invest in the future, so you set aside some each month for several years. Then, you...
Is a transfer on death deed the right solution for your home?
Your house is worth thousands of dollars, so it is not an asset that you want to lose control of while you're still alive. On the other hand, you don't want your family members to experience a long-term legal limbo during which they cannot use the property. If your...
Do you believe a trustee has violated their fiduciary duty?
If a family member created a trust for their estate, they may have wanted to limit how you use your inheritance or to protect their property from tax liabilities. The trustee assigned to manage trust assets and distribute them to family members will have a challenging...
Will your estate require ancillary probate proceedings?
Whether you have a lakeside cabin up in Wisconsin, a vacation home in Colorado or one of your kids is living in your old condo in Brooklyn that you still own, those assets will need to be covered in your estate plan. If you still own the assets when you pass away,...
Alzheimer’s and will contests
When someone is a child, they are not considered to have testamentary capacity. This is why someone who is under 18 years of age generally cannot write a will. They are not considered to have the mental capacity to do it at this time. Once you're over 18 years of...
Dementia and your aging parent
When you have a loved one who is showing signs of dementia, now is the time to sit down and talk to them about their wishes. People who suffer from dementia often have times when they are lucid, and it is important to discuss their estate plan, will and other...
Setting up a trust based on age
You have a lot of potential tools that you can use when doing estate planning. If you don't want to leave assets directly to your heirs, for instance, you could consider setting up a trust. Even if you do this, you still have a lot of different choices to make. Some...
What are the remedies when a trustee breaches their duty?
Your deceased loved one took all the proper steps when planning their estate. They left a valid will and one or more trusts behind to provide for you and other family members. They also likely thought long and hard about choosing a trustee, but that does not mean...
Blended families increase the odds of estate disputes
Blended families are becoming more and more popular in the United States. This has a lot to do with the fact that half of all marriages end in divorce, and many of these people get remarried. They both bring children from their first marriage and create a blended...
