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...
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to Each Client.
Month: March 2022
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...
Why you need a financial power of attorney in your estate plan
Your estate plan should contain several elements. These all work together to ensure that your wishes are followed when you aren’t around to speak for yourself. You probably know that you need to get your will in place. You may even recognize that you should have...
Should you add a “DNR” order to your estate plans?
You’ve lived your life on your own terms, and you’d like to die on your own terms. With that in mind, you’ve done everything in your power to make sure that your ending is peaceful. You have a will, you’ve set up trusts for your heirs, you have powers of attorney in...
How much can you gift to loved ones while avoiding taxes?
When you have had good fortune throughout your life, you want to share that wealth with the people you love the most. Leaving an inheritance is certainly a great way to pass your good fortune along to those closest to you, but you can't witness their user enjoyment of...
