If you are among the many people who choose to include a trust in their estate plan, you will need to appoint someone to be the Trustee of the trust you create. Choosing the right Trustee is extremely important. In fact, the Trustee is often the key to the success (or failure) of a trust. To illustrate the importance of appointing the right Trustee, the trust attorneys at Augulis Law Firm discuss how the wrong Trustee can damage a trust. Trust Basics A trust is a legal relationship where … [Read more...] about The Right Trustee Is Crucial to the Success of Your Trust
Exactly what the definition of a "friend" is may vary from person to person. Most individuals would say that you can't be friends with someone that you have never met (Manti Te'o and Lennay Kekua notwithstanding). Whatever your opinions on the matter may be, a man who passed away in Illinois last summer left behind everything that he owned to a pair of individuals that he considered to be his friends though he had never met them in person. He did see them frequently on the television … [Read more...] about Actors Receive Bequests From “Friend”
If you have finally decided to sit down with an experienced estate planning attorney to get started on your estate plan, you have made a wise choice. As you undoubtedly realize, a well thought out estate plan can protect you, your assets, and your loved ones throughout the course of your lifetime and beyond. If you have never worked on an estate plan before, however, it can be a little intimidating to think about doing so. You may not be sure what to expect from your initial consultation with … [Read more...] about Preparing for Your Consultation with an Estate Planning Lawyer
A well constructed, comprehensive estate plan should take all the eventualities of aging into consideration. Unfortunately, one of these is the possibility of becoming incapacitated at some point in time. There are a number of different ways that an individual can become incapacitated as we all know, but there is one culprit that is extremely attention-getting when you look at the statistics. Alzheimer's disease strikes at a surprisingly high rate. One of the best resources online for … [Read more...] about Alzheimer’s Induced Dementia Quite Common Among Seniors
Despite the fact that everyone should have a Last Will and Testament, fewer than half of us actually do. Of those, many have wills that they put together on their own – either from scratch or by using various inexpensive toolkits or cheap downloadable forms from the internet. On the surface, it might seem that those wills would be as valid and effective as any other, and eminently more affordable than hiring an attorney to create the document. In reality, however, self-created wills often … [Read more...] about Is Your DIY will a Recipe for Disaster?
There are two sides to consider when you think about the subject of last will challenges. The first thought that may come to mind is that some disgruntled party is unwilling to accept the final wishes of a deceased individual. To prevent successful challenges when you know that there could be those who are not happy with your decisions you should explain your concerns to your estate planning attorney. He or she will gain an understanding of the situation and take this into consideration when … [Read more...] about Challenging a Last Will
Many people look forward anxiously to their retirement years and they plan ahead accordingly so that they have the financial resources that they need to make the most of all their free time. And of course we are all aware of the need for estate planning, and those who have retired or are going to be retiring in the near future are generally going to have an estate plan in place. This having been stated it is important to remember the fact that there is more to your post-work years than the … [Read more...] about Comprehensive Latter Life Planning
Even when the probate of an estate goes as planned, it can still be a complicated and confusing process for those who are unfamiliar with the process. When there is a hitch in the process, it can be even more confusing for everyone involved. For instance, what happens if a beneficiary of the estate dies during the probate process? Warren probate lawyer at Augulis Law Firm explains what happens to the inheritance of a beneficiary who dies during probate. What Is Supposed to Happen during the … [Read more...] about Who Inherits from a Beneficiary Who Died?
The acronym HIPAA stands for the Health Insurance Portability and Accountability Act of 1996. In this post, we will explain why this piece of legislation is something to take into consideration when you are planning your estate. Advance Directives for Health Care Everyone is well aware of the fact that you have to facilitate postmortem asset transfers when you put your estate plan in place. A lot of people think this is the long and short of it, but a proper estate plan will also address … [Read more...] about What Is a HIPAA Release?
Throughout your life, you will likely review and revise your estate plan numerous times to reflect the changes to your family and to your assets. At some point, there is a good chance that you will consider adding a living trust to your estate plan. Working with an experienced trust attorney is the best way to ensure that your trust is drafted and executed correctly. In the meantime, however, a Warren living trust attorney explains the steps involved in creating a living trust. Narrow down … [Read more...] about Steps Involved in Creating a Trust