Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys If a family member or friend has chosen you to serve as Trustee of their Living Trust, you’ve been given a great honor. It means they believe you are honest and responsible and they have a great deal of faith in your abilities and your personal integrity. It also means that you have an important, and sometimes complicated, job to do. Basic Duties While no two Trusts are exactly alike, all Trustees … [Read more...] about What Does It Mean To Be a Trustee?
Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys If you have creditors, you should consider which asset protection strategies might be right for you. Asset protection is the shielding of your property from creditors, potential creditors, and others. While most people don’t realize it, the estate planning process includes a number of opportunities for you to use asset protection strategies to protect yourself and your loved ones. Here are four asset protection … [Read more...] about Avoid These Four Asset Protection Pitfalls
Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys A move brings with it a sense of expectation, excitement, and maybe a little trepidation. Whether you’re moving across town or across the country, there are countless plans to be made and there’s a lot of work to be done. Although your Will or Trust might be the last thing on your mind at this busy moment in your life, a move is actually an ideal time to review and update your estate plan. Here are the things … [Read more...] about Moving? Don’t Forget to Review Your Estate Plan
Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys Has your life turned out exactly as you expected? Most of us would answer this question with a resounding “No!” For better or for worse, plans change, surprises arise, and we adapt. Maybe you chose a career that is completely different from the one you envisioned for yourself back in college. Perhaps your children chose very different paths in life than you would have picked for them. Flexibility is essential … [Read more...] about Expecting the Unexpected
Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys John Ober may or may not have thought he was married, but a Montana court certainly believed he was – and the fact that he was married determined what happened to his estate. John Ober and Selma Klein had a long-term live-in relationship which lasted for many years. John proposed to Selma in 1987, but they never applied for a marriage license and never had a marriage ceremony. They kept filing tax returns as … [Read more...] about The Accidental Spouse
Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys Your estate plan is prepared. Your Living Trust is in place and properly funded, you have a Pour-Over Will just in case, and your incapacity plan is ready and waiting in the event you need it. Is it time to part ways with your attorney? Not at all! In fact, your relationship with your estate planning attorney has just started, and here's why: Your Estate Plan Should Be Reviewed and Updated Regularly Peoples' … [Read more...] about I Have an Estate Plan: Do I Still Need My Attorney?
Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys Parents of adult children often don't give much thought to the manner in which their children receive their inheritances. They decide how to divide their assets and then distribute their estates directly to their children - end of story. If you want to make sure your children enjoy flexibility in accessing and using their inheritances while minimizing the impact of taxes, divorce, lawsuits, and other threats, … [Read more...] about Why a Trust Makes Sense – Even If Your Child Is Not a Child
Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys What would you think about your next-door neighbor or your nosy sister-in-law thumbing through the pages of your Will or perusing your financial records? The mere idea probably shocks and outrages you. Maybe it even embarrasses you a little. Would you be surprised to find out that after you pass away, your Will is filed with your local probate court, and your probate file is open to the public? Anyone who is … [Read more...] about Planning Your Estate With Privacy in Mind
Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys We all want to do our very best to provide for our families, both during our lifetimes and after we're gone. That is why we work hard, manage our finances carefully, and take estate planning seriously. The estate planning landscape has changed significantly in just a few years, and the opportunities are better than ever for those of us who want to leave a true legacy for our loved ones. A generation or two … [Read more...] about Your Family Deserves More Than an Estate Plan
Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys As you look back over your life, you realize just how much your parents' support has meant to you. They were there as you took your first faltering baby steps, they supported you with advice and encouragement as you navigated adolescence, and, even as you ventured into adulthood, you knew your parents would be there to help you face life's unending questions and challenges. Years later, the roles are … [Read more...] about Helping Your Parents Age Gracefully