If you don’t plan appropriately and thoughtfully, problems may arise with respect to this property and your family when you are gone, says Kiplinger’s recent article entitled “Your Vacation Home Needs an Estate Plan!” Speaking with your spouse and children is a good first step to help determine interest in retaining the property for the next generation and […]
Should an Estate Plan Include a Cabin on the Lake? Read More »
Does your estate plan need a revocable trust? The answer depends on the types of property you own and the goals you have for your estate plan. An estate plan should be prepared to solve your specific current and foreseeable issues – no more or less. When clients don’t own any probate assets, a revocable trust may
Should I have Revocable Living Trust in Estate Plan? Read More »
The Huffington Post’s recent article entitled “The Biggest Mistakes People Make In Their Wills, According To Estate Lawyers” explains that your last will and testament is one of the most important legal documents you’ll ever have. A will lets you state where you want your property, minor children and debts to go after you die. It also allows you
What are the Biggest Estate Planning Mistakes? Read More »
As home prices increase, more beneficiaries are choosing to keep the home they inherit instead of selling it for cash. In some cases, this raises an issue: does a beneficiary of a home also receive the mortgage? Inheriting a home with a mortgage adds another layer of complexity to settling the estate, as explained in
Can You Inherit a House with a Mortgage? Read More »
If you became incapacitated and advance planning had been done, your family will have the legal documents you need. Just as importantly, they will know what your wishes are for incapacity and end-of-life care. If there was no planning, your loved ones will have to start with a lengthy application to the court to have
What Happens If You Become Incapacitated? Read More »
Some reasons to update your will are more obvious than others, like marriage, divorce, remarriage, births and deaths. However, those aren’t the only reasons your estate plan needs to be reviewed, explains a recent article appropriately titled “When it comes to a will or estate plan, don’t just set it and forget it” from CNBC. Think of your
Should You Update Your Estate Plan? Read More »
A pour-over will is a particular kind of will created to work with a trust, with a goal of facilitating the transfer of assets if the person creating the trust (the grantor) has not transferred all of their assets into the trust. This happens more often than you’d think. How do you know if you
What Is a Pour-Over Will? Read More »
A will gives you control over who will manage your estate and who will receive your property, but what happens if you don’t have a will? In short: the state decides. In most cases, courts allow someone (whether a family member, friend, or creditor) to nominate themselves to represent your estate and use a pre-set
What If You Don’t have a Will? Read More »
Nj.com’s recent article entitled “What does becoming someone’s ‘power of attorney’ mean?” explains that a power of attorney (POA) is a legal document through which a principal states that his or her trusted agent may act on his or her behalf and for their benefit.A power of attorney is usually centered on addressing the principal’s financial matters, such as banking,
What Is a Power of Attorney? Read More »
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