Blog
Who Should I Appoint as My Executor?
A Personal Representative, formerly known as an Executor, is the individual you appoint to administer your estate when you die. He or she will be responsible for administering your estate, paying your outstanding debts, and distributing your property according to your wishes. The person you select should be someone you trust and someone you are…
What is my Lawyer’s Role in Estate Planning?
We continuously stress the legal pitfalls surrounding wills or trusts drafted without an attorney. This is because as experienced estate planning attorneys, we have seen far too many sad cases where an individual’s intent is not honored because of a poorly drafted document. Only a qualified estate planning attorney can help you understand and apply…
Can you Designate your Family Trust as the Beneficiary of your IRA?
Surprisingly, one of the most challenging assets to deal with in planning for your estate at death is your IRA. “Why is this so difficult?” you ask. Here we present a few challenges and solutions. First, IRA benefits pass by contract, according to your beneficiary designation. People sign wills and create trusts thinking they take…
Asset Protection Strategies Require Full Disclosure and Careful Planning
When engaging in asset protection strategies, clients and their attorneys must be very careful not to act in a manner that defrauds creditors. Fraudulent attempts to protect assets not only derailed protection strategies entirely, but attorneys can lose their license to practice law for being involved. The key to proper and effective asset protection is…
Who Should I Appoint as the Guardian of my Children?
There are many reasons why you should have a will as part of your estate plan. One of the main things to consider is that a will is the only tool to appoint a guardian of your minor children. It is really important to appoint a guardian to ensure your children are cared for in…
What are the Biggest Estate Planning Mistakes?
If you are currently working on your estate plan, you have probably heard a few horror stories about estate plans gone wrong. In such cases, usually a document was not properly drafted or a litigious family member caused a ruckus. Surely you are wondering what the top estate planning mistakes are, and how to avoid…
How Do I Choose an Attorney to Make My Will?
A will or a trust are essential components of your estate plan. A will can be used to appoint a guardian for minor children, create trusts for your minor or young adult children, transfer your personal effects, and distribute your estate. A trust can avoid probate and help manage your property if you become incapacitated….
How do I get my Trust Funded?
Creation of a trust and funding a trust are two entirely different matters. If your trust has been created properly, your efforts may be wasted if the trust is not properly funded. “Funding” is the term used to describe all the different kinds of things that have to be done to get assets titled in…
What Do All These Estate Planning Terms Mean?
We get certain reoccurring questions from clients, and there appears to be a lot of confusion about the basic terms commonly used in estate planning. We thought maybe we could do a service by collecting some of the more common ones and defining them. Please feel free to suggest additional terms! Will: A will is…
What is an Advanced Healthcare Directive?
An advanced care directive is a relatively new type of document. It is authorized by State law, and allows you to appoint an agent to make health care decisions for you when you can’t make them for yourself. It also contains end of life care directives. The advanced care directive takes the place of the…