Things To Consider When a Parent Is Out of Town Your estate plan may include powers of attorney that allow a trusted person to act on your behalf and advocate for you with regard to medical and financial matters when you cannot do so yourself. But do you have a similar document in place that [...]
What Conditions Can I Put on My Child’s Inheritance? When designing your estate plan, you have two primary options for leaving an inheritance to a child: 1) you can give it to them all at once, in a single lump sum, with no strings attached; or 2) you can establish some level of control over [...]
Can I Leave My Spouse Out of My Estate Plan? The relationship between spouses is uniquely significant, especially when it comes to estate planning. Where you are generally able to exclude individuals such as parents, siblings, and adult children from your estate plan, the law provides special protections to help protect married individuals from being [...]
Corporate Transparency Act Update The Corporate Transparency Act (CTA) took effect on January 1, 2024 (and additional rules under the Act will go into effect beginning January 1, 2025). New business entities including limited liability companies (LLCs) and partnerships are now required to file reports with the Treasury Department’s Financial Crime Enforcement Network (FinCEN). These [...]
Qualified Domestic Trusts: Your Jumpstart To Protecting Your Noncitizen Spouse Married couples love each other and want the best for each other. Establishing a comprehensive estate plan is one way to provide the best for each other. Not only does an estate plan protect you when you are unable to care for yourself during your [...]
Estate Planning Is About Knowing Your Priorities Thinking about the world and how our loved ones will fare after we pass away can be very difficult. Although we all know that we will pass away at some point, this is not something most people like to dwell on. However, by proactively planning and prioritizing your [...]
Demystifying Probate & The Role Of The Personal Representative What Are The Responsibilities Of a Personal Representative In Probate? When creating a last will and testament (commonly known as a will), one of your most important considerations is who to choose to serve as the Personal Representative (also called an “executor” in some states and [...]
What Happens to Real Estate With a Mortgage When I Die? Estate Planning for Your Home: Mortgages & Inheritance Explained Your mortgage, like the rest of your debt, does not simply disappear when you die. Suppose you leave your home that has an outstanding loan to a beneficiary in your will or trust. In that [...]
What Is the Difference Between a Probate & Trust Administration Attorney & an Estate Planning Attorney? Differentiating Estate Planning, Probate, & Trust Administration Legal Services Estate planning attorneys and probate and trust administration attorneys play crucial but distinct roles in the legal processes involving legacy planning, asset distribution, and wealth preservation. Estate planning attorneys focus [...]
Testamentary Trusts: The Best of Both Worlds? The Role of Testamentary Trusts in Estate Planning Strategies You have several different options when it comes to creating the right estate plan for you and your family. Contemporary estate planning attorneys generally recommend a revocable living trust as the ideal tool for most families. Some others [...]
