A trust is a complex document, but taking the time to read it a few times will prove enlightening. If you have questions, call your estate planning attorney, so they can help clarify anything you don’t understand. Attorneys do try to simplify documents when they can, so that clients will…
Estate planning requires making some of the most important decisions a parent can make for their child’s well-being. Single parents need to plan in advance for what will happen to their children, whether they are minors or adults. That includes preparing for the parent’s incapacity, as much as it does…
One of the challenges of asset distribution comes when your children’s lives have taken different turns. Do you leave your successful daughter the same amount of money that you would leave to a son, who can’t seem to find a direction? It’s not always easy, but decisions do need to…
For people who like to plan and don’t trust anyone else to get the details right, estate planning and even funeral planning can provide peace of mind. If you watched the funeral of the former President George H. W. Bush, you may have noticed how smoothly everything went. Every detail…
The swiftness of fires and flood in the news in recent months, even in places that have never experienced dramatic disasters, puts a spotlight on the need for preparedness. That includes your estate plan. The evening news presents enough reminders about the need to plan for disasters. However, many people…
The co-founder of Microsoft serves as an excellent example of advance planning, maintaining privacy and creating a legacy. Through a trust established years ago and several companies, Paul Allen began building his legacy of philanthropy long before his death. His last will and testament was a simple six-page document, according…
Trusts serve a variety of functions in estate planning, and they aren’t just for wealthy people. Trusts can be simple, or they can be complex, depending on what type of trust is being considered and how they are structured. Trusts should be set up by an estate planning attorney, who…
Most of us consider naming a friend or relative with a background in finance or law to be a trustee for our family, but there is an alternative that is important to consider. A corporate trustee will have a very different approach to managing a trust, and depending on your…
We’re not talking about what happens to your soul, or if you are headed to a peaceful place, or even what happens to your physical remains. Have you thought about what happens to the world you leave, your family and friends and your possessions, after you die? Let’s say you…
Selecting the individuals who will make important decisions on your behalf, when you are incapacitated or have passed away, is not to be done lightly. Is there a bomb ticking quietly in your estate plan? The chances are good that there is, says Forbes in “Defusing The Time Bombs In…