One of the most important reasons to create a will, regardless of your age or perception of your personal wealth, is to name an executor. This is because this important role is a person who will carry out the administration of your estate after you pass away. Their primary job is to protect any of the property that you owned until any taxes and debts have been paid and then transfer any remaining property to your Read More
What Are the Limitations with Living Trusts?
Living trusts are some of the most popular types of trusts used by a grantor or the person who creates them to accomplish estate planning goals. There are many different advantages associated with living trusts including privacy during situations in which the state demands an inventory of asset filing, easy succession of trustees, the elimination of delays associated with probate, end of life provisions as desired by Read More
How to Designate a Guardian in Your Will
A child is considered a minor until he or she reaches age 18, at which point they are considered an adult and are capable of making legal decisions on their own. In the event that you have a minor child under the age of 18, naming a guardian in your will is one way to ensure that your child is cared for by a person that you trust and someone who is capable of serving in this role in the event that something happens Read More
Reasons to Name a Guardian for Your Minor Children
In general, there are two parents who are able and willing to serve and care for their children and if one passes away, the other one by default take over physical custody in addition to responsibility for caring for the child. A minor guardian should be appointed in your estate planning documents to step into such an important role. In many states across the US, the surviving parent can also be given the authority Read More
Three Key People You’ll Need as Part of Your Estate Plan
The parties that you select to serve in important roles in your estate plan can make a big impact on making things easier for you or your loved ones in the event that the cornerstone estate planning documents need to be activated. Three of the most important people you can select to serve as part of your estate plan include your durable power of attorney agent, your health care power of attorney agent and a Read More
Three Key People You’ll Need as Part of Your Estate Plan
The parties that you select to serve in important roles in your estate plan can make a big impact on making things easier for you or your loved ones in the event that the cornerstone estate planning documents need to be activated. Three of the most important people you can select to serve as part of your estate plan include your durable power of attorney agent, your health care power of attorney agent and a Read More
What to Consider If You Are a Snowbird?
If you’re one of the people who spend the warm part of the year in New Hampshire or Maine but seek Florida during the winter, be sure you know how this could include some of your existing estate planning or elder law documents. If you spend the good part of the winter in Florida, it's important to think about how this could potentially impact your estate planning. Snowbirds often split their time between two places Read More
Why Do Most People Create an Estate Plan?
Before you can create the documents, strategies and tools that form the basis of your estate plan or elder law plan, you need to know your objectives. This will help to guide your conversation with an estate planning lawyer and ensure that you select the strategies and tools most aligned with those goals. Some of the most common objectives include: Saving on income taxes right now. Providing for surviving family Read More
How to Plan Ahead for Family Belongings in Your Estate
The task of handling a loved one's estate can be very overwhelming physically and emotionally. Any of the heirs to your estate might have to take time away from work or even be involved in important planning tasks like the funeral. There is also all of the items that belong in your estate planning inventory that could be sorted through. You can do your due diligence and make things easier for your loved ones by Read More
Should Asset Protection Planning be Part of Your Estate?
Looking at the big picture of protecting your interests during your life and after, estate planning includes long term care planning and elder law issues, estate planning strategies, and determining whether asset protection planning belongs, too. Asset protection planning is not a strategy that you use to respond after a threat, such as a lawsuit, emerges. It’s best used well in advance of any threat to diminish the Read More
