The choice to disinherit a child is never an easy one. Disinheriting or failing to provide for a child in your Will, sends a clear signal about your feelings towards that child. Perhaps they cannot hold a steady job, are addicted to drugs and alcohol or are prone to criminal acts or violence; perhaps they are of financial means great enough that they do not need an inheritance as much as your other children. Whatever the reason, you risk creating a strong rift in the family if all of your … [Read more...] about Disinheriting a Child
Many people don’t realize that their Wills can’t control what happens to some of their most important assets. Houses, retirement accounts, proceeds from life insurance policies, and brokerage and bank accounts can all pass to others, regardless of what your will might say. Your will also doesn’t affect certain property that you own with others. Some property for example, is titled so that the surviving owners automatically inherit the property when one owner dies. Known as “joint tenancy with … [Read more...] about Joint Tenancy and Your Will
An incentive trust is basically an irrevocable trust that provides a monetary incentive for an heir to behave according to standards set forth in the trust document. Typically, incentive trusts can be used for heirs that you wish to provide for, but who may be addicted to drugs or alcohol, display criminal behavior, have trouble holding a job, or engage in other undesirable behaviors. An incentive trust must state the behavior that must be adhered to before trust assets are dispersed. You may … [Read more...] about What is an Incentive Trust?
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