If you want to protect your assets that you leave for your spouse and children from your husband’s new wife, you need comprehensive, up-to-date estate planning, trust planning. If you leave your assets outright to your husband, or own assets jointly with him, your children will likely be disinherited. Sadly, this is how it happens, Penelope and Paul have been married for 25 years; they have four children. They own most of their assets jointly and have named each other as beneficiaries of … [Read more...] about Estate Planning Motivation: Your Husband Will Likely Get Remarried and Disinherit Your Children
Wills & Trusts
Name Contingent Trusted Helpers in Your Estate Planning Documents
One of the estate planning tasks that is commonly forgotten, and wreaks havoc, is the appointment of contingent trusted helpers in your estate planning documents. If you don’t have contingent helpers and your named helper is unwilling or unable to serve, your plan fails; and, court interference will be mandated. Identifying Estate Planning Trusted Helpers Trusted helpers are personal representatives, executors, power of attorney agents, trustees, and guardians for minor children. Why You … [Read more...] about Name Contingent Trusted Helpers in Your Estate Planning Documents
What Are the Most Important Estate Planning Documents?
When you begin your estate planning, you and your estate planning attorney will need to determine which documents and planning tools you need as part of your individualized, comprehensive estate plan. Take a look at the following information, to learn about the most commonly used base estate planning documents. If you have any questions, or if you’d like to begin your estate planning affairs, contact an estate planning attorney. Most people choose to begin their planning with the … [Read more...] about What Are the Most Important Estate Planning Documents?
What Happens to My Assets Without a Will?
Many people neglect to create a will during their lifetime. They just assume that their affairs will always be taken care of as they wish. The truth is, you have no control without a will in place; and, you will likely find that your true wishes aren’t respected. Take a look at the information below, to better understand what happens to your assets if you don’t have a will. If you have any questions, or if you’d like to create a will, contact an estate planning attorney. If you … [Read more...] about What Happens to My Assets Without a Will?
Who Makes (Or Doesn’t Make) a Good Trustee?
When choosing a trustee, you need to make sure that you’re making the best choice possible so that your estate planning wishes are carried out. This will give you confidence knowing that your trust’s affairs will be in order. Take a look at the following information, to better understand who makes a great trustee. If you have any questions, or if you need help selecting a trustee, contact an estate planning attorney. You may have difficulty choosing the best trustee. It can be hard … [Read more...] about Who Makes (Or Doesn’t Make) a Good Trustee?
Dying Without a Will: New York Intestacy Laws
If you choose not to create a will during your lifetime, you need to realize that you will have no control over how your property is distributed after your death. Each state has its own set of intestacy laws that determine how assets are distributed. If you’re a New York resident, take a look at the following information, to better understand how your property will be distributed without a will. If you have any questions, or if you’d like to create a will, contact an estate planning … [Read more...] about Dying Without a Will: New York Intestacy Laws
Should You Serve as a Loved One’s Executor?
If you agree to serve as an executor, you will have many future responsibilities. If a loved one has recently informed you of her wish to appoint you as executor, you will need to carefully think through before agreeing to serve. Take a look at the following information, to learn more. If you have any questions, or if you’d like to discuss the responsibilities of an executor, contact an estate planning attorney. In order to be a good executor, you will need to be highly organized. It’s … [Read more...] about Should You Serve as a Loved One’s Executor?
Don’t Leave Old Copies of Your Will Lying Around
Once you create your will, you will likely make changes in the future. This is because your needs will change, and you need to make sure that your current plan is updated. When creating a new will, you need to get rid of your old and outdated documents. Take a look at the following information, to learn more. If you have any questions, or if you’d like to update your current will, contact an estate planning attorney. If you’ve decided to make changes to your current will by creating a new … [Read more...] about Don’t Leave Old Copies of Your Will Lying Around
Discussing Long Term Care Before a Crisis Occurs
Many seniors and their families begin evaluating their long-term care needs, after a crisis occurs. This is usually because the senior, and his or her family finally, realize that there are additional care needs that must be met. By discussing long-term care ahead of time, you can have a better and, likely, less expensive plan in place for your loved one. Take a look at the following information, to better understand the importance of long-term care planning. We acknowledge, discussing … [Read more...] about Discussing Long Term Care Before a Crisis Occurs
What is a Trust? (part 2 of 2)
Many people choose to create a trust when developing their estate plan. This is because a trust can be very beneficial and makes it possible for an individual to have control over his or her assets and how they’re handled. Take a look at the information below, to better understand the use of a trust. If you have any questions, or if you’d like to create a trust, contact an estate planning attorney to discuss your individual needs. The differences between a revocable and irrevocable trust If … [Read more...] about What is a Trust? (part 2 of 2)
