Special needs planning is often a part of a parent or other family member’s estate planning considerations. To ensure that you make adequate financial arrangements through proper estate planning to protect your loved ones with special needs, you may need to draft special estate planning documents. Because of the legal nuances involved in estate planning, setting up a time to discuss your estate plans with our office may be a wise investment. Setting up a special needs trust may be necessary … [Read more...] about Special Needs Planning: Part I of III
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Your Will Should Not Include Your Health Care Directives
Not only should you ask an attorney to help you draft a health care directive, this directive should be a written document separate and apart from your will. Placing your health care directives in a will does not make practical sense, since your will is typically discovered after your death – not prior to it. Furthermore, your attorney should place your funeral and burial wishes in a separate document for those reasons. You can take care of your future health care needs, in case of … [Read more...] about Your Will Should Not Include Your Health Care Directives
Types of Joint Property
By drafting a written will, you are taking an important step to ensure that your hard-earned property and assets go to specific individuals upon your death. However, you may not use your written will to convey certain types of jointly owned property. You may not use a written will to convey certain property that you jointly own with another individual without that person’s consent. If you own property with another individual communally, or jointly as joint tenants with survivorship rights, you … [Read more...] about Types of Joint Property
What is a Revocable Living Trust?
A revocable living trust is a legal document that allows you to avoid probate if properly drafted. Known legally as a “revocable inter vivos trust,” a living trust allows you to retain full control of your property while you are alive. After your death, the assets within your trust pass to your beneficiaries through your appointed trustee. To be legally effective, a legal trust must have trust property or assets at the time of creation. In other words, you will need to place some assets within … [Read more...] about What is a Revocable Living Trust?
Avoid Predatory Living Trust Scams
Information from the National Consumer Law Center underlines the importance of avoiding predatory living trust scammers. Unfortunately, businesses purporting living trust document preparation services often target senior citizens. They may overinflate the importance of living trusts, overemphasize the time and expenses associated with probate and offer senior citizens with limited resources a way to dispose of their assets through coercive sales tactics. Before you pay money to a company that … [Read more...] about Avoid Predatory Living Trust Scams
