It is obvious that dividing your property into equal shares is the best way to leave property to your children. That is the straightforward choice when all your children are doing equally well. But if not – if, for example,…
In any comprehensive estate plan, a letter of instruction (LOI) is an important component, whether you’re starting from scratch or have an existing one. A letter of instruction can help your loved ones manage important information about you. A LOI…
Without an estate plan, your loved ones’ financial future and legacy will be left to the courts to administer under your state’s intestacy laws. Dying without an estate plan or a basic will creates confusion, work, and heartache for your…
Trusts set up for loved ones with disabilities are typically supervised by the grantor (the individual who creates and funds the trust). However, it is crucial to choose a successor trustee who will continue properly managing the SNT to benefit…
During probate, a will is formally recognized, a personal representative (executor) is formally named or validated, and assets are distributed to the intended beneficiaries following the death of the testator. It also requires paying the decedent’s outstanding debts and federal…
There is no one who wants to think they may be incapacitated by illness or trauma. It happens to people every day, unfortunately. With this knowledge, many people like to prepare in advance for the kind of treatment they want…
The number of Americans providing care for aging relatives has reached 53 million. About 17 percent of the US population is a family caregiver, and most are losing sleep, worrying, losing income, struggling to balance caregiving tasks with their workload…
The federal estate tax exemption allowance appears to be under threat of being reduced, which may mean it is time to rethink your approach to passing wealth on to your heirs. Senate Democrats are proposing to lower the current estate…
When considering their child’s future care, parents of special needs children have unique responsibilities. Funding a special needs trust (SNT) with life insurance is one of the most important things you can do to provide additional monies while protecting eligibility…
What happens to a beneficiary’s inheritance when they die? You may be wondering whether if you leave property to your brother Jim, but he dies before you, would his kids inherit the property in his place? The answer is, only…