Where all your Estate Planning Questions are Answered
Where all your Estate Planning Questions are Answered
Reading Time: 2 minutes Short Answer: Probably Not a Safe Deposit Box With the importance of planning your estate and the costs associated with preparation of the documents, it is important that your estate planning documents be stored in a…
Reading Time: 4 minutes Short Answer: It Depends This question really has two subparts: The First is when the children should be told. The Second is why the children should be told. When You Should Tell Your Children About Your…
Reading Time: 4 minutes Short Answer: Night and Day Different. Each Serves a Unique Purpose. At first blush, this appears to be a simple answer. A revocable trust can be revoked by the person drafting the document, known as the…
Reading Time: 4 minutes Short Answer: Who I am, Who Gets It and How is it Distributed. Once the reader had determined to have a revocable trust as part of their estate plan, it is necessary that the trust contain…
Reading Time: 4 minutes Short Answer: There Could Be. It Depends on the Situation When asking a number of practitioners, the quick response typically received is no. There are no benefits of going through probate. However, this article will attempt…
Reading Time: 3 minutes Short Answer: Becomes Effective Upon Disability or Incapacity When deciding what type of power of attorney to have prepared, the first question is whether it should be durable or not. It has been the author’s experience…
Reading Time: 3 minutes Short Answer: It is a backup document. Consider it “Just in Case” A question commonly asked when preparing a “trust package” for a client. A “trust package” typically consists of a trust, a pour over will…
Reading Time: 3 minutes Short Answer: Many. It is not a good idea Generally speaking, accounts and assets that are titled as joint tenants with rights of survivorship (JTWROS) and not as tenants-in-common will pass the asset to the other…
Reading Time: 2 minutes Short Answer: Typically Not. It Depends on the Asset In most instances, a beneficiary, whether they receive their inheritance through a probate case, beneficiary designation or trust, at the death of the Grantor/Testator will not have…
