Estate Planning for Young Adults
This article explores some of the myths and FAQs related to estate planning for young adults.
Read article Ilya Lyubimskiy
Passing the Torch: Business Succession Strategies You Need to Know
For many business owners, their business is one of the most valuable and important things they own. When it is time to sit down and create an estate plan, it is critical that business owners plan for their business just as they would plan for their home or finances. Effective business succession planning ensures a seamless transition of ownership upon the potential occurrence of many different events, such as the business owner’s retirement, disability, or death.
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Preserving Your Money and Property Beyond the Third Generation
Whether you have inherited your wealth or have built it yourself, you likely want to share this wealth with the next generation and beyond. Read this article to learn how an estate plan protects family wealth.
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What Can I Not Do as Trustor and Trustee of a Revocable Living Trust?
Before setting up a revocable living trust, you should understand what you can—and cannot—do in your dual role as trustor and trustee.
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Choosing a Gift to Give to a Charity
If you are considering making a donation to a public charity, you are not limited to donating cash. Depending upon your financial situation, giving objectives, and the needs of the charitable organization, certain accounts or pieces of property may be better suited for donation to the charity.
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Could a Testamentary Trust Be What Your Loved Ones Need?
There are pros and cons to probate, and after weighing them, some people may prefer to establish a testamentary trust, which is a trust created through a will—even if this means that the person’s money and property must go through probate before the trust is funded and money is given to beneficiaries.
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Don’t Let This Crucial Question Derail Your Estate Plan
Sitting down to create or update your estate plan can be overwhelming. Crucial to a successful plan is your ability to address two major questions: Who will get your stuff when you die, and how do you want those individuals or charities to receive that stuff?
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What Happens to My Will When I Die?
The main purpose of the probate process is to distribute the deceased’s money and property in accordance with the Will or state law. Not all Wills, and not all accounts and property, need to go through probate court. And just because a Will is filed with the probate court does not mean a probate needs to be opened. But whether or not probate is necessary, most state laws require that a Will be filed when the creator of the will passes away.
Read article Should your child’s guardian and trustee be the same person?
If you have overheard any discussion about estate planning, you have likely heard the words “guardian” or “trustee” tossed around in the conversation. When it comes to estate planning, who will ultimately be in charge of your minor child is an important decision that requires consideration of many factors.
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What Is the Difference Between a Probate Attorney and an Estate Planning Attorney?
Estate planning attorneys and probate and trust administration attorneys play crucial but distinct roles in the legal processes involving legacy planning, asset distribution, and wealth preservation. As part of the estate planning process, you should discuss with your attorney the role they will play during your lifetime and whether they can also assist your loved ones with estate and trust administration when you pass away.
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