Most of our clients would never fathom themselves purposely disinheriting one of their children. However, sometimes, a parent decides to leave one child assets and another one absolutely nothing out of a loving intention. When advising parents on this issue it, we find it’s worth bringing up to them that any child discovering that he… Read More »
Posts Categorized: Trusts
Third-Party Special Needs Trust helps care for loved ones
Caring for children is a full-time job, especially when that child has special needs. To provide for the child, one of the most helpful trusts we recommend for our clients is the Third-Party Special Needs Trust. Federal law specifically authorizes this trust, which can provide for your child without penalty. This means that creditors have… Read More »
Revocable Trusts Provide Control and Protection
This article is Part 1 in a series that explores the various types of trusts that may benefit you. Today’s topic is revocable, or living, trusts. When it comes to control, protection and privacy, there is nothing better than a revocable trust as the centerpiece of your estate plan. Benefit 1: You Can Drive It… Read More »
How To Maintain Harmony Among Your Heirs
Sibling rivalry is as old as time. It was true in Cain and Abel’s case, and it’s true today. One area of sibling discord is inheritance, and as The New York Times recently reported, deciding how to divide assets is one of the most difficult things parents – you – have to undertake. When deciding… Read More »
Helping You Avoid the Joint Tenancy Trap
When most of you bought your first home, you probably signed a deed as a joint tenant next to your spouse’s signature. That’s the way your parents and grandparents did it, and the real estate agent told you it would protect the surviving spouse from probate court after one of you dies. It’s not unusual… Read More »
Choosing the Right Successor Trustee
Without encouragement from trusted advisors or loved ones, few seniors will take the time to arrange for someone else to handle their financial issues when they can no longer fully care for themselves. It’s an easy decision to put off, because it’s emotionally stressful to consider losing your cognitive abilities and independence to financially care… Read More »
Blended Families and Your Estate Plan: How to Get It Right and Keep the Peace
The idea of “family” has changed dramatically over the last few generations. As a society, we’ve shifted away from thinking of family as a father, mother and children to one that—through divorce and remarriage(s)—can potentially comprise multiple sets of parents and offspring. Throw in the recent legalization of gay marriage and you’re looking at a… Read More »
5 Common Estate Planning Mistakes That Are Costly—And Easy to Avoid
Most people don’t like thinking about death or who will get what after they die. But refusing to take time to plan your estate can have costly tax implications. Proper planning will not only ensure your wishes are carried out, but prevent your family from losing a huge chunk of your assets unnecessarily—in some cases,… Read More »