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June 2016 Archives

What kind of trust should I utilize?

Many people are intimidated by the prospect of using trusts, a somewhat-ironic fact since the very name should endear people to them. A trust is an estate planning tool that allows someone to give up their asset to another person (the trustee) who then holds on to and maintains the asset under the guise of the trust until the ultimate beneficiary or heir can assume control and ownership of it.

Some situations that can lead to someone challenging a will

In the last month, we have written a number of blog posts about wills and how heirs and beneficiaries can be impacted when estate planning isn't done properly. To be clear: no matter your situation, you should be thinking about your estate plan and preparing a will. Dying without a will, which is called dying "intestate," could leave your estate very vulnerable and it could rob your heirs and beneficiaries of the assets they may deserve.

Guardianships, conservatorships and estate planning

There are so many factors that compose your estate plan. There's your will, which contains your last wishes and provisions for passing on assets to your loved ones and beneficiaries. There are trusts, a wide range of estate planning tools that can help someone reduce the taxes their estate owes, thus benefiting their heirs and beneficiaries. There's your power of attorney; your healthcare directive; your retirement accounts and pensions; the list goes on an on.

Did you remember your pets during estate planning?

Fluffy, Fido and Mittens are increasingly more than just furry, four-legged animals -- they are part of the family. Animals hold a special place in their owners' hearts and yet are often left out of the entire estate planning process. Ensuring the continued care of a beloved animal can be a relatively straightforward task that can have disastrous outcomes when avoided.

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