Estate plans are like life—over time, it changes, people are added and subtracted and your wishes and goals change. Regardless of your income, amount of assets or family circumstances, everyone wants to minimize taxes and facilitate a smooth transfer of property at death. Consider a recent aptly named article titled “Does Your Estate Plan Call for … Continue reading What Does a Will Do and Not Do?
Category: Revocable
What Is the Point of a Trust?
A trust is an agreement made when a person, referred to as the trustor or grantor, gives a third party, known as the trustee, the authority to hold assets for the trust beneficiaries. The trustee is in charge of the trust and responsible for executing the trust’s instructions as per the language in the trust, … Continue reading What Is the Point of a Trust?
Do I Need a Trust, or a Last Will and Testament?
Whether to have a will or a trust or both is often discussed when embarking on the estate planning process. Arriving at the answer, as discussed in an article, “Personal needs, preferences drive estate planning,” from The News-Enterprise, requires a closer look at each individual’s situation. The last will and testament doesn’t take effect until two events occur: … Continue reading Do I Need a Trust, or a Last Will and Testament?
Do I Need a Last Will and Testament?
Estate planning encompasses everything from planning for property distribution at death to preparing for incapacity, tax planning and guardian planning for minor children. An experienced estate planning attorney is involved with far more than a last will and testament. However, this is what most people think of when they sit down for their first meeting. … Continue reading Do I Need a Last Will and Testament?