So, you have been chosen as a Successor Trustee to manage your relative’s or friend’s Trust. Wow, you may think, what an honor. Yes, being chosen as a Successor Trustee is certainly an honor; the person who chose you likely considered you trustworthy, responsible, amicable, and detail-oriented. Before serving as a Successor Trustee, […]
Read More »Do You Still Need ‘AB Trust’ Planning in Your Estate Plan?
If you are married and sought the counsel of an estate planning attorney several years back, chances are your estate plan contains an “AB Trust.” Unless you are well-versed in estate planning, the likelihood of you remembering terms like AB Trust is slim. An AB Trust is a specific type of planning available to […]
Read More »Differences Between a Trust and a Will
When people discuss estate planning, the two terms we hear the most are “trust” and “will.” In fact, these terms are used almost interchangeably, despite the two being completely different from one another. The key distinction between a trust and a will is that one goes into effect only after a person dies, […]
Read More »Why Does a Living Trust Cost More than a Will?
Yes, you will likely invest more in trust-based planning than will-based planning because you get a whole lot more value. Comparing these estate planning investments is like comparing apples and oranges – and the overall investment may not be what you think.
Read More »Where is the Best Place to Store Your Original Estate Planning Documents?
Estate planning attorneys are often asked where original estate planning documents – wills, trusts, powers of attorney, and healthcare directives – should be stored for safekeeping. While there is no right or wrong answer to this question, consider the following:
Read More »3 Famous Pet Trust Cases and the Lessons We Can Learn From Them
Things don’t always go according to plan. On the other hand, sometimes pet owners can get a bit creative when providing for their pets. Let’s take a look now at 3 famous cases involving pet trusts and distill important lessons from them.
Read More »The Pros and Cons of Probate
In estate planning circles, the word “probate” often comes with a starkly negative connotation. Indeed, for many people — especially those with larger estates — financial planners recommend trying to keep property out of probate whenever possible. That being said, the probate system was ultimately established to protect the property of the deceased and his/her […]
Read More »Estate Planning for Unmarried Partners
When you’re in a romantic partnership – as opposed to a marriage – you need to create the legal protections and benefits automatically afforded to those who are married. For example, married persons legally inherit from each automatically and can visit their spouses in the hospital without question. You and your partner can do the […]
Read More »Make Estate Planning Your New Year’s Resolution
The holidays are upon us. It’s also a good time to get started with some Old Year end and New Year beginning planning activities, especially if family members are going to be celebrating the holidays with you. Start with reviewing what you have and how you own it (by yourself, with your spouse, with a […]
Read More »How to Write a Will
For many people writing a will can be a daunting task. People do not like to think about their own deaths, let alone decide what will happen to their belongings after they pass away. However, once things are broken down, writing a will does not have to be too difficult.
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