Legal Trusts and Estate Planning: It’s Not Just For the Rich
Should You Set Up a Trust? We tend to think of trusts as vehicles for extreme wealth when, in fact, most families with any assets could benefit from a trust. Trusts are essentially a means of protecting property and assets. They allow you to avoid probate, transfer assets without incurring huge tax burdens, and they give you significant control over how your assets are used after...Read More 0
How Children Influence your Estate Plan
For families with minor children, parent’s have some interesting decisions when they draft their estate plan. It is common for a parent’s will to leave specific directions to the executor of the will as it relates to their children. For example, if there is no surviving parent and the child has not reached a certain age, the will may direct the executor to create a trust for the...Read More 0
Pros and Cons of having more than one Agent under a Financial Power of Attorney
Wondering whether you can name more than one individual as agent in your power of attorney (POA)? Worried you’ll make the wrong choice? This article contains all the information you need to make an informed decision about when shared agency is useful and how to use it properly. Definition of agent or attorney-in-fact: Principal The “principal” is you, the individual who...Read More 0
Individuals You Need to Consider Naming in Your Estate Plan
Overview An estate plan asks the client to name individuals for a variety of responsibilities – responsibilities that differ from one another and may lead the client to determine that more than one person is best suited to fill each of these roles. Executor/Trustee For the client The executor of a will is responsible for following the directions set forth in the will – in other words,...Read More 0