Can a Trust Be Amended?
In their trust they leave each other their share upon death and then I would be trustee when my last parent dies. I’m really concerned about this whole deal.
Elder Law Estate Planning for the Future
You make things easier for the children, by planning for the possibility of a nursing home stay because you take the burden off the children to make crisis decisions for your long-term care costs.
What You Need to Know If Asked to Serve as a Trustee
If asked to be a trustee, anyone, unless previously experienced in this field would not know what the responsibilities are. How much work is involved? What is the time frame? Do I need to prepare tax returns and handle accounts? Can I get help? When do my responsibilities end?
What’s the Best Way to Pass the Family Vacation Home to the Next Generation?
Before gifting a holiday property, an individual or couple (who can gift up to $22.8 million against their lifetime estate-tax exclusion through 2025), should find out whether their children want it.
What is the Best Way to Leave an Inheritance to a Grandchild?
While everyone from brand new parents to great grandparents can benefit from the advice of a competent estate planning lawyer, frequently the individuals making sure that their affairs are in order, are those in their golden years. They have a common concern: what about their grandbabies?
Using Trusts to Maintain Control of Inheritances
Why would you leave an inheritance to a trust for a beneficiary rather than “outright” to the beneficiary? The answer is control.
Does Anyone Really Need a Trust?
The simplest definition of a trust is a three-party fiduciary relationship between the person who created the trust and the fiduciary for the benefit of a third party. The person who created the trust is known as the “Settlor” or “Trustor.” The fiduciary, known as the “Trustee,” is the person or organization with the authority…
How Do I Include Retirement Accounts in Estate Planning?
While most estate planning focuses on physical property, like your home, and liquid assets, such as investment accounts, retirement plans can actually make up a large portion of one’s estate. Due to the specific tax rules governing these assets at death, you must plan carefully to ensure these funds are integrated properly into your estate distribution plans and tax savings strategies.