Joint Will A joint will is one that two people make together, each leaving all of their property and assets to the other. It also covers the situation when the second person dies. → Read More
Special Needs Trusts: Eligibility for Federal & State Assistance If you have a child with special needs, you want to be sure that once you are gone, he or she will be well taken care of. Special needs individuals under the age of 65 are eligible for Medicaid, Supplemental Security Income (SSI) and other benefit programs as long as they do not have more than $2,000 in their own name. → Read More
When Trustees Waste or Steal Trust Assets Breach of fiduciary duty by a trustee, which can range from poor investing to outright theft, can be monitored, prevented, and remedied. As a beneficiary of the trust, you have the right to request a trust accounting, and you may be able to have the trustee removed or hold the trustee liable for whatever trust assets were lost through the trustee’s breach of fiduciary duty. → Read More
What is a simple trust? Trusts are generally created as a way to manage property, such as cash or real estate, and transfer it to someone else at a certain point in time. A simple trust, also known as a bare trust, is one to which the trustee does not have to do anything other than ensure that the trust property is given to the named beneficiary within the time frame specified by the trust. → Read More
Beneficiaries: How to Dissolve or Modify an Irrevocable Trust Many states have laws within the probate code that allow the beneficiaries to dissolve or alter the terms of a trust under certain circumstances. For example, the trust may be modified if the intended purpose of the irrevocable trust cannot be fulfilled. → Read More
Power of Attorney Abuse: What to Do if Someone You Know is Affected Power of attorney abuse is relatively common, and can range from serious to minor incidences. Unfortunately, the control that a person with power of attorney has over the principal’s finances invites power of attorney abuse, and can include depletion of the estate and fraud, among other things. → Read More
A Will Prepared by an Attorney A will prepared by an attorney is individually designed and professionally crafted for you. → Read More
What does a will usually contain? While a last will and testament can be as simple as a few sentences stating your intent, there are some traditional provisions that tend to make the probate process smoother and eliminate any ambiguity with regard to family members. Some typical provisions of a last will and testament include the name of the testator (your name), your spouse, and distribution of special gifts. → Read More
Treatment of Stepchildren and Out-of-Wedlock Children in Your Will This article discusses the disposition of property in your will when you have stepchildren and out-of-wedlock children. → Read More
How To Take Care of a Mentally Disabled Child Through a Trust A special needs trust is formed with the intent of providing for a mentally disabled beneficiary after you die. Without a trust, the property given to the child in your will would be controlled by a guardian who has the discretion to use the property as necessary for the care of the child. A special needs trust, on the other hand, is controlled by a trustee who releases property for specific situations that are enumerated in the trust document, allowing greater access generally to the property for the disabled child. → Read More
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