What role does the personal representative play under a will? What role does the personal representative play under a will? → Read More
Will Contest Statute of Limitations Statutes of limitations for contesting wills, or time limits for a will contest, depend on when the will was admitted to probate rather than on the date of the individuals death. There are other time limits that apply along the way throughout the process. → Read More
Leaving Gifts to Minors in Your Will Your estate planning will can be used to address two major concerns if you have young children’who will raise them if you die, and who will supervise property you leave for them. The supervision of property left for your children will be covered here. → Read More
What is the procedure for establishing power of attorney? The circumstances have arisen where you foresee a time when you may need someone else to have power of attorney over your affairs in order to make decisions and take action on your behalf. Here are the steps you should follow to successfully give another power of attorney over your affairs. → Read More
What is a fixed trust? The term fixed trust is commonly used to refer to two different types of trusts. The first type of fixed trust is an actual form of trust with very specific instructions for the trustee. The second type of fixed trust can also be referred to as a fixed investment trust, a type of mutual fund. → Read More
Is there any way I can prevent nursing home costs from wiping out my father’s savings? My dad has some savings. I fear he will have to go into a nursing home, and that will wipe out all his savings. Is there anything I can do? → Read More
What is a Totten trust? A Totten trust is not actually a type of trust at all. In fact, it is a type of payable on death account that is payable to another after the demise of the account owner. The Totten trust earned its name from a landmark case in which the court found in favor of the named person on the account over the actual family of the deceased person. Not all states recognize the Totten trust, so it is always best to speak with an attorney before using this method for your estate planning. → Read More
Power of Appointment: Allows the Executor of the Will to Decide Who Gets How Much A power of appointment gives the executor of the will the power to distribute property according to the executor’s discretion among named beneficiaries, rather than according to any predetermined plan. This allows extra flexibility so that the executor of the will can make distributions based on need of each individual recipient under the will. → Read More
The Difference Between Per Stirpes and Per Capita Per stirpes and per capita are terms that refer to the way property will be disposed of under intestacy, which means where there is no will. → Read More
What is a trust? A trust is a entity frequently used in estate planning to help a person distribute property or provide for a loved one after they have passed away. Setting up a trust has multiple benefits and is done for many different reasons. → Read More
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