Who is entitled to a copy of a will? During the process of distributing an estate’s assets according to the will, it is not uncommon for interested parties to request to view copies of the will. Whether or not a party requesting an opportunity to view and receive a copy depends on who they are, their role in creating or managing the will, and their relationship with the deceased. → Read More
What is a legacy trust? Sometimes known as a wealth trust, a legacy trust is an irrevocable trust that lets you set aside assets for future generations. The legacy trust is a flexible asset protection and saving option that allows you to use funds for emergency situations or create an estate to pass on. → Read More
Trustee Guidance: How to Distribute Trust Assets One of the most important functions of the trustee is distributing the trust assets according to the wishes of the creator of the trust (trustor) as set forth in the trust agreement. With proper planning, a trustee will be able to navigate the distribution of trust assets with the assistance of a bank, lawyer, or financial adviser either appointed by the trustor or hired by the trustee to manage the legal details. → Read More
What instructions should I leave behind for my children’s guardian in the event of my death? Determining a guardian for your children can be a difficult decision. Your children’s guardian will have the authority to make or influence all parental decisions for your children including where they live, the schools they attend, church practices, and more. Making preparations and instructions in advance can ease the transition for those you and/or your spouse leave behind. → Read More
Step-by-Step Guide to the Probate Process Probate is the legal process through which the court oversees the estate of a deceased person to make sure the debts are paid and the estate is properly distributed to the heirs. Many people think that probate applies to you only if you have a will. Not so! Your estate will be probated whether or not you have a will. → Read More
Inheritance Money: Using a Spendthrift Trust to Control Spending by Heirs If you are worried that your child, grandchild or other beneficiary may be reckless with an inheritance’spending it down within a few months or years after receiving it’there are ways to provide for your heirs’ long-term security while also protecting your hard-earned assets. One option is to create a type of irrevocable trust known as a Spendthrift trust. → Read More
Does marriage affect my will? Marriage is a life-altering event that dictates the need to make some changes, among the most important, you and your new spouse should create new Wills. → Read More
What is a protective trust? The term ‘protective trust’ is something of an umbrella term in the U.S., covering trusts that protect a person’s estate and/or assets. A protective trust refers to a trust that is designed to make sure that the income from the trust goes to the beneficiary for whom it was designated. → Read More
What is elder law? Elder law is an area of law that focuses on the legal needs of the elderly. These needs generally include retirement planning, life insurance, medical costs, and estate planning. Consult an elder law attorney with questions about elder law, retirement planning, or suspected elder abuse. → Read More
How to Write a Power of Attorney A power of attorney is a legal document granting a trusted individual the right and responsibility of caring for the assets and overall well-being of another person when they become incapacitated. While all power of attorney documents differ in their precise wording, there are some common provisions that you can use to guide your decisions, the first being, granting the assigned person authority to act on your behalf. → Read More
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