The terms ‘revocable trust’ and ‘living trust’ are commonly heard in an estate-planning context. You may hear people say, ‘My house is in trust for my children,’ or something along those lines.
Women live longer than men and generally make less money. This affects how they should prepare for retirement.
The will contract should address what will happen if there is a future dispute over gifts, interpretation of the agreement, changes proposed to an estate planning document and other possible issues.
The recent guardianship case of the McNair family and the Houston Texans NFL Owner, Janice McNair, highlights the importance of working with an elder law attorney to consider alternatives to guardianship for protecting loved ones and navigating complex family dynamics.
Discover why adding your child as a life insurance beneficiary has inherent risks and explore how trusts and appointing a legal guardian can best ensure that your child’s future is secure.
From cherished memories stored in digital photo albums to valuable assets held in online accounts, our digital footprint has become a significant component of our overall legacy.
While many people put off wills until the unattainable ‘later,’ many others simply fail to create a will because they do not really understand what and how the document works.
It’s a conversation fraught with potential tension, in which people examine around concerns about independence, money, responsibility and mortality.
Trusts are a smart and well-known estate planning tool that names or appoints a trustee to administer and distribute the assets according to the terms. However, how often do estate owners ask, “What if something goes wrong, and the trustee breaches their duties?”
Understanding trusts and their tax nuances can empower you to make informed decisions regarding the type of trust you choose for your estate planning purposes.
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