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ESTATE PLANNING IS THE FIRST STEP, BUT WHAT IF THE TRUST ISNT FUNDED?

You probably recommend trusts over wills to many of your estate planning clients because revocable living trust-based estate plans provide a comprehensive solution for many of your clients’ needs. Of course, it’s not necessarily an either/or scenario. Your clients should also use a will to take care of any assets not in their trust and [...]

By |2021-11-19T15:39:15+00:00November 19th, 2021|Estate Planning|Comments Off on ESTATE PLANNING IS THE FIRST STEP, BUT WHAT IF THE TRUST ISNT FUNDED?

Helping Clients Plan for Community Property in a Separate Property State

Helping Clients Plan for Community Property in a Separate Property State If you are an estate planner, chances are you practice in a separate property (or common law) state. After all, there are only nine community property states. But that does not mean that community property will not appear on your radar. Make sure to [...]

By |2021-10-29T19:06:20+00:00October 29th, 2021|Estate Planning|Comments Off on Helping Clients Plan for Community Property in a Separate Property State

Redoing Your Loved One’s Estate Plan

In a constantly evolving world, having the flexibility to adapt to changing circumstances is a valuable trait. But is flexibility less important in estate planning than in other areas of life? In many situations, you may not want your estate planning documents to be flexible after you have signed them. If your planning could be [...]

By |2021-10-22T13:37:36+00:00October 22nd, 2021|Estate Planning|Comments Off on Redoing Your Loved One’s Estate Plan

Britney Spears: A Cautionary Tale about Conservatorships

Even if you do not listen to pop music, it has been hard to ignore the recent news about Britney Spears and the #FreeBritney movement trending on social media. What is this movement all about? And why should average Americans care? In 2008, pop singer and superstar performer Britney Spears had a widely publicized emotional [...]

By |2021-09-24T19:56:12+00:00September 24th, 2021|Estate Planning|Comments Off on Britney Spears: A Cautionary Tale about Conservatorships

Is Our Home Community Property or Separate Property, and Why Does It Matter?

When two people get married, the property they obtain during their marriage is called marital property. This includes anything from real property like homes and rental properties, to stock options, investment accounts, heirlooms, and employment income. A common assumption is that spouses want to share their property with each other. This assumption is not always [...]

By |2021-09-10T12:35:37+00:00September 10th, 2021|Estate Planning|Comments Off on Is Our Home Community Property or Separate Property, and Why Does It Matter?

Should you have Co-trustees when preparing your Estate Planning

When clients select a successor trustee for their trust, they frequently choose one person to serve as a successor trustee at a time. Many attorneys continue to recommend that only a single trustee be appointed to avoid the potential for disagreements or conflicts between co-trustees during the trust administration after the trustmaker’s death or disability. [...]

By |2021-08-27T20:46:00+00:00August 27th, 2021|Estate Planning|Comments Off on Should you have Co-trustees when preparing your Estate Planning

Basis: What You Need to Know

“Basis” is a term used frequently in tax law. But for many, the term is unfamiliar and intimidating—perhaps something they feel is better left to a certified public accountant to worry about. Nevertheless, a basic understanding of the concept can be very helpful for understanding important estate planning strategies used by your attorney and financial [...]

By |2021-08-20T10:53:50+00:00August 20th, 2021|Estate Planning|Comments Off on Basis: What You Need to Know

Estate Planning Is More Than Just Death Planning

Many believe that estate planning is simply instructions on how to distribute your assets when you pass away, but the reality is that proper estate planning can do much more. While one major benefit of estate planning is to provide for your family and friends when you are gone, there are many benefits for you [...]

By |2021-07-23T20:10:46+00:00July 23rd, 2021|Estate Planning|Comments Off on Estate Planning Is More Than Just Death Planning

Caught in the Undertow: How No Estate Plan (or a Bad One) Could Leave Your Family Overwhelmed

Many people love to spend part of their summer vacation at the beach, enjoying the ocean and sunshine. But there may be unseen dangers that are crucial for beachgoers to keep in mind: For example, the undertow is a current of water, often quite powerful, below the surface, that is moving away from shore when [...]

By |2021-07-02T13:44:31+00:00July 2nd, 2021|Estate Planning|Comments Off on Caught in the Undertow: How No Estate Plan (or a Bad One) Could Leave Your Family Overwhelmed

Living, Testamentary, and Constructive Trusts: Are They All the Same?

In the world of estate planning, terms that refer to legal documents such as wills, trusts, powers of attorney, and healthcare directives can be confusing and even overwhelming at times. What is a will, and how does it differ from a trust? What distinguishes a springing power of attorney from an immediate power of attorney? [...]

By |2021-06-18T09:22:13+00:00June 18th, 2021|Estate Planning|Comments Off on Living, Testamentary, and Constructive Trusts: Are They All the Same?
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