A living trust is a legal document which places ownership and control of property into a trust, managed by a trustee for your benefit. Living trusts are often used as part of estate planning and can be helpful in case of incapacity.
Dying intestate can have unintended consequences for pretty much every family type. However, it is especially painful if there are unmarried partners or stepchildren, who are left out under the law in almost every scenario.
The conditions for amending a trust, including who has the authority, is usually set out in the document.
The estate tax is a one-time tax due nine months after someone dies, if their assets reach a certain threshold.
Broaching the subject of estate planning can be difficult, as emotions often run high while discussing end-of-life care and other similar topics. However, having a plan in place can streamline the estate transfer process upon the passing of your loved ones, bringing peace of mind to the whole family.
A power of attorney grants someone (the “agent”) authority to act on behalf of another party (the “principal”).
When you purchase and own a home, your name is on the title to the property, indicating ownership. However, you can transfer ownership of your residence to another person or entity in the form of a real estate trust.
It is very important for unmarried couples to execute estate planning documents to make their wishes clear concerning the rights and responsibilities of their significant other.
It is commonly understood that upon death, our property will pass to someone else. However, the details of exactly how property passes often seem a bit more mysterious.
When someone passes away, whether unexpectedly or not, it can raise questions about who will inherit what. Specifically, you might be wondering whether in-laws have a right to any of the assets of the deceased person.
