For many people, what comes to mind when they think about estate planning, is how much money they will be able to save in taxes as assets are passed from one generation to the next. While that is certainly an important part of any plan, there is much more to consider so that a person and his or her family are protected for the future.
A will and a trust are separate legal documents that typically share a common goal of facilitating a unified estate plan. While these two items ideally work in tandem, since they are separate documents, they sometimes run in conflict with one another--either accidentally or intentionally.
I have a house with a mortgage that I purchased a little over a year ago. At the closing, I asked if I could put my daughter on the deed with me. However, the mortgage company wouldn’t allow it. I don’t want her to have to go through probate, because this is my only asset. Is there a way I can leave the house to her, so she can sell it and pay off the mortgage?
While most of us had stockings and menorahs on our minds, President Trump on Dec. 20 signed the Secure Act that makes the most significant changes in retirement accounts we’ve seen in years.
Estate planning attorneys will agree, it’s better to die with a properly drafted will than to die without one. If you don’t have one, consider getting one.
Property deeds are used to convey real property from a grantor (seller) to a grantee (buyer). For a deed to be legally operative, it must include the identification of the grantor and grantee, and the adequate description of the property.
This time of the year is a great time to revisit your estate plan, so you can ensure your legacy is protected for years to come.
I am named successor trustee in my parents’ trust. When the time comes, how do I sell the home and the other assets?
You know that you can always refuse life-sustaining medical treatment. The tricky part comes when you are no longer able to understand your options or communicate your wishes to the health care professionals.
Taking over a loved one’s affairs is not easy. However, what can make the task less daunting, is to make sure you get off on the right foot by obtaining the necessary legal documents and other information which will make your job much easier.
