There are both practical and legal responsibilities linked to a trustee when the grantor passes away. These include: Locating and reviewing all of the important papers of the deceased. These items should be found as soon as possible. Change the locks and take any steps necessary to close out and protect the house. Notify insurance […]

It may have been in the best of intentions that you decided to leave an IRA behind to a loved one but this can generate unintended tax problems for the beneficiary. Naming a trust as a beneficiary of your IRA instead can help to protect heirs who are disabled, vulnerable to creditors or who are […]

Deciding to plan ahead for the future often begins with using a last will and testament, but a simple internet search might make it seem as though all you need to do is print out a form, fill it out, and file it away.  This has numerous potential pitfalls, including the fact that the template […]

Increasingly, clients are turning to estate planning lawyers to help with the process of gifting unequal shares or assets to their children. There are several different reasons why a parent today might look to outline these kinds of specifics in an estate plan, but it’s also happening at the same time when family conflict poses […]

Market volatility and the possibility of further estate tax reform all have many estate planning advisers prepared for sudden shifts in strategies, but those aren’t even the issues at the top of the list for most American families. In fact, a new TD Wealth study confirmed last year’s findings that family conflict is the biggest […]

Retirement planning and estate planning should work hand in hand, and while plenty of people have admitted in recent studies that they don’t have the basic tools of an estate plan such as a will or trust, a 2018 study conducted by Northwestern Mutual found that many Americans feel they have inadequate retirement plans.  In […]

Most parents recognize that one of the most powerful aspects of putting together a will is establishing a legal guardian. This is the person who is legally eligible to care for your child if something happens to you and the selection of a legal guardian is a highly personalized decision that must be taken carefully.  […]

Should you ever use two executors?  Provided that you have selected co-executors or one or more individuals to serve in the same role can get along and cooperate, co-executors provide numerous benefits for the purpose of your estate planning. These include:               This can avoid making it seem as though one sibling is favorited above another. […]

  Most people would first turn to an online process to assist with the drafting of a power of attorney, but this is not recommended. State laws vary in terms of how to establish a power of attorney and because of the specifics in the law, it is recommended that your document is executed in […]

There are many different reasons why you might wish to revoke a trustee’s powers. If you put together a family trust yourself, or if you are a beneficiary or a trustee of a trust, there might come a point in time in which you believe that a trustee needs to be removed.  A family trust […]