If a client’s Estate Plan involves a revocable trust, then the client needs to decide who will serve as trustee after the client dies. Sometimes, clients have several undesirable options if they want to name an individual and they consider naming an institution to serve as trustee. This article … [Read more...]
How Do I Trust Thee…Part II
When clients undertake Estate Planning, they face the difficult decision of naming one or more individuals to serve in various fiduciary positions. If a client sets up an irrevocable trust during life, the client may prefer to serve as trustee instead of naming a third party. Serving as trustee … [Read more...]
How Do I Trust Thee…Part I
When clients undertake Estate Planning, they face the difficult decision of naming a trustee after their death. While Estate Planning documents are effective once signed, they often contain provisions regarding what will happen upon the trustor’s death. Because of the application years in advance, … [Read more...]
Is It Too Late for Medicaid Planning to Help Me?
Experienced estate planning attorneys typically advise clients to incorporate a Medicaid planning component in their estate plan long before they reach retirement age. For one reason or another, however, you may not have done so and are suddenly facing the need to qualify for Medicaid. As you may … [Read more...]
Choose Your Fiduciaries Wisely
Like many people, you may not have given much thought to your choice of fiduciaries within your estate plan. That may be – at least in part – because you are unfamiliar with the duties and responsibilities of the various fiduciary roles. Choosing the wrong fiduciaries can cause an otherwise … [Read more...]
What the Proposed Treasury Regulations Mean for Deductions Under Internal Revenue Code Section 2053
To determine a decedent’s taxable estate, the Internal Revenue Code allows the decedent’s estate to utilize several deductions in various Code Sections, including Section 2053. The Treasury Regulations associated with Section 2053 were favorable to the taxpayer and contained broad language regarding … [Read more...]
Death and Your Digital Footprint
As more and more individuals get comfortable in the digital world, Estate Planning has evolved to address the collection and transfer of digital assets. The widespread use of a legacy contact and password managers gives owners of digital content control in determining what happens to the digital … [Read more...]
Understanding Undue Influence – Part II
Whenever a client’s Estate Plan deviates from the expected disposition, it raises questions for the slighted beneficiaries. These questions usually revolve around methods to have the plan overturned. Most states give clients tools to protect their carefully crafted plans, even after their death. … [Read more...]
Understanding Undue Influence – Part I
Whenever a client’s Estate Plan deviates from the expected disposition, it raises questions. Most of the time, clients have consulted with a competent attorney regarding their reasons for structuring the plan the way that they have. Sometimes, other factors are at play and the plan doesn’t represent … [Read more...]
Common Probate Mistakes
Common probate mistakes are bound to plague you if you have a loved one who has passed away without a Will or a Trust. When a family member passes away, a period of mourning and heightened emotions typically follows. For the Executor of the Estate, or Personal Representative as it’s referred to in … [Read more...]
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