If a person becomes mentally or physically handicapped and can no longer make rational decisions about their person or their finances, his or her loved ones may consider a guardianship or a conservatorship court proceeding. In a guardianship an...
A durable power of attorney is an important part of an estate plan. With a power of attorney a preselected agent can be granted power over the financial affairs of the individual signing the document. This power can be limited to specific...
While the main objective of estate planning is to help individuals protect their assets and provide for loved ones, there are other important considerations, such as planning for incapacity. In short, it is crucial to plan for the type of medical...
We all need a Will if we have any assets that we are going to leave behind but often extra care is not taken with specific instructions. These specific instructions could have a life changing difference to your children which are without a doubt...
Wills offer many benefits and are an important part of any estate plan, regardless of how much property you have. Your will can ensure that after death your property will be given to the loved ones you designate. If you have children, a will is...
While the terms "estate tax" and "inheritance tax" are often used interchangeably, they are not synonymous. Let's try to clarify the difference. Estate Tax Estate tax is based on the net value of the deceased owner's property. An estate tax is...
The role of an executor or Personal Representative is to effectuate a deceased person’s wishes as declared in a will after he or she has passed on. The executor’s responsibilities include the distribution of assets according to the will, the...
When creating a living trust, it is common practice that the person doing the estate planning will name themselves as trustee and will appoint a successor trustee to handle matters once they pass on or become incapacitated. If you have been named...
A Revocable Living Trust is a common estate planning tool that has many benefits. As a revocable trust, the person creating the trust, the grantor, retains the ability to change or rescind the document at any point. The document is called a...