Prenuptial Agreements: Domestic Planning Tool, Estate Planning Tool, or Asset Protection Tool?
Written by: Wills, Trusts, & Estate Administration A prenuptial agreement, also known as an antenuptial agreement, is a written agreement or contract between parties prior to entering into a marriage. The underlying purpose is to define the
Trusts Are NOT Just for the Wealthy! 7 Common Situations Where Trusts are Used by the Average Person
Written by: Wills, Trusts, & Estate Administration When you hear the term “trust,” or hear someone talking about setting up a trust, or having a trust, or being a trust beneficiary, what thought comes to mind? That the person must be wea
Ensuring Your Final Wishes Are Carried Out: Burial, Cremation, and Pre-Need Funeral Planning
Written by: Wills, Trusts, & Estate Administration Do you ever wonder: Will my loved ones carry out my wishes regarding burial or cremation? And if you have that concern, is there any way to ensure that your final wishes are carried out?
An Overview of Powers of Attorney and Advance Directives (a/k/a, Medical Powers of Attorney)
Written by: Wills, Trusts, & Estate Administration Any “basic” estate plan will (or should!) include a Last Will and Testament, along with a Power of Attorney, and an Advance Directive for Healthcare. Let’s look briefly at these latt
Basis in Assets: What it Means and Why it’s Important for Gifts and Inheritances
Written By: Wills, Trusts, & Estate Administration “Basis” is defined by Black’s Law Dictionary (6th ed.) as “The value assigned to an asset for the purpose of determining gain (or loss) on the sale or transfer or in determining valu
Estate Planning and Medicaid Planning (Two Different Things, or One and the Same?)
Written By: Wills, Trusts, & Estate Administration Estate Planning, when done properly, can be much more than just a Will and a power of attorney. It can include trust planning, asset protection planning, and Medicaid planning. In fact, acco
Pitfalls and Dangers in Estate Planning: Beneficiary Designations on Financial Accounts, Life Insurance and Retirement Plans
Written by: Wills, Trusts, & Estate Administration Beneficiary designation forms seem easy, right? Fill out the form, send it in. These days it’s often easier still—a few keystrokes online and you’re done. In many cases, you accomplish
Estate Planning for Parents of Special Needs Children
Written by: Wills, Trusts, & Estate Administration Special care must be given to planning for a special needs child. “Special Needs”, for our purposes, means a child (whether an adult or minor) who at birth or subsequently thereafter i
The Use of Revocable or Living Trusts in Your Estate Plan – 8 Common Questions
By: Wills, Trusts, & Estate Administration If you’ve read any materials on estate planning, you’ve likely heard of these trusts. For example, you see a lot on-line, in AARP magazine, and in The Wall Street Journal. There exists a sign
8 Common Myths About Last Wills and Testaments
Written by: Wills, Trusts, & Estate Administration As an estate planning attorney, I hear all manner of misconceptions about Wills and other basic estate planning documents. Let’s take a few moments to address (and dispel) some of the more