Estate Planning
What Is a Spousal Lifetime Access Trust?
Posted on July 19, 2024
During the estate planning process, a married couple can take steps to protect their assets and ensure financial security for themselves and their loved ones. For couples who are looking to minimize estate taxes while retaining access to their money and property, a spousal lifetime access trust (SLAT) can be an effective solution. An experienced attorney can help couples who own substantial assets understand how SLATs work and determine whether this solution is right for their financial situation. Understanding Spousal Lifetime Access Trusts A spousal lifetime access trust is an […]
How Can I Transfer Business Assets to Family Members?
Posted on July 10, 2024
For business owners, the estate planning process involves a variety of complex financial issues related to the assets they own, the transfer of these assets to family members, and the plans that ensure that their businesses will be able to continue operating successfully. If you are a business owner, you should begin making plans for how you want to transfer business assets to family members during your lifetime or after your death. Taking the right steps now is essential for ensuring the continuity and longevity of a family business. Family […]
How Can Dynasty Trusts Be Used to Protect and Transfer Assets?
Posted on July 3, 2024
People and families with a high net worth will want to make sure they take the correct steps to protect their assets and transfer them to future generations as efficiently as possible. Dynasty trusts offer a powerful solution for doing so. They can secure wealth, protect against financial losses, and ensure that assets are transferred to heirs correctly. An attorney who is experienced in estate planning for wealthy families can help ensure that dynasty trusts are created and managed correctly. What Are Dynasty Trusts? A dynasty trust, also known as […]
Should I Choose a Domestic or Offshore Asset Protection Trust?
Posted on June 26, 2024
If you own extensive or valuable assets, you will likely want to take steps to ensure that they are protected so that they can be used to address specific needs or passed on to your loved ones. While there are multiple options for asset protection, some of the best tools to use include asset protection trusts. These powerful legal tools are designed to shield your assets from creditors and potential lawsuits. However, understanding which type of asset protection trust to use may be a complicated matter. An experienced attorney can […]
What Steps Should Beneficiaries Take During Probate Litigation?
Posted on June 20, 2024
When a person passes away, her assets are distributed to her heirs through the probate process. During this process, beneficiaries may become concerned about the proceedings, and may need to take legal action to address certain issues. Sometimes this results in allegations of misconduct by the executor of the estate, or a beneficiary who disputes the validity of a will that was filed in probate court. Probate litigation may be necessary to protect the rights of beneficiaries or address other legal issues. The probate litigation process can be complex, but […]
How Can Beneficiaries Protect Their Rights During Probate?
Posted on June 12, 2024
The probate process, in which a person’s assets will be distributed to heirs after the person’s death, can be stressful for everyone involved. Complex estates usually involve a variety of legal and financial issues, and beneficiaries who expect to receive an inheritance may need to resolve concerns that arise during the probate process. Understanding your rights as a beneficiary and knowing when to seek legal action is crucial to make sure your loved one’s wishes will be honored while protecting your inheritance. An experienced attorney can help you navigate these […]
6 Steps to Follow When Updating Your Estate Plan
Posted on June 6, 2024
Planning for the future is important for everyone, and estate planning can ensure that your and your loved ones’ needs will be properly addressed in the years to come. A comprehensive estate plan can ensure that your assets are distributed according to your wishes, and it can provide peace of mind for your entire family. However, as life changes, your estate plan should change too. Understanding the steps for updating your estate plan is essential for ensuring that it will reflect your current circumstances while honoring your wishes. An experienced […]
How Should an Estate Plan Be Updated After a Divorce?
Posted on May 28, 2024
A divorce can upend the lives of spouses and multiple other family members. The end of a marriage will require multiple types of financial changes as each spouse determines how to address their needs on a single income. In addition, it is essential to update estate planning documents to ensure that they reflect the new circumstances of different family members. An experienced attorney can help navigate the complexities of estate planning post-divorce. The Importance of Updating Your Estate Plan Following a divorce, many aspects of a person’s life change, and […]
What Role Do Trusts Play in Legacy Planning?
Posted on May 24, 2024
While planning for the future is essential for anyone, it can be especially important for people and families with a high net worth. Legacy planning can ensure that loved ones are taken care of and that a person’s assets will be distributed according to the person’s wishes, while also upholding the person’s values, promoting causes he or she believes in, and establishing a positive framework that a family can continue to follow. Trusts are a powerful tool in legacy planning, providing flexibility, control, and tax benefits that can help a […]
How Can Power of Attorney Be Used During Large Transactions?
Posted on May 17, 2024
Granting someone power of attorney (POA) can be an effective strategy to ensure that your financial affairs will be handled correctly during significant transactions. A seasoned attorney can help tailor a POA that will meet your specific needs while safeguarding your financial interests and ensuring that your wishes will be followed. Large transactions involving real estate purchases and sales, business dealings, or the management of substantial financial investments can be very complicated. If you are looking to protect your rights and interests in these transactions, the delegation of authority to […]
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Please note: These blogs have been created over a period of time and laws and information can change. For the most current information on a topic you are interested in please seek proper legal counsel.
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