An estate plan does more than allow you to distribute your assets -it lets you name a guardian who can take care of your minor children if you become incapacitated or die. You can name your chosen party in your will or draft a separate guardianship designation...
Year: 2023
Why should you have an estate plan?
A common misconception is that estate plans are only for people with sizeable estates, multiple houses and valuable assets. While they will require more help creating a comprehensive estate plan due to the complexities of their estate, they are not the only ones who...
Withholding financial information during divorce discovery
As part of the divorce property division, courts require each spouse to disclose all financial information relevant to the case, including bank account details and estate properties. This process is called discovery. Unfortunately, some parties intentionally withhold...
Getting a parent to create an estate plan without undue influence
As the parents of adult children move further into their middle age and senior years, even if they’re fully cognitive and relatively healthy, stubbornness can be an issue when it comes to addressing pressing legal matters. It can seem to many adult children like the...
Can my trust receive any remaining assets after my death?
When establishing a trust, there are instances when a person leaves out assets, whether intentionally or not. Some grantors purposefully do not include assets in a trust because it would be disadvantageous. For instance, insurance companies charge higher premiums for...
When is it reasonable to decline the estate executor role?
The events following a death could be unpredictable. Their family might need time and space to grieve or settle essentials following the loss. Additionally, they might face unique legal matters concerning the deceased's estate. The estate could undergo various...
How can you prevent your spouse from wasting marital assets?
Divorce or separation can bring about concerns regarding the management of marital assets. For instance, if both spouses still have access to marital funds in the lead-up to and during the divorce, it can create a risk of wastage or misappropriation. When this...
When should you update your power of attorney?
Estate planning does more than designate assets to beneficiaries. The documents you include in your plan will protect all your wishes should you become incapacitated or die. And one of them is a power of attorney (POA), which authorizes someone to act on your behalf,...
How can your social media activity hurt your child custody case?
From catching up with friends and family to meeting new people and doing business, there is no limit to what you can do on social media, as long as you are not breaking the law, of course. However, if you are currently dealing with a legal matter (criminal or civil),...
3 ways parents can protect their children with an estate plan
Those who have just had children are often keenly aware of how their new family members are totally dependent on the adults in their lives. Infants and toddlers are incapable of meeting their own needs and require 24/7 support from adults just to stay alive. Older...