Estate Planning Lawyers in the USA
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- Can I Put a Trust in My Will?
Many people choose to have either a trust or a will. However, others may actually include a trust within a will. This is often referred to as a testamentary trust. This type of trust does not go into effect until the testatorís death. Other trusts are set up during the lifetime of the person making it. There are important things to understand about a trust of this nature.
- Your Special Needs Child and Estate Planning
When there are children with special needs that may inherit or are dependent on the estate owner, certain provisions are necessary in the estate plan. This could include healthcare, long-term care, planning for the unexpected and hiring an agent to ensure business matters are taken care of while the child adjusts to his or her new role.
- Three Types of Trusts: Differences and Similarities
Trusts are created usually to assist heirs with managing or acquiring assets that may bypass probate or other legal concerns such as dependents that attempt to challenge a will. Other benefits of trusts may include evading certain taxes, lawyer expenses and keeping the income within the family or with a beneficiary that has been chosen by the estate owner.
- Effect of Failing to Account for Unborn Children in an Estate Plan
When building an estate plan, it is crucial to account for unborn children when their conception is known. Without planning for these children, the owner of the estate may have challenges to his or her will, last testament or other legal documents to pass down his or her assets to dependents.
- What New Parents Need to Know about Wills
Every parent should have an understanding of how will work and why one is necessary. Unfortunately, over half of all United States citizens have no will or any preparation for the next generation of heirs, and this could leave state processes passing on assets.
- Small Estate Administration Considerations
Smaller estates usually have less administration complications than their larger counterparts. However, administration considerations should be researched and understood by the owner so that he or she is able to leave enough to beneficiaries or heirs with probate processes known or similar situations mapped out.
- What to Do when a Disability Disrupts Your Estate Plan
Disabilities may occur at any time in the life of an individual. Because of this, it is important to plan properly and adjust the estate plan when an unforeseen disability disrupts the life of the owner of an estate.
- When Irrevocable Trusts can be Modified
Based on the circumstances, it may be possible to modify irrevocable trusts even though they are generally unchangeable. There are five different times when these trusts may be altered to fit the needs of the creator that owns an estate.
- Explanations of Irrevocable Trusts
An irrevocable trust is one that may not be modified once it has been created, so it cannot be revoked, amended, changed or altered in any way. Money, property and holdings placed into irrevocable trusts cannot be removed at a later date, so it is important the owner is aware that this is a permanent action.
- What Is Business Succession Planning?
When someone has a company, small business or an organization that accrues revenue, he or she may be able to transfer the ownership of the entity to a family member when he or she reaches retirement or upon his or her death. This act is business succession planning, and it is important for those with a company that is still thriving rather than sell the business.