To evaluate the pluses and minuses of wills and trusts, it is helpful to understand three important principles of law: (1) probate, (2) the minimum value of a taxable estate, and (3) the manner in which assets are titled or owned.
With or without a will, property that is in your name only (i.e., not owned jointly with one or more persons or not held in a trust) is subject to the probate process. Fortunately, that process has been simplified and does not generally cause major hardships for devisees and heirs.
While revocable living trusts offer many benefits, especially for people with substantial assets or complex planning situations, there are simpler and less expensive options that may prove just as beneficial as a trust.
A power of attorney is a legal document that a person uses to give another person the authority to sign documents and otherwise transact their affairs.
Every day, thousands of elderly Americans are physically, emotionally or financially abused by family members, "friends," paid caregivers, door-to-door salespeople and telemarketers.
The purpose of this article is to give a cursory knowledge of the new changes to the law and to highlight areas that could affect a person’s trust documents.
When a person can no longer manage his or her own affairs, a court-ordered guardianship is one solution, but it's not the only solution.
A parent, your spouse, or a close friend or relative has passed away. If you have any responsibility for the decedent’s affairs, one of the first questions that will enter your mind is, "What do I do now?"
If a relative or friend has named you to be their personal representative, you may feel honored ... but you may also be concerned about what you're supposed to do.