Posts Tagged 'death'

Why You Are Never to Young To Plan For Death

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We read stories all the time about young people who die unexpectedly. Take the example of a 39 year old man who died in his sleep the day before his twins were born. Or the 22 year old competitive bike rider who died of a heart attack. Or a 31 year old man who drowned in a lake.

In the latter case, failure to plan meant the young man’s girlfriend and child, with whom he lived, ...

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Paying for Your Estate Plan: Why Does It Cost So Much For A Trust and Will?

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The first question from a potential client is “How much does it cost to do a will?, trust?” The answer is always “It depends on your needs and desires”. In fact, my question back should really be “How much are you willing to pay for peace of mind”? Because that is what a properly drafted estate plan gives you. It is not a mere collection of papers that you put away and never look at ...

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Estate Planning Actually Works! A Lawyer’s Perspective – Part 1

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I’ve been practicing law for 20 years, the last 10 almost exclusively dealing with estate planning and probate.  All that time I’ve been advising how important good estate planning is and what a gift to your children to prepare and plan so that they will have an easier time handling things when you’re gone.  But, let’s face it, was I right all that time?  As a probate attorney, most of the time I deal with situations either where there was ...

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Treating Heirs Differently Can Cause Legal Headache

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Believe it or not, it is not unusual for parents to treat their children differently when drafting a will or trust.  One child may be more financially successful than another.  One may have more children than another.  There may be an estrangement between parents and a child.  Sometimes, parents want to repay a child who has supported them, either physically or financially.  There may be a difference in age requiring that money be set aside for a younger child.  For ...

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Planning for the Death of a Business Partner

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It’s not easy coming up with ideas for a blog.  So, I have decided to seek out guest bloggers who can contribute to the arena of estate planning.  My first guest blogger is Matthew Heifner, owner of the Matthew Heifner Insurance Agency in Las Vegas, Nevada.

The choices for Business Succession:  Buy-Sell Agreement funding for partners

Thinking ahead and preparing for the unexpected is what made your company successful.

So it’s just as important to think about the options you or your partners ...

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What to do When a Loved One Dies

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When a loved one dies you may be overwhelmed with emotion as well as wondering what steps you should take.  First of all, in most cases you don’t need to do anything right away except grieve  for your loss and surround yourself with loving and helpful family and friends.  Of course, you will want to contact friends and family and make any funeral or burial arrangements if those have not already been pre-planned.  As for any other items, rest assured ...

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So You Have A Living Trust – Now What?

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So, you finally got around to doing an estate plan and your attorney recommended a revocable living trust.  Why?  Because you want to avoid estate taxes, avoid probate, provide for your minor children, provide a vehicle for asset management should you become disabled, or all of the above.  But, now that you went to all that trouble, not to mention expense, do you know what to do?  Most people don’t know how to fund their trust.  Sometimes their attorney will ...

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Transfer-on-Death Deed – Avoiding Probate in Nevada

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How do you transfer title to your home after you die?  In most instances, property can only be transferred through a trust or the probate process.  As I’ve discussed previously, probate is usually not the desired approach as it takes time and money.  You can put your property into a trust, but if that is your only significant asset, the cost and complexity may not be very appealing.  Some people just add their children to the title while they are ...

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What is Probate and Why Should You Avoid It?

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Probate isn’t always bad, but most of the time, it is a waste of money and time.  Probate is a court supervised legal process whereby the court makes sure your debts are paid and any remaining money or assets distributed to those people entitled to them.  What this means is that if you don’t plan properly before you die, your family will be stuck paying a lot of attorneys fees, court costs and wasting a lot of time before receiving ...

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