Posts Tagged 'wills'

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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Wills and Trusts – a Legal Product or Legal Service?

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The questions about creating and drafting your own wills and trusts just keep coming. In the technical age, where clients are savvy and used to instant gratification and purchasing on the web, it seems logical that people would want to buy wills and trusts from a website or create them themselves. But, we hear or read stories all the time about the problems with this approach. Fox Business Report ran an article today about Ann Aldrich who purchased ...

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Planning for Life and Estate Changes in 2014

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It’s a new year. Many people reflect on the past year and their accomplishments (or the lack thereof). I try to look back and see how past events will influence my life and actions in the new year. You might have experienced meaningful life changing events; marriage, birth, death, retirement, etc. All of these events should encourage you to evaluate or re-evaluate your estate plan. Do you need to create or change a will, trust ...

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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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Wills – Should You Do-It-Yourself?

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Believe it or not, I get a lot of questions about creating a will from a prepackaged program, online, or even by yourself.  Is it good enough to do it by yourself, without legal counsel?  In most cases, I would say an undeniable and emphatic “NO”!  A will is a set of instructions that direct how a person’s property is to be distributed after death.  For a will be be valid and effective, it must comply with the legal formalities ...

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Nevada Domestic Partnerships – Planning the Rest of Your Life Together

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Planning for Your Life Together – And Beyond

Now that you’ve decided to register your domestic partnership, you need to plan for your life together.  If you and your partner decide to be just roommates you have no property or inheritance rights.  But, as registered domestic partners, you have both.  Proper financial and estate planning are important steps in understanding each others wishes about your property and respecting how each of you want your affairs handled should you die.

Financial Considerations.

Everything you ...

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Trusts in Estate Planning – Do You Need One?

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Think of a trust as a box in which you put your property; your house, boat, cars, bank accounts, etc.  Trusts serve several purposes:

1.  Avoid probate;

2.  Avoid or eliminate estate taxes;

3.  Guardianship in the event of incapacity;

4.  Continuity of asset management; and

5.  Asset Protection

Most people use a trust because they want to spare their family and heirs the time and expense of a probate proceeding.  If you put your property into a trust, the court will not be needed when ...

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