Executing a Last Will and Testament is one of the best things you can do for yourself and for your loved ones. Once your Will has been executed, you need to keep it somewhere safe. While your initial instinct may be to put it in your safety deposit box, doing so is not the best choice. A Huntersville estate planning attorney at Potter Law Firm explains why your safety deposit box may not be the best place for your Last Will and Testament. Your Will and Other Estate Planning Documents In … [Read more...] about Why Your Safety Deposit Box Is Not Safe for Your Will
If charitable gifting is an important part of your life, you may want to make it part of your estate plan as well. Charitable gifting can be handled in several different ways in your estate plan. The type of beneficiary, size and complexity of the gift, and the amount of control you want to have over how the gift is used will all impact how you make charitable gifts in your estate plan. To get you started, a Huntersville estate planning attorney at Potter Law Firm discusses how to make … [Read more...] about How to Make Charitable Gifts
Creating a comprehensive estate plan requires you to consider several factors that might impact you as you age, including the likelihood that you, or a spouse, will need long-term care. If you do end up needing long-term care (LTC), the cost of that care could put your estate assets at risk if you failed to plan for the possibility ahead of time. One way to protect assets is to purchase LTC insurance. Long-term care insurance, however, is not right for everyone. To help you decide if it is right … [Read more...] about What Is Long-Term Care Insurance?
Although a Last Will and Testament remains the most common estate planning document, a trust is not far behind in popularity. If you decide to add a trust to your estate plan, you will have to decide which type of trust to create. A Charlotte estate planning attorney at Potter Law Firm explains five reasons why you might want to include a revocable living trust in your estate plan. Trust Fundamentals A trust is a relationship whereby property is held by one party for the benefit of … [Read more...] about 5 Reasons to Include a Revocable Living Trust in Your Estate Plan
There is a very good chance that you will find yourself involved in the probate of an estate at some time during your life. Whether that is because of your appointment as the Executor of an estate or because you are a beneficiary/heir, you probably want to know how long it will take for the estate to get through probate. Although every estate is unique, a Florence probate attorney at Potter Law Firm explains how long the Kentucky probate process typically takes. Understanding the Probate … [Read more...] about How Long Does It Take to Probate an Estate in Kentucky?
As the parent of a child with special needs, you understand the joy these children can bring to a family and the everyone around them. You may also worry about your child’s future in general and especially about that future if something happens to you. The good news is that many children with special needs live independent lives as adults; however, as a parent you may still want to ensure your child has your financial support even after you are gone. A Huntersville special needs planning … [Read more...] about Do You Need to Incorporate Special Needs Planning into Your Estate Plan?
For your estate plan to continue to protect you and your loved ones as intended it needs to be updated from time to time. Knowing how often to review your estate plan, and when a life event should trigger an immediate revision, is the key to a successful estate plan. The Ashland estate planning attorneys at the Potter Law Firm remind you to review and revise your estate plan as needed. A Routine Review Is Essential You should conduct routine reviews of your estate plan and make any … [Read more...] about Do Not Forget to Review and Revise Your Estate Plan
Creating a comprehensive estate plan requires you to do more than just decide how your estate assets will be distributed after your death. Typically, that means your estate plan will include several inter-related goals and objectives, one of which may be probate avoidance. A Huntersville estate planning attorney at Potter Law Firm explains the benefits of avoiding probate so you can better understand why that should be one of your estate planning goals. Probate Basics When you die, you … [Read more...] about Understanding the Benefits of Avoiding Probate
Estate planning is not something that is ever truly completed. Once you have an estate plan in place, you will need to revisit that plan and revise it numerous times over the course of your life which is one of the many reasons why it is in your best interests to develop an ongoing relationship with your estate planning attorney. Moreover, there are numerous other ways in which an estate planning attorney can help you. The Ashland estate planning attorneys at Potter Law Firm explain 10 reasons … [Read more...] about 10 Reasons You Might Need an Estate Planning Attorney
If you are fortunate enough to be a grandparent, then you understand the joy grandchildren bring into your life. Becoming a grandparent may also prompt you to want to include your grandchildren in your estate plan to make sure they are provided for in your absence. The Ashland trust attorneys at Potter Law Firm discuss how best to make gifts to your grandchildren in your estate plan. Is Making Gifts in Your Last Will and Testament Wise? The Last Will and Testament you executed when you … [Read more...] about How to Gift to Your Grandchildren in Your Estate Plan