There are numerous different types of legal devices that can be used in the field of estate planning. It is unrealistic to expect a layperson to be aware of all of them. This is one of the reasons why it is important to work with a licensed estate planning attorney when you are making preparations for the future. Different circumstances will call for different courses of action, and there is the "right tool for the right job." With this in mind, let's look at the QTIP trust. Protecting … [Read more...] about What Is a QTIP Trust?
When you think about marriage you may envision two fresh-faced and idealistic young people who are head over heels in love with one another. Neither party has had the opportunity to accumulate any significant financial resources but the hopes are high for future success as partners in life. Under this scenario a prenuptial agreement may seem unnecessary and even kind of cold. The truth is, a prenuptial agreement may not be appropriate for young couples entering into their first … [Read more...] about Prenuptial Agreement Provides Protection
Many parents put off their need for an estate plan. However, as a parent, it’s important to plan as soon as possible so that you and your family are protected throughout life. One of your most important decisions is the naming of a guardian. Naming a good guardian ensures that your children will always be in good hands. Take a look at the example below to better understand this important estate planning need. If you have any questions, or if you’d like to begin your estate plan, consult with … [Read more...] about The Importance of Using Your Estate Plan to Appoint a Guardian
If you’re like most people with a blended family, you would like your family to be as happy as the Brady Bunch. Carol became “Mom” to Mike’s sons and Mike became “Dad” to Carol’s daughters. As viewers, it was easy to forget that the Bradys were a blended family. In our own lives, it’s not so easy to forget. And, we shouldn’t. Blended families call for caring communication, and careful estate planning. Without these things, relationships can be strained, mistrust fostered, and children … [Read more...] about Blended Families: Fostering Good Relationships