There are numerous steps that you can take to give money to your loved ones after you pass away. You should understand all of your options, consider the life situation of each person in the family, and make informed choices. With the above in mind, let's look at the value of third party special needs trusts. People With Disabilities If you want to provide resources for a person with a disability, you have to take government benefit eligibility into consideration. Many people with … [Read more...] about What Is a Third Party Special Needs Trust?
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Florence Asset Protection Planning
The importance of protecting your wealth cannot be overstated. There are many effective strategies available in Florence asset protection planning to benefit you and your family now and in the future. If you spend your life accumulating your wealth and assets, you need to do what you can to protect it. Keep in mind that you don’t have to be extremely wealth for your assets to be at risk. Let our asset protection attorneys explain four of these strategies to you. Using Irrevocable Trusts for … [Read more...] about Florence Asset Protection Planning
4 Things You Should Know to Create a Trust
The revocable living trust is a very useful estate planning tool. Contrary to popular belief, you do not have to be wealthy to benefit from a living trust. You continue to control the assets that you convey into a revocable living trust because you can act as the trustee and the beneficiary while you are alive and well. It is possible to change the terms of the trust, and you can even dissolve the trust entirely if you choose to do so. When it comes time to create a trust, understanding these … [Read more...] about 4 Things You Should Know to Create a Trust
Using Living Wills as Advanced Directives
Those who have found themselves or a loved one admitted to a hospital emergency room have likely been asked whether they have an advanced directive. Most people do not, unfortunately. Not having an advanced directive can lead to unnecessary family stress and confusion at a time that is already difficult. If you suffer a serious injury and need emergency care, or if you are suffering from a serious medical condition, it is likely that very important medical decisions will need to be made. … [Read more...] about Using Living Wills as Advanced Directives
Do all Estates Need to be Probated?
A very common question clients ask their estate planning attorneys is whether every estate needs to be probated. True, the main goal for many clients and their estate plans is to avoid probate at all costs. Considering the time and expense of probate, a court-supervised proceeding, it is understandable that many clients have that goal. Generally speaking, most estates need to go through probate, regardless of the nature or amount of assets. However, there are steps you can take to get around … [Read more...] about Do all Estates Need to be Probated?
Including Organ Donation Instruction in Your Estate Plan
Creating your estate plan doesn’t just include making sure your assets go to the right people. It also includes deciding how you want other affairs to be handled after your death. Organ donation is one of the issues to consider when creating your plan. We’ve outlined information below to help you explore your options. If you have any questions, or if you’d like to include your organ donation wishes in your plan, meet with a qualified estate planning attorney. Organ donation is a great way … [Read more...] about Including Organ Donation Instruction in Your Estate Plan
Mortgages Payments and Retirement
One of the reasons that so many people want to have their mortgage paid by the time that they retire is that trying to make mortgage payments when you are living on a retirement income can be very difficult. Though paying off your mortgage before you retire may be exactly the right thing for you to do, it may be better to invest that money in other ways. Before you decide if you should pay off your mortgage, there are a few things that you may want to consider, such as the return on your … [Read more...] about Mortgages Payments and Retirement
Why You Need A Probate Lawyer
When you are planning your estate you would do well to engage the services of a local northern Kentucky probate lawyer. Though you have alternatives, such as a revocable living trust, if you use a last will as your primary vehicle to transfer assets, your estate must pass through the legal process of probate. So when your will is being constructed, it should be done with the expectations of the local probate court in mind. This is something to consider when you see websites claiming that it … [Read more...] about Why You Need A Probate Lawyer
Why Do I Need a Huntersville Revocable Living Trust?
Have you been wondering what the term “inter vivos trust” means and why it should matter to you? Here's what you need to know. This type of trust is actually one you’ve probably read about in your research, but it is more commonly known by its other name – the living trust. Our living trust attorney will explain everything you need to know about a Huntersville revocable living trust. What is a revocable Living Trust A Huntersville revocable living trust is a powerful legal agreement that can … [Read more...] about Why Do I Need a Huntersville Revocable Living Trust?
Do You Need a Trust Administration Checklist?
When it comes to estate planning, trust administration is a critical component. The trustee is the person who is responsible for complete management of the trust property and other important duties. A trustee must know several really important facts to properly fulfill his or her duties. Here is a trust administration checklist to help you through the process. Trust administration can be very complicated Many people do not realize that trust administration is not as simple as just distributing … [Read more...] about Do You Need a Trust Administration Checklist?
