Discussions about wills and other estate planning tools can be hard for the parent as well as the adult child. So hard, that some parents or their kids keep putting it off until its too late. This can leave a daughter unprepared for the fact that she was picked as...
Owners often dream of passing their business on to the kids. The reason for this may be that they wish for the family’s business legacy to live on in the next generation and beyond. It can also provide a steady and lucrative income, which can support families...
Families often set up a durable power of attorney to help ensure that someone can better care for an elderly parent or loved one. While this enables them to oversee their estate, the power is often limited. Often chosen by the courts or when executing a will or legal...
A grantor can design a trust in many different ways to fit the needs of a family. One common estate planning tool is the irrevocable trust. As the name indicates, irrevocable trusts generally cannot be modified once it is finalized, at least not without the permission...
The music world was shocked when Tom Petty died of a prescription drug overdose in 2017. None took the news harder than the Rock and Roll Hall of Famer’s widow and two daughters from a previous marriage. In the months that followed, there were million-dollar...
Some may believe estate planning is only for the wealthy, but that couldn’t be further from the truth. Estate planning is for everybody. If you have any assets or property you want to leave a beneficiary; estate planning is for you. If you have a medical...
A letter from a homeowners association to a family in San Antonio made national news in mid-November. The letter directed the family to take down their Christmas decorations that they put up on November 1, asking, “please remove the snowman until closer to the...
Creating and executing a valid last will and testament is a vitally important act with far-reaching consequences. It is a final gift to loved ones, or it can be a tremendous benefit for a worthwhile charity. More than exercising good intentions, it is essential to...
Investors are always looking for opportunities that have significant earning potential and a minimal amount of risk. With so many hot tech stocks or some other cutting-edge investment making the news, some have forgotten how lucrative and reliable real estate can be...
It is usually best to be as comprehensive as possible when drafting legal documents related to estate planning or other areas of law. However, there are certain types of property or arrangements that should not or can not be in a will. Recognizing what should and...
