Estate planning is an intricate process, especially when it involves real estate. Land trusts, the Corporate Transparency Act (CTA), and various real estate issues play significant roles in this domain. This article delves into these aspects, providing clarity for estate planners Continue reading
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What Is the Difference Between a Probate and Trust Administration Attorney and an Estate Planning Attorney?
Estate planning attorneys and probate and trust administration attorneys play crucial but distinct roles in the legal processes involving legacy planning, asset distribution, Continue reading
Passing the Torch: Smart Business Succession Strategies
As a business owner, your company is not just an asset but a significant part of your legacy. Ensuring that this legacy endures beyond your involvement requires a thoughtful approach to business Continue reading
Who Will Care for Your Child When You Cannot?
As parents, our primary concern is the welfare of our children. This responsibility doesn’t just involve daily tasks like waking them up for school or preparing meals—it extends into the future, particularly into scenarios we hope never to face. What happens to our children if we Continue reading
Beware of Nonlawyers Acting Like Lawyers in Estate Planning
When it comes to creating an estate plan, many may perceive it as just filling out a set of forms. However, the documents within an estate plan are legally binding tools that manage your affairs during incapacity or after death. This process is much more complex than it appears, requiring Continue reading
5 Essential Legal Documents You Need for Incapacity Planning
Comprehensive estate planning involves more than just planning for your legacy after your death, avoiding probate, and reducing taxes. Good estate planning also appoints people to make legal, financial, and medical decisions for you if you are alive but unable to make those decisions Continue reading Investment and Distribution Trustees: Why Would I Need Both?
When creating a trust, it is common to name yourself as the initial trustee who is responsible for all aspects of administering the trust. However, when considering who will take over when you can no longer act (either because of illness or death), it is sometimes helpful to divide Continue reading
3 Simple Ways to Avoid Probate Costs
The bad news: When a deceased person’s estate (all of their money and property) has to go through probate (the court-supervised process of distributing a deceased person’s money and property), it can be subject to a variety of costs stemming from attorneys, executors, appraisers, Continue reading
Estate Planning for Franchise and Multilevel Marketing Business Owners
Franchise and multilevel marketing (MLM) businesses are often attractive because they offer people the chance to start a small business with a well-known brand and an established business model. However, they present different estate planning challenges than other types of small businesses Continue reading
How to Help Your Loved Ones (and Assets) Avoid Probate
Today, many people are using a revocable living trust instead of a will or joint ownership as the foundation of their estate plan. When properly prepared, a living trust avoids the public, costly and time-consuming court processes of conservatorship or guardianship (due to incapacity) Continue reading