The danger of adding kids to bank accounts My plan is to leave my bank accounts to my children after I pass away. Can’t I simply make them joint owners? Despite the fact that it sounds good, that idea is…
This is a subtitle for your new post For estate planning purposes, there are various types of trusts; the most common are revocable and irrevocable. In spite of some similarities, these two major categories of trust serve different purposes in…
Your First Investment Property In the opinion of many individuals, purchasing income-generating investment properties will increase their net worth by adding an additional income stream. Often this is true. The risks inherent in any business venture, however, must be assessed…
Situational questions may arise regarding the effect of a personal injury settlement on your Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI) benefits or whether you should apply for SSDI benefits while pursuing a personal injury claim simultaneously.…
It’s difficult to consider more than just your grief after losing a spouse or long-term partner. There are, however, critical, and timely decisions you need to make regarding your finances and personal estate planning. In reality, estate planning is a…
Meeting with your elder law attorney to discuss your estate plan should be one of your new year’s resolutions. Unfortunately, this pandemic is not over. Although we hope that you won’t become ill, it is extremely critical to have your…
Letters of intent (LOI) can address a number of issues, both business-related and personal in nature. An LOI can be an important part of your estate planning, and even though it’s a formal letter, it can fully represent your wishes…
Some of you may remember a Maltese pet pup named “Trouble” whose human, hotel heiress Leona Helmsley, left a trust fund of $12 million for Trouble’s care. Since then, pet inheritances have suffered a negative reputation. The Value of an…
Many young adults, even those with professional careers of more than thirty years, believe they are too young to worry about estate planning. In their twenties and thirties, young adults often believe they do not own enough to qualify as…
Understanding Probate In probate court, a will is validated, and an executor is appointed to handle the decedent’s assets, debts, and final tax filings, according to law and his wishes. Probate must be initiated by a personal representative or executor…