Estate planning is the term used to broadly describe the practice of preparing your estate to pass to your chosen beneficiaries upon your death and to allow for its management in the case of your incapacity…[read more]
What is a Will and What Does it Do?
Most people know that a Will is a document that a person writes or has written naming the beneficiaries and Executor of his or her estate. Movies tend to make it appear that a Will is simply read in an attorney’s office…[read more]
What is Probate?
Probate is the court-supervised administration of your estate. If you die leaving a Will, the Will is submitted to the court and serves as an instruction to the judge of how you would like your estate…[read more]
What Is a Trust and What Does it Do?
At its core, a Trust is simply an agreement to hold property for the benefit of an identifiable person or entity- the beneficiary. The agreement is typically between the owner of property, the Settlor or Trustor…[read more]
Does a Living Trust Automatically Pass Wealth to the Beneficiaries?
While the passage of property from a trust to beneficiaries is far easier than the passage of property from a probate estate to beneficiaries, it is still not an automatic process. There are volumes full of laws governing…[read more]
If I Have a Trust Do I Also Need a Will?
Yes, if you have a trust you also need a Will. It is called a pour-over Will and it names the revocable living trust as the beneficiary of the estate. This serves as a safety net to transfer any assets…[read more]
What is Joint Tenancy?
Joint tenancy is a form of ownership of property between two or more people. The fundamental difference between joint tenancy and most other forms of property ownership is the “right of survivorship.”…[read more]
What is the Difference Between a Will and a Living Will?
This is a common question because the two documents sound similar; however, they serve completely different functions. The function of the Will is described above. A living will, on the other hand, is the letter of instructions…[read more]
If I Have a Trust and Have Appointed a Successor Trustee, Do I Still Need a Durable Power of Attorney?
Yes, you still need a Durable Power of Attorney because even if you have established a well-funded trust and have nominated a Successor Trustee to act as Trustee in case of your incapacity, invariably some property…[read more]
