Minors, Adults and Capacity

Posted Posted in Beneficiaries, Capacity, Estate Planning, Minor Dependents

On November 6 my oldest nephew turned 18 years old. By law he is officially an adult, able to vote and to open an IRA. From the standpoint of basic rights, there is very little difference between him and me (except for a curfew). This includes the right to sign contracts, to manage our own accounts, to choose our friends and partners, to conduct business, and to essentially perform every other function that the law […]

Protecting Your Minor Children With a Revocable Trust

Posted Posted in Beneficiaries, Estate Planning, Minor Dependents, Revocable Transfer

Estate planning has many key objectives, but in my opinion, the most important of them all is the protection of vulnerable beneficiaries – especially minor children. I have met with and personally know many of young parents who are homeowners who have some savings, retirement and a term life insurance policy, and yet have not done any estate planning.  It cannot be stated strongly enough that is more important for those parents to plan their […]