Estate Planning…A must whether you have a little or a lot!

While everyone is celebrating during this holiday season, the manner of these celebrations can vary based on differing family traditions, religions, and geographic regions. Estate planning is no different—protecting your family’s future must be customized to fit your and your family’s unique needs. No matter your level of wealth, it is important to understand that the reasons for estate planning are universal.

Estate Planning Basics: There are several reasons why an estate plan is necessary for everyone. Some of these include protecting beneficiaries, sidestepping probate, protecting assets from creditors, and avoiding a mess in the event of incapacity or death. Estate planning gives you the tools to specify what happens to you, your assets, and even your loved ones should you pass away or be unable to handle your own affairs. Read More

Three Legal Things to Do After a Scary Health Diagnosis

A scary health diagnosis can be emotionally and logistically challenging for many reasons. For instance, how can you take care of your family if you’re physically incapacitated? In addition to working closely with your medical providers, consider these three legal tips: Read More

Who should I pick to be successor trustee?

When you create a living trust, you usually need to choose who to name as your successor trustee. It is crucial that this decision is not taken lightly and that the right person is selected for the job.

If you become incapacitated, your successor trustee will step into your shoes and take full control of your trust assets on your behalf. This means he or she will have full authority to make financial decisions — including selling or refinancing trust assets. In fact, as long as the act does not interfere with the instructions in the trust document and does not breach any fiduciary duty owed, your successor trustee is given broad authority over your trust assets. The authority is very helpful in many circumstances because it avoids costly, time-consuming court proceedings, like guardianship, conservatorship, or probate. Read More