What happens when an individual who is not licensed to practice law provides advice to an individual – does the quality of the advice matter if the individual is unlicensed? This article explores the unauthorized practice of law and how it damages the legal profession. Read on to learn more. … [Read more...]
Why is My Trust so Long?
Clients of quality estate planning attorneys often ask: Why is the trust you prepared for me so long? A trust, or any legal document, is only as good as the certainty of the outcome it produces. A trust of only a few pages may be easier to read through, but it cannot address all the potential issues that may arise. It would be like being a mechanic and only bringing a hammer and a screwdriver. What if you need a wrench? What about a saw? A trust that omits clarifying language removes … [Read more...]
How Using Specific Bequests Could Cost Beneficiaries their Inheritance
Parents often decide to leave one child a specific asset and provide an equalizing cash bequest to the other. This article explores how specific bequests may provide unintended results. Read on to learn more. … [Read more...]
4 Documents Your 18-Year-Old Should Sign
Congratulations! Your child (or grandchild) has become an adult. It's time to celebrate and enjoy this milestone, but it's also time to get serious about planning for the future! It's important to make sure that your child has the legal documents they need in case something happens to them. For example, if they have an accident, who will have access to their medical records? Will someone be able to make decisions about their care if they can't? The first step is to set up these 4 critical … [Read more...]
Estate Planning for Families With Special Needs Children
A special needs trust is a type of trust designed to provide financial benefits to family members with special needs without affecting their eligibility for government benefits. The main benefit of a trust is that it allows you to leave assets to your child or another family member with disabilities while still allowing him or her to qualify for public benefits, such as Supplemental Security Income (SSI) and Medicaid. How does a trust work? A trustee manages the assets in the trust and … [Read more...]
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