Consider Using a Trust to Protect Your Child’s Inheritance from Divorce

You’ve worked hard to leave your children a financial legacy, and the last thing you want is for half of your child’s inheritance to walk out the door with an ex-spouse if he or she gets divorced someday.  But, under today’s laws, that could actually happen if you don’t safeguard your family’s assets and plan ahead.

Although it isn’t pleasant to think about, you may have to take legal action to ensure that your married child inherits the assets you planned to leave them.  In many circumstances, an estate planning attorney will recommend that clients leave assets to their children in a trust.  Passing down your assets in a trust can keep them separate and out of reach from a divorcing spouse, as well as other creditors that may be knocking on your child’s door.

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How To Choose The Right Cabin Trust Attorney

Choosing the right cabin trust attorney to draft and execute a cabin trust for your family’s cabin can have repercussions in your family for decades to come. Consider this: most attorneys, including the vast majority of estate planning attorneys, have never drafted a single cabin trust. Most attorneys that specialize in estate planning are concerned […]

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3 Estate Planning Mistakes to Avoid

Recent studies have shown that only a little more than half of all Americans have a Will or Trust document in place to direct their estate after they pass away, and that the vast majority of those documents have not been updated in the last five years.  Even worse, it’s been reported that most adult children are unaware if their parents even have an estate plan and would be unable to find estate planning documents, if they did indeed exist.  These can lead to serious troubles down the line and are among some of the top mistakes people make regarding their estate plans.  We have compiled this list of additional estate planning mistakes that you should be aware of, and hopefully avoid:

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Preparing to Meet With an Estate Planning Attorney

A thorough and complete estate plan must take into account a significant amount of information about your assets, your family, your property, and your wishes during and after your life.  When you make your first appointment with an estate planning attorney, ask the attorney or the paralegal if they can provide a written list of […]

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Borrowing from your retirement accounts: Issues to consider

So you have credit card debt, overdue mortgage payments, or suddenly need to buy a new car. We’ve all been there. You need money now, and your retirement accounts continue to climb. Fortunately, many employers allow you to take out loans on these accounts, but should you really begin spending that money before you retire? […]

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The Basics of Conservatorships

Sometimes, bad things happen to good people. A tragic accident. A sudden, devastating illness. Have you ever wondered what would happen if a loved one became incapacitated and unable to take care of himself? While many associate incapacity with a comatose state, an individual, while technically functioning, may be considered incapacitated if he cannot communicate […]

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Guardianships & Conservatorships and How to Avoid Them

If a person becomes mentally or physically handicapped and can no longer make rational decisions about their person or their finances, his or her loved ones may consider a guardianship or a conservatorship whereby a guardian would make decisions concerning the physical person of the disabled individual, and conservators make decisions about the finances. Typically, […]

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