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The Trustee’s Role in Trusts

The Trustee’s Role in Trusts

When it comes to estate planning, no matter where you are in the process or whether you’re just starting to consider your options, you probably have questions about how your assets should be distributed. A trust can be a great tool…

Who is an Executor?

Who is an Executor?

When someone names you executor or personal representative of their estate, they believe you will be trustworthy to handle their assets and affairs after their death.  Even though the decedent nominated you to be their executor, you will still need…

Life Care Planning Equals Estate Planning plus Elder Law

Life Care Planning Equals Estate Planning plus Elder Law

Elder law and estate planning are often used interchangeably, but there are significant differences between them.  While some overlap exists between the two, learning and implementing strategies from both law practice types is crucial to prepare for successful aging and…

Gifts and Penalties Under Medicaid

Gifts and Penalties Under Medicaid

Most seniors believe that spending down their assets is the only way to qualify for Medicaid, which helps low-income seniors with limited income and assets afford health care and long-term care. While this is true in some cases, proactive Medicaid…

Wills: What They Can and Cannot Do

Wills: What They Can and Cannot Do

If you die without a will (intestate), the state will distribute your assets and property based on state law and might not align with your wishes. A will is a legally binding directive stating who will receive your property upon…

Your Estate Plan Should Be Revised Upon Divorce

Your Estate Plan Should Be Revised Upon Divorce

It is rare that assets are divided amicably in divorce (especially if there are children involved). While your estate plan may be the furthest thing from your mind during a divorce, without updating your documents, your ex-spouse may receive assets…

What Is the Right Amount of Inheritance for Each Child?

What Is the Right Amount of Inheritance for Each Child?

Even though it is obvious and right to divide assets equally among children in many situations, in some families, having the same inheritance for each child can be inappropriate, deplete the estate’s assets as a result of litigation, or cause…

Your Estate Plan Should Include These Things

Your Estate Plan Should Include These Things

What is an estate plan? According to Meriam Webster, the legal definition of estate planning is “the arranging for the disposition and management of one’s estate at death through the use of wills, trusts, insurance policies, and other devices.” All…

Avoid These Estate Planning Mistakes

Avoid These Estate Planning Mistakes

A lot of Americans perceive estate planning as a chore they can do once and then file until they die. However, without realizing the potential consequences, many people will change beneficiaries on their accounts or make gifts during their lifetime…

Legal Documents You Need to Have

Legal Documents You Need to Have

As we age, we are more likely to have diminished mental capacity or declining health, so it is important to create an estate plan to protect ourselves and our loved ones. We need to make sound decisions regarding our finances…

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