You have your new trust, or maybe you have had it for years. You were told that your trust avoids probate, but only if you fund your trust. But what is funding? Funding is the titling of your assets consistent …
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Joint Ownership Fraught With Peril
You may have joint accounts, joint deeds or other joint assets. Many people, including most married couples, use joint ownership of their assets as their own self-made mini estate plan. You may be lucky and have joint ownership work to …
Serving As Guardian
You have been asked to be the guardian of the children of one of your siblings or a close family friend in the event of that person’s incapacity or death. You are flattered that someone would trust his or her …
Medical Decision Making for Young Adult Children
It is the high school graduation season and now time for my annual column for young adults. If you have any adult high school or college aged children, they are responsible for making their own medical and mental healthcare decisions. …
With Estate Planning Fees You Get What You Pay For – Part II
There are a lot of different types of estate plans being sold out there. It is best that you know what you are buying. In last week’s column, we discussed the three most common types of will estate plans that …
With Estate Planning Fees You Get What You Pay For – Part I
I regularly get asked, “How much does a will cost?” Or, “How much is a trust?” Well, this is not a simple question to answer because a will or a trust is only a single component in an overall estate …
May Savvy Separate Tr Offer More Benefits
For most of my married clients, I typically prepare separate trusts for each spouse instead of a joint trust for both spouses. I am occasionally asked why. The reason is very simple, it is what most of my clients want. …
May Savvy You Can Provide For Your Children – Lifetime Trusts
You do not want to disinherit your children, but money management skills were not the talents that God has given them. The kids went through Grandma’s inheritance in less than a year. You may not want that to happen to …
Spouse in a Nursing Home
Your spouse is in a nursing home. You are paying out $6,000 or more per month for his or her care. You have been told that you can only keep ½ of your combined assets and have to spend down …
Medical Directives
If you are permanently mentally incapacitated and are on life support, would you like your loved ones to be able to make decisions for you? Would you like to have your loved ones to be able to withhold and withdraw …