Your estate attorney can set up joint ownership to create and transfer property. However, this solution comes with its own set of concerns. TOD and POD accounts efficiently and immediately transfer funds to the named recipient after the account owner’s death, outside of probate.
Author Archives: Skvarna Law
Most people think disability affects other people. However, approximately 61 million U.S. adults live with a disability. That translates to one in four adults. What’s more, between one and four 20-year-olds become disabled before reaching retirement age.
We live in an increasingly digital world now. And courts increasingly determine whether a will created and stored on a computer, tablet, or cell phone and e-signed meets the traditional requirements of being “in writing” and “signed by the will maker.”
People sell most NFTs in an online marketplaces. Some of the more popular NFT marketplaces include OpenSea, Mintable, Nifty Gateway, Rarible, and Zora. Purchase NFTs using cryptocurrency (crypto).
Retiring or stopping your employment means losing one type of income. For many, their retirement accounts will provide a large portion of the money they will be living on during their retirement; however, this does not happen overnight, it takes advance planning.
After a Financial POA springs, the person nominated to handle your affairs may do what you would have otherwise done sans incapacitation.
A key lesson is that no one knows when they will pass away. Even someone as important and well-versed in the law as Abraham Lincoln was caught unprepared for his untimely demise, sadly leaving others to guess what his wishes would have been with respect to his property.
The reasons a trust-maker creates a trust emerge as important. However, your intent or purpose for creating a trust imparts legal ramifications. Therefore, a trust-maker must express (in writing) their intent or purpose for creating the trust.
The trust created often leaves instructions to the trustee. In these, they note that older children earn an advancement from the common trust. They use this to pay for expenses such as buying a home or starting a business.
When you die, your accounts and property pass to minor children in equal shares. However, such money often proves insufficient for individual heir’s expenses.