With significant funds in the account, the family may need to file probate to claim the funds. However, most states follow a small estate affidavit process.
Category Archives: Estate Planning
16
Oct
Oct
Many families purchase life insurance to protect their income. This protects the family’s source of income which would otherwise end due to the death of the parent.
Assets, California Law, Estate Planning, Trusts, Uncategorized
Domestic Asset Protection Trusts Explained
02
Oct
Oct
DAPT laws vary significantly by state. Residency requirements vary from state to state, as does the required connection of the grantor with the DAPT state.
Estate Attorney, Estate Planning, Estates, Inheritance, Trusts, Uncategorized, Wills
10 Types of Trusts
11
Sep
Sep
A generation-skipping trusts allows you to distribute your money and property to your grandchildren, or even to later generations, without taxation, by using your lifetime exemption to offset any tax that could be due.
05
Sep
Sep
A trust (specifically, a Revocable Living Trust) (RLT) is a formal relationship. In it, the trust-maker names a trusted individual (trustee) to manage accounts and property.
28
Aug
Aug
Part 2 in a 2-Part Series Low Interest Rates & Estate Planning Last week, we began a two-part series about how to share your wealth through estate planning. To read part one in the series, click here. This week, we conclude by examining other options for sharing your wealth. We examine charitable gifts, including intrafamily loans.
21
Aug
Aug
Your attorney can design the trust to pay the grantor a stream of income at least annually and over a specific term of years. At the end of the specified term, payments end.
Assets, Estate Planning, Heirs, Trusts, Wills
Why Your Heirs May Receive a Smaller Inheritance Than They Expect
14
Aug
Aug
Often, family members “lawyer up” and settle in for a long, drawn-out court battle. In such cases, attorney fees often spiral into the tens and even hundreds of thousands of dollars.
Estate Planning, Estates, Heirs, Inheritance, Uncategorized
Why Your Heirs May Receive a Smaller Inheritance Than They Expect
07
Aug
Aug
Depending on the size of the estate and the nature of the accounts and property held by the estate, these expenses reduce the final amount available for heirs or beneficiaries.
(Part 1 of a 2-Part Series) After months of near confinement in our homes, most Americans are stir-crazy. As such, we are eager to travel to make vacation plans. As more states are open, take these precautions before your summer travels.