If you do not appoint the custodian, the court will appoint someone to control and manage your children’s inheritance until they reach a pre-set age of majority. This is necessary because minors legally cannot own money or property on their own.
Category Archives: Inheritance
Supporting a special needs child or grandchild can be expensive. While you are working or have a stream of income, you can allocate money as you see fit.
Part 1 in a 2-Part Series Children bless us. From the day you or your wife gives birth, you start planning for your children’s future. You wonder about their interests, occupation and future spouse. These issues concern families most of the time. What’s more, they emerge as even more important in uncertainty, such as with […]
Part 3 of a 3-Part Series Last week, in part two of our three-part post about probate-proof estates, we covered one option for avoiding probate with a strategy we called the “Piecemeal Approach.” Click here to read that post. And to catch up by reading part one, which introduced the concept of how to avoid […]
Part 2 of a 3-Part Series Last week, we began a three-part series about probate-proof estates. In part one, we covered reasons you should try to avoid probate. This week, we continue our series by focusing on a strategy we called the “Piecemeal Approach.” Finally, next week, we will conclude the series by delving further […]
If your adoption is not yet final, but you love the child you intend to adopt and want to provide for him or her, you need to specifically name the child in your estate planning documents.
It is important to contact an experienced probate and trust administration attorney to help you with the process, as well as any other legal matters that may arise during this difficult and emotional time.
Make sure that your family members have proper medical powers of attorney and advance directives in place. These documents contain their wishes about how they would like their medical care to be handled if they are not able to make decisions for themselves.
If you are planning to speak to your parents about the need for an estate plan, it is important to try to include any siblings in the discussion to avoid giving the impression that you are trying to influence or control your parents’ choices.
Last week, we began a two-part series about designating beneficiaries for your life insurance policy. Click here to read that post. Here is part 2. Protection against your creditors.