Tag Archives: estate planning attorney

How Does the Trust Administration Process Work?

One benefit of having a trust is the fact that each trust can be unique and flexible to a person’s needs at that time. Some trusts can hold a limited amount of property and must be terminated a short time after the grantor’s death. Other trusts can hold millions of dollars worth of property and can provide assets to beneficiaries for many years. The amount of administering a trust requires can vary according to different factors, such as the type of trust, the number of beneficiaries, the amount of property in the trust, and much more. What Does the Trust…

What Are Durable Powers of Attorney?

When someone suffers a severe accident that results in a person being unable to make any medical or financial decisions regarding their care, family members may find themselves making tough decisions for their loved ones well-being. In these situations, having a person with power of attorney could help in managing the person’s medical and financial needs by a trusted party. A person with power of attorney could help families during extremely challenging times. However, what does it really mean to have a power of attorney and what powers does that person have? A power of attorney is a document that…

How a Mediation Lawyer Could Help You

Mediation is one of the many types of alternative dispute resolution. Mediation is done in confidentiality and carried out voluntarily by the disputing parties. The rules of mediation are easy to understand, and disputing parties can complete the process without additional assistance. Rather than have a resolution imposed by the court, mediation allows disputing parties to talk openly about their issues and reach an agreement together. However, if you are not confident that the opposing party will act appropriately during the mediation process, hire a mediation lawyer. A mediation lawyer can be hired and asked to be present at any…

Do Healthy People Need Living Wills?

A living will is not just for people who are in poor health. Healthy people also need living wills. The Washington Post recently featured an article on why it is crucial that both people in poor health and healthy people alike need to have a living will. If I’m Healthy, Why Do I Need a Living Will? A living will enables you to lay out what type of medical treatment you want to receive in case something happens to you and you are unable to make decisions for yourself at that time. For instance, if you want a ventilator or…

Should I Include End-of-Life Care in My Estate Plan?

End-of-life care is a much bigger deal than many of us realize, and should always be included in your estate plan. The recent passing of music legend Tom Petty serves as an example of how important it is to include end-of-life care in your estate plan. Why You Should Include End-of-Life Care in Your Estate Plan Per CNBC, after Tom Petty was found in cardiac arrest, he was rushed to the hospital for treatment. Eventually, his family had to decide whether to keep him on life support or not. They had him taken off life support, because Petty had included…

Do I Need An Attorney For A Trust Administration?

“Do I need an attorney for a trust administration?”  That depends. If you are asking whether you are required to have an attorney in order to administer a trust, the answer is “no”. On the other hand, if you are asking whether it is in your best interest to have an attorney guiding you through the trust administration process, the answer is an emphatic “yes”! With all of the responsibilities and duties a trustee has, it is to your great benefit to have an experienced attorney guiding you through the process. In addition to protecting your legal rights, working with…

Understanding The Benefits Of A Revocable Living Trust

Of the instruments available to avoid probate, the < revocable living trust is perhaps the best and most flexible option available. You may wonder what about a trust makes it special? The answer is very simple. A normal will substitute is a single account, and doesn’t have the flexibility of a trust. A single account like a life insurance policy or a 401k is like a box; it can only contain the assets within its interior walls. A trust is more like an umbrella that can extend to cover all of the boxes you can possibly collect.  A trust can cover all of the...

Why Do I Need an Estate Planning Attorney For An Estate Plan?

Many online businesses offer wills and trusts through an automated process. The online process generally consists of a fillable questionnaire that, once answered generates an estate plan without the assistance of an estate planning attorney. A good estate plan consists of more than just a will or a trust. Further, if you do not know what the questionnaire is truly asking you, it is difficult to generate an estate plan that accurately reflects your intentions. In order to provide the maximum benefit to your loved ones and to achieve favorable tax consequences, an estate planning attorney will construct an estate…

Estate Planning in California: What is a Trustee?

If you are considering estate planning in California you likely have a lot of questions. This is normal, you should have a lot of questions. Estate planning in California does not have to be stressful or worrisome. With the assistance of a knowledgeable and experienced estate planning attorney in California, you can put an estate plan together that properly reflects your concerns and intentions. If you have questions about estate planning in California you should contact an experienced California estate planning attorney. A trustee is a person that holds legal title to property that belongs to a trust for the…

Planning Your Estate: What is an executor?

You may be planning your estate or you may have been a named executor of someone’s estate. Either way, you likely have questions about what an executor is and what their responsibilities are. The following is intended to be a brief overview of what an executor is and what an executor’s responsibilities are. If you are planning your estate or are a named executor of an estate, contact an estate planning attorney or probate attorney for advice concerning your particular circumstances. An executor is a person nominated in a will to service as the personal representative of a decedent’s estate….