What is in a name?
If you are a beneficiary or a creditor of an estate, or if you are setting up an estate plan, your name means a great deal.
It is not unusual for a person to go by different names, such as the...
Category: Asset Protection
Estate Planning and Transferring Your Season Tickets
In many parts of the United States, football is more than a sport—it is a way of life and a passion that we often share across generations.
While a fan might pass down their love for an NFL or college football team to family, passing down season tickets to...
Are You Ready to Move Away from Home?
Moving away from home is a major milestone in adulthood. For the first time, you might have to secure housing, buy insurance, sign up for utilities, and manage your finances. All of this can feel overwhelming as you simultaneously adapt to a new living environment and possibly a new career.
Difference Between Transfer on Death and Payable on Death Designation
Adding a payable-on-death (POD) or transfer-on-death (TOD) designation to an account allows the assets (money and property) in that account to be passed to a named beneficiary when the original account holder dies.
Like trusts, POD and TOD accounts bypass probate. They are also fast, easy, and usually free...
What Not to Include in Your Estate Planning Documents
One important purpose of estate planning is to facilitate the transfer of ownership of your money and property to your family and loved ones when you pass away. For this transfer to be as stress-free and efficient as possible, it is crucial that estate planning documents be thorough and provide the necessary...
Home Security Systems and Estate Planning
Estate planning helps bring peace of mind and a sense of security, both in our lifetime and beyond. While we cannot predict our fate, we can at least dictate how our money and property will be distributed and ensure that we provide for our loved ones.
Physical security is...
Investment and Distribution Trustees: Why Would I Need Both?
When creating a trust, it is common to name yourself as the initial trustee who is responsible for all aspects of administering the trust. However, when considering who will take over when you can no longer act (either because of illness or death), it is sometimes helpful to divide the responsibilities between...
What is the Garn–St Germain Act?
It is important to let your estate planning attorney know if you own real estate that is subject to a mortgage. Most mortgages include due-on-sale clauses stating that, upon the transfer of the mortgaged property, the entire amount of the debt owed on the mortgage is immediately due and payable. Under the...
Nonjudicial Settlement Agreements
Some trusts are irrevocable as soon as they are created, which means that, in general, the trustmaker (the person who created and funded the trust) cannot terminate or modify it and take back the money or property that it holds. You may wonder why anyone would want an irrevocable trust, but irrevocable...
Why a Trust Is the Best Option to Avoid Probate
Ideally, when someone passes away, the paperwork and material concerns associated with the deceased’s passing are so seamlessly handled (thanks to excellent preparation) that they fade into the background, allowing the family and other loved ones to grieve and remember the deceased in peace.
In fact, the whole business...