Springing Financial Powers of Attorney

Estate planning is about more than preparing for the inevitable. A good estate plan should also consider the unexpected. Your plan may have detailed instructions for what happens when you are no longer around, but what if something goes wrong while you are alive?

If you can no longer manage your affairs,...

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Bankruptcy’s Effects on Estate Planning

Bankruptcy may be one of the last things on your mind when you are creating an estate plan. Fortunately, the number of bankruptcy filings has declined over the past several years, but there were still a whopping 544,463 bankruptcy filings in 2020.[1] What happens to your estate if you file...

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Are Family Limited Partnerships under Attack?

A popular estate planning tool that has long been used effectively may be facing new challenges under the current administration in Washington, DC. The family limited partnership (FLP) is an estate planning tool that allows families not only to transfer significant amounts of their wealth to succeeding generations while reducing estate, gift, and...

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Why Is Joseph P. Kennedy Named in My Trust?

The Rule Against Perpetuities

The rule against perpetuities (RAP), a common trust provision often referred to as a “savings clause,” comes from a somewhat arcane rule that originated centuries ago in English trust law to prevent land-owning nobility from locking up their family wealth in trusts that could exist forever. A perpetuity has...

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Why You Might Want to Go through Probate

Avoiding probate is a common goal for individuals deciding how they want their money and property to be handled when they pass. It is a worthy one and is regularly promoted by estate planning attorneys across the nation. However, probate is not an inherently bad process and does not always need to be...

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