A “Simple Will” Is Not Enough

"I need an estate plan, can you just draft a 'Simple Will' for me?"

I've heard this request more times than I'd like to admit and it makes me cringe. It's not because I can't fulfill the request, but because the request is just wrong. Let me explain.

Having a Will is a good, making it simple is good, and knowing you need an estate plan is good. However, having a Simple Will does not mean you have an estate plan. A Will is just one of many tools used to build an estate plan. On its own, a Will is just a Will; and it only works after you pass away.

Continue reading

3 Powers to Consider Giving to a Trust Protector

Many estate plans contain irrevocable trusts designed to continue for the benefit of a spouse’s lifetime and future generations. It is important that these trusts include a trust protector; with the power to change trust provisions as circumstances, beneficiaries, and governing laws change.

Continue reading

How Powers of Appointment Can Improve Your Trust

Many trusts that will continue for the benefit of a spouse’s lifetime and for the benefit of several generations. By design, these trusts may span multiple decades. It is important for the trust creator to consider including powers of appointment; allowing the addition or removal of beneficiaries at each generation.

Continue reading

Who’s Going to Get It: Do You Really Know the Beneficiaries of Your Trust?

Today many estate plans contain irrevocable dynasty trusts that continue for the benefit of a spouse’s lifetime and then for the benefit of future generations. Your trust must clearly define the beneficiaries at each generation.

Who Are Your Descendants?

The old definition of "descendant" was: a person traced back to a specific ancestor through bloodlines. Modern families encompasses more than just blood heirs:

Continue reading
1 20 21 22