Every state that recognizes trusts as legal entities imposes fiduciary duties upon the Trustee of such trusts. These duties may have different names in different jurisdictions, but ultimately a breach of fiduciary duties means that the Trustee failed to fulfill their duties as expressed in the trust instrument and under local law. This article examines a case ripped from the headlines that demonstrates the importance of choosing the right individuals to serve as fiduciaries. Read on to learn … [Read more...] about Estate Planning and Baseball
Proper Estate Planning Brings Peace of Mind During a Disaster
Estate planning isn’t just about securing your legacy—it’s about protecting your assets and loved ones when disaster strikes. Updating an outdated Estate Plan or creating a new one provides a set of instructions for your family regarding what you want to happen during your life if you lose the ability to communicate that and at death. It provides comfort and a sense of control. This article will serve as a guide to getting more out of your Estate Plan during a disaster. Read on to learn more. … [Read more...] about Proper Estate Planning Brings Peace of Mind During a Disaster
How to Handle the Equal Gifting Dilemma in Your Estate Plan
When creating your estate plan, deciding how to distribute your assets to your adult children is often one of the most challenging and emotionally charged decisions you will face. Many parents strive to treat their children equally, but achieving true equality can be more complicated than simply dividing assets by the number of children. Should you divide your estate equally? Are there alternatives to giving each child an identical inheritance? To help you navigate the equal gifting dilemma, the … [Read more...] about How to Handle the Equal Gifting Dilemma in Your Estate Plan
Advantages and Disadvantages of Sharing the Details of Your Estate Plan with Loved Ones
If you have created an estate plan, you have already taken an essential step in protecting your assets and ensuring that your wishes are carried out after your death or in the event of incapacity. Once your plan is in place, however, you may grapple with a difficult decision. How much of your estate plan details, if any, should you share with your heirs and beneficiaries? This choice is deeply personal and depends on your individual circumstances, family dynamics, and priorities. To help guide … [Read more...] about Advantages and Disadvantages of Sharing the Details of Your Estate Plan with Loved Ones
Litigation…a Necessary Evil?
Anyone creating an Estate Plan wants to ensure that the plan will work as intended and will withstand legal challenges. Sometimes though, beneficiaries need to bring a legal contest to enforce the terms of the decedent’s plan and force fiduciaries to act in accordance with their duties. This article examines a recent court case that could have ended in a failure of the decedent’s Estate Plan. Read on to learn more. … [Read more...] about Litigation…a Necessary Evil?
What the Trump Administration Could Mean for Your Estate Plan
Any time a new administration takes the Oval Office, clients call upon Estate Planning attorneys to provide assurances and guidance regarding what’s going to happen. As one administration leaves and another enters, many clients become nervous about the potential changes the incoming administration wants to make. With this new administration, the more things change, the more they stay the same. Read on to learn more. … [Read more...] about What the Trump Administration Could Mean for Your Estate Plan
Now is a Good Time for a Donor Advised Fund
As year-end approaches, many individuals look for ways to lower their income tax burden. Charitable contributions allow individuals to offset a portion of their income, but not all charitable contributions are created equally, and each has certain requirements to obtain the charitable deduction. Certain charitable-giving vehicles allow a donor to get more bang for their buck. Read on to learn more. … [Read more...] about Now is a Good Time for a Donor Advised Fund
10 Essential End-of-Year Estate Planning Steps to Complete Before the New Year
As the year draws to a close, it presents an ideal opportunity to review and update your existing estate plan. Estate planning is not a one-time event but an ongoing process that ensures your assets are distributed according to your wishes and that your loved ones are provided for in the event of your passing. Completing a few essential estate planning steps before the new year arrives can provide peace of mind and ensure that your affairs are in order as you ring in the new year. With that in … [Read more...] about 10 Essential End-of-Year Estate Planning Steps to Complete Before the New Year
Essential Estate Planning Steps for New Parents
Becoming a parent is a life-changing event that brings with it unparalleled joy and a profound sense of responsibility. Alongside changes to your daily routine and financial priorities, the birth or adoption of a child requires a fresh look at your estate plan. Whether you are building a plan for the first time or updating an existing one, your child’s needs should now be central to your decisions. With that in mind, the attorneys at Legacy Care Law Firm share some important estate planning … [Read more...] about Essential Estate Planning Steps for New Parents
Pumpkin Kisses and Harvest Wishes
As the spooky season transitions into the season of Thanksgiving, it’s important to remember our why. Most of us do what we do for our families and loved ones. As the holiday season approaches, do something that will have a lasting impact on your family. Create a comprehensive Estate Plan. Make sure that you take the time to consult a qualified Estate Planning attorney who can provide advice regarding all the elements necessary to complete your plan. Read on to learn more. … [Read more...] about Pumpkin Kisses and Harvest Wishes
