Legacy Care Law Firm

Interest rates were at historic lows for many years. Those rates have begun to rise in recent months and may continue to do so. Practitioners need to monitor interest rates in order to advise clients regarding the most effective Estate Planning strategies in any environment. Read on to learn more. … [Read more...] about What’s Estate Planning Got to do with Interest Rates – Part I

Whenever a client’s Estate Plan deviates from the expected disposition, it raises questions for the slighted beneficiaries. These questions usually revolve around methods to have the plan overturned. Most states give clients tools to protect their carefully crafted plans, even after their death. Read on to learn more. … [Read more...] about Understanding Undue Influence – Part II

Whenever a client’s Estate Plan deviates from the expected disposition, it raises questions. Most of the time, clients have consulted with a competent attorney regarding their reasons for structuring the plan the way that they have. Sometimes, other factors are at play and the plan doesn’t represent the testator’s true wishes, but rather, another individual’s testamentary desire. That’s undue influence and there are ways to guard against it. Read on to learn more. … [Read more...] about Understanding Undue Influence – Part I

If a client’s Estate Plan involves a revocable trust, then the client needs to decide who will serve as trustee after the client dies. Sometimes, clients have several undesirable options if they want to name an individual and they consider naming an institution to serve as trustee. This article provides a framework for clients considering naming an institutional trustee. Read on to learn more. … [Read more...] about How Do I Trust Thee…Part III

When clients undertake Estate Planning, they face the difficult decision of naming a trustee after their death. While Estate Planning documents are effective once signed, they often contain provisions regarding what will happen upon the trustor’s death. Because of the application years in advance, the choice of who will serve as trustee often vexes clients. They need to make this decision years in advance of the time that the individual will serve and as we know, circumstances change. This … [Read more...] about How Do I Trust Thee…Part I

Many individuals mistakenly believe that they need a large estate before concerning themselves with taxes at their death. While the Federal government does not impose taxes until an estate exceeds the Applicable Exclusion Amount, it’s important to the role that state estate and inheritance tax play, as well as a beneficiary’s own financial picture. Without careful consideration regarding the source of payment, disastrous consequences result. Read on to learn more. … [Read more...] about Understanding Tax Apportionment Clauses

Estate Planning attorneys balance competing interests when helping clients decide who they should name as personal representative and trustee. Some of the factors that a client needs to consider are the nominee’s responsibility, financial savvy, and temperament. These factors influence the fiduciary’s ability to pay debts, expenses, claims, negotiate on behalf of the estate, and to conclude the administration of the estate or trust. While many individuals consider acting in this capacity a great … [Read more...] about The Toll of Serving as Fiduciary