Legacy Care Law Firm

When you sit down to create your comprehensive estate plan you will want to include estate planning goals above and beyond simply deciding who will receive your assets when you are gone. Protecting your assets while you are here, for example, is a common estate planning goal. You may have heard that trusts are often used as asset protection tools in an estate plan; however,  you may not know whether irrevocable or revocable trusts can provide you with asset protection. Consulting with an … [Read more...] about Can Revocable Trusts Provide Asset Protection?

For most people, a Last Will and Testament serves as the cornerstone of their comprehensive estate plan. If you are just now creating your Will, you will need to make a number of important decisions during the creation process. While those decisions will predominantly focus on deciding who will receive your estate assets when you are gone, there is another decision you must make that is of equal importance, yet is frequently given very little thought. You will need to appoint someone as the … [Read more...] about Choosing the Executor of a Will

You have probably heard how important it is to have an estate plan in place; however, you may also have assumed that you don’t really need one yet. After all, estate planning is only for older people with large estates right? Wrong. The truth is that it is never too soon to start estate planning and you are never too young, or too poor, to have an estate plan in place. Estate planning isn’t only about deciding who will receive your estate assets when you are gone. Estate planning can, and … [Read more...] about When Should You Start Estate Planning?

For the parent of a child with special needs comprehensive estate planning takes on a heightened importance. Every parent worries about providing for their child in the event something were to happen to the parent; however, if you are the parent of a child with special needs you may feel a more urgent need to plan for that possibility as well as to plan for the day when the child reaches adulthood. Your child likely depends, to some extent, on state and federal programs to help cover the cost of … [Read more...] about Can a Special Needs Trust Help Protect My Child?

Having you been thinking lately about the need to create your Last Will and Testament? If so, you may be tempted to use one of the “Do-It-Yourself” Wills you can easily find online or at a local stationary store. In today’s electronic age it is certainly not difficult to locate DIY legal documents; however, just because they are readily available does not mean you should give in to the temptation to use one. It may seem as though using one of the DIY Wills you find online will save you time and … [Read more...] about Why the DIY Wills You Find Online Often Don’t Work As Intended

In the 21st century, estate planning typically includes much more than just a basic Last Will and Testament. Although your Will my continue to serve as the cornerstone of your comprehensive estate plan, you will likely decide to build on that foundation using additional estate planning tools and strategies. One common addition to any modern day estate plan is a living trust. Only your estate planning attorney can evaluate your estate planning goals and objectives and help you decide is a living … [Read more...] about What Is a Living Trust?

Although a Last Will and Testament remains the cornerstone of the average estate plan, most people also incorporate additional estate planning tools and strategies into their comprehensive estate plan, such as a trust. Though once used almost exclusively by very wealthy families as a mechanism by which they could pass down the family wealth while still maintaining control over the assets, trusts have evolved over the last century to the point where they are now commonly found in the estate plans … [Read more...] about Trust Administration – Duties and Responsibilities of a Trustee

According to the Pew Research Center, 20 percent of adults age 25 and older in 2012 had never married. That’s up from 9 percent in 1960. Further, the number of women age 40 to 44 who also have not borne children has increased from 10 percent in 1976 to 20 percent in 2005. Interestingly enough, that 20 percent decreased to 15 percent in 2014. These numbers reveal the growing number of Americans who need less of a traditional estate plan and more of a specific plan for their needs. Indeed, estate … [Read more...] about Estate Planning for the Unmarried

Many people choose to delay estate planning because they’re unsure of what to expect, how much of their finances and family dynamics they must reveal and what changes will come with taking that first step. It’s not an overwhelming amount of time that’s involved, but it’s absolutely crucial both for ourselves and our families. Not sure where to start in terms of finding the right estate planning attorney? It can seem like a shot in the dark, but there are a few factors that play a big role in … [Read more...] about Your First Estate Planning Consultation

A letter of last instructions isn’t one of those legal documents that will greatly affect the way your estate is handled after you’re no longer here. Still, many clients opt to prepare an informal document they refer to as a letter of intent or letter of last instructions. The letter of intent can be beneficial and can be a big help to your loved ones in the days following your death. Simply stated, the letter of last instructions provide instructions or guidance for what you would like in those … [Read more...] about What is a Letter of Last Instructions?