Category: Beneficiary
“Most people wish to have more control over who and how their assets are managed than what the state laws provide, and so they draft documents that can override the Laws of Intestacy, when those laws do not match their objectives.” Transferring the management of assets if and when you are unable to manage them […]
“Estate planning is all about ensuring that your wishes are met after your death. All estate plans should include a will and powers of attorney. However, in many cases, a trust has additional benefits beyond what can be accomplished with the will and powers of attorney.” How would funding a trust with life insurance work, […]
“These all-too-common misconceptions can steer your estate plans in the wrong direction right from the start. Here’s how to overcome them and tips to build the right plan for your family.” Estate planning should be a business-like process, where people evaluate the assets they have accumulated over time and make clear decisions about how to […]
“For most of us, considering the distribution of the property we have accumulated over our lives is a painful reminder of our mortality.” Overcoming an emotional response to the necessary task becomes complicated when we want to leave uneven distributions of our property to loved ones, including children and spouses. There are many reasons for […]
“Only you know the strengths and weaknesses of your family members, putting you in the best position to decide if your spouse or your child can appreciate a trustee’s responsibilities.” To protect all that you have worked for and take care of the most important people in your life, you may have been advised to […]
“To ensure your estate is settled in the way you want, it’s wise to do a bit of extra planning to keep your documents up to date.” For anyone who thinks that their will or trust can be used to distribute assets in a 401(k) after they pass, think again. The beneficiaries listed in a […]
“The distribution of some of our assets can be governed by contracts. Examples of these contracts include life insurance, investment accounts, bank accounts and trusts.” Without proper planning, your will determines who inherits your property—everything from your home, car, bank accounts and personal possessions. Your spouse may not necessarily be your heir—and that’s just one […]
“Although there is often a progression of complexity in estate planning, this progression generally follows stages in life rather than specific ages.” Many people decide they need an estate plan when they reach a certain age, but when an estate plan is needed is less about age than it is about stages in life, explains […]
“A revocable trust is great for many reasons, but it does NOT protect assets from nursing home expenses.” The question raised in the article “Fact or Fiction: I Can Protect My Assets from a Nursing Home with a Revocable Trust” from New Hampshire Business Review is frequency asked, and the reason for it is understandable. […]
“We may think of a spoiled heiress to a large fortune, whose parents were savvy enough to prevent her from having full access to her funds. On the other hand, we could imagine a loved one with special needs, whose needs will be provided for with trust-protected money.” Trusts serve many different purposes in estate […]
