Blog

Published on August 3, 2022

Should I select the same individual as my power of attorney and successor trustee?

Some of the responsibilities of your attorney-in-fact and successor trustee appear to overlap. Therefore, there can be benefits to appointing the same individual as both your attorney-in-fact and successor trustee. Your attorney-in-fact and successor trustee are both critical roles in your estate plan. Your attorney-in-fact has a wide range of financial and legal powers, as […]

Published on July 12, 2022

What happens to my Trust if I am incapacitated?

A well-drafted Trust contains many safeguards and instructions for what should happen if the Trust’s creator becomes incapacitated. Regardless of age, health, or mental capacity, the creator of a Trust remains the primary beneficiary while alive. (Or co-beneficiary, in the case of married couples). If you are not physically or mentally well, your successor trustee […]

Published on June 21, 2022

Can a Revocable Trust be amended?

A revocable trust can be amended anytime during your life. Learn more about situations that necessitate seeing your attorney to make such changes. Can a Revocable Trust be amended? Yes. A Revocable Living Trust (RLT) can be amended. One aspect of RLTs that clients find particularly appealing is the ability to change them with relative […]

Published on June 1, 2022

What jobs do I pick when I create my estate plan?

A typical Trust-based estate plan includes a Will, Trust, General POA, and Health Care POA. In the process of creating these documents an attorney will help you select a personal representative, guardian (if you have young children), successor trustee, general attorney-in-fact, and health care attorney-in-fact. In estate planning, there are several roles or “jobs” in […]

Published on May 18, 2022

What are the differences between a Will-based estate plan and a Trust-based estate plan?

Learn more about your options for selecting the right estate plan for you and your loved ones. Certain documents are almost universally recommended when an individual or couple has an estate plan prepared. These documents include: 1. “Standalone” Will OR a Trust & “Pour-over” Will 2. General Power of Attorney (selects an agent for financial/legal […]

Published on May 9, 2022

Estate Planning for Parents with Young Children

Parents with young children face unique issues, when dealing with the personal and financial preparations of estate planning. If you are a parent with children under 18, or even in their early to mid-20s, estate planning is of vital importance. In addition to the ever-present priority of avoiding probate, these issues are particularly relevant for […]

Published on October 26, 2021

Can (and should) I select the same person as both Personal Representative and Successor Trustee?

Estate planning clients frequently ask if it is important to separate the roles of PR and Successor Trustee. Before diving into this question, it would be helpful to review the responsibilities of these two roles: Personal Representative – A Personal Representative (also called an executor in some states) oversees the administration of the decedent’s estate. […]

Published on September 29, 2021

What is a Certification of Trust? What is it used for?

If you have a Trust, it likely contains a support document called a “Certification of Trust.” This article will illuminate the role and importance of this document. The Certification of Trust or “Certificate of Trust” is essentially a short form version of your Trust. The Certification of Trust contains important information about the Trust that […]

Published on September 15, 2021

What is the Gift Tax?

The Federal Gift Tax is important to understand within estate planning because of its implications for estate planning strategies. This article offers a basic overview of the Gift Tax. What is the Gift Tax? The Gift Tax is a federal tax on the donor of any gift above the annual exclusion amount. For 2021, the […]