Owning assets jointly with one or more of your children or other heirs is a common estate planning “shortcut.” But like many shortcuts, it may produce unintended — and costly — consequences. Joint Ownership Advantages There are two potential advantages to joint ownership: convenience and probate avoidance. If you hold title to property with a […]Continue reading
If you have minor children, choosing a guardian to care for them should you die unexpectedly is one of the most important estate planning decisions you must make. It’s also one of the most difficult. So difficult, in fact, that avoiding it is one of the most common reasons people put off drafting an estate […]Continue reading
Although much of estate planning deals with what happens after you die, it’s equally important to have a plan for making critical financial or medical decisions if you’re unable to make them for yourself. Carefully designed financial and health care powers of attorney allow you to designate a trusted person to make financial and medical […]Continue reading
Should a Tax Apportionment Clause be in Your Estate Plan? Even though the federal gift and estate tax exemption is currently very high ($11.7 million for 2021), there are families that still have to contend with significant federal estate tax liability. Plus, the exemption is scheduled to drop significantly in 2026, and reducing it sooner […]Continue reading
If your family owns a vacation home, you know what a relaxing refuge it can be. This is especially true these days due to the limited travel options you may have because of COVID-19 pandemic restrictions. However, without a solid plan and ground rules that all family members agree to, conflict and tension may result […]Continue reading
A revocable living trust is often used to complement a will. For instance, you might transfer specific securities to the trust. Notably, these assets generally don’t have to go through the probate process, which can be time-consuming and expensive. They’re also generally protected from creditors and may be managed by professionals. Thus, a living trust […]Continue reading
Did you know that you can put restrictions on charitable donations you make through your estate? If you want the peace of mind that your donations are used to fulfill your intended charitable purposes, you’ll need to take the steps to add restrictions. Reasons to Add Restrictions Even if a charity is financially sound when […]Continue reading
For many people, the first thing they think of when they hear the words “estate plan” is a will. And for good reason, as it’s the cornerstone of any estate plan. But do you know what provisions should be included in a will and what are best to leave out? The answers to those questions […]Continue reading
The aftermath of an accident with a large semi-truck or 18 wheeler can be devastating. You may be facing serious damage to your vehicle, physical injuries and living with the traumatic memory of the crash as well. Filing a personal injury lawsuit against the trucking company or its insurance carrier may help you recover financially; […]Continue reading
The team with Theus Law Offices works with people from all walks of life. While everyone has varied needs and desires, it can be universally said that failure to plan for matters related to incapacity or death is in effect planning to fail. More often than not we see people who have made well-intentioned mistakes with […]Continue reading
