One famous limitation of the right to contract is the unenforceability of an illegal contractual promise. Even if parties fulfill all other necessary conditions to form a valid contract, the illegality of a promise, especially if the illegal promise can cause significant harm to the public, is frequently an accepted excuse for nonperformance of a […]Continue reading
Pour Over Will: What Is It And How Does It Work? Pour over wills are often used in an estate plan that features a revocable living trust. Understanding what a pour over will can help you understand if you want to include this device in your estate plan. A pour over will often play a […]Continue reading
If you’ve worked a lifetime to build a large estate, you undoubtedly would like to leave a lasting legacy to your children and future generations. Educating your children about saving, investing and other money management skills can help keep your legacy alive. Teaching Techniques There’s no one right way to teach your children about money. […]Continue reading
Whether you’re purchasing a house, a commercial plot, a tract of land, or any other kind of real estate, odds are that the state you live in will require you to form a written agreement between the purchaser and the buyer. The reasoning is that real estate purchases are generally more complex than most other […]Continue reading
A primary purpose of estate planning is to ensure that your wealth is distributed according to your wishes after you die. But if a family member challenges the plan, that purpose may be defeated. If the challenge is successful, a judge will decide who’ll inherit your property. Will contests and similar challenges often occur when […]Continue reading
The “stretch” IRA generally no longer exists. But if you have a substantial balance in a traditional IRA, a properly designed charitable remainder trust (CRT) can allow you to replicate many of its benefits. SECURE Act’s Effects on Stretch IRAs For years, a stretch IRA was an effective tool that allowed your children or other […]Continue reading
When you are dealing with a tough situation involving a real estate matter, a lawyer can give you personalized assistance. Real estate cases often involve disputes between many different parties, such as government agencies and third party contractors, making them hard to resolve successfully. Taking on legal issues on your own is not recommended if […]Continue reading
When you are going through the estate planning process and are considering whether you should work with a lawyer or not, one thing that you may want to consider is whether you would be comfortable with your estate going public. In fact, many people do not realize when they are estate planning that once they […]Continue reading
It’s difficult for many people to think about their mortality, so it’s not surprising to learn that many put off planning their own funerals. Unfortunately, this lack of planning may result in emotional turmoil for surviving family members when someone dies unexpectedly. Also, a death in the family may cause unintended financial consequences. Why not […]Continue reading
Although your will or revocable trust governs the distribution of many or most of your assets, certain assets — such as retirement plans, insurance policies, and bank or brokerage accounts — require you to name a beneficiary (or beneficiaries). This can be an advantage, because when you die, the funds can pass directly to your […]Continue reading
