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
To gift or not to gift? It’s a deceptively complex question. The temporary doubling of the federal gift and estate tax exemption — to an inflation-adjusted $11.7 million in 2021 — is viewed by some people as a “use it or lose it” proposition. In other words, you should make gifts now to take advantage […]Continue reading
As a formal estate planning term, “tangible personal property” likely won’t elicit much emotion from you or your loved ones. However, the items that make up tangible personal property, such as jewelry, antiques, photographs and collectibles, may be the most difficult to plan for because of their significant sentimental value. Without special planning on your […]Continue reading
Your estate plan may include several different trusts. The reason is that various types of trusts can accomplish a myriad of estate planning goals. Thus, it’s critical to understand the role of a trustee. The Trustee’s Duties The trustee is the person who has legal responsibility for administering the trust on behalf of the interested […]Continue reading
If you’ve worked 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. The best […]Continue reading
Precise language is critical in wills, trusts and other estate planning documents. A lack of clarity may be an invitation to litigation. An example of this is the dispute that arose after Tom Petty’s death between his widow and his two daughters from a previous marriage. (The two parties have since resolved their differences and […]Continue reading
