Downs Law Firm, P.C.
Ensure that your children’s futures are secure by starting a comprehensive estate plan during back-to-school time. Schedule a consultation today.
I have been diagnosed with brain damage and dementia. Word to the younger folks: I woke up last year and suddenly could not spell or write legibly. No warning. No symptoms.
At some point, you’ll want to share your estate plans with your loved ones—and the first step in this process may be to hold a family meeting.
There are better—and often more creative—ways to plan and divide that can avoid family squabbles over cars, jewelry, furniture and household items.
You should not name a legal minor as a beneficiary. This applies to almost all legal documents, most notably wills and life insurance policies.
One of the most significant changes Americans will soon see is the sunsetting of tax laws under the Tax Cuts and Jobs Act (TCJA) of 2017.
Whether you drew up a will recently or years ago, keep in mind it’s generally not something you can set and forget.
There are many stories of strange conditions in wills and trusts over time. For example, the German poet Heinrich ‘Henry’ Heine died in 1856 and left his estate to his wife, Matilda, on the condition that she remarry, so that ‘there will be at least one man to regret my death’.
A pot trust is a type of trust that lists children as beneficiaries, with the trustee using his or her discretion as to how trust assets should be spent. If you have minor children, you might consider setting up a pot trust to meet their financial needs, if something should happen to you. This type of trust allows you to create a single pool of assets to be used for the benefit of multiple children.
Whatever the reason, whether your life is a bed of roses or a getting-worse-nightmare, there are things you can do now to insure what you leave will go to who you want. And when. And in what portion or portions.
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