By Andrew Gilliland | Published October 26, 2021 | Posted in Uncategorized |
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⟩ Incapacity Planning FAQs
Q: What does “disabled” mean? A: In the estate planning world, the term “disabled” refers to an individual’s incapacity or the inability to manage day-to-day business affairs such as managing and protecting assets, signing papers, paying bills, and filing taxes. “Disability” or “incapacity” doesn’t mean you’re laid up on the couch with a bad back; Read More
Read MoreParental Warning: If You Own Your Property this Way, You May Accidentally Disinherit Your Own Children
Owning property as Joint Tenants with Right of Survivorship is easy, common, and often disastrous. Sadly, children – both minor and adult – are often disinherited. While there are several forms of joint ownership, the one most people use (and the one considered in this discussion) is called “Joint Ownership with Right of Survivorship.” When Read More
Read MoreWho Should Be Your Successor Trustee?
If you have a revocable living trust, you probably named yourself as trustee so you can continue to manage your own financial affairs, but eventually, someone will need to step in for you when you are no longer able to act due to incapacity or after your death. Your successor trustee plays an important role Read More
Read MorePassing Along a Benefit, Not a Burden
Why Incapacity Planning for Business Owners is an Indispensable Component of Your Plan Most business owners have their estate planning prepared because they are worried about what will happen to their business after they are dead. However, proper estate planning has the added benefit of allowing you to make plans for what will happen if Read More
Read MoreHow to Minimize Legal Fees After Death
Death is a costly business. Aside from funeral expenses, legal fees can take a big chunk out of how much is left for your loved ones after you’re gone. But it doesn’t have to be this way. Careful planning can minimize the legal fees your loved ones will pay after you die. Here’s how: Make Read More
Read More3 Reasons You Want to Avoid Probate
When you pass away, your family may need to visit a probate court in order to claim their inheritance. This can happen if you own property (like a house, car, bank account, investment account, or other asset) in only your name. Although having a will is a good basic form of planning, a will does Read More
Read MoreFAQs on Blended Families
I’m married to my second spouse, but my spouse and children from my first marriage get along really well. Why would I need to consider estate planning? They may be getting along well now, but there’s no telling what will happen after your death. The court records are full of cases that could be said Read More
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