Studies estimate that 70 percent of family wealth is lost by the end of the second generation and 90 percent by the end of the third generation. To assist your loved ones in not becoming part of this statistic, you need to first educate them. Then, your job is to...
What does it mean to modify, amend, or revoke a trust? To revoke means to annul by recalling or taking back something. To modify means to make changes to something in an effort to improve it. To amend a document is to make minor changes to make...
Can I disinherit my kids? Maybe. According to Tinsel Town, a parent can always disinherit their kids. But not so in the real world. In most instances, you can. However, that also depends on the state and the facts of your particular situation. Generally, the law...
A common occurrence after someone dies is that the estate documents can’t be found. Maybe it’s because they were lost, mistakenly destroyed, intentionally revoked, or hidden. Regardless, when someone passes away, and their will and trust cannot be secured, there is a...
To be valid and enforceable, a trust must be funded with assets of value, and it must have a purpose. In addition, it must have a trustee. The person who legally holds the assets. When you establish your trust, you are required to nominate your trustee. While not...
A common question often asked by people who want to hire an estate planning lawyer is, “How do I prepare for the first meeting?” Is the meeting in person? Is it virtual? Is it by phone? If it’s by phone, does the lawyer call me, or should I call them? What should I...
How much does an Estate Plan cost? This is a question many ask, even before they know what an estate plan is and what it involves. While I understand the reason behind leading with that question, no competent lawyer will answer it until they know what you want and...
How to Choose a Lawyer? Choosing an estate planning lawyer to work with is a personal experience. It doesn’t matter whether you’ve hired them for a business issue, a family law matter, a personal injury concern, or an employment-related question; great care should be...
What is a Deed and Why is it Important It is a legal instrument that transfers real property from one person or entity to another. The person who transfers the property is the grantor. The recipient of the real property is the grantee. Sometimes, the property is...