While every adult can benefit from having an estate plan in place, there are certain circumstances that make estate planning even more important. Becoming a parent, for example, increases the need for an estate plan while being a single parent should make estate planning a top priority for you. The Essex Junction attorneys at Unsworth LaPlante, PLLC discuss estate planning for the single parent and offer suggestions for what should be in your single parent estate plan. The Importance of … [Read more...] about Estate Planning for the Single Parent
Whether by choice or by circumstance, you may be among the growing number of adults and even couples who do not have children. If so, you may assume that estate planning is less important for you than it is for people who are parents; however, that assumption would be incorrect. People often make that assumption because they hear people discussing estate planning concepts that are focused on protecting or providing for children. What you may not have heard are the numerous reasons why estate … [Read more...] about Estate Planning Tips for Adults Without Children
If you are contemplating the addition of a trust to your estate plan, there are some common mistakes you want to avoid making, such as failing to name a successor Trustee. For those who are not familiar with how a trust is administered, the Essex Junction trust attorneys at Unsworth LaPlante, PLLC explain why you should name a successor Trustee when you create a trust. Trust Basics First, it is important to have a firm understanding of what a trust is and how a trust works. A trust is a … [Read more...] about Do I Need to Name a Successor Trustee When I Create a Trust?
Once your estate plan moves beyond the basics, there is a good chance you will decide to incorporate a trust into your overall plan to help achieve one of your many estate planning goals. You may, however, decide you need to make changes to your trust agreement at some point down the road. The Essex Junction trust attorneys at Unsworth LaPlante, PLLC explain when and how you can modify a trust agreement. Trust Fundamentals All trusts fit into one of two categories – testamentary or living … [Read more...] about Can I Modify My Trust Agreement?
A trust agreement is among the most common additions to a comprehensive estate plan. When a trust is created, the person creating the trust must appoint a Trustee. The overall job of a Trustee is to administer the trust. If you recently learned that you were appointed as the Trustee of a trust, the prospect of serving in that position can be a bit daunting. To get you started, the Essex Junction trust administration attorneys at Unsworth LaPlante, PLLC discuss what is involved in trust … [Read more...] about What Is Involved in Trust Administration in Vermont?
Whether you are a new parent or the parent of adult children, you likely want to protect the inheritance you intend to leave to your children. Establishing a trust is the most popular way to accomplish this common goal. To help you avoid making common mistakes, the Essex Junction trust attorneys at Unsworth LaPlante, PLLC discuss common mistakes parents make when establishing a trust for their children. Providing your Trustee with too little discretion. It can be difficult to anticipate all … [Read more...] about Common Mistakes Parents Make When Establishing a Trust
Trusts have become ubiquitous parts of estate plans. Many Estate Plans use revocable trusts as the foundation for the plan while others include irrevocable trusts. Regardless of the planning reason, every trust needs a trustee. The grantor may name the beneficiary as trustee, or the grantor may name another individual or entity as trustee, creating a natural tension between the beneficiary and trustee. If the tension becomes too great, the beneficiary may seek to have the trustee removed. As … [Read more...] about What Happens When You Don’t Trust Your Trustee – Part II
No one wants to consider the possibility that a marriage will end in divorce when they are looking forward to getting married. Unfortunately, however, the reality is that about half of all first marriages end in divorce. If your marriage does end in a divorce, and there are children and/or significant assets involved, the divorce will have a significant impact on your assets. With all of that in mind, the Essex Junction estate planning attorneys at Unsworth LaPlante, PLLC discuss divorce and … [Read more...] about Divorce and Your Estate Plan
You likely have a loved one that is elderly and that may be particularly vulnerable to elder abuse and neglect. If so, there are things you can do to protect your loved one from becoming a victim of elder abuse. Learning everything you can about elder abuse and neglect with particular emphasis on learning to recognize the signs of elder abuse and neglect is a good place to start. To help you do that, the Essex Junction elder law attorneys at Unsworth LaPlante, PLLC help you spot the signs that … [Read more...] about What You Need to Know about Elder Abuse
A common misperception about estate planning is the belief that it does not become necessary until you marry and/or become a parent. This simply is not true. To make sure you understand when and why you need to start estate planning, an Essex Junction estate planning attorney at Unsworth LaPlante, PLLC explains why you need an estate plan even if you are single without children. Estate Planning Is about More than Just Planning for Your Death The mistaken belief that estate planning is all … [Read more...] about Do I Need an Estate Plan If I’m Single Without Children?