The idea of putting your dog in your estate plan can sound silly when you are a relatively young adult. Lifespans for our fine furry friends are relatively brief compared to humans, and most dogs are mutually owned by families, so there is more than one potential caretaker. This being stated, the dynamic is quite a bit different for senior citizens. Since we are elder law attorneys, we do get questions about inheritance planning for pets. A Cure for Loneliness Though some people think that … [Read more...] about Can a Senior Put a Dog In an Estate Plan?
You should work with a licensed estate planning attorney to help you prepare your plan for a number of different reasons. One of them is the simple fact that there are many different ways to go about it, and the right choice will depend upon the circumstances. If you are not aware of all the options that exist and the reasons why one asset transfer method may be preferable to another under, you can make mistakes. While you will not be around to see the outcome, your loved ones will be forced … [Read more...] about Asset Transfers: Explore Your Options
There is the right tool for the right job in any field of endeavor, and this certainly comes into play when you are talking about inheritance planning. You have many different options when you are planning your estate, and you should carefully explore them so that you can provide for each person that you love in the ideal manner. If you have someone in your family with special needs, you may want to make this individual more comfortable, either through an inheritance or a direct lifetime … [Read more...] about A Look at Two Useful Inheritance Planning Tools
We speak with a lot of people that have inheritance planning questions, and we find that many of them share the same concerns. It is possible to provide some basic principles in a relatively brief and concise manner. As a result, we have decided to create a blog post that simulates a typical conversation that we would often have with a client. Just about everyone should use a last will as an estate planning centerpiece, right? This is actually the most widely held misconception within the … [Read more...] about A Hypothetical Conversation Between an Inheritance Planning Attorney and a Client
Incapacity Planning in Vermont from Stephen Unsworth The road to being declared incapacitated can be slow due to a physical or mental change.Learn more about Incapacity Planning in this presentation. … [Read more...] about Incapacity Planning in Vermont
When you die, unless you have planned otherwise ahead of time, your estate will be settled through the legal system in the probate process. This is the administrative method of handling most of your assets that you leave behind when you die. Probate transfers your assets to others in what is hopefully an orderly process under supervision. Debts and taxes are paid first, then beneficiaries receive their inheritances. The probate process will happen whether you have a will or didn’t get around … [Read more...] about Probate Means an Orderly Transfer Process
Those who own property might want to consider talking to a professional legal expert about issues involved in establishing a trust. Trust Administration is a critical component in this aspect of Estate Planning. Splitting Ownership A trust can split ownership of legal property. This applies to either real or personal property. The creator of the trust defines how assets are to be distributed and who benefits during his or her lifetime. After death, then the person responsible for Trust … [Read more...] about Establish a Trust to Protect Property Assets