As estate planning attorneys, we sometimes hear from a client that wants us to provide damage control. The individual does not know where to turn, because their last surviving parent passed away without any estate planning documents in place. There are things that we can do in many cases to mitigate the damage, but this is a tough situation that could have been avoided.They say that the only two certainties of life are death and taxes. With this in mind, everyone is prepared to file their … [Read more...]
Aretha Franklin Died Intestate: What Does It Mean for Her Family?
Aretha Franklin died intestate. Intestacy has definite drawbacks. Read on to see what this means for her family, financially and in other ways. Aretha was the Queen of Soul, but her lack of planning caused consequences she did not consider.Aretha Franklin Died Intestate: What Does It Mean for Her Family? … [Read more...]
The Risks of No Contest Clause
In a perfect world, our wills would serve only to better the lives of our loved ones after we’re gone. There would be no hard feelings, no disbelief, anger or threats after heirs learn the contents of a will. Too many times, though, families split because of their inheritance (or lack of). A no contest clause is one way of limiting those battles, but there are a lot of moving parts you need to understand before including this clause in your estate plan. The Basics A no-contest clause basically … [Read more...]
Revocable Living Trusts
Created to transition certain legal rights in case of incapacity, revocable living trusts are an important tool for those planning for their future. It’s a written contract between the grantor or settlor (the one who creates it) and the trustee – the one named to oversee the trust. It’s not at all uncommon, especially in Vermont, that a grantor is also the trustee. It might be that there is more than one grantor, too. It’s these types of versatile options that make them popular.In a … [Read more...]
Your Best Protection Against Estate Litigation
Estate litigation has somehow found its way front and center in this particular law sector. The reason is simple: poor estate planning. When your estate plan is vague or open to interpretation, you can be sure that’s exactly what will happen: people will try to interpret your decisions. It’s unfortunate, but it can also be avoided. Selecting an estate planning lawyer with experience and a commitment to each of his clients’ needs should be top priority. The more he knows about your needs, you … [Read more...]
Medicaid, Alzheimer’s and the Future
Understanding the ultimate outcome of most who are diagnosed with dementia or Alzheimer’s, it’s easy to understand the fear that comes with those realizations when a parent or other loved one has been diagnosed. The questions instantly skyrocket, the answers aren’t always easily found and the sudden realization that life has changed for a family forever is almost overwhelming. But – there’s reason for hope and there’s help available. A Closer Look at Alzheimer’s The National Institute on … [Read more...]
Estate Planning and Remarriage in Essex Junction Vermont
Sometimes, happily ever after isn't as clear-cut as we'd like. Remarriage is as much a part of life as the sun rising in the east. Whether you're widowed or divorced, there's good chance another walk down the aisle is in your future. But how do you even begin to cover the bases from an estate planning perspective? Here are a few important tips when it comes to estate planning and remarriage in Vermont. Finances and Legalities It's crucial to update not only your banking and financial … [Read more...]
Why Can’t I Write My Own Will?
A lot of consumers, especially budget-wise consumers, are concerned with the costs associated with estate planning. If you’re thinking of writing your own estate plan, you may want to think twice. Most professionals will advise against DIY estate plans. Not because they want you to pay them, but because they know the pitfalls associated with DIY estate plans.DIY Doesn’t Mean One-Size-Fits-AllWhen you create your own estate plan, you’ll use a template available online or in a book. These … [Read more...]
