When you create your Last Will and Testament, one of the most important decisions you will need to make is the appointment of an Executor. Your Executor oversees the probate of your estate after your death, meaning he/she will be responsible for securing, managing, and eventually transferring your estate assets as well as paying creditors of your estate. Your Executor is also responsible for defending your estate if the estate becomes involved in probate litigation. What happens though, if your … [Read more...] about Who Will Administer My Estate If My Executor Cannot Serve?
Although your initial estate plan may consist of nothing more than a Last Will and Testament, that simplistic plan will undoubtedly grow over the course of your life to meet your changing needs. One of the estate planning tools you may choose to include in your expanded estate plan is a trust. As the Settlor (creator) of the trust you will create the trust terms. A Living Trust Attorney at Collins Law Group offer some tips to help you create those trust terms. Trust Basics A trust is a … [Read more...] about What You Should Consider When Creating a Trust
Having at least a basic estate plan in place should be a priority for every adult; however, when you become a parent, estate planning takes on heightened importance. Knowing that your children will be financially secure in the event something happens to you provides you with invaluable peace of mind. When creating your estate plan, you will need to decide how to pass down the inheritance you plan to leave your children. An Estate Planning Attorney at The Collins Law Firm helps parents with minor … [Read more...] about How to Leave Assets for Your Minor Children in Your Estate Plan
Gifting can always be done through a Last Will and Testament; however, many people choose to use a trust agreement instead of, or in addition to, a Will to make gifts within their estate plan. There are numerous benefits to using a trust to distribute assets, including the ability to retain a certain degree of control over the assets gifted and the ability to prevent a beneficiary from squandering assets. Once you create a trust and name a beneficiary though, can that beneficiary sell his/her … [Read more...] about Can a Beneficiary Sell His/Her Interest in a Trust?
As you undoubtedly realize, having an estate plan in place is one of the best gifts you can give to yourself and to your loved ones. Having never worked on an estate plan before, however, you may feel a little intimidated about your upcoming appointment. To help put you at ease, and to make the most out of your appointment, the Estate Planning Lawyers at the Collins Law Firm offer you the following tips on preparing for your upcoming consultation. Defining Goals When you think about estate … [Read more...] about 5 Things to Consider When Creating Your Estate Plan
Every American should have a comprehensive Estate Plan in place. For seniors, the need for planning is heightened. If you are a senior and have yet to create a plan, there is no time like the present to do so. If you have an estate plan in place already, be sure to update that plan when you enter your retirement years says the Estate Planning lawyers at Collins Law Firm. Why Seniors Need an Estate Plan When you reach your “Golden Years,” a wide range of things will change that could impact … [Read more...] about Estate Planning Tips for Seniors
As both your assets and your family grow, your estate plan will also likely need to expand in order to accommodate that growth. One of the most popular estate planning tools to add at that point is a living trust. If you choose to incorporate a Living Trust into your estate plan, you will need to choose a Trustee for your trust. Our Living Trust Attorney at the Collins Law Group helps you decide how to choose a Trustee for your living trust. What Is a Living Trust? A trust is a … [Read more...] about How to Choose the Right Trustee
During the creation of your Estate Plan, you will be required to make numerous decisions. Some of those decisions will seem relatively unimportant; however, others will have a direct impact on the success – or failure – of your overall Estate Plan. Among the more important decisions you will make are those that involve choosing a Fiduciary. Our Estate Planning Attorneys from Collins Law Firm explains the importance of choosing your fiduciaries carefully when creating, or updating, your Estate … [Read more...] about Choosing Your Estate Plan Fiduciaries Is More Important than You May Realize
As we age, so do our parents. At some point, you begin to worry as much about your parents as they once worried about you. If you are at that point, you are likely spending a considerable amount of time and energy worrying about the very real possibility that one of your parents could become a victim of elder abuse. To help you keep your parents safe, our Elder Law Attorneys at the Collins Law Firm discusses what you can do to help protect your parents from elder abuse. The Reality of Elder … [Read more...] about How to Spot the Signs of Elder Abuse
This is the second in a two-part series on Roth IRAs. The first part reviewed the basics of Roth IRAs. Read on to learn more. … [Read more...] about Roth IRAs Can Be a Great Planning Strategy: Advanced