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September 2017 Archives

Using living trusts to avoid probate

Living trusts are an important tool in the estate planning toolbox. This term refers to a number of different estate planning products, each with their own purpose and advantages. It is important for individuals who think they may benefit from a living trust to learn exactly which type of living trust might serve their particular needs.

Do newlyweds need an estate plan?

After months of planning a wedding, the big day is finally over, and you and your spouse are settling in to life together. Of course, this means it is time for a some more planning — planning how to provide for each other in the long run. Estate planning is often something that gets ignored until middle age or later, but newlyweds of any age have some very important estate planning matters to consider.

Do you need a pet trust?

Your pet is an important part of your family and deserves to be cared for long after you pass away. Fortunately, the law recognizes this important relationship. While there are a number of ways one might provide for a pet through an estate plan, creating a pet trust provides some of the best protections and flexibility available to pet owners.

Conditional gifts may invalidate your will

When you create your will, you must take care to only include provisions that will stand up to scrutiny in court. Many people erroneously believe that once they write something in their will, it is something that their survivors must abide by. In reality, illegal provisions are included in wills regularly, making executing these wills difficult, if not impossible.

Caring for a special needs loved one after you are gone

There are many considerations that a Florida family must take for a loved one with special needs. From education to medical care, there are multiple factors that go into the continued care and well-being of people who cannot care for themselves. If you support and provide for an individual with disabilities or special needs, you would be wise to include his or her care as part of your estate plan.

Properly using blind trusts

As you create and manage your estate plan, you may find that it is necessary to create legal boundaries between you and your assets. This is particularly common if you are in a position of influence where the choices you make for a business or as a part of a governing body could constitute giving yourself unfair advantages. This type of trust momentarily gained nationwide exposure after then President-Elect Donald Trump declared that he was breaking with tradition and not placing his many business holdings in a blind trust. Many other presidents and lawmakers have chosen to use blind trusts to avoid the appearance of conflicts of interest as they shape the laws that govern the country.