Madeline has two children, is healthy, and wishes to plan for her estate. She is concerned, however, that she has to disinherit her one son, William, who was born with a disability. She has always cared for William in the family home, and will continue to do so as long as she is able, but recognizes she may not always be there for him.Read More
Tom was referred to a financial advisor by a social worker at the nursing facility where his Father, Joseph, was receiving rehabilitation after a fall. The advisor met with Tom and discussed a pension benefit his Father might be able to receive through the Department of Veteran Affairs.Read More
Fred and Wilma have been married for 45 years and have three children. Sadly their children weren’t so lucky. Wally has never been married and has no children. Ralph has been married three times and has five children. His current spouse has three of her own children as well. Sally’s marriage is rocky and a divorce very well might be in the future. Fred and Wilma are concerned that if something happens to both of them their estate would pass to their childrens' spouses and step-children along with their children and grandchildren. They wish for all of the assets to stay within the family and not pass to spouses and/or grandchildren.
Brad and Jen were married for seven years. During this time they had two children and Brad incurred substantial debts. After a long and contentious divorce proceeding, Jen was awarded custody of the two children, and in the few years since the divorce she has managed to save up a small amount of assets. If she passes away, she wishes to have these assets available to her children for college expenses and, if possible, as a small inheritance. She is concerned that if she dies and the children are still minors, Brad will inherit her money. Even if she were to name the children as beneficiaries on her accounts and assets, or disinherit Brad under a will, Brad would still likely be given control of the money she leaves to the minor children, and he may squander the assets.
Occasionally you will hear or read that a revocable living trust is the only way to avoid probate. While it is true that a properly funded revocable living trust can avoid probate, and is an important estate planning tool, there are other options to consider. One popular option is joint and survivorship accounts and deeds.Read More
Cheryl was referred to our office by another law firm who had prepared a trust for her mother, Clara. Clara had been admitted to a nursing home the previous month, and Cheryl was concerned about Clara’s finances, and about some gifts that had been made in the last couple years.Read More