Latest Blog Posts

Naming A Trust As The Beneficiary Of An IRA: Is It A Good Idea?

Posted on: May 6th, 2012
On Friday, April 29, 2011, the IRS issued Private Letter Ruling (“PLR”) 201117042. An ancillary issue in this PLR was whether an IRA could be titled in the name of a revocable trust during a Grantor’s lifetime. The IRS said that an IRA could not be held in the name of a Trust....

What Is A Declaration Of Guardian, And How Does It Work?

Posted on: April 28th, 2012
A Declaration of Guardian is a legal document where you tell the court who you want to serve as your guardian if there is ever a guardianship proceeding for you. There are two types of guardians: Guardian of your estate, and guardian of your person....

What is an Advance Directive, or a Living Will, and How Do They Work?

Posted on: April 27th, 2012
An Advance Directive (also known as a Living Will) is a legal document that communicates your desires about future medical treatments, or the lack thereof, when you are unable to communicate on your behalf. Ordinarily, this document outlines your desires about whether you do or do not want life support in the event that is the only method that will sustain your life....

What Is A Healthcare Power of Attorney And How Is It Used In Estate Planning?

Posted on: April 21st, 2012
Like a Power of Attorney for financial matters, a Power of Attorney for Healthcare allows the “Principle” to name someone to act as their “Agent” when healthcare situations arise...

What Is A Power Of Attorney For Financial Matters?

Posted on: April 18th, 2012
A Power of Attorney is a legal document where you the “Principle” name another person as your “Agent” to speak on your behalf with third parties....

What Is A Life Insurance Trust And Do I Need One?

Posted on: April 16th, 2012
It is not unusual for clients to forget about their life insurance policies. I think this happens for a few reasons: the policy may be very old (I have seen some purchased over 80 years ago); the policy is offered through an employer; the value may be very small; or the client thinks that the value is not included in their estate since they (the insured) is still living and therefore the policy has not paid out yet. Whatever the reason, it is very important to remember that a life insurance policy is included in the owner’s total estate as long as they have the ability to change or cancel the policy, change the beneficiary(ies), borrow against the policy, or hold other “incidents of ownership” of the policy....
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