Estate Planning

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....

What Are The Differences Between A Will And A Revocable Living Trust? Which One Should I Use?

Posted on: April 13th, 2012
This is a question that I hear often from my clients. Some believe that a Revocable Living Trust (“RLT” or “Living Trust”) is something that is only used by the rich and famous and a Will is best for everyone else. That is not necessarily true. In fact, I believe an RLT is a better choice over a Will for the following reasons. ...

What is a Revocable Living Trust and Should I Consider Having One?

Posted on: April 8th, 2012
The short answer is that a Revocable Living Trust (“RLT” or “Living Trust”) is another tool that can transfer your assets upon your death. If a client has a Will as the centerpiece of their estate plan I describe that as a “Will based” plan. If they use an RLT as the centerpiece, I describe that as a “Trust based” plan. ...

What Is a Last Will and Testament and Do I Need One?

Posted on: March 31st, 2012
A Last Will and Testament, or Will, is a legal document that outlines how the assets in your estate will pass to your surviving spouse, children, or other beneficiaries upon your death. In my opinion, everyone needs a Will. For some the Will may be the only asset transfer document they have; for others, they may have a Will in conjunction with a Revocable Living Trust. ...

Estate Planning – what is it?

Posted on: February 5th, 2012
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