No one wants to think about death, much less plan for the aftermath. But since is the one most inevitable event in our lives, don’t we owe it to those who love us to make the burden easier for them to bear? That’s what “estate planning” is all about. And it isn’t just for the wealthy.
Following the death of a loved one, you may become the recipient of an unexpected parcel of real estate. Yet, with every windfall comes great obligations, so be prepared for the surprises you may encounter when inheriting property.
Living Trusts, when drafted properly by an experienced attorney, can provide a variety of solutions to your problem. In any Living Trust, there are three positions of authority: 1) The Grantor is the person who created the Trust, and has the legal right to modify or revoke the Trust; 2) The Trustee is the person…
Elder financial abuse is being called the fastest growing area of crime in America. And it may be happening in your family, if you aren’t paying attention to a caregiver — or a relative — who, under the guise of being helpful, is syphoning off an elderly person’s life savings.
Although no one wants to think about death, it’s important to be financially prepared for it, so that your money ends up in the right hands. But it can sometimes be confusing to figure out where your assets will go after death. Will there need to be a probate? Who will deal with settling your affairs? And how will your bank accounts pass after death?