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Wills are legally binding documents that are used to distribute assets and personal property upon death. To be legally binding, they must be in place when a person dies. While a will may never need updating, it is a good idea to update it whenever something significant occurs in one’s...

What does Estate Law include? Estate planning involves a variety of processes, from drafting a will to transferring property after the death of a person. Estates are legal entities that take care of people and property after the death of an individual. Estate law sets out the decisions that need...

A special needs trust, also known as a supplemental needs trust in some jurisdictions, is a legal document that allows a disabled beneficiary to access property held in trust for their benefit. The trust provides the disabled beneficiary with the opportunity to enjoy the property while they are unable to...

There are two basic types of special needs trusts. First, there are pooled trusts, which are a combination of resources from multiple people. The funds are managed by a third party, such as a grandparent, family member, or friend. A third-party pool trust is a good option for people with...

Using a will is the traditional way to distribute your assets upon death, but there are many benefits to creating a trust instead. A trust avoids probate and is private and will not become public record. A trust can also spell out who will care for your dependents if you...

In today’s world, asset protection is a must. It not only helps protect your property, but also allows you to run your business in a friendly environment. For example, if you own a property management company, you can manage your rentals separately from your personal property. With asset protection, you...

Do you have assets? If so, do you have a legal structure that can protect them? There are many different ways to protect your assets, including separate legal structures, partnerships, and trusts. Some of these structures are common and legal, while others are illegal money-making scams on unsuspecting individuals. Common...

How much should I expect to pay for estate-planning services? The fee for an estate-planning service depends on the scope of the planning, whether it takes a couple of hours or several months. You may be surprised to learn that an attorney can charge significantly more than a general practitioner....

If you are looking to establish a special needs trust, you will need to understand the terms. In addition to the trust, you will need to decide on the trustee. Your trustee can be a family member or a trusted outsider. The purpose of a special needs trust is to...

A bloodline trust works in much the same way as a basic will, with one major difference: the assets of the trust are protected from third-party heirs. It is a great way to avoid conflicts in your family, such as if your daughter-in-law can’t manage your inheritance. If you’re unsure...

If your estate is largely comprised of tangible assets, such as cars and art, the estate planning process will become much simpler. However, there are four important factors to consider when determining the appropriate estate plan. You can make your life easier and avoid hefty taxes with careful planning. These...

Before hiring an estate planning attorney, ask yourself the following questions: What is your personal situation? Does your situation require a specialized attorney? Will you be more satisfied with an attorney with another specialty? Although all attorneys are required to pass the bar exam to practice law in their state,...