An executor is the person whom you name to handle the settlement of your estate after you die, taking your estate through probate, a court-supervised process that winds up your affairs in the state where you were living at the time of your death.
Perhaps the largest number of people who may benefit from asset protection planning are those who are at most mildly concerned about asset protection issues, or not even aware of the need for such planning.
Trust funds are an important estate planning tool. They can protect your assets while you’re alive and help ensure that you leave money to your children or other loved ones after you die.
Since we’re all going to die (yes, even those of us who are still in our 20s!), we might as well make things easier for the loved ones who, along with grieving our loss, will have to deal with the financial and logistical pieces of our lives.
Pandemics, inflation, rising interest rates, war in the Ukraine—uncertain times indeed! And yet, in the world of estate planning, almost every change in the zeitgeist offers its own suite of planning opportunities and applicable techniques.
Here are five critical mistakes to avoid when dealing with your beneficiary designations.
Grantor retained annuity trusts, intentionally defective grantor trusts, spousal lifetime access trusts, oh my! If you overhear two estate planning attorneys at a coffee shop, it would not be unreasonable to think that all clients have estate plans filled with trusts.
Adding an adult child to your house deed, or giving them the home outright, might seem like a smart thing to do. It usually isn’t.
More Americans are now getting married over the age of 65 than ever before. Even though this may be a second or third marriage for many, caregivers should nevertheless be aware of certain aspects that shouldn’t be ignored amidst all the wedding plans and celebrations.
Written by David Payne – Estate Planning Attorney, Ozarks Legacy Law As featured in JRS Cattlemen’s News – November 2022 Issue See Article Those without
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