Gifts, Advances, and Loans: Balancing an Estate Plan When the Kids Need Money NOW
Estate Planning distributions aren’t always clean and even. Sometimes the kids and grandkids need money during life, and providing it to them can raise questions. (This can also be true when using a Will, but now the probate court is involved.) But whether something is classified as a gift, an advance on an inheritance, or […]
My Parents Are Doing Estate Planning
What Do I Need to Know? The following was a post to Reddit on the r/estateplanning thread along with my response. The person posting was looking for information on what to expect in the estate planning meeting with their parents and attorney… but most of the traditional attorneys jumped into providing advice to the parents on […]
Should I Make My Parents Trustees?
One of the most important decisions you can make in estate planning is choosing the right trustees. A frequent question that comes up when speaking with my clients who have younger children is whether or not to name their own parents as trustees. They often believe that naming someone older than them is not a […]
Should A Law Firm Be Your Trustee?
This is actually a question that came up in a Reddit Format, so we’re going to go ahead and go through the question and some of the comments. Executor and Alternate Trustee – “We’re working with a law firm to create a living trust. We are having a hard time choosing an executor and alternate trustee. […]