What is a Testamentary Trust?
A testamentary trust is basically language written into a Last Will and Testament that holds and manages estate assets for a beneficiary over a period of time beyond the probate estate being initially settled. Unfortunately, this has a lot of drawbacks depending on state law. A testamentary trust may mean that the beneficiary’s share has […]
Should I do a Will or Trust
This question of a will or trust comes up all of the time when it comes to estate planning. Unfortunately, many attorneys and other professionals try to cram and squish this very subjective square peg into an objective round hole with a sledgehammer. The fact is that there is no simple “one-size-fits-all” number answer to […]
Schedule A is Missing
You know a plan is broken into a thousand-piece puzzle when the pages of the trust were taken out of the binder, put back out of order, and some pages are missing. But what happens when the “all-important” (sarcasm inserted here) Schedule A is one of those missing pages? It turns out in California that […]
I Want a Revocable Living Trust
I Want a Revocable Living Trust… Do I Need a Will? “Well, if you have a Revocable Living Trust, don’t you also need a Will?” the other attorney asked. “Yeah, you need a Will,” I responded. “Ah ha!” the other attorney exclaimed as if he has just made some profound and overriding point to justify […]
Legacies: What We Leave Behind
What We Leave Behind is More Than Money When it comes to estate planning, it comes down to what assets you want to pass along and how it happens. However, the legacies we leave behind are often far more than money. In this broadcast originally to The Plain English Attorney Community, attorney and author Jeffrey […]
How Much Is An Estate Plan?
When approaching something new and unfamiliar, people tend to think of things like estate planning in the simplest terms possible. However, it’s not like going to the grocery store to buy a gallon of milk where there may be some small differences, but by and large, there is not much of a price difference and […]
Preview of “Estate Planning Basics” Audiobook
The keystone to our law office’s estate planning process is my book Estate Planning Basics, provided as required reading for every Estate Strategy Session with clients wishing to discuss their estate planning goals. That in combination with filling out a basic questionnaire means our clients don’t waste our valuable time together with me transcribing names, […]
Declare Independence From Probate
I wrote this blog back on Independence Day, but I wanted to share it with everyone. I Want You to Declare Independence From Probate I know it sounds like a stretch to compare our country’s independence to estate planning, but hear me out on this. In 1776, our colonial leaders decided they didn’t want government […]
Will Bank Honor Pre-Arranged Payments After Death?
Pre-Arranged Payments – Simple Solution It seems like there should be a simple solution, but often the simplest solutions have the most complex ramifications and pitfalls. In this blog, I review two posts from Reddit about different options to make sure critical transfers or payments from an account will continue even after death. But can […]
The High Cost of “Low Probate Fees”
Probate Fees “Probate fees in our state are not that high.” Unfortunately, I hear this from some attorneys who focus their practice on handling probate, and probate is exactly what you get when you rely on a Last Will and Testament for your estate plan. Considering the massive attorney’s fees involved in handling full-blown probate […]