What Is a Living Trust? A living trust is an agreement in which a settlor (the person who creates the trust) appoints a trustee, to manage the assets within the trust, on behalf of the beneficiary or beneficiaries named in it. The beneficiary can be you or anyone else you name. It’s called a “living…
Today’s video talks about the language of a statutory power of attorney document and the limitations it has when it comes “self dealing”. Essentially, your Power of attorney may not have the ability to transfer assets to themselves. This becomes a problem when you have a couple who are each other’s POAs. I hope this…
The first question you need to ask yourself is if the last will and testament the only thing you need. The reason why most people don’t ask themselves this question is because they are not aware that there is anything else. In most cases, if you think you need a will, you probably need an…
It’s understandable that some people think that if the assets are under a different name, they are no longer considered yours. While that is true in most cases, Medicaid has slightly different rules.
So don’t put “transfer assets to spouse” on your to-do list just yet. Watch the video below and let Attorney Joan Wilson explain why.
Does Your Will Determine Who Inherits Your Assets When You Die? Last month I discussed how clients are often unpleasantly surprised to learn that having a Last Will and Testament does not negate the need for probate. Many people also incorrectly believe that the Will is KING. They think that the terms of the Will…
Have you heard of the “READING OF THE WILL”? Of course, you have! because it has been a scene in many TV shows and movies. After someone dies, the lawyer hosts a meeting in his (usually “his” because, well, you know, but that’s a topic for another time…) office. Everyone who had a relationship with…
