Before You Agree to Be a Trustee, Read This!
Although every Trust is different, serving as a Trustee comes with a few core requirements.
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Although every Trust is different, serving as a Trustee comes with a few core requirements.
Minor children cannot receive insurance benefits until they reach the age of majority—which can be as old as 21 in some states. In the event a minor is listed as a beneficiary, the proceeds of your insurance will be distributed to a court-appointed custodian, who will manage the funds (often for a not insignificant fee) until the child reaches the age of majority. At that point, all benefits are distributed to the beneficiary outright and unprotected.
More and more, we are seeing people come our way asking for an irrevocable trust, and so this article is designed to help you learn the difference and then get into an “eyes wide open” conversation about the right kind of trust for you and your loved ones.
When it comes to estate planning and wills, you have a variety of options for legal documents. The most common of these options is a “last will and testament,” which is also known simply as a “will.” But you may have also heard people talk about a “living will” and wonder what that is, and whether you need a living will in addition to a regular last will and testament.
Both terms describe important legal documents used in estate planning, but their purpose and function differ significantly. In this article, we will review some of the most critical things you need to know about living wills and why having a living will is essential to every adult’s estate plan. And, it may be that a living will is even more important than a last will and testament.
Have you heard the term Elder Law and wondered what it is? Have you wondered how you will pay for long-term care either at home or in a nursing home? Essentially, elder law attorneys are concerned with helping our clients pay for their long-term care. Statistically...
A combination of new legislation and the recent change of leadership in Washington stands to dramatically increase the income taxes on your taxable investments and the income taxes your loved ones will have to pay on inherited retirement accounts. However, purchasing...
Eric S. Beutel is an Estate Planning Attorney and practices in the Northern Kentucky area. Eric chose the practice of Estate Planning after a life-changing personal loss and has dedicated himself to protecting area families. He is committed to...
With people living longer than ever before, more and more seniors require long-term healthcare services in nursing homes and assisted living facilities. However, such care is extremely expensive, especially when it's needed for extended periods. Traditional healthcare...
Today, we’re seeing more and more people getting divorced in middle age and beyond. Indeed, the trend of couples getting divorced after age 50 has grown so common; it’s even garnered a nickname: “gray divorce.” Today, roughly one in four divorces involve those over...
Getting Divorced? Don’t Overlook These 4 Updates to Your Estate Plan—Part 2 Going through a divorce can be an overwhelming experience that impacts nearly every facet of your life, including estate planning. Yet, with so much to deal with during the divorce process,...