For most people, estate planning serves one purpose: to have ones affairs in order before it’s too late. By providing for guardianship for their children, writing up advance directives for healthcare and creating a will or an estate plan, people can ensure that the state will have no say over who raises their children, that their wishes with regards to end-of-life medical procedures are known and that their estate will […]
Read MorePosts Tagged ‘irrevocable trusts’
If you’ve been following my blog you probably know that many of the estate planning posts assume that a person’s heirs are his or her children. So what about childless couples, you may have been asking yourself, do they need a plan too? The answer is yes. At the very least, they should answer two questions: Who will inherit their property, and who should handle their affairs if they become […]
Read MoreWhat’s the difference between a revocable and an irrevocable trust? As an attorney, I often hear this question, usually with the person who’s asking adding something along the lines of: I know what the words mean, but what are the implications for each? Simply put, what distinguishes the two is how much control you retain over your assets. But then, once you reach a certain level of wealth, things get […]
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