Studies[1] have shown that the largest contributing factors to generational loss of wealth are a lack of communication and trust among family members and the failure to prepare heirs.[2] Often, fear is what underlies the lack of communication and trust that inevitably leads to unprepared heirs. The following are some of the fears that prevent […]
Asking someone to serve as your fiduciary (trustee of your trust or personal representative or executor under your last will and testament) is not something you should do lightly. Serving as a fiduciary is a heavy responsibility that requires significant time and effort. If you plan to nominate a family member or friend to serve […]
Clients often naturally choose their children to be beneficiaries of their revocable living trusts. Many clients also wish to name one or more of their children as the trustee of that trust, but are not sure if that is allowed by the law. The short answer is yes, you can have a trustee who is […]
In the world of estate planning, terms that refer to legal documents such as wills, trusts, powers of attorney, and healthcare directives can be confusing and even overwhelming at times. What is a will, and how does it differ from a trust? What distinguishes a springing power of attorney from an immediate power of attorney? […]
