Watch Your Language: Grantor
The grantor is the person who creates a trust. No matter what type of trust you have, the grantor is always in charge because they set the trust’s terms. [Read More]
The grantor is the person who creates a trust. No matter what type of trust you have, the grantor is always in charge because they set the trust’s terms. [Read More]
The trustee manages trust assets, but the grantor is the person who’s really in charge.
Do you need a trust? Well, it depends.
One of the most common questions I hear during our Mutual Interviews is, “Do I need a trust?” And the typical lawyer answer is, “It depends.” In order to answer that question, we need to start by defining what a trust actually is. [Read More]
Welcome to our fifth and final part of our 101 Death Hacks. Keeping it Current Update your fiduciaries’ contact information every time their information changes
When you build a house, you want to do so efficiently. Pine 2x4s are cheaper than 1½” oak floor boards, so that’s what you use to frame the house. When you’re making your estate plan, you don’t want the family farm to wind up being sold to pay a tax bill, the costs of probate, or the medical expenses of your beneficiaries. Fortunately, with a little forethought and some organization, you can avoid those kinds of problems and make a plan to pay or even avoid those costs without jeopardizing your wishes. [Read More]
Up to this point in the 101 Death Hacks series, we’ve mainly focused on the philosophy behind your estate plan. Starting today, we’re going to get much more practical about making an estate plan by focusing on ways to communicate your wishes and how to do that efficiently and effectively. Read on to learn about what to write down in your will and trust to make them more effective and how your estate planning can help manage the emotional transition caused by your death. [Read More]
One of the many documents an elder law and long-term care planning attorney in the Northwest Iowa area will encourage clients to put together is a living will. These documents have been considered incredibly important in both the legal and medical fields for 40+ years. A living will provides you with the opportunity to make your medical wishes known should you become incapacitated and unable to make decisions at the time. [Read More]
There are some common questions which go along with revoking a will, but one of the most asked is whether or not revoking the will revives a prior one. The answer to this question is “probably not.” When setting up your estate planning needs, your attorney will likely help you create a will. If you decide to make changes and create a new will later, the previous version is no longer in effect. [Read More]
Parents of children with special needs in Northwest Iowa face a whole extra set of challenges in addition to those of other parents. On top of physical therapy, occupational therapy, IEPs, and any of a million other details, these parents face additional planning needs. That’s where a special needs planning attorney in Northwest Iowa can make a huge difference in these parents’ peace of mind. [Read More]
A divorce—also called a dissolution of marriage—can take a fairly long time (months or even years) to complete. And when a divorce is imminent, meeting with an estate planning attorney in Northwest Iowa is likely not at the top of anyone’s list of things to do. But, it very well should be. [Read More]