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]
The law says that your kids magically become adults the day they turn 18. Regardless of their ability to wash a load of laundry or prepare a meal for themselves, our society has decided that their 18th birthday is your kids’ moment of emancipation from the totalitarian regime that is – according to your kid, anyway – your parenting. They’re not done with high school yet, but they’re certainly capable of reading and understanding a residential lease or property disclosure statement. Right? [Read More]
If you’re an NFL quarterback, you’ve reached the pinnacle of your profession. There’s nowhere left to go except down the ladder or into retirement. It’s the same with CEO’s like Mark Zuckerberg, Bill Gates, or Warren Buffet. As President, Barack Obama has hit the peak of his political career. Likewise with Supreme Court Justices: they are the capable-est, the intelligent-est, the wisest among all lawyers. While we have yet to hear what Justice Scalia’s estate plan looks like, it seems clear that his professional legacy is firmly fixed. [Read More]
For many parents, estate planning is primarily about their relationship with their children. But it’s hard to know where to even start thinking through the
One of the most important jobs of an estate planning attorney is to help parents choose the right guardian for their children. This is the
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]