Why use a trust rather than a will?

Why use a trust rather than a will?

It is possible to use either a “will” or a “trust” to direct property into the right hands following your death.  While wills accomplish little more than that limited goal...

Can I safely tell my lawyer things that I don’t want my family to know?

Can I safely tell my lawyer things that I don’t want my family to know?

Every lawyer generally has a duty of confidentiality, which prohibits the unauthorized disclosure of confidential client information.  There are exceptions, however, such as when disclosure is necessary to prevent the client from committing a fraud that would...

What happens if a parent dies without updating his will or trust to reflect the arrival of a new child?

What happens if a parent dies without updating his will or trust to reflect the arrival of a new child?

The only correct short answer is, “It depends.”  First, it depends on the wording of the deceased parent’s will or trust.  Many such documents specifically provide for after-born children, but many others do not.  Second, it depends on applicable law.  Every state has a statute that is intended to protect the interests of...

What would happen to my property if I died without a will?

What would happen to my property if I died without a will?

Many people die without having designated in a will who should take their property, but that does not necessarily mean that their goals are not accomplished. So-called “will-substitutes” sometimes do the work of a will. The most common will-substitutes are...

When does it make sense to ask a bank to serve as trustee or co-trustee of a family trust?

When does it make sense to ask a bank to serve as trustee or co-trustee of a family trust?

When does it make sense to ask a bank to serve as trustee or co-trustee of a family trust? The term family trust could refer to any trust whose intended beneficiaries are family members of the person who sets up the trust.  That person is usually called the “settlor,” but the words grantor and trustor are also sometimes used.

Do I need to re-do my estate plan if I move from one state to another?

Do I need to re-do my estate plan if I move from one state to another?

First the good news: In most cases people moving to (or from) Hawaii do not need to redo their estate plans.  The bad news: There are many possible exceptions. Estate planning laws differ from State to State, so it is recomended to check with an attorney in the new State.

Is it time to update my estate plan?

Is it time to update my estate plan?

An estate plan should provide peace of mind that your wishes will be carried out and your loves ones taken care of.  For those of you who have created an estate plan, you know what I am talking about.  However, shortly after you achieve this blissful state of being, you tuck your documents away in a safe place and continue living life. 

 

Should I talk to my parents about their estate plan?

Should I talk to my parents about their estate plan?

The question on whether you should discuss your parent's’ estate plan with them is a common question.  The short answer is, “It just depends.” Every family is different, but here are some things to consider.


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