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Before going into details, I’m just going to start out by answering this question. “Absolutely not!” Transferring property into your child’s name while you are still alive is probably one of the most horrible ideas of your life. I’m serious. Real estate transfers are not a DIY, or quick and done kind of matter, as there are many ways that the … [Read more...]
The 4 Methods of Property Transfer and How They Work Together After You Die
Very frequently, individuals call my office and say - Angel, I just need a Simple Will. I don’t have much, and I’m leaving everything to my kids and/or my spouse. I don’t need anything fancy. Or I hear, more rarely, but still sometimes - I just need a Revocable Trust for all my property - I don’t a Will or any of those other documents. I … [Read more...]
Who Should Have an Estate Plan? Do I Need One?
Right out of the gate, the resounding answer to this question is EVERYONE above the age of 18 needs an estate plan. And thus, Yes!! YOU NEED AN ESTATE PLAN. The only person who does not need an estate plan is immortal. And I would make an argument that even an immortal should have an estate plan as how else will they transfer their amassed wealth … [Read more...]
Benefits of Working With An Estate Planning Attorney Vs. Doing It Yourself (DIY) Online
It may seem cheap, quick and easy to get your estate plan done using an online do-it-yourself legal document creation service. But the downside of these DIY services is that there is NO ONE to guide you and guarantee that you have accurate, complete or even semi-functional legal estate documents in place. (Which means what you print may not even … [Read more...]
How to Appoint Long and Short Term Guardians For Your Children
Most parents of young children think - “I need a will so that I can tell the state who should parent my children if I die.” But a guardian nomination in a will can only do part of the job, as it does not actually appoint parental substitutes to act in case of emergency. Here I will explain what you need to do to ensure you have appointed long … [Read more...]
The difference between a Will and a Living Trust
What is the difference between a Will and Trust? And why do I need one or the other? This is the most frequently asked question I get from clients and potential clients. The short answer is - you need both, because they do two different things for a comprehensive estate plan. Wills: Your Last Testimony A will (i.e. a Last Will and … [Read more...]
Should I Have A Will Or A Trust In My Estate Plan?
There are many different ways to prepare for your future with your estate planning attorney. There are many different types of documents, plans, and decisions that you have to make when deciding how you want to distribute your estate. When looking at the options and deciding what estate plan is best for your situation, you may find yourself … [Read more...]