Building and Protecting Families
Posted in Estate Planning, Estate Planning Term of the Week, Probate on Feb 24th, 2010
Ancillary Probate Definition: Ancillary Probate is a secondary probate proceeding that occurs in a state where the decedent did not live, but where the decedent owned property. Tweet
Posted in Estate Planning, Estate Planning Term of the Week on Feb 17th, 2010
Administrator Definition: The person who is responsible for settling a deceased person’s estate. The administrator is named in your Will or appointed by the probate court if you do not have a Will. Also Known As: Personal Representative or Executor/Executrix Tweet
Posted in Estate Planning, Guardianship Planning for Minors on Feb 15th, 2010
4 Documents Every Parent With Minor Children Should Have Welcome to the last installment of my five-part series, The Basics of Estate Planning. In part I, we defined estate planning and provided examples of what could happen to you if die without an estate plan. In part II, we discussed Wills, the advantages and disadvantages [...]
Posted in Estate Planning, Estate Planning Term of the Week, Estate Taxes on Feb 10th, 2010
AB Trust Definition: AB Trusts are used by married couples to maximize the federal estate tax exemptions of both spouses. When the first spouse dies, that spouse’s estate plan (e.g., a Revocable Living Trust or Will) directs the division of their assets into two Trusts. The first Trust (Trust B) contains the amount of assets [...]
Posted in Estate Planning on Feb 8th, 2010
One very important part of estate planning that is often overlooked is Incapacity or Disability Planning. Most people view estate planning as planning for what happens after you die. However, what would happen if you became mentally incapacitated? To take care of yourself and to maintain control of your financial affairs during a period of [...]
Posted in Estate Planning, Estate Planning Term of the Week on Feb 3rd, 2010
Today starts a new educational tool for Kinsey Law Group – stay tuned on Wednesdays for a new Estate Planning Term of the Week. Today’s term is Advance Medical Directive. Advance Medical Directive Definition: A legal document that allows you to name another person to make health care decisions for you if you are [...]
Posted in Estate Planning on Feb 1st, 2010
If you have a Revocable Living Trust (RLT) make sure it is properly funded. Funding is the process of re-titling assets (changing ownership) to the name of your Trust or making your RLT the primary or secondary beneficiary of assets that require a beneficiary designation (e.g., retirement plans or insurance policies). Tweet