I often get this question: Do I need a trust or a will? The answer is that if you have a trust, you also need a will. I saw this article from the blog Fatherly and realized that even those holding themselves out as experts have no idea about the interplay between
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TAX REFORM IS COMING—SHOULD I DELAY MY ESTATE PLAN?
I recently heard this question: “given that Congress is going to enact tax reform, should I delay establishing my estate plan?” The questioner reasoned that once Congress acts he would need to change his estate plan anyways. The short answer to this question is “no.” Get your estate plan now. Firstly, the tax most individuals…
CAN MY TEXT MESSAGES BE A WILL?
A recent case in Australia answered the question of whether a text message can create a will. The Court ruled that a decedent’s text messages, some of which were unsent, could constitute a will. http://www.telegraph.co.uk/news/2017/10/11/dead-mans-unsent-text-message-accepted-will/. Think about how much confusion (not to mention fraud) this could create if this was the law in Arizona. …
PROTECT YOURSELF FROM THEFT: CHOOSE THE RIGHT PERSON AS POWER OF ATTORNEY
Bad estate planning decisions happen all the time, even when you have a great attorney. One common mistake: Choosing the wrong person to be your power of attorney. A recent case in the news was a great reminder. http://www.channel3000.com/news/crime/power-of-attorney-charged-with-taking-using-mans-money-for-personal-use/607446161. In that case, a Wisconsin woman became an elderly man’s power of attorney. After time,…
Equifax–Be Careful of Accepting Help From Equifax
I was asked to comment on the Equifax credit dispute. Be careful of accepting the free credit monitoring service.
I was asked to comment on arbitration on Channel 3.
FOUR ESTATE PLANNING TOOLS EVERYONE NEEDS
WARNING: At some point in your life the unexpected will happen. If that “unexpected” is sickness, becoming mentally incompetent, or dying, you will need certain legal tools to get you through that period. As you are guaranteed to either get sick, become mentally incompetent, or die, or all of them, my advice to you is…
Death and Debt
This is a terrible and misleading article and I want to set the record straight regarding debts and death: 1. If your loved one dies (who is not your spouse) and the loved one leaves behind debt, the survivors are NOT responsible for that debt; rather, the estate of the deceased is responsible. It is…
FATAL ESTATE PLANNING MISTAKES: ACCOUNTS IN JOINT TENANCY
This is the third article in a series, Fatal Estate Planning Mistakes, which focuses on “war stories” regarding common estate planning mistakes, as seen by a probate and trust litigator. These stories are meant to serve as lessons for the average reader. If the reader sees the mistake below in his or her estate plan, …
FATAL ESTATE PLANNING MISTAKES
Wills Without WitnessesThis is the second article in the series, Fatal Estate Planning Mistakes, which focuses on “war stories” regarding common estate planning mistakes, as seen by a probate and trust litigator. These stories are meant to serve as a lesson for the average reader. If the reader sees this mistake below in his …