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Documents on Trusts And Estates
 

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HTMLDo-It-Yourself Estate Planning can be “Penny Wise and Pound Foolish”
Kevin M. Huss; Smith Haughey Rice & Roegge, P.C.;
Legal Alert/Article
December 16, 2014, previously published on November 19, 2014
A recent opinion from the Supreme Court of Florida (Aldrich v. Basile) highlights some of the potential pitfalls associated with "do-it-yourself" estate planning. In Aldrich, the Florida Supreme Court expressly recognized that, although the result of the case was the correct result under...

 

HTMLEstate Planning and Dementia: Answers to Common Questions
Kevin M. Huss; Smith Haughey Rice & Roegge, P.C.;
Legal Alert/Article
December 16, 2014, previously published on November 13, 2014
According to the Alzheimer's Association, dementia “is a general term for a decline in a person’s mental ability which is severe enough to interfere with daily life.” Dementia is not a specific disease, but rather refers to a wide range of memory decline or thinking skills which...

 

HTMLWills and Trusts: What’s the Difference?
Rachael M. Roseman; Smith Haughey Rice Roegge P.C.;
Legal Alert/Article
December 16, 2014, previously published on October 16, 2014
Many people ask about the differences between a will and a trust and which is better for them at that point in time. The short answer is: “it depends.” Neither is inherently “better,” but they are different. Both are legal devices designed to help people indicate how they...

 

HTMLTransfer of Residence to Living Trusts: Insurance Issues
Gregory R. Davis; Kaufman & Canoles A Professional Corporation;
Legal Alert/Article
December 1, 2014, previously published on November 12, 2014
Living trusts have become so popular that financial advisors, bankers, insurance agents and lawyers are accustomed to seeing their clients convey residences to living trusts. There are insurance pitfalls associated with conveying one’s residence to a living trust which advisors should be...

 

HTMLWhy Everyone Should Have a Will
Rehan Alimohammad; Alimohammad Zafar PLLC;
Legal Alert/Article
November 27, 2014, previously published on November 2014
A will is a legal declaration that details the management of the estate and the transfer of one’s assets upon death. The State of Texas has laws of descent and distribution that govern the distribution of your property if you happen to die without a will. Your property does not pass to the...

 

HTMLDuties and Role of an Executor
Rehan Alimohammad; Alimohammad Zafar PLLC;
Legal Alert/Article
November 27, 2014, previously published on November 2014
Your friend calls you up one day and says that he is writing his will. He asks if you will be willing to serve as executor. What should you say? Before you answer that question, you should know about the duties you will be responsible for if you choose to act as executor. This article ensures you...

 

HTMLEstate Planning Tune-up for Retirement
Roger L. Shumaker; McDonald Hopkins LLC;
Legal Alert/Article
November 22, 2014, previously published on November 12, 2014
Recent reports indicate that about 10,000 baby boomers turn 65 each day. Most are recently retired or anticipating retirement in the next few years. For most, their focus is on financial issues and questions that can be summed up in this question: Do I have enough income and savings for my desired...

 

HTMLTo Fido, I bequeath: A Look at Pet Trusts
William P. Ellsworth; Chuhak & Tecson, P.C.;
Legal Alert/Article
November 17, 2014, previously published on October 10, 2014
Every estate plan should help the client dispose of property for the benefit of the client’s loved ones in a way that makes individual sense and eases administration costs and delay. While watching my 16 month old son chase a battery powered, goading, robotic kitty around the rooms of my...

 

HTMLNovember 2014 Estate Planning Update: Charitable Giving & Your Estate Plan
Kristin M. Tyler; Gordon Silver;
Legal Alert/Article
November 17, 2014, previously published on October 27, 2014
Americans households gave over $316 billion to charities in 2012. Although the numbers aren’t finalized for 2013, some sources estimate that charitable giving increased by approximately 13%.

 

HTMLCommentary on New Illinois Estate Planning and Probate Laws
William P. Ellsworth; Chuhak & Tecson, P.C.;
Legal Alert/Article
November 17, 2014, previously published on October 10, 2014
The Illinois statute concerning healthcare powers of attorney has recently been modified to alter the statutory form. The law now requires that any new statutory power of attorney for healthcare (as of 1/1/15) recite the statute’s ‘question and answer’ notice section. After the...

 


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