Asset Protection, Wills, Trusts, Estate & Business Planning
So I’ve been reading the ATF Federal Firearms Regulations Reference Guide 2014, the most current version as of March 7, 2015, so you don’t have to. It’s actually an interesting read if you’re into statutes, rules, regulations, and such. Try it. You may have a knack for deciphering dense, jargon-laden language. But if not . . . […]
So when I began this blog post about this guy, I had to look up the spelling of the word “twitterpated” for the title to the post, which led to this: And now that I’m done with that, let me return to writing about the guy I began with, Don Willett. He’s apparently on the short […]
A recent study by the University of Chicago Crime Lab published in the Journal of Preventive Medicine, coupled with a move by Senator Tim Kaine (D-Va.) to amend Section 922(d) of the Gun Control Act of 1963 (18 U.S.C. 44), provide yet another reason for gun owners to set up a gun trust. The Chicago […]
Brian Vnak, over at MarketWatch, just penned a piece titled “How to Take the Stress Out of Estate Planning.” He gives four ideas to support his title, among them, number 3: “Gift assets while you’re still living — addition by subtraction.” That’s a good idea, by the way, if only to take the monkey off your […]
Another helpful link, this one from Northern Trust: 6 Things to Ask Yourself as a Business Owner. Sorry for the quick spate of links to videos and webinars. I happen to be on the look for something else, and found these instead. I thought they may be of interest to my readers. This one is […]
Courtesy of the ABA, here’s a link to an on-demand webinar that should answer a lot of your questions about estate planning. As the brief description of the webinar says, “The program is intended for the general public and does not require a background in the law of wills or trusts or tax.” Click on […]
Virtually everyone should have a will. To see why, go here. But most people would do well to have a trust. Get that? You don’t have to be Bill Gates to need a trust. Here are five reasons why: 1. Avoid probate. Probate is the word we use to describe the legal process, the court proceedings, […]
A trust is a fiduciary relationship between a trustee and beneficiaries of the trust. Trusts can be implied and express. Implied trusts are court created in order to prevent unjust enrichment (a constructive trust) or to carry out what the parties intended, but failed to do properly. In estate planning, we concerned almost entirely with […]
A guardian is a person appointed by another person or a court to care for another person or their property. That other person will be either a minor or a legally incompetent adult and is referred to as the “ward.” Guardians of the ward’s person are always called guardians. Sometimes guardians of the estate or […]
As we discussed in 5 Reasons You Need a Will, a valid will controls where your money goes when you die–except when it doesn’t. In some states for instance, the maker of a will–the testator–can’t disinherit a spouse. In Wyoming for example, a disinherited spouse can “elect” to take 1/4 to 1/2 of the property disposed […]