living trust | Law Firm Newswire

Virginia Beach, VA (Law Firm Newswire) June 9, 2016 – When an individual or family has an estate plan, it is important to review the documents periodically, and to update them. It is also important to make certain that specific assets are contained within the trust. Any changes in the financial or family situation should be reflected in a revision of the estate planning documents. There are some life events that may prompt the testator to review the estate plan. “Due to changes in circumstances, it is advisable to review the estate plan whenever there is a major life-changing event, […]


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Roseville, CA (Law Firm Newswire) April 25, 2016 – It is imperative that people understand the consequences of holding title to assets and that the ways in which the owner holds title can greatly impact the transfer of the property upon the owner’s death. Some individuals choose to add an agent to an account when they are depending on that person to help with the management of their finances. This method does not provide the agent with any ownership rights or name the agent as a beneficiary. However, it grants the agent permission to act on behalf of the owner […]


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Fairfax, VA (Law Firm Newswire) August 7, 2014 – The late North Carolina basketball coach Dean Smith left $200 to each of approximately 180 players he had coached for years. The payments are not from his will, but rather from his revocable living trust. A revocable living trust is an estate planning tool that is used partly to maintain some level of privacy concerning the details of one’s estate. While wills are public documents, and thus available to anyone who wishes to search public records, trusts are private. Smith’s generosity was publicized because players uploaded photos of his letters and […]


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White Plains, NY (Law Firm Newswire) November 29, 2013 – When someone dies and does not leave a will stipulating what should happen to their, numerous issues must be decided. Often, certain assets fall outside of a will. There are assets that are not dictated by a will, including the proceeds of life insurance; bank accounts, real estate and assets held jointly; property held in a living trust; funds in a 401(k) or IRA; a retirement plan with a beneficiary, and community property with rights of survivorship. The inheritor of such properties – those not covered by a will – […]


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White Plains, NY (Law Firm Newswire) September 6, 2013 – A family-owned business is a hard-won commodity and considered a legacy to be passed on to the next generation. However, that legacy can be lost in the transition from one generation to the next; more than 70 percent of family-owned businesses do not successfully survive the transfer. Estate planning specialists say that business owners may wish to develop a transition plan with an estate planning attorney to ensure the business makes it to their children intact upon their retirement or death. How can business owners ensure their plans for the […]


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