Trusts

NO NEED TO BE AFRAID OF PROBATE

You’ve probably heard people say a million times: It’s best to keep your family’s assets out of probate.  While I agree that’s it’s often a good idea to limit or minimize the effect that the probate estate administration process may have on your assets after your death, it’s still important to keep in mind that in many states probate... Read More

JAMES GANDOLFINI died on 6/13/2013 in Rome as the result of a Heart Attack.

ESTATE MISTAKE:

Tony Soprano might have been a wise guy, but the actor who played him might not have been too smart for not putting his estate into a trust. He left only 20 percent of his estate to his wife, who had an unlimited deduction as his spouse. So 80 percent of his $70 million... Read More

PAUL W. WALKER, IV

AGE: 40

DIED: 11/30/2013; Valencia, CA; Car Crash

ESTATE MISTAKE:

The "Fast & Furious" actor used a pour-over will to funnel his $25 million estate into a trust for his 15-year-old daughter. This arrangement makes the estate a public affair. He also failed to update his plan for 12 years, so it might not have represented... Read More

Here's a great little article highlighting 3 important estate planning considerations for our ever aging population.  Take a read.

Three crucial areas to discuss with your clients
Jul 5, 2016John M. Goralka | Trusts & Estates

In the United States, we’re all living longer—at least, I plan to do so if at all possible. Today, men live an average of 76... Read More

PROTECTING DIGITAL ASSETS:

6 Important Steps to Take on Death or Incapacity

It used to be enough for a fiduciary and his attorney to simply search through a decedent’s or incapacitated person’s papers in his or her workplace and at home, watch the mailbox for a 90 day cycle, and review tax returns and account statements. Things are more complicated now and a... Read More

If you assume that you don’t have any assets, you could be making the mistake of skipping out on an estate plan entirely. An estate plan is one of the most important collections of documents that you will have and there are many reasons why.

Every person has an estate with very few exceptions.  Even a young child who has a custodial account in his or her name could... Read More