You may have heard of Wills, you may even know that you need one, but do you know what makes a Will valid? Why Valid Wills Are Important. Your Last Will and Testament (“Will”) determines how your property is divided when you die and who gets what. Having a Will is one of the most [...]
We frequently get questions asking us about the difference between a will and a trust. While there are several important differences, here are just 2: Differences in Form and Purpose. Your will (“Last Will and Testament”) is a legal document that states your final wishes and gives instructions about how to divide up your property [...]
Usually when we mention probate, we are talking about how to avoid it. Today we thought we would give you a peek into the (dreaded) probate process. What Is Probate? Probate is the court-supervised process of distributing your assets to your heirs when you die. If you die leaving property (especially real estate) in [...]
No doubt about it; technology has revolutionized our lives and our society. It has even changed what is considered to be part of a person’s “estate” when they die. #DigitalEstatePlanning. “Back in the day” all you had to worry about was your present life, the afterlife and passing on your tangible assets (real property, [...]
If someone asks you to be the trustee of their trust, should you do it? Well, as is so often the answer in law, it all depends. One thing is certain, however, and that is that before you say yes, you should fully understand what you would be agreeing to. So let’s take a look [...]
Lots of people have trust issues. In our practice, the one we see most often is: who should you choose as your trustee? Trusts. A trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets (money or property) on behalf of a beneficiary or beneficiaries (the person or persons for [...]
In its most basic form, estate planning is organizing your assets and making sure that your property goes to the people you want it to go to after you die. But here at Esser, Bradley & Khalsa, PLLC, we take estate planning well beyond the basics. One of the things we always want our clients [...]
As the old saying goes, nothing is certain except death and taxes. Since we so often talk about death here on our trusts and estates blog, we thought that today we would spice things up a bit and talk about taxes—estate taxes as a matter of fact. The Joy of Giving Gifts While Reducing Estate [...]
February 14 was Valentine’s Day! Just think of it: romance, roses, candlelight dinners… and, of course, chocolate! What in the world could be better than that? Only one thing that we can think of… a Revocable Living trust. What is a Revocable Living Trust? More commonly called a “Living Trust” (or, sometimes, “inter vivos [...]
In estate planning, you may often hear these titles being kicked around: Personal Representative, Beneficiary, or Trustee. But who are these people and what do they have to do with your Legacy Estate Plan? Let’s find out. Trusts, Beneficiaries and Trustees. Before we can have a beneficiary or trustee, we first need to have a [...]
