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Estate Planning Under the New Rules for Special Needs Trusts Following the recent legislative changes surrounding Special Needs Trusts (SNTs), individuals with disabilities should reevaluate their estate This shift emphasizes the importance of reviewing existing estate plans and seeking guidance from estate Given these changes, individuals with disabilities might find it beneficial to collaborate with an estate By engaging in a thorough review of their estate plans and consulting with knowledgeable professionals

There are growing reports of trouble on the horizon for Muhammad Ali’s estate and his legacy, according Because of this, the possibility of estate fighting is significant. Lonnie in charge of his estate. planning attorney and the wording of his will and/or trust documents. ” #Probate #Inheritance #Wills #Trusts #estateplanning

Prepare Your Estate Planning. Marriage also typically gives you some basic protections for a shared estate. However, unmarried couples serious enough to move in together should consult an estate attorney to draft Also, if you have significant net worth which would make you liable for federal estate tax, you should ask your attorney about a trust.

Under Texas law, a special needs trust is a trust that allows a person with a disability to have money We want to set it up early because their estate plan is going to differ when they have a special needs trust. the ability to update the estate plan in case the child’s parents predeceased them. A simple will does not include the estate planning tools necessary to ensure your child has the best

The caregiver may know that a special needs trust is a good tool for estate planning but worry about how to fund the trust. Funding a Special Needs Trust In some cases, the funding of the trust is fairly straightforward. The parents’ assets are put into the trust upon his or her death with instructions on how they are to Funding a special needs trust can also be a family or group initiative.

Revocable trusts are a very popular and useful estate planning tool, but the trust will be ineffective Not funding your trust can undermine your whole estate plan. To transfer assets to the trust, whether it is real estate, bank accounts, or investment accounts, you If you are placing real estate into the trust, you should consult with your attorney to ensure it is If you need assistance establishing a trust or updating your existing estate plan, call the experienced

For example, you may choose to put all of your assets in irrevocable trusts. By putting your assets in a trust , they are owned by the trust. #AssetProtection #HoustonAssetProtection #Trusts

, I encourage you to meet with a Houston wills lawyer right away so you can protect such funds in a trust #Divorce #Guardianship #Trusts

Many people assume having a last will and testament is the centerpiece of any satisfactory estate plan A pet trust is similar to other trusts where you create a trust that designates a trustee and a caregiver Most estate planning law firms do not help clients fund their trust, but a trust does not work unless Bottom Line If you are unsure whether a trust is right for your estate plan, you do not have to figure options that best fit your needs, contact us to schedule a consultation to talk about your specific estate

At the heart of this goal in Texas lies the family trust—a potent instrument in the estate planning toolkit Working with an estate planning attorney is not just beneficial here; it’s essential. At each stage, the guidance of an experienced estate planning attorney becomes invaluable. Treading Carefully: Trust Challenges While trusts are invaluable tools in estate planning, they can sometimes By proactively addressing potential points of contention and seeking the expertise of an estate planning

the paperwork in Minneapolis petitioning the court to appoint a special administrator for Prince’s estate on April 21st, according to The International Business Times in “Prince ‘made no will’ for his $300m estate She reportedly requested that Bremer Trust, a corporate trust company, be named administrator of her brother’s estate. Reference: International Business Times (April 26, 2016) “Prince ‘made no will’ for his $300m estate

Sound Estate Plan,” sets out an estate planning checklist to help you start a solid estate plan. Draft a Living Trust. planning attorney to create a detailed trust. Be sure to work with a qualified estate planning attorney to make sure that the estate plan will foster #PowerofAttorney #Wills #LivingTrust #ElderLawAttorney #Trusts #estateplanning