News & Analysis as of September 20, 2024

Trusts

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Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process. less -

Are You Ready for National Make-a-Will Month? Ten Essential Questions You Need to Answer

Kohrman Jackson & Krantz LLP on 8/5/2024

August is “National Make-a-Will” Month, the perfect opportunity to seriously consider your estate plan. Many delay this crucial task due to common misconceptions about what an estate involves. Here, we delve deeper into what...more

Estate Planning for Families with Children Who Have Special Needs

Rivkin Radler LLP on 5/13/2024

A supplemental needs trust (SNT) is an important estate planning tool for those with a special needs child. It ensures that your special needs child is taken care of after you are gone. Unlike other types of trusts, assets...more

Should You Have a Trust for Your Child?

Bowditch & Dewey on 8/7/2023

There may have been a time in your life when you had a piggy bank for your child – a fun and interactive way for you to teach money management, patience, and basic math. The money went in, but it was often difficult to...more

My Parents Want to Leave My Son With Special Needs an Inheritance...Will He Lose His Benefits?

Ruder Ware on 8/29/2019

Leaving an inheritance to a loved one with special needs who is or will be receiving government benefits (SSI, medical assistance, long term care services) is tricky and can have unintended negative consequences if not done...more

10 Reasons to Create an Estate Plan Now

Chambliss, Bahner & Stophel, P.C. on 4/25/2019

Many people think that estate plans are for someone else, not them. They may rationalize that they are too young or don't have enough money to reap the tax benefits of a plan. But as the following list makes clear, estate...more

Choupette’s Legacy – Why Estate Planning Matters

Flaster Greenberg PC on 3/21/2019

It is speculated that Choupette Lagerfeld, the pampered Parisian pet of the iconic late German fashion designer, Karl Lagerfeld, may have a stake in Lagerfeld’s vast fortune....more

Navigating Special Needs Trusts For Children With Disabilities

Amundsen Davis LLC on 8/24/2018

Estate planning for parents of children with special needs can be overwhelming. Not only do parents need to consider how to provide for their child after they are gone, but they must also consider issues relating to how an...more

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