Trusts

Having a Will drawn up is not a top priority for many people, particularly parents who are focused on raising their children. In addition to being extremely busy, talking about incapacity or death is discomforting and often times the conversation is easily dismissed or delayed. But here are a few reasons why it is imperative for everyone with a child to get a Will.

Minors need guardians.

It is unlikely that both parents will predecease their minor children. But it does happen. Naming a guardian in a Will allows parents to ensure that an individual (or the individuals) they trust will care for their minor children. Most parents have a spoken agreement with a family member or friend to step in as guardian if the need arises. And although the intended guardian may know of a parent’s wishes, he or she will likely be prevented from acting as primary caretaker unless he or she is named in a properly executed Will. If no guardian is named, the Court will likely name a close family member but almost every parent I speak with has a specific person in mind who will best care for their kids.

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Health Care Directive 101

by Maggie on May 8, 2010

Everyone needs one. No exceptions. No excuses. The Health Care Directive, also known as a Living Will, gives the authority or “health care power of attorney” to someone who makes health care decisions for an individual who is incapacitated. For purposes of this discussion, being incapacitated means that an individual is unable to communicate his or her wishes regarding his or her health care.  I like to explain this situation as being unable to talk, walk, wink, blink, move or squeeze a hand in any way that communicates with health care professionals.

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What is Probate?

May 1, 2010

Probate is the legal process by which a personal representative distributes a deceased person’s probate assets. Probate assets are those assets titled in a person’s name alone. Non-probate assets include jointly owned property, retirement and life insurance plans, and various other assets. A Will directs the transfer of probate assets while non-probate assets are transferred [...]

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