Wills and Trusts can Be Ineffective If Designations are Ignored People, including attorneys, often fail to realize that beneficiary designations are controlled by what a Will or Trust says. The case of Wiley is an excellent example. He had a plan that his kids should share equally. However, he designated one of his sons to […]
I. Introduction• Purpose: Explanation of a streamlined estate plan designed to avoid probate without using a trust.• Key Benefits: Minimizes court involvement, simplifies asset transfer, reduces costs, and ensures faster distribution of assets.• Limitations: Not ideal for complex family situations, larger estates, or beneficiaries with special needs or disabilities. II. Core Components of the PlanA. […]
How Do I Create a Last Will and Testament or Revocable Living Trust? A Last Will or Trust is a critical part of any comprehensive estate plan. Unfortunately, the internet is flooded with conflicting information—some helpful, but much of it misleading or outright incorrect. This confusion often causes people to delay action or, worse, rely […]
