Why are Trusts a Good Idea?
November 3, 2022
Whether you are trying to protect your assets from possible creditors, prevent young heirs from spending their inheritance or minimize estate taxes, there is likely a trust for you.
Johnson Law Firm
Whether you are trying to protect your assets from possible creditors, prevent young heirs from spending their inheritance or minimize estate taxes, there is likely a trust for you.
People who have had a serious case of COVID-19 are 66% more likely to engage in estate planning, and 32% of adults under 35 said they wrote a will because of the pandemic.
There are two documents everyone needs in their estate plan: The Durable Power of Attorney (DPOA) and a Health Surrogacy or Advanced Health Directive.
Chances are, your home is full to the brim with cherished memories of family and friends. But, as you get older, you may start wondering what exactly will happen to your home when you pass away. Fortunately, a life estate can take away the uncertainty of this thought by legally assigning an heir to receive your property without interference from court proceedings.
Most people think of wills as written instructions for use after death. In contrast, living wills provide your instructions for continuing or halting life-sustaining healthcare while you’re alive.
Nobody wants to think about how their loved ones will cope when they die. However, it’s important to plan effectively to ensure a smooth transition of your wealth and worldly possessions — even if you’re young or feel like you don’t have much to leave behind.
With the largest spike in mortality in the United States in a century, following the onset of the pandemic, providing for one’s pets after death has become a growing topic of conversation for many animal lovers across the country.
My mother told me many times over the years that she had a will, and I believed her. When she passed away, we discovered that her will was 40 years old—and completely useless.
According to experts, despite increased phishing emails and robocalls, it is far more common for financial exploitation to be committed by people who know the victim, such as relatives, caregivers, neighbors, or ‘friends.’
When you own or operate a business, ensuring that this plan accounts for the future of the business is critical.
