Understanding Primary and Contingent Beneficiaries is essential for Estate Planning

September 3, 2024

Creating an estate plan is the most important way to ensure that your wishes will go into effect after you pass away. During estate planning, you’ll have to designate beneficiaries. Understanding the difference between primary and contingent beneficiaries is essential for estate planning. Knowing this distinction can make your estate plan more comprehensive and effective, giving you peace of mind that your loved ones will be okay when you’re gone.

A primary beneficiary is the person or entity you choose to receive your assets first when you pass away. This could be a spouse, a child, a friend, or even a charity. When you set up a will, trust, or other financial accounts, like life insurance or retirement, you’ll be asked to name one or more primary beneficiaries.

You might name your spouse as the primary beneficiary if you have a life insurance policy. If you pass away, your spouse will receive the payout directly.

Choosing a primary beneficiary ensures that your assets go to the person or organization you want them to benefit. It can also help avoid conflicts among family members and ensure a smooth transfer of assets. You minimize the chances of disputes and legal challenges by clearly designating who should receive your assets.

Life is unpredictable, and there might be situations where your primary beneficiary cannot receive your assets. They might predecease you, be unable to be located, or simply refuse the inheritance. This is where a contingent beneficiary comes into play.

A contingent beneficiary, or secondary beneficiary, is essentially a backup beneficiary. The contingent beneficiary is next in line if the primary beneficiary cannot receive the assets. For instance, if your spouse is the primary beneficiary and they pass away before you, your contingent beneficiary will receive the assets instead.

According to ElderLawAnswers, naming a contingent beneficiary is essential in estate planning. A contingent beneficiary is designated to receive your assets if your primary beneficiary cannot do so.

This additional layer of planning provides security and peace of mind, guaranteeing that your assets are passed on as you intended, regardless of any unexpected events involving your primary beneficiary. Your wishes will remain clear even in unforeseen circumstances, and your estate plan will carry them out.

Yes, you can designate multiple primary and contingent beneficiaries. This is particularly useful if you have a large estate or multiple heirs. For example, you might want to divide your estate equally among your children. In this case, you can name all your children as primary beneficiaries, each receiving a specified percentage of your assets.

When you have multiple primary beneficiaries, your assets are divided according to the percentages you specify. If one of the primary beneficiaries cannot receive their share, their portion can be reallocated to the remaining primary beneficiaries or passed on to the contingent beneficiaries.

You can similarly have multiple contingent beneficiaries. For example, you might name your spouse as the primary beneficiary and your two children as contingent beneficiaries. If your spouse cannot receive the assets, your children would then receive the assets consistent with your instructions.

While beneficiaries are individuals you choose to receive your assets, heirs-at-law are entitled to inherit from you under state law if you don’t have a will. Without an estate plan, state intestacy laws will distribute your assets. This usually goes to your closest relatives, such as your spouse and children. Designating primary and contingent beneficiaries allows you to control who receives your assets rather than leaving it to state law.

Life circumstances change, and so should your estate plan. Major life events such as marriage, divorce, the birth of a child, or the death of a beneficiary may require updates to your beneficiaries. Regularly reviewing and updating your estate plan ensures that it remains aligned with your current wishes and life situation.

Understanding the roles of primary and contingent beneficiaries is essential for robust estate planning. It ensures that your assets are distributed according to your wishes, even in unexpected circumstances.

An experienced estate planning attorney can help you designate beneficiaries, create a comprehensive estate plan and provide peace of mind for you and your loved ones. If you would like to learn more about beneficiaries and their role in estate planning, please visit our previous posts.

Reference: ElderLawAnswers (May 20, 2024) “What Is a Contingent Beneficiary?”

Image by Kenny Holmes

Estate Planning is Critical for a Single Parent

August 15, 2024

Raising a child or children by yourself is challenging on many levels. Single parents have very little spare time or resources. Estate planning is critical for a single parent, even more than if another parent was involved, as discussed in a recent article from The News-Enterprise, “Single parents must be deliberate in estate planning.”

Two key decisions to be made with minor children are who to name in a will as their guardian, the person who will raise them if the parent dies or is incapacitated, and who will be in charge of their finances. If another biological parent is involved in their care, things can get complicated.

Whether or not the other parent will be named as a guardian who will take custody of the child(ren) depends on whether or not they have any legal custody of the children. If the parents were married at one time but the marriage ended after the child was born, there is likely to be a separation agreement addressing custody.

If both parents share custody, the surviving parent would take custody of the child. This is standard practice, regardless of who has primary custody.

But if the parents never married and no one pursued an order of paternity or entered a custody order recognizing the legal rights of the noncustodial parent, or if a parent has lost any legal rights to the child, the parent needs to name a guardian and an alternate guardian.

Even if there is a surviving parent, you’ll want to name at least one guardian and one contingent guardian. There are instances when the noncustodial parent prefers not to become the custodial parent, even if the child’s other parent has died. There are also cases where the noncustodial parent is not fit to raise a child, so having other potential guardians named is a better idea.

Separate from the guardianship issue is the decision of who should manage the assets left for the child. You have a right to name the person of your choice to oversee these funds, regardless of whether or not the other parent is living. In most cases, there are two general options:

Conservator: This is a court-appointed person who is responsible for any assets left outside of a trust or any income received by the child. The conservator can be the same person as the guardian, but it does not have to be the same.

Trustee: A best practice in estate planning for a child is to leave the property in trust to be distributed for specific purposes, like education, health care, and general support. Assets can be left in trust through a last will and testament or through a trust set up while the parent is living to benefit the child.

Estate planning is critical for a single parent. An estate planning attorney should be consulted to determine how best to structure planning when there is only one parent. This protects the child and gives the parent peace of mind. If you would like to learn more about planning as a single parent, please visit our previous posts.

Reference: The News-Enterprise (July 5, 2024) “Single parents must be deliberate in estate planning”

Image by Marcela

If you are Leaving Property Behind, Consider a Land Trust

July 22, 2024

Estate planning can be complex. However, understanding the available tools can make it easier to protect your assets and provide for your beneficiaries. If you are leaving property behind, consider a land trust.

A land trust is a legal agreement where one party (the trustee) holds the title to the property for the benefit of another party (the beneficiary). This setup can offer privacy, ease of transfer and protection from creditors.

Land trusts offer several benefits:

Privacy: The property owner’s name isn’t on public records.
Control: The beneficiary can direct how the property is managed.
Protection: It can shield assets from certain legal actions.

A land trust can name virtually anyone as a beneficiary, including individuals, businesses and even other trusts. This flexibility makes land trusts a valuable tool for personalized estate planning strategies. Almost any type of real estate can be placed in a land trust. The eligible real estate types include residential homes, commercial buildings, farmland and vacant land.

Creating a land trust involves several steps:

Consult an Attorney: Get professional advice to ensure that a land trust fits your needs.
Draft the Trust Agreement: Outline the terms, including who will be the trustee and beneficiaries.
Transfer the Property: Deed the property to the trustee.

When Mr. and Mrs. Wilson decided to buy a vacation home, they wanted to keep their ownership private and ensure that the property would easily pass to their children. They opted for a land trust. The trust kept their names off public records, providing the privacy they desired. When Mr. Wilson faced a personal lawsuit, the vacation home was protected because it was held in the trust. Their children, named as beneficiaries, will smoothly inherit the property since it will avoid probate.

If you value privacy and have property, a land trust might be right for you. It’s especially useful for those who own multiple properties or wish to keep their ownership details confidential.

A land trust could be the solution if you want to protect your privacy, shield your property from creditors, or ensure a smooth transfer to your beneficiaries. It offers flexibility and control, making it a valuable tool in estate planning.

Planning your estate involves making important decisions about your assets and beneficiaries. If you are leaving property to your loved ones, consider a land trust as a valuable tool to leverage. If you would like to learn more about different types of trusts, please visit our previous posts.

Reference: Investopedia (April11, 2024) “Land Trust: What It Is, How It Works, Types, and Examples”

Image by Henry Gartley

Sometimes, a Professional Trustee is a Good Idea

July 18, 2024

A couple in their 70s are trying to complete their estate plan but can’t determine who should be their trustee or executor. It’s a second marriage for both. They each have an adult child, but neither child can serve. There are no other living relatives, and all their friends are also in their 70s. Sometimes, a professional trustee is a good idea. A professional trustee or company can provide administrative services for the trust without the potential headache with family members.

The couple gets kudos for tackling this complex issue, according to the article “We’re in our 70s and don’t trust our family to handle our estate. What can we do?” from Market Watch. Most people give up at this point and then run into problems in the future, either because of incapacity or because the death of the first spouse leaves the surviving spouse in a difficult situation.

The first place to start is conversing with your estate planning attorney. They will likely know of a professional trustee or company providing “estate administration services.” It may be possible that they offer this service in their own office, too.

If this isn’t satisfactory, speak with a major financial institution, which will likely be insured and subject to state and federal regulations. They may handle your financial and personal information, such as distributing assets, closing down accounts, handling digital assets and filing income and estate tax returns.

Consider the window of time. You’ll want to be sure the person or bank will still be operating in ten to twenty years. You’ll also want to be sure they are a fiduciary. This means they are legally bound to put your interests above their own, which a court can enforce.

The fees will depend upon the size of your assets and the entity you choose. A large bank will usually charge a certain percentage of your assets. Some use a sliding scale, like 5% on the first $100,000 and a lower percentage as the asset level rises. A $1 million estate could cost around $30,000 to administer.

If a professional trustee is the same person who is administering your trusts, there will be additional fees. The assets in the trust will need to be managed, including investing, making distributions and paying taxes. Many professional trustees handle special needs trusts, where parents have left money for disabled adult children, and administer trusts for family members.

Sometimes, a professional trustee is a good idea, even when family members are available. Naming a professional, whether an institution or an individual, can alleviate concerns about family dynamics interfering with your wishes. If you would like to learn more about being an executor, or trustee, please visit our previous posts.

Reference: Market Watch (June 15, 2024) “We’re in our 70s and don’t trust our family to handle our estate. What can we do?”

Photo by Andrea Piacquadio

Should You Tell Beneficiaries Their Inheritance?

July 16, 2024

Should you tell beneficiaries their inheritance? It is a legitimate question for many families. If you’ve watched Netflix’s The Gentlemen or HBO’s Succession, you know how powerful the inheritance storyline can be. The mystery creates suspense, and the reveal invites drama. However, your estate plan shouldn’t take lessons from these plot lines, says an article from mondaq, “Communicating Your Estate Plan: A Helpful Tool, Not A Fix-All.”

Whether to reveal the details of your estate plan should be preceded by another question: will being upfront with heirs and beneficiaries before you die reduce the likelihood of family fights and litigation, or will it create the conflict you were hoping to avoid?

While it’s best to be able to share your wishes, whether or not to communicate anything about your estate plan is entirely up to you. No one should feel they must share this information. Your estate planning attorney is ethically required to keep your discussions and any details confidential, even after you have passed.

Any person can modify their estate plan at any time, as long as they are competent and living. You can make any changes you want, even if you’ve told your beneficiaries one thing and then decide to do another. This may have negative consequences. However, you are legally allowed to do it.

Communication can take any form and be vague or specific. You could disclose the existence of an estate plan and inform heirs that it was carefully created based on your wishes and the advice of an estate planning attorney and any other tax and wealth advisers.

Sometimes, knowing a plan has been made with professional help can allay concerns from heirs. You might communicate the general framework of the estate plan, letting heirs understand who has been named for roles like Power of Attorney, Health Care Power of Attorney, Successor Trustee and Executor. It may be helpful to explain why you’ve made these decisions to avoid the “Mom would have never wanted this” arguments.

Things don’t always go as planned, however. If explanations are not consistent among heirs, there will be conflict. Even if explanations are consistent, there will be conflict in some families, no matter how clear you are with everyone.

In some cases, having your estate planning attorney convey details of your choosing to family members might be helpful. Learning this information from someone outside the family can be less triggering, particularly when the family respects the attorney as a skilled professional.

Should you tell beneficiaries their inheritance? Unfortunately, there are some families where transparency won’t preclude conflict. In these situations, sharing any details may create battles you may not want to be a part of or subject you to attempts to influence your decisions. This is something that each person has to consider. A frank conversation with your estate planning attorney about handling these issues will help you decide if or how much information to share with your family. If you would like to learn more about inheritance planning, please visit our previous posts.

Reference: mondaq (June 18, 2024) “Communicating Your Estate Plan: A Helpful Tool, Not A Fix-All”

Photo by Gustavo Fring

Inheriting Foreign Assets is Complex

July 1, 2024

An inheritance is almost always a mixture of happiness and sadness. You’re grieving the loss of a loved one at the same time you’ve received a financial bequest. Inheriting foreign assets from someone who lives outside of the country or from a non-U.S. citizen makes matters complex, says this recent article, “U.S. Tax: 4 Tips For Americans Receiving A Foreign Inheritance,” from Forbes.

There are certain IRS reporting requirements to be aware of, in addition to knowing what taxes you’ll be responsible for. Here are four top issues.

If the deceased person was a former American citizen and met specific requirements as a “covered expatriate” or “CE,” anyone receiving an inheritance must pay the IRS 40% of the inheritance. An estate planning attorney with experience in CE inheritances can help avoid or minimize this admittedly high level of taxes.

Even if the inheritance is not taxable, it must be reported to the IRS by the American recipient. If it is found to have been unreported, a 25% penalty will be levied. Your estate planning attorney will know how to report the inheritance using IRS Form 3520.

Depending on the type of asset inherited, there may be other reporting obligations. The Foreign Account Tax Compliance Act (FATCA) requires IRS Form 8938 to be filed if the total value of foreign financial assets is more than a specific threshold. The annual thresholds are lower for citizens who live in the U.S. than for Americans living abroad.

The U.S. tax basis must be accurately valued and documented when inheriting a foreign asset. The basis of a foreign asset from a CE will be “stepped up” to its fair market value as of the decedent’s death date. However, there are many nuances to this, and in some situations, there is no step-up.

Inheriting foreign assets is complex and requires the guidance of an experienced estate planning attorney to avoid significant taxes and penalties. If you know you’ll be inheriting assets from a CE, speak with an estate planning attorney to figure out what to do before and after the inheritance. If you would like to learn more about inheriting assets, please visit our previous posts.

Reference: Forbes (June 3, 2024) “U.S. Tax: 4 Tips For Americans Receiving A Foreign Inheritance”

Photo by Pixabay

Creating a Trust to Avoid Probate Nightmares

June 25, 2024

Good estate planning ensures that your loved ones receive what you leave them without unnecessary delay or expense. However, that can go out the window when the procedure freezes your estate for months or years. Creating a trust to avoid probate nightmares can go a long way to help your loved ones once you pass.

Waiting months for probate can worsen the grief of losing a loved one. Look no further than the story of Penelope Ormerod, as told by The Guardian.

When Penelope Ormerod applied for probate on her late aunt’s estate, she expected a smooth process. Instead, she waited for seven months due to severe delays in the probate system. Recent reforms and centralization efforts had made the system more unresponsive and left her waiting. Beneficiaries, like her daughter Jessica, had dreams of funding their education on hold. This is one example of the turmoil that can ensue when your estate doesn’t avoid probate.

Trusts are powerful tools in estate planning that can prevent your family from going through similar probate ordeals. Setting up a trust means transferring your assets smoothly and quickly to your loved ones. While the traditional will process often requires probate, a trust operates outside this framework. In many cases, this saves time and reduces stress for your inheritors.

Trusts offer flexible, tailored methods for asset distribution. You can use a trust to give assets under various conditions or for specific purposes. You can establish trusts to provide your beneficiaries with lump sums or structured payouts. This ensures that beneficiaries like the Ormerod’s can avoid probate instead of waiting to receive their inheritance. Preventing delays in accessing an estate’s assets is particularly important for young families supporting minor children or ensuring that a family does not have to change their living arrangements due to court scrutiny of home ownership.

By avoiding probate, trusts can save your family stress, time and money. Probate fees and legal costs add up; setting up a trust can be a cost-effective way to pass on your assets. Trusts can also reduce tax liabilities and get more of your money to your loved ones.

Consider creating a trust so your family can receive their inheritance when you want them to, and avoid the nightmares of a probate. If you want to get started, contact an estate planning attorney. They’ll guide you through the options and help you ensure that your loved ones get what you leave them.

Key Takeaways:

Avoid Probate Delays: Trusts can bypass the lengthy and stressful probate process. As a result, your beneficiaries will receive assets sooner and without undue stress.

Flexible Distribution Options: Trusts provide various ways to distribute assets. Choose from lump sums, structured payouts and other options that best serve your loved ones.

Cost and Time Efficiency: Trustees can save on legal fees and court costs by avoiding probate through a trust. Trusts may also reduce tax liability for your beneficiaries.

Secure Your Legacy: Setting up a trust with the help of an estate planning attorney helps safeguard your wishes when you’re gone.

If you would like to learn more about probate, and how to avoid it, please visit our previous posts.

References: The Guardian (May 2, 2021) “Grieving relatives despair at months of waiting for probate”

SmartAsset (August 25, 2023) “How Does a Beneficiary Get Money From a Trust?”

Photo by RDNE Stock project

Should You have an Irrevocable Trust?

June 20, 2024

You may have heard the terms “revocable trusts” and “irrevocable trusts.” Both are created to hold assets for different purposes. Which is right for you? Should you have an irrevocable trust? The differences are explained in a recent article from Kiplinger, “With Irrevocable Trusts, It’s All About Who Has Control.”

Both types of trusts are separate legal entities created through contracts. They name a trustee who is in charge of the trust and its assets. The trustee is a fiduciary, having a legal obligation to manage the assets in the trust for the beneficiaries. Depending on how the trust is structured, these are the people who will receive assets or income generated by the assets in the trust.

With the revocable trust, the grantor—the person who creates the trust—can be a trustee and maintain total control of the trust. They can change the terms of the trust, beneficiaries, and successor trustees at any time. In exchange for this level of control, however, come some downsides. The revocable trust doesn’t have the same level of protection as an irrevocable trust while the grantor is living.

The irrevocable trust trades control for benefits. The grantor of an irrevocable trust can’t change the trust once it’s been created, nor can they move assets in and out of the trust at will. Beneficiaries may not be changed either. However, when the irrevocable trust is properly created with an experienced estate planning attorney, they achieve many estate and tax goals.

Your estate planning attorney will be able to explain which irrevocable trust suits your situation, as there are many different kinds.

An irrevocable trust where the grantor is also the beneficiary is referred to as a Domestic Asset Protection Trust or DAPT. The grantor is allowed to be the beneficiary of the trust, but it has to be created in one of the 20 jurisdictions where the grantor is allowed to be the beneficiary. You can have a trust created in a jurisdiction other than your own.

The first step is to determine how to fund an irrevocable trust, where assets are transferred into the trust. There are fine points here. For instance, you can’t fund an irrevocable trust if there are issues with the IRS or the threat of litigation from a creditor. If the dispute goes to court, a judge can set aside the transfers into the trust as they were made with the intent to circumvent a creditor’s claim under fraudulent transfer laws.

If a trust seems like the right planning structure for your assets, discuss with your estate planning attorney if you should have an irrevocable trust. Decisions about naming trustees, successor trustees, beneficiaries, and funding sources should be discussed with an experienced estate planning attorney first. Creating irrevocable trusts, like much of estate planning, needs to be completed before issues arise. If you would like to learn more about different types of trusts, please visit our previous posts.

Reference: Kiplinger (April 28, 2024) “With Irrevocable Trusts, It’s All About Who Has Control”

Photo by Antoni Shkraba

Diverse Family Structures Have Unique Estate Planning Challenges

June 10, 2024

American family law has traditionally focused on the nuclear family. However, Forbes reports that only 18% of American adults now fit this model. There are many new types of families today, such as blended families, single-parent households and LGBTQ+ families. Dated legal definitions of family could be a hurdle in your estate planning. Diverse family structures have unique estate planning challenges. However, it’s a hurdle you can overcome with knowledge and legal guidance.

Most legal protections and rights cater to the assumption that a family is a married couple with blood children. This alone creates obstacles for many families, even those that look traditional. Many heterosexual couples have children but haven’t yet married. This can deprive them of various rights and may exclude partners from inheritance.

Blended families with stepchildren also frequently struggle with inheritance. If the parents fail to lay out the rights of the children, it can go to a lengthy probate process. Likewise, the children of single parents face a uniquely uncertain future should their parents die unexpectedly. Another diverse family type that frequently struggles with family law is LGBTQ+ families. The rights of same-sex couples vary widely by state, which makes estate planning especially important for them.

These diverse families and more can find themselves underserved by laws that don’t have them in mind. However, that doesn’t mean that their wishes must go un-respected. There are many estate planning tools available that can help people clarify and execute their wishes once they’re gone.

Advanced estate planning techniques can give anyone greater control of their estate. Everyone with a significant estate or minor children should have an estate plan. However, diverse families need to use these tools to safeguard their wishes.

Wills: A well-drafted will is Step One. It makes it far easier to ensure that your assets go to your inheritors as you wish.
Trusts: Trusts offer greater control over asset distribution while avoiding will-related pitfalls. Living trusts can be adjusted during one’s lifetime, while irrevocable trusts protect assets but are permanent.
Powers of attorney: Financial and healthcare powers of attorney let a trusted person decide if the primary individual is incapacitated.
Testamentary guardianship: Single-parent, blended families and same-sex couples should appoint guardians for minor children in their wills.
Beneficiary Designations: Designate the beneficiaries for life insurance, retirement and investment accounts. This ensures that the executor of your will transfers assets according to your wishes.

The evolving definition of family challenges conventional estate planning. Unmarried couples, blended families and other non-traditional arrangements often need tailored estate plans. However, untangling estate law on your own isn’t easy.

Diverse family structures have unique estate planning challenges. Schedule a consultation with an estate planning attorney, who will address local laws and your unique family structure, to craft a comprehensive estate plan. If you would like to learn more about planning for blended families, please visit our previous posts.

Reference: Forbes (April 2, 2024) “How Expanding The Legal Definition Of Family Helps Us All”

Image by miltonhuallpa95

Understanding Your Options and Responsibilities when Inheriting a House

June 4, 2024

Understanding your options and responsibilities is critical when inheriting a house, whether you sell it, keep it, or rent it out. Insights from LendingTree show you how to make the most of your inheritance. Inheriting a house can be a life-changing event with emotional and financial implications.

When inheriting a house, you don’t immediately receive the title in your name. The inheritance process involves probate, where a judge reviews the will and appoints an executor to carry out the deceased’s will. The executor handles responsibilities like insurance, identifying debts or liens and paying utilities. They also distribute belongings and manage property taxes. This ensures that the estate’s assets settle any outstanding debts before you receive ownership.

When you’re in line to inherit a home, there are five steps you should take immediately.

Communicate with the Executor: Establish a clear line of communication with the executor. This will help you learn the necessary information and simplify the transfer process.
Coordinate with Co-Heirs: Work with the others if you are one of several heirs. Avoid costly disputes by deciding whether to sell, keep, or rent the property.
Get an Appraisal: An appraisal calculates the property’s value. This informs your decision to keep, sell, or rent the home while informing you of tax liabilities.
Evaluate Debts: Identify any liens or debts tied to the property and compare them against the house’s value. Understand the financial implications and incorporate that into your decision.
Seek Professional Advice: Consult estate planning attorneys, accountants and financial advisors. These professionals can clarify ownership-related problems, such as debt obligations and inheritance taxes.

Moving into the inherited house can provide a new residence or vacation home. However, this option can be costly due to mortgages, taxes, repairs and insurance. Renting out the property can provide passive income, while keeping it in the family. Buy out other heirs or work with them to share costs and rental income. Selling the house is a straightforward way to obtain immediate cash. The proceeds can help pay off debts tied to the house, and the remaining proceeds will go to the heirs.

If debts and taxes are associated with the house, that doesn’t mean you need to sell. There are many ways to finance the home and keep your inheritance.

Mortgage Assumption: Take over the existing mortgage if its terms are better than what you’d get with a new loan. The lender must approve the assumption.
New Purchase or Refinance Mortgage: You can obtain a new mortgage or refinance to put the house in your name. This option is particularly useful when the property has a reverse mortgage.Prop
Cash-Out Refinance: Refinance the mortgage with a cash-out option to tap into the home’s equity to cover expenses, like buying out heirs or making repairs.
Investment Property Loan: Mortgage an investment property if you plan to rent the house.

Key Takeaways:

Inheriting a House: The probate court oversees the inheritance process, and the executor handles legal and financial responsibilities.
Options: Move in, rent out, or sell the property based on financial goals and agreements with co-heirs.
Financing: Explore mortgage assumptions, new or refinanced mortgages and other financing options.

Understanding your options and responsibilities when inheriting a house requires legal, financial and practical knowledge. Consult with an experienced estate planning attorney as soon as you can. If you would like to learn more about inheriting property, please visit our previous posts.

Reference: LendingTree (Nov. 16, 2021) “Inheriting a House? Here’s What to Expect”

Photo by Curtis Adams

Category: Beneficiaries

Understanding Primary and Contingent Beneficiaries is essential for Estate Planning

Estate Planning is Critical for a Single Parent

If you are Leaving Property Behind, Consider a Land Trust

Sometimes, a Professional Trustee is a Good Idea

Should You Tell Beneficiaries Their Inheritance?

Inheriting Foreign Assets is Complex

Creating a Trust to Avoid Probate Nightmares

Should You have an Irrevocable Trust?

Diverse Family Structures Have Unique Estate Planning Challenges

Understanding Your Options and Responsibilities when Inheriting a House

Categories

View Blog Archives

Watch the

Estate Of The Union

Join Our

eNewsletter and Blog Digest List

Listen to the

Estate Of The Union

Texas Trust Law

Quick Links

Connect With Us