The beginning of a new year is the perfect time to revisit your estate plan—or create one if you haven’t yet. Estate planning ensures your wishes are honored, provides peace of mind for your loved ones, and can save time,…
Kelly is 24 years old. He is on the autism spectrum and is receiving SSI. He is doing his best to be independent, but the monthly stipend is limited and it is difficult to live on his own with minimal…
Proper planning for a loved one with special needs is critical. Deanna M. Eble, Esq. will share information on creating a plan, implementing the plan, explaining public benefits, the use of special needs trusts, and decision making. We will also…
Funding your Trust is critical to having a successful outcome to your estate plan. Goals of a Trust When an individual implements their estate plan, they usually have one or more goals they are looking to accomplish. For example, a…
Kelly is 24 years old. She is on the autism spectrum and is receiving SSI. She is doing her best to be independent, but the monthly stipend is limited and it is difficult to live on her own with minimal…
Recently I received a call from a long-time client in a complete panic. She had been talking to her friend about the planning that they each implemented and the friend insisted that the client established the wrong trust for her…
Often times when clients make an appointment with our law firm, they have a very specific estate planning concern or issue. They may have a particular focus in mind, such as updating a will or avoiding probate. With a plethora of details to consider, it is often challenging for individuals to adequately address all aspects of their personal “big picture”, i.e. their complete estate.
Why should you contact the charity that you are planning to name as beneficiary?
People often wish to leave money to charities. This blog contains real-world scenarios in which individuals leave assets to charities:
Example #1: Tom has no children and no living relatives. His net worth is about 10 million dollars. Realizing his estate would be taxable, he wanted to strategically make a bequest to his alma mater, the church that he attends, and a hospital that he credits with saving his life.
He contacted his alma mater to inform them of his intentions. He signed a letter of intent specifying the dollar amount of the gift he intended to leave. As a result, the college named an endowment after him, with the funds to be used to create a scholarship.
He spoke with the pastor at his church about his intentions, and he was able to hear about the good work that the church will be able to do as a result of his gift.
A question clients often ask is, “What happens to my assets when I die?” The answer to that popular question depends on what you do while you are alive. When you die, your assets are essentially bulked into two general…
In a recent case, a New York trial court has ordered BNY Mellon to pay back a Special Needs Trust nearly $180,000 for its failure to ensure that the trust’s beneficiary qualified for public benefits. In Liranzo v. LI Jewish…