An estate plan represents a snapshot of someone’s current life. Though we draft our estate documents to be amenable to life changes, one should still review his estate plan every year or so to see if the documents reflect his or her wishes. At our firm, the wills we draft are general, and more often…
When a person dies and leaves a Will, a legal proceeding called “Probate” is required to transfer ownership from the person who died (Decedent) to the people named in the Will (Devisees). There are two main proceedings for Probate of a will. Below are a few differences. Informal vs. Formal Probate of a Will FORMAL…
Wills offer a number of benefits for protecting one’s interests after his or her passing. In addition to appointing a personal representative, assigning custody/guardianship for minor children, setting up testamentary trusts, and more, one of the most important benefits is deciding the distribution of assets upon one’s death. Whether you’re in a life-long relationship or…
We live in a time when advances in medical care have greatly enhanced the life expectancy of the average American. As more and more of us live into our eighties and beyond, the likelihood that we will need the assistance of someone to help us with our healthcare and financial decisions increases dramatically. Too often…
Many people contact our law firm to ask our opinion as to whether they need to have a Trust? They may have friends or family members that have established a Trust or they may have received an advertisement from a financial planner or attorney warning them that if they do not establish a Trust they…
As 2010 draws to a close, there remains a gray cloud of uncertainty over what will happen to the Federal Estate & Gift Tax, often referred to as the “Death Tax”. This tax is the tax imposed by the federal government upon your “estate” when you leave this planet for your heavenly pursuits, i.e., you…
Everyone understands the need and benefit of having a Will. A Will ensures that, upon your death, your estate is distributed to the beneficiaries you choose in accordance with your wishes. You name the person that you want to be responsible for making that distribution. Even more important for young parents, you name the Guardian…
During this time of heightened concerns over COVID-19, The Carroll Law Firm, PLC is open and can provide telephonic appointments for many types of consultations.