Recent Articles
Proper Handling of Bank Accounts
The bank account is used by many people to deposit funds they receive from an employer or other income source and to disburse those funds for goods and services, primarily by means of checks and ATM transactions. While bank accounts are very handy vehicles for handling money, they should be used with caution for… Read More »
Problems Created by the “Right of Survivorship”
In my practice I am confronted on a regular basis by a common problem – the use of joint tenancy deeds to create joint interests in real estate without a full understanding of the impact of joint tenancy. Joint tenancy, by legal definition, carries with it the right of survivorship so that only the… Read More »
The Pitfalls of Joint Tenancy as an Estate Planning Tool Pt. II
In the past I received a telephone call that points out the negative consequences of adding someone else’s name to your property as an estate planning tool. The elderly caller asked me what she could do to get $20,000 back from her daughter who had taken the money from her (the mother’s) bank account… Read More »
The Pitfalls of Joint Tenancy as an Estate Planning Tool Pt. I
Under the law, real property held in a form of title called “joint tenancy” avoids the court probate system when one of the joint tenants passes away. I have heard of many people who try to simplify their estate planning and avoid court probate charges by simply having a new deed drawn up to… Read More »
Reducing Estate Taxes Through a Living Trust
In this article I would like to discuss another way estate planning can help you save money. By proper planning, you can reduce or eliminate estate taxes (sometimes referred to as inheritance taxes). Yes, there are taxes on the wealth you transfer to your heirs! You might think it is unfair that you are… Read More »
Avoiding Probate Through a Living Trust
Estate planning may be defined as the continual process of arranging your personal and financial affairs in order to maximize your enjoyment and your heirs’ enjoyment of your assets. Though estate planning is a broad subject with many benefits, in this article I will discuss only one of the primary benefits of estate planning…. Read More »
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