When you think of estate planning, you might imagine making your will or setting up funeral arrangements. That’s not actually all your estate plan can do, though. In fact, your estate plan is a great way to plan for incapacity, not just death. There are any number of...
Month: August 2020
Consider possible changes when writing an incentive trust
Incentive trusts can be a good way to get your heirs to live in a manner you would approve of. They hinge on the idea that the person has to hit certain goals to get the yearly payouts from the trust; that’s their incentive. For instance, an incentive trust could...
Know when you need to review your estate plan
Many people make the mistake of letting their estate plan sit after creating it. If they’re lucky, its provisions will remain intact until their passing. But this scenario is the exception, rather than the norm. Life happens, and as yours changes, you will want your...
Misconceptions about estate planning
You are sitting in the bar one evening when a friend mentions he has been making his estate plan. You look at him, amazed. “You’ve been what?” you say, “Why would you bother doing that? You sound like my grandad.” Many people mistakenly believe estate planning is not...
How to dissolve your company
Have you ever wondered what the point of going to work is? All that effort you put into your business, all that time and money, for what? Have you ever dreamed of saying, “I quit,” and walking out for good? Unfortunately, if you are a business owner, you do not have...
Undue influence in estate planning
Your dad’s will is announced, and he has left what you assumed would be yours to someone else. There are several grounds on which you can challenge a will. One of these is undue influence, defined as “virtually any act of persuasion that overcomes the free will and...