For the Love of Your Family

Articles to LIFT Your Family

I want my child to own my house when I die. Should I just transfer it now?

Q: I want my child to own my house when I die. Should I just transfer it now? – Pondering Parent A: Dear, Pondering: One thing to consider when transferring ownership of your home is the potential tax liability for your child. You may have owned your house for a long time, and its value […]

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Could I face eviction due to an out of date Will?

Q: Could I face eviction due to an out of date Will? -Renting Beneficiary A: Dear, Renting: It’s critical that you understand exactly what will happen after you become incapacitated or when you die, to ensure that the people you love don’t end up cleaning up an estate planning nightmare while also grieving your passing.  […]

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Under what circumstances can my will be contested?

Q: Under what circumstances can my will be contested? -Will Creator A: Dear Will: Anyone can contest a will for any reason, but that doesn’t mean they’ll be successful. If you think there is a chance that someone may contest your will, it’s critically important for the people you want to leave your assets to […]

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How often should I update my estate plan?

Q: How often should I update my estate plan? -Prudent planner A: Dear Prudent: This question highlights a frequent mistake we see clients make with planning. Even if you put an effective plan in place, it can prove completely worthless if it’s not regularly updated. In fact, failing to update your plan can create its […]

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Do I need additional life insurance if I have a policy through my employer?

Q: Do I need additional life insurance if I already have a policy through my employer? -Insurance Enquiry A: Dear Enquiry: Group policies offered by employers provide an easy and affordable way to obtain life insurance—but they often aren’t enough on their own. While the amount of coverage you need is dependent upon your particular […]

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Can I use estate planning to provide for my pet’s care after my death?

Q: Can I use estate planning to provide for my pet’s care after my death? -Dog Lover A: Dear Lover: Yes, you most certainly can use estate planning to make sure your pets are taken care of when you die or in the event of your incapacity. And the best way to do so is […]

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What does an executor do?

Q: What does an executor do? -Will writer A: Dear Will:  An executor is the person named in your will to administer your estate upon your death. The executor’s primary responsibility is to carry out the wishes spelled out in your will, ensuring that your assets are distributed to the intended beneficiaries.  An executor’s duties […]

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What does “funding” a trust mean?

Q: What does “funding” a trust mean? -Curious planner A: Dear Curious: For a living trust to function properly, it’s not enough to simply list the assets you want the trust to cover. When you create your trust, you must also transfer the legal title of certain assets—real estate, bank accounts, securities—you want covered from […]

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If I die with no estate plan at all, what happens to my property?

Q: If I die with no estate plan at all, what happens to my property? -No Plan Stan A: Dear Stan: If you die without an estate plan, your assets pass to your surviving family members according to your state’s intestate succession laws. Laws vary by state and depend largely on whether you were married […]

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Can I change my estate plan while my divorce is still ongoing?

Q: Can I change my estate plan while my divorce is still ongoing? -Speculative spouse A: Dear Speculative: Updating your estate plan for divorce is essential, but once the divorce is filed with the court, your ability to amend your plan is limited by state law. This is why you should update your plan as […]

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Are non-biological parents in same-gender marriage granted parental rights?

Q: Are non-biological parents in a same-gender marriage automatically granted legal parental rights? -Pondering Parent A: Dear Pondering: While same-gender marriage is now legal nationwide, the Supreme Court has yet to rule on the parental rights of a non-biological spouse/parent in a same-gender marriage. This means your parental rights are still governed by state laws, […]

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