Blog

Undue influence is a significant concern in both contract law and estate planning. It involves coercing or manipulating individuals into making decisions that may not align with their best interests. Unfortunately, the elderly are particularly vulnerable to acts of undue influence, especially in estate planning matters.

Understanding estate law concepts can feel like trying to learn a new language, all while striving to make the best decisions for your loved ones' future. Let's shine a light on one crucial aspect of estate planning: testamentary capacity.

Executors of the estate and those designated to inherit the decedent’s assets—called beneficiaries—have a very important relationship. The executor has a legal duty to administer the decedent’s estate and act in the best interests of the beneficiaries.

The death of a loved one can unleash a cascade of anguish and grief. The time following a loved one’s death can be fraught with uncertainty and questions as the family is trying to figure out what to do with everything the deceased person left behind.

Those of us who have had the misfortune of receiving an inheritance from a loved one know how this can bring up many feelings. You can find yourself coping with the loss of someone close to us and would rather have them back than any amount of money they left.

Today, many individuals suffer from drug abuse or addiction issues. Unfortunately, these individuals can go to any length to satisfy their substance abuse cravings, including spending all their savings or selling off assets. As a result, parents who have children with substance abuse issues must devise a plan to protect the property, money, assets, and other inheritance available to their children. Thankfully, this can be accomplished by setting up a spendthrift trust and naming a reliable person to hold the trust property on the beneficiary’s behalf.

When you’re faced with the task of being the executor of a loved one’s estate, you’ll likely be forced to grapple with several issues and questions you’re unprepared for. Specifically, many executors want to know what happens to the debts of someone when they pass away and whether they’ll be responsible for paying them. This is a complex question to address, and any time you’re administering the estate of someone else, you should consult with a probate attorney to ensure you’re doing everything correctly.

Creating a will allows you to provide certain instructions about how your estate and assets should be handled, distributed to inheritors, or disposed of following your death. However, several life changes may occur to you, your family, your finances, and assets after drafting your will. Such changes may include divorce, a new relationship, the arrival of a new baby, job loss, acquiring more assets, or retirement. As a result, you need to review and update your will.

Creating a well-detailed plan is imperative to provide specific instructions regarding how you want your estate and final affairs settled after you’re gone. However, different issues often arise when a parent who has dementia or cognitive impairment wants to create an estate plan.

Estate planning allows you to set forth specific instructions in advance concerning how your property, assets, and investments should be managed, disposed of, or distributed when you’re no more. However, when in a second marriage, there are several considerations you need to put in mind when drafting your estate plan.