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Why New Parents should have an Estate Plan

While you prepare the nursery, make day care arrangements, and buy new baby clothes, your estate plan may be the last thing on the list of things to do before your newborn bundle of joy is born. This may be because you do not fully understand the breadth of protection an estate plan offers your family. This article seeks to address the key aspects of an estate plan for new parents, which include: Designating a guardian for your child; Setting up a trust; Drafting up a Last Will and Testament that restates the guardian appointed; Designating beneficiaries of your estate; Electing an agent to serve as your power of attorney for financial matters; Electing a health care surrogate as your agen

What Property Goes Through Probate, Anyways?

A lot of clients have come to me recently with concerns about the costly and time-consuming headache that probate may create for their family. Many seek to draft revocable trusts to transfer their property at death to their family fairly and proportionately. A revocable living trust allows you to direct who manages your property and benefits from your property after your death. Basically, whatever property is held in the name of the revocable living trust passes without the probate court’s statutorily required supervision. However, some property by its very nature passes outside of probate, that property is categorized as a “non-probate” asset. In general, there are 6 types of non-probate

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