Category - Estate Planning Myth

Utah Law Can Prevent Trust Litigation

March 6, 2018

One of the main reasons people choose to use a trust for their estate planning is the desire to avoid probate (i.e., court proceedings) and thereby preserve privacy.  In the normal course, there is nothing that prevents trust litigation.  Happily, Utah has a law designed to do just that. Let’s first review the fact that […]

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Certificate of Trust and the difference between what a bank may request and what it actually needs

March 3, 2018

Just because a bank requests information, that does not necessarily mean the bank is entitled to receive such information.  By way of introduction, I spent several years working directly for some of the world’s largest banks while I was employed at a large firm in downtown Chicago.  Since then, I have continued to interact with […]

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Estate planning mistakes can be expensive to fix.

February 26, 2018

… — that is, when they can be fixed at all. This is the introduction to an article that I saw online today from Liz Weston, titled “Should you do your estate plan?”  I agree with the premise of the article.  Sadly, it is all too often the case that estate planning mistakes made by […]

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What is a living trust and why should you care?

February 16, 2018

This is a common question dealt with nicely by a Huffington Post article by Carrie Schwab-Pomerantz, CFP. Among the items covered by this helpful online article are the following: basic estate planning starts with a Will, which covers the appointing of a guardian for minor children and provides a very basic framework for asset distribution upon […]

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Estate planning mistakes to avoid (U.S. News article)

January 3, 2018

It is always better to learn from the mistakes of others than to make the same mistakes yourself. This is certainly true when it comes to estate planning–wise folks will learn from and avoid very common mistakes made by far too many individuals. Often, these are tragic and very costly mistakes. A few months ago, […]

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Do I need an estate plan?

December 21, 2017

Yes. If you have anyone or anything you care about, you need an estate plan. Perhaps a more helpful question, then, is what type of estate plan do you need, and why? There is a good article on Fidelity.com dealing with this very subject and many of the same considerations I would advise my clients […]

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Estate tax to stay or go? Who cares?

December 13, 2017

As of this morning, the word out of Washington is that the Republicans in the House and the Senate have agreed on a deal for tax reform. We should know more details in the coming days. The fate of the estate tax is still among the unknown points, but many believe that the estate tax

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Secrets of “THE LAW”

July 21, 2017

If you meet an attorney claiming to know THE LAW, find a different attorney. There are many misconceptions in the world of lawyers and law stuff. A great many. One of the most prominent is the mistaken belief that just because someone has a law degree and has passed a bar exam that person knows “THE […]

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Should you update your trust?

February 14, 2017

If you already have a trust, you should be commended for your wise planning. However, as time passes and laws change, it makes sense to review and update your trust to ensure that it remains consistent with your goals. I spend a significant amount of my time each week reviewing legal documents drafted by other attorneys (and sometimes […]

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Single Member LLC–what, why and when?

December 30, 2016

What is a single member LLC and why would you want one? We have previously written a fair amount on LLCs generally, including what they are and why they can be useful legal entities. This post will focus on single member limited liability companies. As the name indicates, a single member LLC has one owner–and […]

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