Trust Planning

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Modifying or Terminating a Trust
You can modify or end some types of trusts anytime, but other types may never be changed. ... Read more

A Special Needs Trust Can Help You Qualify for Other Benefits
Government programs such as Medicaid and Social Security help low-income disabled persons access essential medical and caregiver services. Ownership of even modest amounts of property or income can disqualify you from such programs. To address this problem, you can set up a special trust to preserve ... Read more

Charitable Trusts Are Generally Irrevocable
If you want your estate plan to include some of your favorite charities, there are generally two types of charitable trusts to consider. Each type of charitable trust has unique characteristics and, depending on which one you choose, you may even see some immediate tax savings. Most Charitable Trusts ... Read more

Managing Trust Taxes
Depending on how trust documents are drafted, trust income can be taxable to beneficiaries, to you, to the trust, or to a combination of all three. Maybe you want to pay the tax so your beneficiaries don't have to. Maybe you prefer that the trust pay them separately. When creating your trust, you have ... Read more

When Is a Revocable Trust a Good Idea?
One type of trust that is commonly used by estate planning lawyers is the revocable living trust, which allows you to retain control over your personal assets. However, revocable living trusts aren't for everyone. In some cases, the disadvantages can outweigh the benefits. A Revocable Living Trust Gives ... Read more

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Trusts And Estates Questions

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It can be unders certain circumstances, but generally it is not necessary.  In many states a revocable trust makes sense to avoid probate.  In New Jersey there is no reason to avoid probate ...Read more

One possibility is that the CD matured and was rolled over or cashed out years ago, and that it isn't any good anymore. That would be highly likely in the case of one from 1983. If you haven't alread ...Read more

You can fill out an IRS Form I-9 and then he can issue an IRS Form 1099-MISC at the end of the year.

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Risk of Loss When a Residential Property is Under Contract for Sale

When a residential property is under contract for sale, what happens if the home is damaged or destroyed before the close of escrow? The default rule is that the seller bears the risk of loss unti ... Read more

What is a Revocable Trust?

The Florida Bar states: "A revocable trust is a document (the “trust agreement”) created by you to manage your assets during your lifetime and distribute the remaining assets after yo ... Read more

Tools for Estate Planning with Minor Children

1. Nomination of Guardianship. Proper estate planning should include a clear directive nominating a successor guardian to essentially step into the parenting shoes left empty by the ... Read more

Who Will INherit Prince's Estate?

The importance on having estate planning is once again highlighted in the news after the passing of Prince last week.http://www.jaxlawteam.com/estate-planning-law-services/ The following article discu ... Read more

Estate Planning: One Size Doesn't Fit All - Part I

With the increase of software packages and online companies that provide forms to complete your estate planning many people think their wills or trusts should be “one size fits all.” Unfor ... Read more

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