It’s sad but true that many pets end up in shelters after their owner dies or becomes incapacitated. In fact, the Humane Society estimates that between 100,00 to 500,000 pets are placed in shelters each year for exactly this reason, and a large number of these animals are ultimately euthanized. In light of this cold reality, I’ll detail how you can use estate planning to ensure your pets receive the best possible care when you’re no longer able to care for them yourself.
Read MoreThis article offers a brief overview of what serving as a trustee typically entails. If you are asked to serve as trustee, feel free to contact me to support you in evaluating whether you can effectively carry out all the duties or if you should politely decline.
Read MoreIt feels like a lifetime ago that I reported how the deaths of NBA legend Kobe Bryant (Kobe) and his 13-year-old daughter, Gianna, in a helicopter crash demonstrated the vital need for estate planning for people of all ages. Since then, court filings made by Kobe’s widow have shed light on both the successes and failures of Kobe’s estate planning efforts.
Read MoreWhen Eric left water running unattended, the resulting flood caused over $400,000 in damage. Any inheritance he might have received before this accident could have been taken from him to pay for that damage. However, if Eric had received an inheritance in a Lifetime Asset Protection Trust, instead of an outright distribution, his inheritance would be completely protected from such a lawsuit—and just about any other threat imaginable.
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