Blog

Testamentary capacity refers to a person’s ability to understand and execute a will. As a general rule, most people who are over the age of eighteen are thought to be competent to make and sign the will. They must be able to...

An executor is responsible for the administration of an estate. The executor’s signature carries the same weight of the person whose estate is being administered. He or she must pay the deceased’s debts and then distribute the remaining assets of the estate....

If you’re involved in settling a loved one’s estate, you may come across the term: Lapsed Legacy. This describes what happens when something designated in a will no longer exists. Say, for example, your uncle dies and leaves for you in his will...

While the golden years are supposed to be filled with the joys of retirement, grandchildren and travel, they are seldomly enjoyed without various other complexities that individuals encounter as they age including deteriorating health, financial concerns and family disputes.  To meet these challenges, a unique area of law - elder law has taken on...

Life insurance can be an integral part of an estate plan. Policies can be set up to be paid directly to the beneficiary, without the need to pass through the estate, and without the need for any taxes to be paid. Having...

Avoiding Common Mistakes in Estate Planning

Estate planning is designed to fulfill the wishes of a person after his or her death. Problems can easily arise, however, if the estate plan contains unanswered questions that can no longer be resolved after the person's...

There are many factors to consider when deciding whether or not to implement Medicaid planning.  If you’re in good health, now would be the prime time to do this planning. The main reason is that any Medicaid planning may entail using an...

Healthcare directives can be vitally important, as recent cases, like that of Terry Schiavo, clearly brought to light. These important documents can mean the difference between your health care wishes being carried out or family members fighting over whether...

A tax basis is essentially the purchase price of a piece of property. Whenever that property is sold, the seller must pay taxes on the difference between the sale price and the original purchase price. This concept applies to all property, including...

So often, attorneys use words and phrases that to us we know exactly what the meaning is; yet we sometimes forget to explain to the client the exact meaning. Here is a glossary of some of the words used in estate planning.

Will - a written...