by Paige Fuoco | Oct 26, 2021 | Estate Planning, Power of Attorney, Trusts, Wills
Many people, especially seniors, see joint ownership as an easy way to avoid probate and plan for incapacity, but there are major drawbacks to joint accounts. When people own property as joint tenants each person has an equal ownership interest in the property. If one...
by Paige Fuoco | Oct 19, 2021 | Estate Planning, Power of Attorney, Trusts, Wills
A durable power of attorney (POA) allows the person creating the POA, called the “principal,” to name a trusted agent who can act on his behalf in almost any situation. But because of the risk of abuse, many banks will scrutinize a POA carefully before...
by Paige Fuoco | Sep 21, 2021 | Estate Planning, Power of Attorney, Probate, Trusts, Wills
Parents and other family members who want to pass on assets during their lifetimes may be tempted to gift the assets. Although setting up an irrevocable trust lacks the simplicity of giving a gift, it may be a better way to preserve assets for the future. A trust is...
by Paige Fuoco | Sep 16, 2021 | Estate Planning, Power of Attorney, Trusts, Wills
No one wants to see a loved one become unable to make decisions for him or herself. If this happens, however, the court may appoint a substitute decision maker, often called a “guardian,” but in some states called a “conservator” or other term....
by Paige Fuoco | Sep 16, 2021 | All Articles, Estate Planning, Family Law, Power of Attorney, Probate, Trusts, Wills
The Britney Spears guardianship case has brought national attention to the legal framework surrounding guardianships and the need for reforms to better protect individual rights. While a full guardianship may be necessary for many individuals who are incapable of...
by Paige Fuoco | Aug 31, 2021 | Estate Planning, Trusts
With the federal estate tax exemption possibly about to be lowered, it may be time to think about steps you can take to keep your estate from being taxed. An irrevocable life insurance trust allows you to pass on money to your heirs while avoiding both the federal...
