Wills, Trusts, & Estate Planning

LGBT couples and families face unique challenges in the probate process.In the LGBT community, the concept of a “chosen family” is prominent.[1] This is because members of the LGBT community are often estranged from their blood relatives and are less likely to have children than the general population.[2] This presents a problem, however, as family members by choice are given less deference by the law than family members by blood.[3]Members of the LGBT community are not unaware of this, and studies indicate that they take greater care in planning their estates.[4] This use ...

What is Capacity?Capacity is the ability of someone to make rational decisions, and thus be accountable for their actions. Individuals with capacity are people with the power to make important life decisions in the eyes of the law; those with capacity are legally recognized as autonomous or semi-autonomous individuals.The question of capacity is rooted in state of mind. As legal concepts, the standards for capacity are designed to protect those who are legally vulnerable as a result of some kind of mental infirmity. This infirmity could be temporary, such as alcohol intoxic...

A will (also called your last will and testament) is a legal document that allows you to state what should happen with your assets after you die.  It is important to remember that a will is a must for every estate plan, but it should always be used with other estate planning tools such as trusts.Your Will should specify who gets what, where they get it from (e.g., personal estate), and include any special notes, You must sign it in front of 2 witnesses, and a notary public, an attorney who drafts your will or estate plan, will be able to provide two witnesses and a notary a...

A power of attorney is a legal document that names an agent to act on your behalf. This person, known as an “attorney-in-fact” or power of attorney, can be authorized to work in many different situations and act for one time or all the time. For example, you may give power of attorney to someone, so they can sign your name to a check when you are out of town.What Types of Power of Attorneys Exist?There are four different types of power of attorney. You can choose anyone you want to be your power of attorney, even yourself. The power of attorney you choose will depend on you...

Key Takeaways:A will allocates how your estate should be distributed upon your death, while a trust is an arrangement giving a trustee the right to manage your estate once set upWith a trust, the owner of the assets (trustor) may continue holding and managing the assets but appoint a successor trustee to take over after their incapacitation or deathA will must go through a court approval before execution, a process that compromises its privacyA trust can be executed immediately the right of management passes to the trustee, without the public exposure of a court processMaki...

Key TakeawaysA will is a document that highlights your wishes regarding the distribution of your properties.If you die without a will, the court will determine the distribution of your properties.The best way to prepare a will is through the help of an attorney.A lawyer ensures that you draft a valid and legally binding will.What Is a Will?A will is a legal document that gives direction regarding the distribution of your property upon death. It protects your wishes and hands down your real estate, personal property, and cash to people or organizations that you want.Creating...

When you sit down with an attorney to go through the fundamentals of the estate planning process, one of the questions you will almost certainly be faced with is this: who would you like to designate as your power of attorney. You may be unfamiliar with this legal document and wondering, “What the heck is a power of attorney, anyway?”Many people have questions about choosing a power of attorney and what it means, what it entails, and who you could or should designate. To help you start thinking ahead, we have answered some of the most frequently asked questions about power ...

Key Takeaways:Survivorship life insurance offers greater death benefits at lower costs than typical life insurance because the benefits are not paid until two or more policyholders have died.Because survivorship life insurance lists someone other than the decedent’s estate as a beneficiary, this type of insurance does not need to be distributed by a court through a probate process.Survivorship life insurance may not be right for those who will need the death benefits in the immediate term in order to pay off expenses after the death of their spouseIs survivorship life insur...

According to the dictionary, the definition of the word trust is a “firm belief in the reliability, truth, ability, or strength of someone or something.” When it comes to legal matters, it takes on a whole other meaning. However, you’ll still want significant “trust” built into a revocable living trust. That’s why you should secure the assistance of an experienced attorney and why you’ll want to carefully choose trustees who always have your best interest at heart.Keep reading to learn more about this important legal process and how it can benefit you and your estate.What i...

Taking the time to learn about estate planning is one of the kindest gifts you can give to family and other loved ones. While no one wants to think about their own mortality, most people find great comfort and peace of mind once their affairs are in order. This is one task that you shouldn’t put off any longer, and you might be surprised by how comfortable the team at Easler Law makes the process. Keep reading to understand the value of thinking ahead!What is estate planning?You have an estate – really! It consists of everything you own: property, bank accounts, cars and/or...

When it comes to the estate planning process, one document gets the lion’s share of the limelight: the last will and testament. Often the catalyst for drama in books, films, and soap operas, this legal record is actually a must-have in the real world.While many people have a tendency to put this task off, the professionals at Easler Law advocate for a more proactive approach to your end-of-life planning. Have you prepared your will yet, or do you keep saying ‘someday’? Are you wondering what a will actually entails and how to go about drafting one? Keep reading to learn mor...

Some people are planners by nature. They have their will and power of attorney drawn up before their first child is even born, and they pre-purchase burial plots long before retirement. If your parents are the planning sort, having “the talk” will probably be more of a show and tell. You’ll learn where and how to access those precious documents if something should happen to them, where the bank accounts and insurance policies are held, and what they would want to have included in their obituary. Consider yourself lucky!If, however, that all sounds grim and uncomfortable to ...