You love your children and want to ensure that they are always taken care of. The desire to provide for them may also be shared by their grandparents, aunts, and uncles. However, when leaving money and property to minor children, even the best intentions can lead to big problems. Common mistakes can cause chaos for […]
Avoid These Common and Expensive Mistakes: How to Leave Assets to Minor Children Read More »
It is a topic no parent wants to think about: What would happen to your children if you were gone? However, facing this question is one of the most loving and powerful things you can do for your kids. If you take no steps to legally nominate a guardian for your minor children, a judge
Do It Now: Name a Guardian for Your Minor Children Read More »
Planning for the future of your home can be complicated, especially when you want to ensure that a loved one can continue living there after you are gone. Two common tools for accomplishing this are life estates and right of occupancy trusts. A life estate grants someone the legal right to live in a home
Life Estate versus Right of Occupancy Trust: Which Is Right for You? Read More »
Many people believe that once they set up a revocable living trust and change the ownership of their accounts and property from themselves as individuals to their trust, those accounts and property are protected from lawsuits. This is not true. While trusts commonly protect a beneficiary’s inheritance, few trusts protect assets (accounts and property) previously
The Trust Protection Myth: Your Revocable Trust Protects Against Lawsuits Read More »
Getting married is a special time in your life; you may have a beautiful wedding, a fun reception (with a delicious cake and special gifts), and a romantic honeymoon. It is also the right time for you and your new spouse to plan for your future—for richer or for poorer, in sickness and in health.
Estate Planning Basics for Newlyweds: How to Prepare for the Unexpected Read More »
Fewer people are creating estate plans today than in years past. Research shows that, in 2024, less than one-third of Americans report having a will. Every adult—whether they are 19 or 99—should have a will at a minimum. Many people can also benefit from estate planning documents such as trusts, powers of attorney, and advance
Don’t Let Your Estate Plan Go Up in Smoke Read More »
Stereotypes surrounding “only child syndrome” have largely been debunked, as recent studies show that only children, on average, develop social skills similar to those of children with siblings. Further, outdated perceptions surrounding only children have shifted as the average size of the American family has shrunk, and one-child families have become far more common. Raising
How Do I Create an Estate Plan with an Only Child? Read More »
What is a Durable Power of Attorney? At Barreau Legal, PLLC, it is common to run into clients who believe that estate planning only deals with how to pass property along to the next generation after someone’s death. This would be an accurate definition of estate planning and the goals which can be accomplished through
The Power of Attorney Read More »
When dealing with loved ones with special needs, it is important to understand the relationship which exists concerning someone with special needs and his or her approved government benefits. Namely, did you know that your loved one could potentially lose their government benefits related to their special needs if they inherit directly from you? Did
Special Needs Trust Read More »
Do you know the requirements to qualify for Medicaid? Medicaid is an important tool to help provide long-term care for those who cannot afford it. The costs of being in a nursing home can almost be insurmountable, sometimes reaching approximately $6,000 a month depending on your facility and geographical region. For the majorly wealthy, perhaps
Qualifying for Medicaid Read More »
