When you create a living trust, you usually need to choose who to name as your successor trustee. It is crucial that this decision is not taken lightly and that the right person is selected for the job. Role of Successor Trustee If you become incapacitated, your successor trustee will step into your shoes and take
In 2017, NBA team owner Gail Miller made headlines when she announced that she was effectively no longer the owner of the Utah Jazz or the Vivint Smart Home Arena. These assets, she said, were being placed into a family trust, therefore raising interest in an estate planning tool previously known only to the very wealthy–the
A dream without a plan is simply a wish. Estate planning is not just about death and taxes -- it puts you in the driver’s seat of your financial life, allowing you to set achievable goals. It is a great opportunity to focus on the legacy you want to leave behind for loved ones, help you
When considering how to leave assets to adult children, the first step is to decide how much each one should receive. Most parents want to treat their children fairly, but this doesn't necessarily mean they should receive equal shares of your estate. For example, it may be desirable to give more to a child who is
Most parents want to make sure their children are provided for in the event something happens to them while the children are still minors. Grandparents, aunts, uncles, and good friends sometimes want to leave gifts to beloved young children too. Unfortunately, good intentions and poor planning often have unintended results. Don’t make these common, expensive mistakes.
Talk to your kids about money Our clients at Kaiser Law Group have achieved their success in a variety of different ways coming from varied backgrounds. Some of our clients scratched and clawed their way to success from humble beginnings, while others got a leg up from their parents and used those building blocks
Today, I just set up my wife Kristie as my “legacy contact” on Facebook. That means that if I were to pass away, she would have authority to manage my Facebook page. This article from Slate.com describes some of the additional details and considerations. At first glance, it might seem like managing a social media page
Kaiser Law Group has a sub-specialty in working with blended families. Our clients in second marriages who bring children from previous relationships are seeking to strike a delicate balance between taking care of their spouse and making sure that their children are protected. Accomplishing this balance requires a great deal of trust, open communication and flexibility.
This NY Times article from late November focuses on a film, “Black Heirlooms” that describes a family dispute over a relatively modest amount of money that ended up tearing the filmmaker’s family apart. Besides the strained family relationships, the article mentions that “money goes to lawyers that could have gone to heirs.” That sentence resonated with
This NY Times article - about estate planners who focus on a more holistic approach to planning than those who laser in almost exclusively on tax strategies and savings – really resonated with me. I often describe my sweet spot as working with “Millionaire Next Door”-type families and helping provide a bridge between legal issues and