Key Takeaways: Sub-Trusts are empty legal structures created inside a Master Trust or Will that do not require a separate Tax ID number or asset funding until a specific triggering event occurs. Triggering events like the death or disability of a Trustor activate these structures, seamlessly splitting assets into targeted vehicles like a Marital Trust or Credit Shelter Trust. Utilizing a common pot Trust protects minor children […]
One of the biggest myths in Probate law is that the lack of a Will causes Probate. That’s not the case. The lack of a Will simply means that the Probate that is filed is “intestate”, which means that the State Law determines who the beneficiaries are. The next biggest myth is that the […]
Whether or not you did any estate planning during your marriage, if you get divorced there are myriad estate planning issues that you will be faced with. Once the divorce is final and a final decree is issued, it’s crucial to update your estate planning documents to reflect your new circumstances and ensure that your […]
One of the things that makes Probate so complicated is understanding what assets a deceased person owns that must go through Probate and what assets can be collected by just showing a Death Certificate. Generally speaking, any asset that has a “beneficiary designation” can be collected by simply showing a Death Certificate, no Probate needed. […]
