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6 questions to ask when drafting an employment incentive trust

Incentive trusts are used to give heirs goals and to make sure they don't just live off of a large inheritance without doing anything for the rest of their lives. The wealthy often worry that their children won't be productive after they pass away, so they use trusts that only pass on their assets when certain goals are met.

Conflicts arise when loved ones disagree on estate plans

The death of a loved one can take a considerable toll on any friend or family member; this is especially true if the death is unexpected. Under these circumstances, people can be consumed by grief, anger and confusion. Unfortunately, this is the state in which people find themselves when they are confronted with estate planning issues.

Don't disregard your digital assets

When you create your will or establish a trust, one of your top priorities is likely to keep loved ones from having to deal with ugly legal battles and personal disputes in the wake of your passing. Having a comprehensive estate plan can go a long way in doing this, though it can be easy to overlook certain details. These oversights can unfortunately cause the very problems you hoped to avoid.

What is a no-contest clause, and do I need one?

One of the primary goals people have when creating an estate plan is to keep things as peaceful as possible for the people left behind. Having a will or trust in place is certainly an effective way to achieve this. However, complications and disputes can arise despite your best efforts.

What is a breach of fiduciary duty?

Assigning financial decision-making powers to someone else is an important element in any comprehensive estate plan. These designations make it possible for a person to handle financial matters from paying your bills if you can no longer manage your own finances to tracking down your heirs to distribute property in the event of your death.

My parent was coerced into changing a will: what can I do?

As our parents get older, their physical and mental faculties might start to deteriorate. In these difficult situations, the roles can quickly get reversed and it will be up to the children to take care of and protect their parent. This can be a challenge, particularly if you are estranged or if your loved one is being cared for by someone else.

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