08.11.2020
Understanding Distribution Clauses in Your Estate
One of the most commonly misunderstood aspects of your estate planning is considering what you’ll do with your personal property. It is not recommended that …
Understanding Distribution Clauses in Your Estate
One of the most commonly misunderstood aspects of your estate planning is considering what you’ll do with your personal property. It is not recommended that you give all of your personal property to one of your beneficiaries and trust that they will be able to distribute it according to your wishes.
One of the most common methods for a person to deal with their personal property inside their estate is to distribute it equally among beneficiaries.
This does give everyone a say in the distribution but is not a perfect plan. You can use something known as a distribution clause to ensure that your wishes are clearly documented. You could, for example, establish a time limit for parties involved to agree as to how personal property should be distributed. This will primarily fall on the personal representative or the person named in your estate planning documents to handle the management of closing out your estate as well as your personal property. 
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Blog
08.07.2020
Understanding the Power of Appointment in Trusts
Many people who approach their estate planning attorney about putting together a trust have a goal of establishing the trust for the beneficiary’s lifetime, while …
08.04.2020
Study Shows That Taxes Are a Leading Reason Americans Renounce Their Citizenship
Moving to a different state carries its own set of unique estate planning concerns but moving abroad makes them even more complicated. According to 2016 …
08.03.2020
New Study Reveals Estate Planning Concerns of Cryptocurrency Owners
Are you an owner of cryptocurrency? A recent study might reflect some of the feelings that you have about your investment in your funds. According …
07.29.2020
Should I Transfer My New Jersey Home to My Child Now?
If you own an entire property in New Jersey or a portion of a property in New Jersey but live outside the state, there are …
07.23.2020
Estate Planning for An Adult with a Disability
Planning for an estate is important for everyone, but especially if you are the caretaker of an adult with disabilities, it’s important to ensure all …
07.21.2020
The Financial Outlook for Workers has Changed
As a result of Covid-19, many people are thinking about estate planning and financial planning in a whole new different way. Having difficult conversations about …
07.20.2020
Do You Think You Are Not Rich Enough to Consider the Benefits of Estate Planning?
The federal exemption for estate taxes in the United States is very generous, to the point that many people assume that they do not have …
07.15.2020
Estate Planning Matters for Your Small Business
Small business owners have plenty of things to think about in the wake of a worldwide pandemic that has shaken many things up. But that …
07.14.2020
Large and In Charge? Giant Firms atop Market Is Nothing New
The world is changing, this crisis has cemented the dominance of a handful of very large technology companies (FAANG – Facebook, Amazon, Apple, Netflix, Google). …
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