August 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 ...
Learn MoreUnderstanding 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
August 7, 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 ...
Learn MoreAugust 4, 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 ...
Learn MoreAugust 3, 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 ...
Learn MoreJuly 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 ...
Learn MoreJuly 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 ...
Learn MoreJuly 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 ...
Learn MoreJuly 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 ...
Learn MoreJuly 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 ...
Learn MoreJuly 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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