tag:blogger.com,1999:blog-70348956701587164872024-02-08T10:08:52.537-08:00ESTATE LAW INFO CENTERinformation about the estate lawsKuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.comBlogger53125tag:blogger.com,1999:blog-7034895670158716487.post-13231878641463243272008-01-13T16:56:00.001-08:002008-01-13T16:56:31.727-08:00How to Understand Mexican Real Estate<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> You looked at a gorgeous piece of oceanfront property in Mexico and you're hooked. Your dream of retiring by the beach is about to come true. But there are things you need to know when entering into a contract. Before signing the purchase/sell agreement, make sure you understand how you will hold title to your piece of Mexican paradise. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Moderate </div> <h3 class="SubHeader">Things You'll Need</h3> <ul id="ThingsYouWillNeed" class="List_Arrow"><li>A trustworty real estate agent, preferably from a well-known company.</li><li>A reputable escrow company</li><li>A good Notario Público (Notary Public)</li></ul> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> If your property is located within 60 miles of the border or 30 miles from the coast, you will need a "Fideicomiso" or Mexican Bank Trust.<br />The Fideicomiso protects your investment by allowing the Mexican bank of your choice to act as the Trustee of the Trust and you as the Beneficiary. This means the Mexican bank or Trustee takes instructions from the Beneficiary only--you. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> The duration of the Fideicomiso is for a period of 50 years and is renewable for an additional period of 50 years. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> As the Beneficiary of the Trust, you have the right to occupy and possess the property, rent it out, build on it, add to it or make any improvements you deem necessary. </div> </div> <div class="Step"> <div class="StepNumber"> 4</div> <h4> Step Four</h4> <div class="StepContent"> Get a title search. Get an extensive chain of title, one that goes back more than 1 or 2 owners of record. </div> </div> <div class="Step"> <div class="StepNumber"> 5</div> <h4> Step Five</h4> <div class="StepContent"> Invest in title insurance. Title insurance is available by reputable U.S. title companies. Avoid unpleasant surprises. </div> </div> <div class="Step"> <div class="StepNumber"> 6</div> <h4> Step Six</h4> <div class="StepContent"> Use the services of an escrow company. They will hold your money in an insured escrow account until yout Trust is complete. </div> </div> <div class="Step"> <div class="StepNumber"> 7</div> <h4> Step Seven</h4> <div class="StepContent"> Make sure your deed of title or "escritura" has been duly recorded with the Mexican Property Tax Office (Catastro) and the Public Registry of Property and Commerce (Registro Público de la Propiedad y el Comercio). </div> </div> <div class="Step"> <div class="StepNumber"> 8</div> <h4> Step Eight</h4> <div class="StepContent"> Pay your property taxes each year. "Catastro" will not mail you a notice. Make sure you ask your real estate agent if you can set up an account for the purpose of paying your property taxes, as you cannot mail the payment or wire the funds from your bank in the U.S. </div> </div> </span> <span id="Span1"> <div class="clr"> </div> <h3 class="SubHeader">Tips & Warnings</h3> <ul class="TipsAndWarnings"><li class="lstTip"> Your property is not an asset of the Mexican Bank. The Fideicomiso is a trust agreement and is like an estate trust, giving you all the rights of ownership. The bank does charge an annual fee for its services.</li><li class="lstTip"> You can name a U.S. corporation as the Beneficiary of the Trust.</li><li class="lstTip"> Have the "escritura" translated by a reputable translator.</li><li class="lstWarning"> Until your receive your recorded "escritura" and all rights have been transferred to you, the legal owner of record is still the previous owner.</li><li class="lstWarning"> Do not let anyone sell you ejido land. You will never obtain a legal title for it. Ejido land is land set aside by the government of Mexico for its indigenous people. It cannot be sold to foreigners.</li><li class="lstWarning"> In Mexico, you cannot record transfers of title without going through a Notario Público.</li></ul> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-12055316922543741392008-01-13T16:55:00.003-08:002008-01-13T16:55:50.664-08:00How to Settle Your Living Trust<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> If you are a friend or loved one of someone who has recently passed away, you are in a common but painful position of mourning. This friend or loved one may have left benefits in the form of a living trust, and it is possible that you were remembered in this document as a beneficiary of some kind. If you are wondering how to settle the trust, the answer is simple. Read on for more information. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Moderate </div> <h3 class="SubHeader StepTitle">Settling a Living Trust</h3> <h3 class="SubHeader">Things You'll Need</h3> <ul id="ThingsYouWillNeed" class="List_Arrow"><li>Attorney</li></ul> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> Wait to be contacted by the successor trustee, which is the person to whom the trust passed at the time of death. This person is responsible for carrying out the orders of the trust. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> If you are the successor trustee, carry out the following steps. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> Make sure that any creditors of the deceased have been paid as well as any income and death taxes that apply. </div> </div> <div class="Step"> <div class="StepNumber"> 4</div> <h4> Step Four</h4> <div class="StepContent"> Hire an attorney to make sure you have not missed any taxes or other important factors. You are now personally liable for these taxes. The attorney will also help you to settle the estate. </div> </div> <div class="Step"> <div class="StepNumber"> 5</div> <h4> Step Five</h4> <div class="StepContent"> Contact the inheritors and set up transfers of assets as required by the trust and as instructed by the attorney. </div> </div> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com2tag:blogger.com,1999:blog-7034895670158716487.post-32540942607399707482008-01-13T16:55:00.001-08:002008-01-13T16:55:21.942-08:00How to Leave Money to a Pet in a Will<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> The late Leona Helmsley reportedly left $12 million to her dog. For people who don't like animals, the idea of including them in a will is ridiculous. To animal lovers, it's a reassuring. Unfortunately, the law considers pets as property and one property can't leave property to another, including cash. But there are actions we can take to insure our pet's well being if they should outlive us. Read on to find out how. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Moderately Easy </div> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> Be clear about what you legally can and can't do for your companion animal after you're gone. You cannot make your dog a beneficiary, your cat cannot serve as your executor and the $10,000 you bequeath to your African Gray will probably end up with a worthless relative who decides to challenge the will. You can, however, place any amount of money you choose into a special trust to fund the precise care you wish for your pet or pets – if pet trusts are recognized in your state. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> Choose a trusted friend or family member to serve as trustee of the money you set aside for the care of your companion animal. It would be a good idea to assign a co-trustee so they can keep an eye on each other. You should also choose an alternate trustee in case one or both of the co-trustees pass away before your pet. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> Make sure the people you choose to serve as trustees understand they'll be legally responsible to make sure the money is spent on your pet. A pet trust is not just a request. A pet trust is an enforceable trust and the pet is indeed the primary beneficiary. </div> </div> <div class="Step"> <div class="StepNumber"> 4</div> <h4> Step Four</h4> <div class="StepContent"> Exercise your option not to leave your pet's care to a friend or relative since will or no will, it's never the animals who end up trying to get all the money. It's sometimes more prudent to leave a no-kill, non-profit animal rescue a certain amount of money in a will in exchange for lifelong care of a pet or pets. </div> </div> <div class="Step"> <div class="StepNumber"> 5</div> <h4> Step Five</h4> <div class="StepContent"> Consider a provision in your legal document that any money left in the trust after the animal dies goes to a specific charity or is divided among several specific charities. This is smart because if someone challenges the will, they'll have to not only fight your estate for the money, but all the charities you've named as well. </div> </div> </span> <span id="Span1"> <div class="clr"> </div> <h3 class="SubHeader">Tips & Warnings</h3> <ul class="TipsAndWarnings"><li class="lstTip"> The ASPCA.org provides a handy pet trust state laws chart in the "Planned Giving" section, but double check your state's requirements with an attorney before completing any legal documents.</li><li class="lstTip"> If you have multiple pets or plan to have additional pets in the future, you may wish to create a trust for all the pets you'll have in your lifetime, rather than a separate trust for each.</li></ul> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-86667623221963507782008-01-13T16:54:00.005-08:002008-01-13T16:54:58.051-08:00How to Get Power of Attorney for a Military Deployment<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> Before you deploy, get a military power of attorney for your spouse or the person taking care of your financial matters at home. It won’t cost you a thing, and it will alleviate stress for you and your family after you deploy. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Moderately Easy </div> <h3 class="SubHeader">Things You'll Need</h3> <ul id="ThingsYouWillNeed" class="List_Arrow"><li>Military power of attorney</li></ul> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> Designate a person, usually a spouse or a family member, who will take care of your financial and personal matters while you are deployed. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> Determine the length of time a power of attorney will be necessary. Depending on the deployment schedule, this is usually 6 months to a year. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> Locate a local U.S. Armed Forces Legal Assistance office. You are not required to pay and you can use their services if you are active duty, retired active duty or a dependant of either. </div> </div> <div class="Step"> <div class="StepNumber"> 4</div> <h4> Step Four</h4> <div class="StepContent"> Consult with a legal assistance attorney to create a military power of attorney. </div> </div> <div class="Step"> <div class="StepNumber"> 5</div> <h4> Step Five</h4> <div class="StepContent"> Specify the actions you want included in a special power of attorney. If you choose a general power of attorney, you will give total control of your finances and personal matters to the person you designate. </div> </div> <div class="Step"> <div class="StepNumber"> 6</div> <h4> Step Six</h4> <div class="StepContent"> Sign the power of attorney before you deploy! Even the simplest of tasks, like shutting off utilities, will be impossible without that signed piece of paper. </div> </div> </span> <span id="Span1"> <div class="clr"> </div> <h3 class="SubHeader">Tips & Warnings</h3> <ul class="TipsAndWarnings"><li class="lstTip"> You can use a civilian lawyer to get a power of attorney, but if your power of attorney will be used in a different state, it is best to have a military power of attorney. Although anyone can personally refuse to accept them, military power of attorneys will be accepted in any state, no matter where they were drafted.</li><li class="lstWarning"> If you choose a general power of attorney, be sure you trust the person you designate. They will have complete authority over all of your financial matters.</li></ul> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-2717699399054761512008-01-13T16:54:00.003-08:002008-01-13T16:54:42.214-08:00How to Evaluate a Living Trust<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> A living trust is simply a trust that you set up while you are still alive. Once you die or become incapacitated, a trustee of your choosing will have the power to make decisions regarding your trust. This allows you to have more control over your assets, both while you are here and when you are not, instead of leaving your decisions up to a probate judge. There are three key things to think about when considering a living trust. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Moderate </div> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> Decide whether or not you want to appoint a trustee to oversee your assets, if and when you become unable to do so. This person will be given full authority over the trust, so it is important to choose a neutral third party who won't stand to gain from controlling your assets. For example, you might want to choose a lawyer, rather than a family member, to be your trustee. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> Determine how important it is for you to control the allocation of your assets, rather than relying on the probate process. A living trust will allow you to do just that, to ensure that your assets will be left to exactly whom you would like. You will most likely be able to avoid probate completely, if you decide to make a living trust. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> Establish how important it is for you to protect your loved ones from estate taxes and others who may try to seize your assets after you pass on. This is another benefit of a living trust, since probate can often leave loved ones with 60 percent or less of your assets. </div> </div> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-80968656381211576602008-01-13T16:54:00.001-08:002008-01-13T16:54:23.880-08:00How to Decide if you need a will, a living will, a living trust or all three.<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> How to Decide if you need a Will, a Living Will, a Living Trust or all three. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Easy </div> <h3 class="SubHeader">Things You'll Need</h3> <ul id="ThingsYouWillNeed" class="List_Arrow"><li>You'll need to read this short article.</li><li>Discuss it with your family members and loved ones.</li><li>Then get to work.</li></ul> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> A Will, a Living Will and Living Trust<br />(Do you need one, two or all three?)<br /><br /><br />To write a will you must first know what a will is, what a will covers and doesn't cover, and what other legal estate planning documents you might want and need. A will, a living will, and a living trust are important legal documents. Every adult American should probably have one of each AND understand what each does. So that you will know the difference between a will, a living will and a living trust, I will briefly describe them and what each is used to accomplish.<br /><br />What is a LIVING TRUST? You can put property into a living trust while you are still alive. When you die, your property automatically goes to your heirs without going through Probate Court, which can be very time consuming as well as expensive. You can revoke a living trust at any time if you change your mind, or simply amend and update it as situations change during your lifetime.<br /><br />What is a LIVING WILL? A living will is a legally binding document that dictates one's wish NOT to be kept alive by artificial life support equipment in the event of a terminal illness or condition. By limiting treatment, a living will sets limits on hospital bills which can drain or even completely wipe out your assets, leaving little in your estate for your heirs.<br /><br />What is a WILL? A will is a legal document that dictates how your property (real property, bank accounts and insurance benefits, etc.) is to be distributed after your death. It may also designate guardians for your children. Your will MUST pass through Probate Court before your estate can be distributed to your heirs. Whether you need a simple or a sophisticated will depends on your assets and you should know your situation well enough to determine if you need professional assistance in writing or filing them.<br /><br />All three of the aforementioned legal documents can work together to satisfy your various estate planning needs. A living trust permits your financial assets to go to your heirs without the time and expense of probate. A will is used to cover all the property not included in the living trust; and remember, without a will the state will determine who gets your remaining property after taxes and fees have been paid.<br /><br />A number of simple legal 'kits' containing fill-in-the-blank sample documents like the ones mentioned above are available at your local library as well as on the Internet. These kits are generally inexpensive and if you have the confidenc </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> Now that you've read this article, show and discuss it with your family members and loved ones. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> Now, do further reasearch if you feel it's necessary either online, at the library or here at e-How; or, see a qualified attorney if you feel your case requires the services of a licensed professional. Ask for referrals from trusted, knowledgable friends or simply do a search of your local telephone directory. </div> </div> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-31826836118679094712008-01-13T16:53:00.002-08:002008-01-13T16:54:03.426-08:00How to Choose an Agency to Set Up a Memorial Fund<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> When a friend or family member passes away, there is often an urge to make a charitable contribution in that person's name. However, you may not know the best charity to which you should donate your money. If a close friend or relative has recently passes away, you can choose an agency with which to set up a memorial fun in order to give people a donation option. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Moderate </div> <h3 class="SubHeader">Things You'll Need</h3> <ul id="ThingsYouWillNeed" class="List_Arrow"><li>Information about the deceased's donation preferences</li><li>Will</li></ul> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> Discuss memorial fund options with your loved one if death is a certainty in the future. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> Review the deceased's will to see if specific instructions were given regarding memorial funds. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> Collect information about where the deceased has donated money in the past few years or where money from the estate will be going. </div> </div> <div class="Step"> <div class="StepNumber"> 4</div> <h4> Step Four</h4> <div class="StepContent"> Consider churches at which the deceased was a member. </div> </div> <div class="Step"> <div class="StepNumber"> 5</div> <h4> Step Five</h4> <div class="StepContent"> Consider organization fighting the disease causing the deceased's death, if that is the case. </div> </div> <div class="Step"> <div class="StepNumber"> 6</div> <h4> Step Six</h4> <div class="StepContent"> Call each organization on the list to find out about the possibility of a memorial fund. Some simply are not set up to run such programs. </div> </div> <div class="Step"> <div class="StepNumber"> 7</div> <h4> Step Seven</h4> <div class="StepContent"> Talk with other friends and family members of the deceased for input about where the money should go. </div> </div> <div class="Step"> <div class="StepNumber"> 8</div> <h4> Step Eight</h4> <div class="StepContent"> Choose the organizations that most need the money or that were most dear to the deceased. </div> </div> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-21231608823174683972008-01-13T16:53:00.001-08:002008-01-13T16:53:33.098-08:00How to Make an Irrevocable Trust<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> An irrevocable trust is an estate-planning tool that allows you to control your assets, provide for your heirs and sidestep some estate and income taxes. Engaging legal counsel to help prepare these documents is recommended, although you may be able to make your own irrevocable trust by following these simple steps. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Moderate </div> <h3 class="SubHeader">Things You'll Need</h3> <ul id="ThingsYouWillNeed" class="List_Arrow"><li>Irrevocable trust forms</li><li>List of assets</li><li>Beneficiaries</li><li>Lawyer</li><li>Notary public</li></ul> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> Make a list of your assets and the individuals you would like to receive your property upon your death or incapacitation. Keep in mind that once you make an irrevocable trust, it cannot be changed. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> Obtain the necessary forms to make your irrevocable trust from an attorney, a qualified trust preparer, a paralegal or on the Internet at websites, such as forms.lawguru.com. Seek legal assistance if you need help completing the forms </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> Prepare your irrevocable trust to provide for your minor and adult children, grandchildren and any developmentally handicapped heirs. </div> </div> <div class="Step"> <div class="StepNumber"> 4</div> <h4> Step Four</h4> <div class="StepContent"> Take advantage of making an irrevocable trust to exclude unwanted individuals from staking a claim to your estate. </div> </div> <div class="Step"> <div class="StepNumber"> 5</div> <h4> Step Five</h4> <div class="StepContent"> Study your local, state and county laws governing trusts. You may have to complete state-specific documents when preparing yours. </div> </div> <div class="Step"> <div class="StepNumber"> 6</div> <h4> Step Six</h4> <div class="StepContent"> Abide by Internal Revenue Service code regulations if you are making an irrevocable trust to avoid estate and/or income taxes. When that is the case, you (the individual establishing the trust) can't have any power or control—direct or indirect—over the property or income of the trust. Obtain a tax exemption form from the county assessor's office in the county where the property is located. </div> </div> <div class="Step"> <div class="StepNumber"> 7</div> <h4> Step Seven</h4> <div class="StepContent"> Verify what must be done to "fund" your trust, including transferring property ownership, deeds and financial accounts. </div> </div> <div class="Step"> <div class="StepNumber"> 8</div> <h4> Step Eight</h4> <div class="StepContent"> Have your documents notarized and/or witnessed and, if necessary, recorded with your local county recorder's office to make them official. </div> </div> </span> <span id="Span1"> <div class="clr"> </div> <h3 class="SubHeader">Tips & Warnings</h3> <ul class="TipsAndWarnings"><li class="lstTip"> An irrevocable trust cannot be amended.</li><li class="lstTip"> Consult an attorney if you have questions or concerns about making an irrevocable trust.</li><li class="lstWarning"> A "Medallion Signature Guarantee" might be required when creating your irrevocable trust. Many banks provide a Medallion Signature Guarantee at no charge for their customers. It is different from notarizing a signature, because it guarantees that it is your signature.</li></ul> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-65705378132697052962008-01-13T16:52:00.004-08:002008-01-13T16:53:12.917-08:00How to Create a Living Trust<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> How can you safeguard the wealth that you've earned and pass it on<br />to your heirs? One way is to establish a living trust. This financial<br />arrangement gives someone you choose legal title to your property<br />during your lifetime. This means he or she--not someone the state<br />chooses--will take care of your property should you become incapacitated.<br />Living trusts cost more to create, administer and manage than<br />wills, but they also avoid probate costs, reduce estate taxes, and set<br />up long-term property management. Plus they offer more privacy than<br />wills, keeping your finances out of the courts. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Moderate </div> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> Learn the difference between regular trusts and living trusts. A trust is a legal arrangement where you give control of your property to a trust and name a trustee and beneficiaries. A living trust differs from a regular trust in that it is created while you're alive, and it allows you to control the distribution of your estate and to transfer ownership of your property and assets into the trust. It also allows your beneficiaries to avoid probate. Many times, living trusts are irrevocable--once you give the money or asset away, you can't get it back. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> Determine if a living trust is right for you. Consider one if your total estate is valued at $100,000 or more; if you will be subject to estate taxes; or if you have a complicated family situation, such as children from a previous marriage whom you wish to ensure receive their share of your estate. An estate attorney will help you figure out if a living trust is what you need. Key questions to ask include: Am I up to the comprehensive recordkeeping duties that come with managing the trust? Do I want to give someone control over my estate if I become incapacitated? Is a will a better option for me? </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> Talk to an experienced estate-planning attorney or a financial adviser. You'll need a lawyer anyway, as most states require that attorneys draft living-trust documents. Ask your local bar association (abanet.org) for a list of reputable lawyers or contact LegalMatch.net. When you interview candidates, look for someone with whom you'll feel comfortable working and whose rates are reasonable. Always have the attorney write out any agreements for services and fees. </div> </div> <div class="Step"> <div class="StepNumber"> 4</div> <h4> Step Four</h4> <div class="StepContent"> Protect your family's privacy by avoiding probate. Probate is a legal process where a deceased person's will is filed with the local court, and only after all debts are paid off are any remaining assets and property distributed. Probate costs can range from 2 to 4 percent of the total value of your estate. If your estate comes before a judge in court, your will becomes public, and anyone can inspect it. Keep your affairs private with a living trust, and help your loved ones avoid this costly, time-consuming process. </div> </div> <div class="Step"> <div class="StepNumber"> 5</div> <h4> Step Five</h4> <div class="StepContent"> Fund your living trust sufficiently. You can use numerous sources, including bank accounts, bonds, stocks, real estate, personal property and life insurance. You simply need to ensure that the title on these assets is retitled with the name of your trust. Also ensure that you transfer any property you own from your name to the trust's name. An estate-planning specialist, ideally a lawyer or a financial adviser, will be able to walk you through it. </div> </div> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-77007041310502686682008-01-13T16:52:00.003-08:002008-01-13T16:52:45.895-08:00How to Become a Notary in Florida<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> A notary public is a state-appointed government official with the authority to witness the signing of legal documents and administer oaths. A notary helps to prevent fraud by validating the identity of a signatory and confirms that a document is appropriately executed. Additionally, a notary authenticates that the person signing a document in the notary's presence is doing so of their own free will and has a thorough understanding of what they are signing. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Moderately Easy </div> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> Take the 3 hour notary public training course, which is required by the state of Florida. You can take the course from the Florida Department of State Web site or from the National Notary Association Web site (see Resources). You will then receive a certificate of completion. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> Download both the notary public application form and the bonding form from the National Notary Association. Complete and mail these back to the National Notary Association along with a copy of the course certificate of completion. The National Notary Association will activate your bond and file it with the Florida Department of State. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> Obtain your notary application, alternatively, from a bonding company. You can find a list of Florida bonding companies on the Florida Department of State Web site. Fill out the application and send it back to the bonding company along with a copy of the course certificate of completion. The bonding company will then activate your notary bond and file it with the Florida Department of State. </div> </div> <div class="Step"> <div class="StepNumber"> 4</div> <h4> Step Four</h4> <div class="StepContent"> Obtain the necessary tools to conduct business as a notary public in Florida. An inkstamp is required, and a recordbook is recommended. </div> </div> </span> <span id="Span1"> <div class="clr"> </div> <h3 class="SubHeader">Tips & Warnings</h3> <ul class="TipsAndWarnings"><li class="lstTip"> Even if you are not required to pass an exam, it's a good idea to take a course to gain a thorough, working knowledge of the obligations, rules of conduct and guidelines to being a notary public.</li><li class="lstTip"> There are several private companies that will take you through the entire process of becoming a notary in Florida for a fee.</li><li class="lstTip"> Obtain Notary Errors & Omissions Insurance to protect yourself from any lawsuits. The notary bond protects your client from any errors or negligence on your part. The Errors & Omissions Insurance protects you.</li><li class="lstWarning"> You will be required to pay state application fees. Check with the National Notary Association or the Florida Department of State for more information.</li><li class="lstWarning"> Your term of office in Florida is 4 years. Be sure to renew your commission before your term expires. A refresher course is not required for reappointment of your notary commission. You can renew your commission through a bonding agent. If your commission has expired, but you have taken the course, then send your course completion certificate along with your renewal application to a bonding agent. You can also renew your commission through the National Notary Association.</li><li class="lstWarning"> You must be 18 years of age or older, a permanent resident of Florida and be conversant in English. If convicted of a felony, you must have your civil rights restored.</li></ul> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-12305473147520659472008-01-13T16:52:00.001-08:002008-01-13T16:52:28.296-08:00How to Set Up a Pet Trust<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> Pet trusts are becoming more and more commonplace due to the love and concern Americans have for their pets. After all, pets are considered family members, and it only makes sense to provide for your family member in the event of your disability or death. A pet trust is a legal document that can be monitored by the courts and allows you to entrust money or property to a “trustee” who will be responsible for managing it and distributing it to your designated caregiver for the duration of your pet’s life. There are several steps involved in creating a pet trust--follow these steps and you'll have your trust set up in no time. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Moderate </div> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> Find out if you live in a state that allows pet trusts. Many states do, but not all. Certain states allow what is known as an honorary pet trust, which permits pet owners to leave funds to a specific person, but without court oversight. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> Hire an attorney to assist you with setting up the trust. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> Include the name and address of a designated trustee and a designated caregiver, as well as a successor trustee and successor caregiver who will take over in the event the primary trustee or caregiver can no longer fulfill their obligation to care for your pet. </div> </div> <div class="Step"> <div class="StepNumber"> 4</div> <h4> Step Four</h4> <div class="StepContent"> Positively identify your pet in order to prevent fraud with photos and a microchip. Also, you might consider providing DNA samples. </div> </div> <div class="Step"> <div class="StepNumber"> 5</div> <h4> Step Five</h4> <div class="StepContent"> Describe your pet’s lifestyle, including exercise and play habits and specific care instructions such as what type of foods to feed him and how often. Specify any health problems and medications your dog requires, as well as how to administer the medication. </div> </div> <div class="Step"> <div class="StepNumber"> 6</div> <h4> Step Six</h4> <div class="StepContent"> Provide the name(s) of veterinarians that have treated your dog and require that the trustee ensures the caregiver provides regular veterinary check-ups. </div> </div> <div class="Step"> <div class="StepNumber"> 7</div> <h4> Step Seven</h4> <div class="StepContent"> Determine the amount of cash or assets needed to adequately cover the expenses for your pet’s care. Also specify how the funds should be distributed to the caregiver. </div> </div> <div class="Step"> <div class="StepNumber"> 8</div> <h4> Step Eight</h4> <div class="StepContent"> Establish the amount of cash or assets needed to cover the administration of the pet trust. For instance, fees accrued by the trustee and attorney fees. </div> </div> <div class="Step"> <div class="StepNumber"> 9</div> <h4> Step Nine</h4> <div class="StepContent"> Name a beneficiary to receive any remaining funds that are not used by the pet trust. </div> </div> <div class="Step"> <div class="StepNumber"> 10</div> <h4> Step Ten</h4> <div class="StepContent"> Provide instructions on how to handle your pet’s remains. </div> </div> </span> <span id="Span1"> <div class="clr"> </div> <h3 class="SubHeader">Tips & Warnings</h3> <ul class="TipsAndWarnings"><li class="lstTip"> You can designate a portion of the proceeds from your life insurance policy to fund a pet trust.</li><li class="lstTip"> If a pet trust law does not exist in your state, you can still set one up as long as you establish some connection with a state that has one. For instance, if your designated trustee and/or caretaker live in a state that allows pet trusts or you own property in a state that allows pet trusts.</li><li class="lstTip"> The Humane Society of the United States publishes a free estate planning kit, titled, “Providing for Your Pet’s Future Without You” and encourages every pet owner to establish a trust to ensure your pet is cared for in the event of your severe disability (in which case a will would not be valid). For more information or to order a kit, visit the HSUS website: www. hsus.org/petsinwills or call (202) 452-1100.</li><li class="lstTip"> A good source for information on estate planning for pets is the book "All My Children Wear Fur Coats" by Peggy R. Hoyt, J.D., M.B.A. (See Resources below)</li><li class="lstWarning"> Only appoint a trustee and caregiver you know you can trust after carefully discussing it with them and feel certain they are willing and able to take on the responsibility of your pet.</li><li class="lstWarning"> Always keep your pet trust up to date and clearly state that the trustee receives the money only in the event that your death or illness precedes that of your pet. There have been cases where pet owners ended up surviving their pets, yet trustees were still awarded money by the courts.</li></ul> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-53506791401865182282008-01-13T16:51:00.000-08:002008-01-13T16:52:09.662-08:00How to Know a Family Lawyer is Doing His Job<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> More than likely, you have used the services of an attorney, whether to write a will, fight a speeding ticket, buy a house or represent us in some other civil matter. You may have received bills for services where every minute spent by the attorney or his staff is listed in excruciating detail. How do you know if your family attorney is doing a good job for you?<br /><br />Assuming that you've chosen an attorney after some sensible research, you should be an informed consumer of legal services. Ask yourself a few questions--and if you don't know the answer, ask your attorney before taking further action. Read on to learn more. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Moderate </div> <h3 class="SubHeader">Things You'll Need</h3> <ul id="ThingsYouWillNeed" class="List_Arrow"><li>Access to the Internet or a public library</li></ul> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> Are you informed of court dates, filings and other events in your case's history? Frequently, if a litigant (that's you) is represented by an attorney, courts send notices of appearance to the attorney of record, presuming that the attorney will communicate with her client. If you miss an appearance, the court may find against you, so it's important for you to keep track of appearances. Attorneys who forget appearances or ask for adjournments (re-scheduling) frequently may have too much work or too little help to give your case the attention it requires. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> Is your attorney prepared when you talk to him or he appears in court with you? Many attorneys read volumes and are accomplished pack rats. This is OK if your attorney is able to pull the current draft of your will out of that stack of paper on the fourth shelf of the bookcase behind his desk. If he takes too long to find things, you're probably financing some search time. Lawyers start and stop dozens of jobs in a work day and the atmosphere in many law offices alternates between that of a circus and a tomb. As a client, you should find your legal representative and staff ready to focus on your case and use their (your) time wisely and productively. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> If your case involves court appearances, is your attorney there early to explain what's about to happen and what you should do (presumably your attorney has told you to dress neatly and to stand up when the judge enters or stands)? Your attorney should explain to you what to expect in court--and what sort of procedure will be followed. You deserve to have your questions answered and you deserve it in terms you understand. </div> </div> <div class="Step"> <div class="StepNumber"> 4</div> <h4> Step Four</h4> <div class="StepContent"> Do you have questions about your attorney's work or ethics? You can consult your state's attorney discipline organization to find out if there have been complaints about her. These organizations are variously known as attorney discipline, attorney regulation or attorney ethics boards or offices and are generally organized by your state's Attorney General or supreme court. State bar associations and attorneys general often have attorney grievance committees. All of these organizations maintain public records of discipline. </div> </div> <div class="Step"> <div class="StepNumber"> 5</div> <h4> Step Five</h4> <div class="StepContent"> Do you trust your attorney? Sometimes personalities just don't mesh. Sometimes clients want a friend instead of an advocate. And sometimes, lawyers are just too busy to take another case but can't turn it down for one reason or another. If you don't think that your attorney is serving your best interests, let him know why. Maybe it can be cleared up. Maybe he'll say you should seek other counsel. Either way, you'll have your concerns out on the table and feel better about your choice to go or stay. </div> </div> <div class="Step"> <div class="StepNumber"> 6</div> <h4> Step Six</h4> <div class="StepContent"> If you have suspicions, check with an organization in your state that keeps track of lawyer complaints. Some index websites are listed below, beginning with the American Bar Association. </div> </div> <div class="Step"> <div class="StepNumber"> 7</div> <h4> Step Seven</h4> <div class="StepContent"> If you do change attorneys, be sure to ask that a copy of your file be forwarded to your new attorney. You will need to sign a release for this to be done. </div> </div> </span> <span id="Span1"> <div class="clr"> </div> <h3 class="SubHeader">Tips & Warnings</h3> <ul class="TipsAndWarnings"><li class="lstTip"> Most state bar associations have staff that are willing to answer questions about attorney performance. Do not expect them to deal with a specific situation or give you legal advice, though. They can tell you what the code of ethics is in your state, but cannot take sides in a dispute. Most bar association and state court system websites will have a link to the state's attorney code of ethics.</li><li class="lstTip"> Always be civil. Most mistakes committed by attorneys are due to lack of time or organization and they will gladly address your concerns. In cases where incompetence or an ethics violations is actually at issue, rather than yelling at the attorney, file a complaint with your state's Attorney General or court system's office or board of attorney regulation or discipline. Making a complaint to the right body may save someone else the grief you've gone through.</li><li class="lstWarning"> Attorneys practice in all sorts of ways from solo general practitioners to partners or associates in large multinational firms. It is usually easier to answer questions about whether your solo or small-firm lawyer is doing a good job for you. But large firms will do just as good a job and have wider resources to draw upon. In a large firm, you may not always deal with the same lawyer but if you're frequently passed on to a paralegal or some other member of the firm, start asking questions.</li><li class="lstWarning"> Do not expect an attorney representing, say, your parents to talk to you about their affairs unless your parents have instructed her to do so. Privacy regulations and legal ethics dictate that attorney-client discussions are privileged, meaning they belong only to the attorney and client.</li></ul> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-80127949393181989152008-01-13T16:48:00.003-08:002008-01-13T16:48:44.803-08:00How to Write Your Will<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> Everyone needs to write a will even if you don't have significant assets. It can be done without expensive visits to a lawyer. With today's modern convenience of the Internet, there are plenty of online ways to create a will. A lot of these take less than an hour from start to finish and cost less than $100. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Moderately Easy </div> <h3 class="SubHeader">Things You'll Need</h3> <ul id="ThingsYouWillNeed" class="List_Arrow"><li>List of assets</li><li>List of debts</li><li>Last wishes</li></ul> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> Calculate your assets. It is important to make an estimate of any assets you have. If you have less than $2 million, you may avoid estate taxes. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> Pick your heirs. When writing a will there are a lot of decisions to make--whom to leave property and/or assets to and appointing an alternate heir, in case your first choice doesn't survive.. If you are married your spouse should make a separate will. Property and assets that are jointly owned will automatically go to the surviving co-owner. Also, note that retirement accounts and life insurance where a beneficiary has been named are not under the jurisdiction of a will. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> When creating your will online always remember to print it and mail it to yourself. It is required by all states to have at least two witnesses when you sign your will. It may also be necessary to select executor or person who will carry out the terms of your will. This person, can and often is someone who will inherit assets under the will. Some states may require a notarized witness affidavit. </div> </div> <div class="Step"> <div class="StepNumber"> 4</div> <h4> Step Four</h4> <div class="StepContent"> Once your will is completed, put it in a safe place. Make several copies of your will and keep them in separate locations. Tell your loved ones and your executor where your will is. </div> </div> <div class="Step"> <div class="StepNumber"> 5</div> <h4> Step Five</h4> <div class="StepContent"> See Resources below for links to online will sites. </div> </div> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-80266006371707639922008-01-13T16:48:00.001-08:002008-01-13T16:48:21.373-08:00How to Write a Health Care Proxy Document<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> A health care proxy, known as a "living will," "advance directives for health care" or a "durable power of attorney for health care," is a legally recognized document that reflects your medical treatment wishes. Without such a document of intent, the decision to keep an incapacitated patient alive by extreme measures could be left to the state. While such a subject may difficult to consider, preparation can save your family the pressure of stressful decisions in the future. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Easy </div> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> Get a form. Health care proxy forms are available in stationery stores and online. It isn't necessary to have these forms prepared by a lawyer. Although you can use the sample forms as written, they also serve as guidelines if you want to develop your own. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> Think about what you want. An "advance directive" spells out your wishes as far as the kind of medical care you do or don't want. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> Choose someone to whom you can give the legal authority to make medical decisions if you are unable to decide for yourself. The proxy directive, also called a "durable power of attorney for health care," names the individual you have chosen. Naturally, you must consult with this person to be sure that they understand and are willing to accept this responsibility. </div> </div> <div class="Step"> <div class="StepNumber"> 4</div> <h4> Step Four</h4> <div class="StepContent"> Spell out the specific medical treatments you wish to accept or refuse in an instruction directive, or "living will." </div> </div> <div class="Step"> <div class="StepNumber"> 5</div> <h4> Step Five</h4> <div class="StepContent"> Consider a combined directive. This is a single document that both spells out treatment and names the proxy. </div> </div> <div class="Step"> <div class="StepNumber"> 6</div> <h4> Step Six</h4> <div class="StepContent"> Don't worry--the proxy is in effect only as long as you are unable to make these decisions. Should you regain this ability, you can make your own decisions. You can change or update a directive at any time and also have the power to revoke it. </div> </div> <div class="Step"> <div class="StepNumber"> 7</div> <h4> Step Seven</h4> <div class="StepContent"> State clearly in the form that if you are unable to give directions about your care, your family and physicians must honor the directive. The declarant must also state that he or she is legally competent to prepare the directive. </div> </div> <div class="Step"> <div class="StepNumber"> 8</div> <h4> Step Eight</h4> <div class="StepContent"> Spell out such decisions as situations that would lead to DNR (Do Not Resuscitate) and forgoing life-sustaining treatment. Of course, your directive can also request that such treatments be used, as well as refused. In that case, the directive should state that artificially provided fluids and nutrition should be provided, to the extent appropriate. </div> </div> <div class="Step"> <div class="StepNumber"> 9</div> <h4> Step Nine</h4> <div class="StepContent"> Address such issues as artificially provided fluids and nutrition, CPR, life-sustaining measures including mechanical or artificial means, terminal condition meaning an irreversibly fatal illness, permanent unconsciousness--meaning vegetative state or irreversible coma and permanent vegetative state, in which a patient may be kept alive by artificial means, incurable and irreversible disabling diseases such as Alzheimer's and brain death. </div> </div> <div class="Step"> <div class="StepNumber"> 10</div> <h4> Step Ten</h4> <div class="StepContent"> Provide instructions for such specific situations as withdrawal or withholding of specific treatments, the medical conditions under which the patient's wishes must be implemented and any other special considerations. </div> </div> <div class="Step"> <div class="StepNumber"> 11</div> <h4> Step Eleven </h4> <div class="StepContent"> Include organ donation instructions. </div> </div> <div class="Step"> <div class="StepNumber"> 12</div> <h4> Step Twelve </h4> <div class="StepContent"> Have the documents signed and notarized in the presence of 2 witnesses, neither of whom can be the designated proxy or alternates. The witnesses can't be related by blood or marriage to the person making the proxy, entitled to any portion of that person's estate, an attending physician or a person who has a claim against the declarant. Copies of the documents should then be given to the person named as representative, to family members and to the declarant's physician. If the patient is about to be hospitalized or enter a nursing home, the documents should be presented and become part of the patient's record. </div> </div> </span> <span id="Span1"> <div class="clr"> </div> <h3 class="SubHeader">Tips & Warnings</h3> <ul class="TipsAndWarnings"><li class="lstTip"> Your proxy should understand that he or she is responsible for carrying out your wishes, even if others disagree. The proxy document should also name one or two alternate individuals, in case the original is unable to serve.</li><li class="lstTip"> Make sure your directive states your true wishes. If you prefer not to be kept on life support if you suffer from an incurable condition, you should state that two or more physicians must determine that you are in terminal condition, and if life sustaining procedures would only serve to delay the moment of death, then such heroic measures should be withdrawn and the declarant (you) should be allowed to die.</li></ul> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-10565793334646128382008-01-13T16:47:00.002-08:002008-01-13T16:48:02.735-08:00How to Understand a Codicil to a Will<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> A codicil to a will is a part of a will that is added after the original version was drafted. Codicils are often added to change, correct or update a will without changing the entire document. It is important to understand a codicil to be sure that the intentions of the will are carried out. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Challenging </div> <h3 class="SubHeader">Things You'll Need</h3> <ul id="ThingsYouWillNeed" class="List_Arrow"><li>Estate planning attorney</li><li>Copy of the original will and codicil</li></ul> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> Make an appointment with an estate planning attorney in your area. This should be the same attorney that drafted the will and codicil if at all possible. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> Read the original will with the attorney to get a broad understanding of the intentions of the will. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> Go over the codicil to see how it changes or amends the original document. </div> </div> <div class="Step"> <div class="StepNumber"> 4</div> <h4> Step Four</h4> <div class="StepContent"> Make sure that the codicil has been signed the same way as the original will. The codicil will identify the will by referring to the date the original document was written. </div> </div> <div class="Step"> <div class="StepNumber"> 5</div> <h4> Step Five</h4> <div class="StepContent"> Ask any questions you may have concerning the codicil. Provide any information you can to the attorney about changes in family situations that may have warranted the need for a codicil. </div> </div> <div class="Step"> <div class="StepNumber"> 6</div> <h4> Step Six</h4> <div class="StepContent"> Find out how the codicil will effect how the executor of the estate will carry out the wishes of the will. </div> </div> <div class="Step"> <div class="StepNumber"> 7</div> <h4> Step Seven</h4> <div class="StepContent"> Inquire what your next step should be if there are other questions, or if you feel the codicil does not reflect the wishes of the person who signed the original will. </div> </div> </span> <span id="Span1"> <div class="clr"> </div> <h3 class="SubHeader">Tips & Warnings</h3> <ul class="TipsAndWarnings"><li class="lstWarning"> Understand that a will is a legal document and the wishes of the individual must be carried out even if you don't agree with the will or codicil.</li></ul> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-50964509659720153862008-01-13T16:47:00.001-08:002008-01-13T16:47:44.240-08:00How to Transfer Wealth the Right Way<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> Nothing tears a family apart more than arguments over money. To make sure financial issues never come between you and your relatives, take some steps to ensure a smooth transition of any assets. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Moderate </div> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> <div class="StepImage"><div class="img"><a rel="nofollow" href="http://i.ehow.com/images/GlobalPhoto/Articles/2142440/golden-scale1_Full.jpg" title="" class="thickbox"><img src="http://i.ehow.com/images/GlobalPhoto/Articles/2142440/golden-scale1_Thumb.jpg" alt="" border="0" /></a></div><img src="http://i.ehow.com/images/ico_Enlarge.gif" /> <a href="http://www.ehow.com/images/GlobalPhoto/Articles/2142440/golden-scale1_Full.jpg" title="" class="thickbox">Click to enlarge</a></div> As with anything, the key to a smooth asset transfer lies in proper planning—-from deciding your goals to discussing your plans with heirs and working with your lawyer and/or accountant to execute your intentions. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> <div class="StepImage"><div class="img"><a rel="nofollow" href="http://i.ehow.com/images/GlobalPhoto/Articles/2142440/aboutusclipimage0021_Full.jpg" title="" class="thickbox"><img src="http://i.ehow.com/images/GlobalPhoto/Articles/2142440/aboutusclipimage0021_Thumb.jpg" alt="" border="0" /></a></div><img src="http://i.ehow.com/images/ico_Enlarge.gif" /> <a href="http://www.ehow.com/images/GlobalPhoto/Articles/2142440/aboutusclipimage0021_Full.jpg" title="" class="thickbox">Click to enlarge</a></div> You need to decide how much, when and in what form (e.g., cash, stocks, real property) an inheritance will be transferred. A team consisting of an attorney and a tax professional can help. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> <div class="StepImage"><div class="img"><a rel="nofollow" href="http://i.ehow.com/images/GlobalPhoto/Articles/2142440/FamilyStudies1_Full.jpg" title="" class="thickbox"><img src="http://i.ehow.com/images/GlobalPhoto/Articles/2142440/FamilyStudies1_Thumb.jpg" alt="" border="0" /></a></div><img src="http://i.ehow.com/images/ico_Enlarge.gif" /> <a href="http://www.ehow.com/images/GlobalPhoto/Articles/2142440/FamilyStudies1_Full.jpg" title="" class="thickbox">Click to enlarge</a></div> Deciding how to divide assets can have a major impact on family dynamics. Some family members may feel short-changed while others may feel burdened. The best way to address this is to let your family know your intentions ahead of time and, ideally, reach some kind of consensus early on to avoid conflicts down the road. </div> </div> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-14455829575078564222008-01-13T16:46:00.003-08:002008-01-13T16:46:59.474-08:00How to Probate a Will<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> Probate is the legal process of proving a will is authentic and valid. Through probate, legal title is passed from the deceased person to the beneficiary. There are several items that do not go through probate such as life insurance, trusts, beneficiary rights on a retirement plan and a few other legal instruments. Following are steps for probating a will. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Moderate </div> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> Find the will. This could be an easy or a difficult task. The will could be in a desk drawer, safe deposit box, at the lawyer's office, in a home safe, or at a trusted friend's house. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> Determine whether the person who died owned real property. Real property is anything attached to the ground such as a house or even the ground itself (land). Everything else the deceased person owned is considered personal property. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> Determine where your state probates wills. Some states have probate courts while others, like Virginia, do not. If there is a probate court, go there. Other states use the Circuit Court where the decedent's property is located. If no property, go to the county as described in Step 2. </div> </div> <div class="Step"> <div class="StepNumber"> 4</div> <h4> Step Four</h4> <div class="StepContent"> Know the assets owned by the decedent. Have the mail redirected to your house so you are alerted to mortgages, car payments, retirement updates, and other important documents. Searching the house for the place where the decedent kept important documents helps, too. </div> </div> <div class="Step"> <div class="StepNumber"> 5</div> <h4> Step Five</h4> <div class="StepContent"> Request the appointment of an executor or administrator if the decedent didn't specify one to his attorney. Different states call these people different names. Basically, the person who has fiduciary responsibility for the decedent's assets is the executor or administrator. </div> </div> <div class="Step"> <div class="StepNumber"> 6</div> <h4> Step Six</h4> <div class="StepContent"> Make an appointment with the Probate Court or Circuit Court in the correct location. Bring the assets list and approximate values, the original will, and the death certificate. </div> </div> <div class="Step"> <div class="StepNumber"> 7</div> <h4> Step Seven</h4> <div class="StepContent"> Seek legal advice from an estate planning attorney or the clerk at the courthouse for more information. The clerk is the gatekeeper in the court. The clerk can be a valuable resource, so start off on a good foot. </div> </div> </span> <span id="Span1"> <div class="clr"> </div> <h3 class="SubHeader">Tips & Warnings</h3> <ul class="TipsAndWarnings"><li class="lstTip"> Find out what the filing fees are before you show up.</li><li class="lstTip"> Contact the lawyer who drew up the will for more help.</li><li class="lstTip"> The will should be probated in the court where the decedent owned real property. If the person did not own real property, it should be probated where the person died or had her residence.</li><li class="lstTip"> Generally an executor is someone who the will sets out. An administrator is one who the court appoints when the will is silent or the executor is not willing to serve.</li><li class="lstWarning"> If the will is in a safe deposit box and you do not have access, then you will have to ask the court for access.</li></ul> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-85807890951429152072008-01-13T16:46:00.001-08:002008-01-13T16:46:43.676-08:00How to Name a Pet Custodian in a Will<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> It's a sad fact of life, but sometimes our pets outlive us. If we haven't made plans for their care after we're gone, they might be thrust into an animal shelter with mere days to live. We can bequeath an animal rescue a certain amount of money in exchange for lifelong care of our pet or name in our will a family member or friend as our pet's lifetime custodian. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Moderate </div> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> Assess your situation. Think about the number and kinds of pets you have. Decide if you want all your pets to go to one person. There may be two or three that are so close they must stay together; make sure one person is willing to take more than one. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> Determine who you trust. While a family member might love you, they might not love your dog and the day after you're buried, they might put Fido in the pound, despite what they promised you. When selecting a custodian, consider only those people who have met your pet, expressed enjoyment of your pet and who themselves either have in the recent past or currently are providing loving care to their own pet. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> Name an alternate custodian, even two, in case the person you designate falls ill or passes away as well. The same concerns apply to alternate choices. Make sure you trust them to care for your pet. </div> </div> <div class="Step"> <div class="StepNumber"> 4</div> <h4> Step Four</h4> <div class="StepContent"> Ask the person or persons you're considering if they are interested and willing to do what would be asked of them before you put their name on any legal document. Have a very sincere discussion with them and make sure they understand how serious you take this matter, how much you love your pet and that you would expect them to do the same. </div> </div> <div class="Step"> <div class="StepNumber"> 5</div> <h4> Step Five</h4> <div class="StepContent"> Provide a specific amount of money for the custodian to use for your pet. On average, dogs cost about $1,000 per year, depending on size and cats average about $650. Unfortunately, the more money you leave for a pet, the more likely other non pet-loving relatives may try to challenge your will as being made by "that crazy cat lady" or "that dog nut."<br />Make sure your documents are air-tight. </div> </div> <div class="Step"> <div class="StepNumber"> 6</div> <h4> Step Six</h4> <div class="StepContent"> Think about a pet survivors program through an animal rescue organization if you have no friends or relatives you deem trustworthy enough to name as caretakers for your pets. There are several groups that offer such programs, but you will want to thoroughly investigate them before making any commitments. </div> </div> <div class="Step"> <div class="StepNumber"> 7</div> <h4> Step Seven</h4> <div class="StepContent"> Consult an attorney for the proper wording and documents needed to provide lifelong care for your pet or pets. If your attorney is also your trustee, make sure he or she will handle the transfer of your pet to your designated custodian and distribution of funds to care for your pet. You'll need to provide copies of the documents to your named custodian, alternate custodian and veterinarian. </div> </div> </span> <span id="Span1"> <div class="clr"> </div> <h3 class="SubHeader">Tips & Warnings</h3> <ul class="TipsAndWarnings"><li class="lstTip"> The Humane Society of the United States offers a free kit, "Providing for Your Pet's Future Without You," which includes a fact sheet, wallet alert cards, emergency decals for windows and doors, and pet custodian information forms. Request one by writing petsinwills@hsus.org or calling 202-452-1100.</li></ul> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-49849759084048530212008-01-13T16:45:00.006-08:002008-01-13T16:46:22.383-08:00How to Know When to Update a Will<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> A will is a very important document that helps your survivors divide your belongings after you die. Many people prepare a will, but forget to update it after life-changing events occur. Updating your will ensures all your wishes, assets and survivors are current. Following are steps to help you know when it is time to update your will. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Easy </div> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> Add your new spouse to your will immediately following your wedding. Subsequent weddings of your children also should trigger an update as you may want to include your son or daughter-in-law in your will. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> Include a new child in your will as soon as he is born or as soon as an adoption is final. This includes both your own children and your grandchildren. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> Redistribute your assets to people in your will when there is a death in the family. This could mean moving the assets earmarked for the person who died and redistributing them to those still living who are in your will. It could also mean adding monies being distributed to everyone in your will should someone die and leave you a large inheritance. This new money in your life needs to be included in your will. </div> </div> <div class="Step"> <div class="StepNumber"> 4</div> <h4> Step Four</h4> <div class="StepContent"> Account for financial changes in your life. A person makes different amounts of money over his lifetime, so you will need to change your will when you have more to give away. Don't forget that your situation may change the other way--a bankruptcy, for instance--when you may lose things listed in a will. If these are large ticket items, update the will. </div> </div> <div class="Step"> <div class="StepNumber"> 5</div> <h4> Step Five</h4> <div class="StepContent"> Refresh a will that is over five years old to account for your ever-changing life. Get into this habit by establishing a five-year timeline for updating your will. This ensures when you die, you aren't leaving a 30-year-old outdated will. </div> </div> <div class="Step"> <div class="StepNumber"> 6</div> <h4> Step Six</h4> <div class="StepContent"> Update a will when the tax law changes as laws often effect your will disposition. Laws governing the amount of money you can give away tax-free each year changes frequently. These tax breaks could also come to an end in the future. Be ready to update your will as soon as any laws change. </div> </div> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-71255907754167587042008-01-13T16:45:00.005-08:002008-01-13T16:45:54.551-08:00How to Get a Relative to Write a Will<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> Many people don’t like to think about wills because it reminds them that they will die someday. Fifty-five percent of adult Americans have no will according to a recent survey. But you can get a relative to write a will if you use a thoughtful approach. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Moderately Challenging </div> <h3 class="SubHeader">Things You'll Need</h3> <ul id="ThingsYouWillNeed" class="List_Arrow"><li>Information about wills</li><li>Lawyer referrals from your relative’s trusted friends and family members</li><li>Belief that having a will is very important</li><li>Willingness to listen</li><li>Confidence</li></ul> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> Get information about wills in your state. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> Contact your relative’s trusted friends and family members to get referrals to nearby lawyers who do good work. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> Call the lawyers to find out if they accept new clients, how much they charge to draw up wills, how soon they are available and if they have experience with clients who resist writing wills. Get a sense of how easy they are to work with. </div> </div> <div class="Step"> <div class="StepNumber"> 4</div> <h4> Step Four</h4> <div class="StepContent"> Write up the information about the lawyers in an easy-to-read format and print it out. </div> </div> <div class="Step"> <div class="StepNumber"> 5</div> <h4> Step Five</h4> <div class="StepContent"> Find a comfortable time and place to get together with your relative. </div> </div> <div class="Step"> <div class="StepNumber"> 6</div> <h4> Step Six</h4> <div class="StepContent"> Tell your relative how much you respect and value her contributions to the family. <br />Ask him to tell you about the things he’s most proud of in life. While she is talking, listen without interrupting. Be on the lookout for examples of when the relative made a decision, took a risk or thought about the future. </div> </div> <div class="Step"> <div class="StepNumber"> 7</div> <h4> Step Seven</h4> <div class="StepContent"> Mention the strongest of the examples. Explain why you think it was the right thing to do. </div> </div> <div class="Step"> <div class="StepNumber"> 8</div> <h4> Step Eight</h4> <div class="StepContent"> Say that the relative has a unique opportunity to do the right thing again by writing a will. The will makes sure that her assets will be distributed according to her own wishes. Tell him about the lawyers you’ve found who are available now, experienced and easy to talk to. Give her the printed information. </div> </div> <div class="Step"> <div class="StepNumber"> 9</div> <h4> Step Nine</h4> <div class="StepContent"> Ask if he has any questions. Write them down. Say that the lawyer she chooses will answer all of them. Say that he’ll have peace of mind knowing that this is taken care of. </div> </div> <div class="Step"> <div class="StepNumber"> 10</div> <h4> Step Ten</h4> <div class="StepContent"> Thank him for making a great decision that will benefit him and the whole family. Make sure that the will is stored in a secure location that the executor and family members can find when needed. Wills are often stored in safe deposit boxes with copies at lawyers’ offices. </div> </div> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-27784511606755327142008-01-13T16:45:00.003-08:002008-01-13T16:45:36.309-08:00How to Determine if Your State Has a Death Tax<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> To find out the value of your estate, add up the current value of every asset you own and subtract the value of mortgages and other debts. Add to this number the value of taxable gifts made and find your total. If this amount exceeds $2 million, then you will be liable for estate tax upon your death, which is the tax on your right to pass your property to your inheritors. Your estate tax is not payable by you, however, but by your estate at the time of your death. Your executor will be responsible for paying the estate tax from the whole value of your estate. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Moderate </div> <h3 class="SubHeader StepTitle">Determine if Your State Has a Death Tax</h3> <h3 class="SubHeader">Things You'll Need</h3> <ul id="ThingsYouWillNeed" class="List_Arrow"><li>Internet access</li><li>Tax information</li></ul> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> Visit your state’s official Web site to look up tax information. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> Search for death taxes or estate taxes within the Web site to find current information on your state’s death tax. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> Contact a tax broker if you are still unsure and have them help you figure out what taxes you might owe. </div> </div> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-38688274742208701002008-01-13T16:45:00.001-08:002008-01-13T16:45:18.317-08:00How to Decide Who Cares for Children After Death<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> As soon as you have children, you and your spouse should decide upon legal guardians for your kids. These are the people who care for your children should you die or be unable to care for them. It is a difficult issue to think about, but once you decide and include legal guardians in your will, you at least have some comfort filling in the "what if." Read on to learn how to decide who care for children after death. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Challenging </div> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> Choose your spouse, unless divorce or abandonment is an issue. But you must decide on another guardian in case both you and your spouse die or become unable to take care of your children. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> Determine the age and physical abilities of your choice. A legal guardian of a minor must be at least 18-years-old, but you must also consider the limitations of choosing elderly parents or grandparents, who may not be able to care for your children up to adulthood. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> Consider who loves your children and who your children love. Consider whether your choice has your children's best interests at heart and whether you can trust them. </div> </div> <div class="Step"> <div class="StepNumber"> 4</div> <h4> Step Four</h4> <div class="StepContent"> Take into account the financial ability of your choice to raise your children, particularly if you can't provide enough support through your will and assets that remain after your death. </div> </div> <div class="Step"> <div class="StepNumber"> 5</div> <h4> Step Five</h4> <div class="StepContent"> Think about the time it takes to raise children. Factors to consider include heavy job schedules and children of their own. </div> </div> <div class="Step"> <div class="StepNumber"> 6</div> <h4> Step Six</h4> <div class="StepContent"> Give thought to the moral beliefs of your chosen guardians, whether you believe your children would be raised with similar values as you would raise them. </div> </div> <div class="Step"> <div class="StepNumber"> 7</div> <h4> Step Seven</h4> <div class="StepContent"> Discuss with the people you have chosen your wishes to name them as legal guardians. They need time to decide if they can take on this responsibility. </div> </div> </span> <span id="Span1"> <div class="clr"> </div> <h3 class="SubHeader">Tips & Warnings</h3> <ul class="TipsAndWarnings"><li class="lstTip"> If you don't name a legal personal guardian for your kids in your will, anyone can request guardianship in the event of your death. Then the court must decide who cares for your children, without any input from you.</li><li class="lstTip"> Give yourself time to analyze and carefully think over your choices, rather than jumping to an immediately obvious choice.</li></ul> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-51470771194780565422008-01-13T16:44:00.002-08:002008-01-13T16:45:00.669-08:00How to Decide if you need a will, a living will, a living trust or all three.<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> How to Decide if you need a Will, a Living Will, a Living Trust or all three. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Easy </div> <h3 class="SubHeader">Things You'll Need</h3> <ul id="ThingsYouWillNeed" class="List_Arrow"><li>You'll need to read this short article.</li><li>Discuss it with your family members and loved ones.</li><li>Then get to work.</li></ul> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> A Will, a Living Will and Living Trust<br />(Do you need one, two or all three?)<br /><br /><br />To write a will you must first know what a will is, what a will covers and doesn't cover, and what other legal estate planning documents you might want and need. A will, a living will, and a living trust are important legal documents. Every adult American should probably have one of each AND understand what each does. So that you will know the difference between a will, a living will and a living trust, I will briefly describe them and what each is used to accomplish.<br /><br />What is a LIVING TRUST? You can put property into a living trust while you are still alive. When you die, your property automatically goes to your heirs without going through Probate Court, which can be very time consuming as well as expensive. You can revoke a living trust at any time if you change your mind, or simply amend and update it as situations change during your lifetime.<br /><br />What is a LIVING WILL? A living will is a legally binding document that dictates one's wish NOT to be kept alive by artificial life support equipment in the event of a terminal illness or condition. By limiting treatment, a living will sets limits on hospital bills which can drain or even completely wipe out your assets, leaving little in your estate for your heirs.<br /><br />What is a WILL? A will is a legal document that dictates how your property (real property, bank accounts and insurance benefits, etc.) is to be distributed after your death. It may also designate guardians for your children. Your will MUST pass through Probate Court before your estate can be distributed to your heirs. Whether you need a simple or a sophisticated will depends on your assets and you should know your situation well enough to determine if you need professional assistance in writing or filing them.<br /><br />All three of the aforementioned legal documents can work together to satisfy your various estate planning needs. A living trust permits your financial assets to go to your heirs without the time and expense of probate. A will is used to cover all the property not included in the living trust; and remember, without a will the state will determine who gets your remaining property after taxes and fees have been paid.<br /><br />A number of simple legal 'kits' containing fill-in-the-blank sample documents like the ones mentioned above are available at your local library as well as on the Internet. These kits are generally inexpensive and if you have the confidenc </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> Now that you've read this article, show and discuss it with your family members and loved ones. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> Now, do further reasearch if you feel it's necessary either online, at the library or here at e-How; or, see a qualified attorney if you feel your case requires the services of a licensed professional. Ask for referrals from trusted, knowledgable friends or simply do a search of your local telephone directory. </div> </div> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-67402124689134104572008-01-13T16:44:00.001-08:002008-01-13T16:44:40.749-08:00How to Create a Living Will<h1 class="Header"><span style="display: block;" class="opDefaultContent" id="opmodule_body"></span></h1><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> By the time you need a living will, it will be too late to create one. A living will, or advance directive, specifies how your medical treatment should be handled if you are unable to state your wishes yourself. Under the law, a family member will usually have the right to make those decisions if you are incapable, but a living will makes sure that your wishes are met. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Moderately Challenging </div> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> Research the laws that cover living wills, or advance directives, in your state. A good place to start is your state's official website. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> Locate an appropriate living will form for your state. You can also get an advance directive from LegalZoom and fill it out online. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> Specify which treatments you wish to be given or withheld if you are terminally ill or in a vegetative state. A living will can cover artificial resuscitation, artificial respiration, feeding and blood transfusions. </div> </div> <div class="Step"> <div class="StepNumber"> 4</div> <h4> Step Four</h4> <div class="StepContent"> Think about other possible medical events and include these in the living will. You cannot foresee everything, but if you create this document, your family will have a guide to your wishes. </div> </div> <div class="Step"> <div class="StepNumber"> 5</div> <h4> Step Five</h4> <div class="StepContent"> Include the name of someone who is authorized to make medical decisions for you. Include contact details for this person. If no one is specified, doctors will consult with close family members. </div> </div> <div class="Step"> <div class="StepNumber"> 6</div> <h4> Step Six</h4> <div class="StepContent"> Sign and date your living will and get it notarized. If you change your mind and write a new living will, destroy all of the old copies. Keep your living will in a safe place and let your family know where it is. </div> </div> </span> <span id="Span1"> <div class="clr"> </div> <h3 class="SubHeader">Tips & Warnings</h3> <ul class="TipsAndWarnings"><li class="lstTip"> If you don't feel competent to create a living will yourself, hire a lawyer.</li><li class="lstTip"> Some states may only allow living wills to be used for terminally ill or comatose patients.</li></ul> </span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0tag:blogger.com,1999:blog-7034895670158716487.post-24453259459869852542008-01-13T16:43:00.004-08:002008-01-13T16:44:06.234-08:00How to Contest a Will in Canada<span style="display: block;" class="opDefaultContent" id="opmodule_body"><h2 class="Header">Introduction</h2> <span id="intelliTXT"> <div id="Intro"> Things don't always go according to plan. Maybe you got left out of a will or you think the division between the children mentioned in the will is unequal. You may not like the contents of a will or you think someone shouldn't get a gift but there is something you can do about it. Use these tips to contest a will in Canada. </div> </span> <h2 class="Header">Instructions</h2> <div class="Difficulty"> <span>Difficulty:</span> Challenging </div> <h3 class="SubHeader">Things You'll Need</h3> <ul id="ThingsYouWillNeed" class="List_Arrow"><li>Lawyer</li></ul> <span id="intelliTXT"> <h3 class="SubHeader">Steps</h3> <div class="Step"> <div class="StepNumber"> 1</div> <h4> Step One</h4> <div class="StepContent"> Know who or what you are challenging. Be clear about what you don't like about the will. You may be challenging the contents of the will or the estate trustee who is in charge of distributing the contents of the will. </div> </div> <div class="Step"> <div class="StepNumber"> 2</div> <h4> Step Two</h4> <div class="StepContent"> Follow the procedure for removing the estate trustee or challenging the will. You can challenge the proper execution of the will, the testamentary capacity of the person writing the will or claim any suspicious circumstances or fraud with regards to the writing of the will. Follow the specific procedure for each challenge. </div> </div> <div class="Step"> <div class="StepNumber"> 3</div> <h4> Step Three</h4> <div class="StepContent"> Look at your rights under the Family Law Act and The Succession Law Reform Act. Make sure you look at up-to-date laws because laws change. </div> </div> <div class="Step"> <div class="StepNumber"> 4</div> <h4> Step Four</h4> <div class="StepContent"> Read the Family Law Act if you are a spouse who has not been treated fairly in a will. You may be able to have your portion of the will set aside and take what you would be entitled to under the Family Law Act. There is a formula used to determine this amount; it's not 50/50. Your property before your marriage is calculated and so is any inheritance. Also, spouses cannot be disinherited. </div> </div> <div class="Step"> <div class="StepNumber"> 5</div> <h4> Step Five</h4> <div class="StepContent"> Review the Succession Law Reform Act if you are a dependent person. Certain persons can make a claim for dependent relief if they are dependent on someone for certain types of support. Dependents can't be cut out of a will. They can apply to the court for support but it must be done in a certain time frame. </div> </div> <div class="Step"> <div class="StepNumber"> 6</div> <h4> Step Six</h4> <div class="StepContent"> See a lawyer or paralegal who specializes in wills and estates. Each person with a concern should retain independent legal council. You should not be advised by the executor or testator's lawyers. </div> </div> <div class="Step"> <div class="StepNumber"> 7</div> <h4> Step Seven</h4> <div class="StepContent"> Ask for the estate trustee to be removed by applying for an order to revoke the Certificate of Appointment of Estate Trustee. You will also need a Certificate of Application of Estate Trustee During Litigation. Get a lawyer to help you follow the necessary procedure and to get you all the papers that you need. </div> </div> <div class="Step"> <div class="StepNumber"> 8</div> <h4> Step Eight</h4> <div class="StepContent"> Challenge a will on the basis of Testamentary Capacity if you feel the writer of the will is of unsound mind. It is your job to prove unsound mind, not theirs. You may need to go to trial to prove this and it is difficult. The court looks at whether testators understood the will they wrote, what they were doing, what assets are included, who they are obligated to support and how the estate will be distributed. You could try to prove that the testator of the will did not understand what he or she signed. </div> </div> <div class="Step"> <div class="StepNumber"> 9</div> <h4> Step Nine</h4> <div class="StepContent"> Consult a lawyer if you think someone was coerced into writing a will a certain way. You can claim undue influence or duress in this case. This may also be your claim if the person who wrote the will took a friend with them. </div> </div> </span> <span id="Span1"> <div class="clr"> </div> <h3 class="SubHeader">Tips & Warnings</h3> <ul class="TipsAndWarnings"><li class="lstTip"> Be very clear about what you are contesting and follow the specific procedure for what you are contesting.</li><li class="lstWarning"> You can't disinherit certain family members like spouses or some dependents.</li><li class="lstWarning"> There are time limits to contesting wills and electing to receive their share in lieu of the will.</li><li class="lstWarning"> A successfully contested will might not be thrown out. A portion of the will may be kept.</li></ul> </span></span>KuralSizhttp://www.blogger.com/profile/11005292053638643391noreply@blogger.com0