How to Choose an Agency to Set Up a Memorial Fund

Introduction

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.

Instructions

Difficulty: Moderate

Things You'll Need

• Information about the deceased's donation preferences
• Will

Steps

1

Step One

Discuss memorial fund options with your loved one if death is a certainty in the future.

2

Step Two

Review the deceased's will to see if specific instructions were given regarding memorial funds.

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Step Three

Collect information about where the deceased has donated money in the past few years or where money from the estate will be going.

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Step Four

Consider churches at which the deceased was a member.

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Step Five

Consider organization fighting the disease causing the deceased's death, if that is the case.

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Step Six

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.

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Step Seven

Talk with other friends and family members of the deceased for input about where the money should go.

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Step Eight

Choose the organizations that most need the money or that were most dear to the deceased.

How to Make an Irrevocable Trust

Introduction

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.

Instructions

Difficulty: Moderate

Things You'll Need

• Irrevocable trust forms
• List of assets
• Beneficiaries
• Lawyer
• Notary public

Steps

1

Step One

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.

2

Step Two

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

3

Step Three

Prepare your irrevocable trust to provide for your minor and adult children, grandchildren and any developmentally handicapped heirs.

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Step Four

Take advantage of making an irrevocable trust to exclude unwanted individuals from staking a claim to your estate.

5

Step Five

Study your local, state and county laws governing trusts. You may have to complete state-specific documents when preparing yours.

6

Step Six

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.

7

Step Seven

Verify what must be done to "fund" your trust, including transferring property ownership, deeds and financial accounts.

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Step Eight

Have your documents notarized and/or witnessed and, if necessary, recorded with your local county recorder's office to make them official.

Tips & Warnings

• An irrevocable trust cannot be amended.
• Consult an attorney if you have questions or concerns about making an irrevocable trust.
• 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.

How to Create a Living Trust

Introduction

How can you safeguard the wealth that you've earned and pass it on
to your heirs? One way is to establish a living trust. This financial
arrangement gives someone you choose legal title to your property
during your lifetime. This means he or she--not someone the state
chooses--will take care of your property should you become incapacitated.
Living trusts cost more to create, administer and manage than
wills, but they also avoid probate costs, reduce estate taxes, and set
up long-term property management. Plus they offer more privacy than
wills, keeping your finances out of the courts.

Instructions

Difficulty: Moderate

Steps

1

Step One

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.

2

Step Two

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?

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Step Three

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.

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Step Four

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.

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Step Five

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.

How to Become a Notary in Florida

Introduction

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.

Instructions

Difficulty: Moderately Easy

Steps

1

Step One

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.

2

Step Two

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.

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Step Three

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.

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Step Four

Obtain the necessary tools to conduct business as a notary public in Florida. An inkstamp is required, and a recordbook is recommended.

Tips & Warnings

• 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.
• There are several private companies that will take you through the entire process of becoming a notary in Florida for a fee.
• 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.
• You will be required to pay state application fees. Check with the National Notary Association or the Florida Department of State for more information.
• 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.
• 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.

How to Set Up a Pet Trust

Introduction

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.

Instructions

Difficulty: Moderate

Steps

1

Step One

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.

2

Step Two

Hire an attorney to assist you with setting up the trust.

3

Step Three

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.

4

Step Four

Positively identify your pet in order to prevent fraud with photos and a microchip. Also, you might consider providing DNA samples.

5

Step Five

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.

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Step Six

Provide the name(s) of veterinarians that have treated your dog and require that the trustee ensures the caregiver provides regular veterinary check-ups.

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Step Seven

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.

8

Step Eight

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.

9

Step Nine

Name a beneficiary to receive any remaining funds that are not used by the pet trust.

10

Step Ten

Provide instructions on how to handle your pet’s remains.

Tips & Warnings

• You can designate a portion of the proceeds from your life insurance policy to fund a pet trust.
• 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.
• 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.
• 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)
• 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.
• 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.

How to Know a Family Lawyer is Doing His Job

Introduction

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?

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.

Instructions

Difficulty: Moderate

Things You'll Need

• Access to the Internet or a public library

Steps

1

Step One

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.

2

Step Two

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.

3

Step Three

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.

4

Step Four

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.

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Step Five

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.

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Step Six

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.

7

Step Seven

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.

Tips & Warnings

• 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.
• 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.
• 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.
• 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.

How to Write Your Will

Introduction

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.

Instructions

Difficulty: Moderately Easy

Things You'll Need

• List of assets
• List of debts
• Last wishes

Steps

1

Step One

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.

2

Step Two

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.

3

Step Three

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.

4

Step Four

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.

5

Step Five

See Resources below for links to online will sites.