Wade Law Offices

Have you ever thought about setting up a Trust or a Will and wondered what the differences are between the 2? Check out this short video that we have prepared that explains the differences. You can also call our office at 800-835-2634 to talk more about what makes more sense for your specific situation.

Whether couples are newly married or advanced in age, it is important that they try to engage in end-of-life planning, including keeping their wills current, creating powers of attorney and establishing advance directives for health care. However, many people, upon becoming widows or widowers, discover that while they may have done some things correctly, they may have made some mistakes. [ 720 more words ] https://wadelawcorp.com//estate-planning-to-prepare-for-t/

Few people take the time to arrange in advance for someone else to handle their financial issues when they can no longer fully care for themselves. It's an easy decision to put off, partly because it's emotionally stressful to consider losing our cognitive abilities and independence to financially care for ourselves. Managing our own affairs is something most of us have done for ourselves all our lives, and it's difficult for us to imagine not being able to do so. [ 468 more words ] https://wadelawcorp.com//picking-the-right-successor-trus/

If I transfer title to real property to my living trust, does the #bank have the right to accelerate my mortgage?

Many families are concerned about transferring wealth to their children because they feel the children are unprepared to manage their inheritance. In fact, just one-third of affluent parents have revealed their wealth to their heirs. Notwithstanding, several families have opted to set up trusts to maintain some level of privacy and preserve wealth. Traditionally, trustees have informed trust beneficiaries about trust assets, performance, distribution and taxes. [ 523 more words ] https://wadelawcorp.com//the-advantages-of-establishing-a/

If I establish a revocable living trust, will I lose control over my assets?

Estate Plans Aren’t Just About Avoiding #Probate

Avoiding probate, reducing taxes, providing for heirs, and protecting a family business. These are the more popular reasons that clients share with us when they start talking about why they want to establish an estate plan. However, there are several other less-discussed reasons that might prompt someone to hire an estate planning attorney. These reasons, while personally very important to the person seeking to create the plan, are rarely written down on a new-client intake questionnaire, or voluntarily mentioned during initial planning discussions. [ 595 more words ] https://wadelawcorp.com//estate-plans-arent-just-about-av/

It's common these days for us to get some push back from clients whenever we recommend Revocable Living Trusts (RLT). The resistance stems from the perception that many people have that RLTs are only good as tax-planning tools. With the federal estate tax exemption currently set at $5.49 million per individual and just shy of $11 million per married couple, and the gift exclusion at $14,000 per person, some would argue that the need for estate tax planning for everyone but the extremely wealthy is pretty much done. [ 389 more words ] https://wadelawcorp.com/2017/02/are-living-trusts-necessary/

Is my trust, which has title to my property, immune from lawsuits?

How can an estate plan avoid a conservatorship?

What are disclaimer trusts and A-B trusts?

An intra-family loan is a fundamental estate-planning tool that has a low transaction cost. According to the Internal Revenue Code, you can lend funds to family members at rates that are lower than those charged by commercial lenders without the funds being considered a gift. The lender is generally a parent or grandparent, who is required to charge interest to the borrower. [ 345 more words ] https://wadelawcorp.com//intra-family-loan-as-an-estate-p/