Wills, Trusts & Probate Law Blog - Werner Law Firm

Wills, Trusts & Probate Law Blog

Is Your Estate Plan “Trustworthy"? - Werner Law Firm

Is Your Estate Plan “Trustworthy”?

Most people have the misconception that a trust is a tool or plan reserved for the incredibly rich, built purely for tax avoidance purposes, and irrelevant for most families. Yet trusts can prove incredibly useful for everyday Americans, and may: Help your family avoid probate. Minimize the impact of state estate taxes on modest estates.

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What Exactly Is Modern Estate Planning? - Werner Law Firm

What Exactly Is Modern Estate Planning?

The model of the typical family has been shifting away from the “traditional” setup since the post-war era. From married couples with children (which accounted for about 79 percent of families in 1950, but only 55 percent in 1990), to a combination of heterosexual married couples, single-parent households, same-sex households, cohabitating parents, blended families, multi-generational

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Does Beneficiary Designation Override a Will? - Werner Law Firm

Does Beneficiary Designation Override a Will?

Beneficiary designation exists for vehicles, bank accounts, and smaller properties, but they are most utilized in retirement accounts and life insurance policies. A beneficiary designation provides the basis for an immediate transfer of any assets to that beneficiary upon the original owner’s death. Beneficiary designations bypass the probate process and are subject to unique federal

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Does Right of Survivorship Override a Will? - Werner Law Firm

Does Right of Survivorship Override a Will?

When property belongs to one person, it is generally easy to figure out who owns all the equity, and who decides where ownership over the property will be transferred in the future. But in many cases, property is not owned by a single person or entity. When two or more people own property, that property

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Using a Pour-Over Will in Estate Planning - Werner Law Firm

Using a Pour-Over Will in Estate Planning

A pour-over will is an estate planning document built to ensure that anything in your estate that has not been funded into your living trust before your death is automatically funded into your trust afterwards. Pour-over wills exist to generally to prevent having assets outside of the trust after death. If one is building an

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Options for Small Business Bankruptcy - Werner Law Firm

Options for Small Business Bankruptcy

COVID-19’s impact on the economy has been absolutely devastating. Not only have lockdowns and travel restrictions greatly impacted industries across the country, but for every death, there is an assorted collection of infections with short-term and long-term physical deficits, grieving parents and children, and countless Americans laid off as business owners line-up to file bankruptcy.

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