Wills, Trusts & Probate Law Blog - Werner Law Firm

Wills, Trusts & Probate Law Blog

Where There's a Living Will, There's a Way - Werner Law Firm

Where There’s a Living Will, There’s a Way

Estate plans are typically built to deal with matters of property and wealth after death, ensuring that ownership between generations is transferred as per the decedent’s wishes. But there is more to an estate plan than determining who gets the house and who gets the vinyl collection. Many elements of an estate plan are crucial

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The Role of a Fiduciary in Estate Planning - Werner Law Firm

The Role of a Fiduciary in Estate Planning

Infidelity is the act of betraying someone’s trust. Its opposite is fidelity, which involves loyalty. In the very same linguistic branch, we have “fiduciary”, which describes a relationship of trust and responsibility between two individuals, where one (the fiduciary) is acting as a representative for the other (the principal). In estate planning, the planner, grantor,

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Who Owns the Property in a Life Estate? - Werner Law Firm

Who Owns the Property in a Life Estate?

The hallmark of a life estate is the duration of ownership rights for each who owns the property in a life estate, as well as what those rights are. – A life estate is a form of property ownership that exists to transfer property from one person to another, without burdening that person with the

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What Happens to Assets Left Out of a Living Trust? - Werner Law Firm

What Happens to Assets Left Out of a Living Trust?

A living trust is a unique estate planning tool because it effectively transfers ownership over specified assets and property to someone else through a third party, while giving the original owner a varying degree of control while the assets remain in the third party’s care. This is important in the context of estate planning at

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Before Declaring Bankruptcy, Read This - Werner Law Firm

Before Declaring Bankruptcy, Read This

The process for declaring bankruptcy is a critically important element of our financial system. Giving businesses and people the ability to discharge debts under certain circumstances breathes fresh life into them and earn a second chance in our system. When it comes to financial success, taking risks and hoping for the best is part of

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Estate Plan Updates to Make Pre, During and Post-Divorce - Werner Law Firm

Estate Plan Updates to Make Pre, During and Post-Divorce

Regardless of the outcome, divorce is an arduous process. Even when both individuals end up on amicable terms, the emotional and financial repercussions of divorce are often immense. Given the sensitive nature of the process, it makes sense that something as inconsequential as estate planning is the furthest thing from most people’s minds. However, estate

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