In New Hampshire, trusts are often established as part of the estate planning process to protect loved ones from receiving an outright gift payment and also to add a layer of privacy to an estate plan. If your beneficiaries and your trustee don’t get along, this can foreshadow a lot of problems with the implementation of the trust. The creator of a trust, also known as a grantor or settlor, may want the trustee to Read More
Why Are Beneficiaries Important For Estate Planning Purposes?
You may know that some aspects of your estate may pass outside of probate or your will. These are known as those accounts that have beneficiaries listed on them. It is very important to designate both primary and contingency beneficiaries so that you can feel confident that your estate plans are being followed through and that those people you intend to receive money get it after you pass away. By naming Read More
What Are The Consequences Of A Fiduciary Breach?
When you create a trust, the trustee is also known as a fiduciary. This means he or she has the legal responsibility to career out the terms in the trust and to do what is best for the beneficiaries. If this does not happen, those beneficiaries might be able to file a breach of fiduciary duty lawsuit. Naming any person as a fiduciary in your estate plan, such as a trustee is an important consideration. You should Read More
A Will Versus Trust: What To Know
Most people understand that a will is one of the most important types of estate planning documents. At a simple level, it can accomplish several goals within your estate planning, such as naming a guardian for any minor children and determining what happens to your property. However, it may depend on whether or not you also need a trust in connection with your will. If your estate is under a certain amount, you Read More
What Happens If A Trustee Just Doesn’t Communicate?
Whom you choose to serve in any significant role in your estate or trust administration is very important because this person must communicate clearly with your beneficiaries. When creating a trust and appointing a trustee, you expect that they will live up to their responsibilities and maintain regular communication with beneficiaries. Unfortunately, one of the biggest challenges many beneficiaries report is a Read More
Who Makes for a Good Trustee?
Once you have already done the necessary work with an estate planning lawyer to create a trust, the next important decision to consider is who you will trust to handle your legacy. This is known as appointing the trustee of your trust, and there are several different factors to consider when selecting this person. The first is their versatility to adapt to the changing tax, financial, legal and business climate Read More
How Does a Will Help Direct People?
Your will is essential for ensuring that your wishes are honored once you pass away. Without it, the state determines what happens to your property. Think of your will as an instruction document for directing key people. Most people are familiar with the basic concept of a will. It is used to name not just a guardian for your minor children, but also to name the important people who will serve as your executor or Read More
Hiring an Estate Planning Attorney After Losing a Spouse
Losing a spouse represents a major change in your life. You might need to work with your estate planning lawyer to update all your documents and ensure that your plan aligns with your needs after losing a spouse. If you have not previously worked with an estate planning attorney, it is strongly recommended that you identify one as soon as possible if your spouse has recently passed away. There are many different Read More
Do I Really Need a Last Will and Testament Lawyer in NH?
Do you have specific instructions you'd like to leave behind about what will happen to your belongings if something happens to you? Do you have minor children and want to name a person who will step in as their guardian if you pass away? All of these specific issues can be addressed using a New Hampshire last will and testament. When you consult with an experienced New Hampshire last will and testament attorney, you Read More
What Does Trust Administration Mean?
If you create a trust for the purposes of estate planning, it is equally important to valuate who you intend to appoint as trustee. The trustee is responsible for administering the trust after you pass away. One of the leading reasons for many people to choose to use a trust is because probate is time consuming, public and expensive. Living trusts are another tool to help you maintain privacy and avoid Read More
