Our Blog

Nancy Burner, Esq. discusses the importance of anticipating issues such as divorce when engaging in estate planning.

There is no such thing as a honeymooner’s will, but maybe there should be. Once the honeymoon is over, the dress put away, and every conceivable photograph posted to social media, it is time to start considering the legal implications of getting married.

Question: My mother owns her home and is considering putting it into an irrevocable trust. She is concerned that if in the future she wanted to take a Reverse Mortgage on the property, she would not be able because the house is owned by a trust, is that correct?

Question: I am a 72 year old widow. I own my house and have an IRA but have very little in cash assets, do I need a trust?

Generation Skipping Transfer Tax (GSTT) is the tax imposed on transfers made to grandchildren, or individuals (other than a spouse) who are at least 37 ½ years younger than the donor of the gift. GSTT sounds complicated, and can be complicated, but the concept is simple.

Any divorce, regardless of the amount of assets of the couple, involves changes to the legal status between two individuals that will have a natural effect on your estate plan. Meeting with your estate planning attorney and having that attorney coordinate with your matrimonial attorney can prepare you for the most positive outcome.

Many people choose to invest in a life insurance policy. Some choose to purchase a term life insurance policy wherein the insured pays a premium for a period of years and if he or she passes away during that period of time, the policy will pay out to the designated beneficiaries, while others purchase whole life insurance which works more like an investment product and has a guaranteed payout no matter the insured’s age.

A credit shelter trust (CST) is an estate planning tool used for married couples to help reduce, if not eliminate, estate tax due at the death of the surviving spouse.

Whenever I hear someone say they wrote their own Last Will and Testament, a familiar phrase comes to mind, “Don’t try this at home!” Unless you are an experienced estate planning attorney, it is not a good idea to write your own Will, or to order a Will off a generic, non-state specific website.

Estate planning is just as vital for the single person as it is for a married couple. A comprehensive estate plan details how assets will be distributed upon death and also sets forth a strategy for incapacity.