» Last Will and Testament

Irrevocable Vs. Revocable Trusts – A Brief Overview

Craig A. Andreoli — Sat, 06 Nov 2010 18:41:38 +0000

3 Brief Trust Blogs – #2

Craig A. Andreoli — Wed, 06 Oct 2010 01:05:28 +0000

A Revocable Trust is not a good tool for Medicaid Planning. Medicaid is a form of creditor. Creditors can lien assets that are in control or owned by the Debtor. A Revocable Trust allows the Creator of the Trust to have absolute control over the Trust assets. They are free to revoke the Trust, withdraw assets and manage the funds (Usually by being the Trustee and Beneficiary). For this reason, a Revocable Trust is not useful for Medicaid Planning because the Trust property remains in the Creator’s control. A better reason to establish a Revocable Trust would be to avoid probate, preserve privacy, deter a contest or entrust asset management in the event the Creator becomes incapacitated.

If you wish to learn more about Trusts, think about attending this seminar on October 19^th. Seminar Info

Summer “Will” be Fun

Craig A. Andreoli — Tue, 20 Jul 2010 22:21:14 +0000

It’s a humid day in August, and you’re at the beach with your three kids. The scorching sun burns your shoulders; the spray bottle of water is not nearly enough to keep you cool. But as hot as it is outside you refuse to jump in the water because you fear your “still plump from the holidays” physique is not yet ready for the world to see; however, you know deep down that jumping in the cool ocean is inevitable.

In this way, jumping into the ocean is like creating a Last Will and Testament. We know that the time must come to create a Last Will and Testament, although we are never ready to take on the undesirable yet, imperative task.

It is obvious that you have, at one point in your life, heard that creating a Last Will and Testament is crucial, however to many, the reasons are ambiguous. So, to be unmistakable, here are just a few:

1. Protects your children: Having a Will allows you to determine who will be the guardian of your children immediately after death. Without a Will, your children may be reluctantly house-hopping for an extended period of time until an adequate guardian is identified. The ability to designate the guardian of your choice protects your children.

2. Keeps Family Sanity: When you pass away, you may not have given special instructions as to whom should receive your possessions and money. Unfortunately, this typically leads to family conflicts, even in the most stable families. With a Will, you can appoint which assets are passed on, to whom and when, thus avoiding any possible family uproar.

3. Potential Tax Advances: If your assets exceed Estate Tax exemption levels, having the right clauses in your Will and your spouse’s Will can help you avoid unnecessary taxes. Don’t let the IRS be one of you beneficiaries.

Get a Will this summer. It will give you the refreshing feeling of knowing your family will be protected, even if you are not there; so go ahead and take that plunge!

Caring for Babies, Baby Boomers or Both?

Webmaster — Mon, 17 May 2010 00:42:18 +0000

June 10, 2010
10:00 am	to	11:00 am
6:00 pm	to	7:00 pm
June 29, 2010
10:00 am	to	11:00 am
6:00 pm	to	7:00 pm

Spring Into Action

Craig A. Andreoli — Tue, 04 May 2010 17:54:30 +0000

[ May 13, 2010; 10:00 am to 11:00 am. ] Do you have young children? Do you have parents that are relying more on you than you are on them? If you answered yes to either question, you might consider attending this 2 part seminar series. The first part is directed towards protecting your children in the event you or your spouse pass away unexpectedly. Who will care for them? When will they receive your assets? Will money be available for their education? The second seminar will take place in June. It will focus on issues effecting your parents. Where will the money come from in the event they need a nursing home or an aide come to the house. Will their house be protected. Attending may be the best thing you can do for your children and parents!

Legal Humor – Your Beneficiaries

Webmaster — Tue, 13 Apr 2010 03:19:37 +0000

Family Dynamics

Craig A. Andreoli — Fri, 26 Mar 2010 23:02:37 +0000

Family Dynamics

Pictures from “Protect Your Children” Seminar

Craig A. Andreoli — Sat, 06 Mar 2010 22:37:55 +0000

Here are some of the photos from my “How to Protect Your Children Through Proper Estate Planning” seminar. I talked about Will provisions that Families with young children should consider. I also gave some suggestions about what traits make a good Guardian, Trustee and Executor. Sound interesting? No worries if you missed this seminar, I’ll be giving a similar seminar in the near future. Check out the Events Calendar for up coming seminars.

Funny or Sad? Let me know.

Webmaster — Fri, 26 Feb 2010 22:47:37 +0000

Funny or Sad? Let me know.

What Assets Are Governed By The Terms Of A New York State Will?

Craig A. Andreoli — Mon, 18 Jan 2010 22:36:14 +0000

What Assets Are Governed By The Terms Of A New York State Will?

In New York, some of your assets will be distributed pursuant to the terms of your Last Will and Testament and others will not. Typically, a Will only has the legal capacity to distribute assets such as homes, bank accounts and shares of stock that were only in your name, when you passed away. Assets that do not typically pass through a Will include jointly held assets or assets that have a named beneficiary such as life insurance, jointly held bank accounts, retirement accounts, and living trusts. Those types of assets are distributed directly to the named beneficiaries or joint owner without passing through the Will, but are still a part of the taxable estate.