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WILLS AND TRUSTS NEWS ARTICLES

 
In New York, Woman Guilty of Embezzling Nearly $200,000 of Inheritance Mone...
oag.state.ny.us
Woman who admitted to embezzling nearly two hundred thousand dollars from the Lena Giannotti Trust...
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Beware of Living Trust Scams...
U.S. Attonrney General
The smart consumer needs to explore every option and consider the type of estate planning that's app...
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    DID YOU KNOW ?

    If I Give My Child A Durable Power Of Attorney, Do I Still Need A Will

    A durable power of attorney is a powerful and useful document for allowing someone, known as the attorney-in-fact, to handle your estate during your lifetime.

    The authority of the attorney-in-fact terminates upon your death, however. Therefore, your child would not be able to use the durable power of attorney as authority to distribute your estate.

    Glossary Terms:

    Pot Trust - A trust established for the benefit of minor children which typically remains undivided until the youngest child reaches age 21 (or age 18).

    Charitable Remainder Unitrust - A type of charitable remainder trust requiring payments that are based on a fixed percentage of the net fair market value of the trust's assets be made from the trust to the non-charitable beneficiaries at least annually.

    Charitable Remainder Annuity Trust - A type of charitable remainder trust requiring a specified amount be paid from the trust to the non-charitable income beneficiaries at least annually.

    Talk to our New York Wills Lawyers for these above topic details.

     

     

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