RSSEstate Planning With Christopher Yugo
Q: My dad died several years ago. At the time, my mother didn't do anything to remove my father's name from anything. His name is still on the house, the car and several bank accounts. Mom is getting up there in age, and I think we should tak…
Q: What happens if a child is born after executing a will? Is the new child included?
Q: I set up a trust about 10 years ago. Since then, I have spent down my estate and am unsure whether I should keep the trust for the limited assets I have remaining. My question is should I keep my trust and if so, why? How do I revoke it? C…
Q: What is the difference between a revocable trust and a simple trust? How do you know what type of trust you have?
Q: My partner and I have been living together for almost 10 years. Is there anything special that we need to add to our wills?
Q: What happens if a person named in a will dies before the person making the will does? How is it determined who gets his or her share?
Q: I intend to leave all of my money to two charities but I'm concerned that my children will object. I'm worried they will challenge the will. Is there anything I can do to make sure that my wishes are carried out? Should I name someone othe…
Q: In researching claims, it appears that there are two statutes of limitations that could apply. One is three months and the other is nine months. How do you know which statute of limitations applies?
Q: Can I use a power of attorney to appoint different children to do different things? Does my daughter, who is on my checking account, also have authority over my IRA or can I name another child to take care of that? What about medical decisions?
Q: We have three children all of whom are married. One of our son's wives is nice, but we aren't sure that we trust her. How do we make sure she stays out of our estate plan? Is there anything we can do to make sure she doesn't inherit our property?
Last week I wrote about the importance of planning for your digital assets. If you read last week's column, you know that I feel this area of estate planning is going to become more and more important in the future. As we expand our online id…
I recently received an email from a reader regarding estate planning in a digital age. The reader had seen a news program on planning for digital assets and thought that it was something that I might be interested in. He was right.
Time to catch up on some of the questions that readers have sent in.
Q: I don't have any family members that live close by. How can I find someone to serve as executor? Can the attorney act as executor?
Q: What is the best way to keep my family from fighting over my will? Should I put something to my will that disinherits any family member who causes problems? Should I just leave everything to one person and let him distribute everything?
Q: I have a will that leaves everything to my husband and then to my children. Are my two stepchildren included in the will or do I need to amend it? Will it make a difference if I adopt my stepchildren?
Q: My wife and I have two children. I want to leave everything to her and, if I outlive her, I want everything to be divided equally between my children. Do I really need a will if I want everything to go to my wife and then my kids? Won't th…
Q: We recently lost a family member but we haven’t heard anything about an estate yet. We think we know who the attorney is. Is there any kind of a public search we can use to see if an estate is opened? When is the reading of the will determined?
For almost 12 years, I’ve been writing about basic estate planning.
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Tom Sourlis: Northwest Indiana Business and Industry Hall of Fame
Tom Sourlis is one of the Class of 2013 inductees to the Northwest Indiana Business and Industry Hall of Fame.
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