Author Archives: Jay Butchko
Tips To Help Select An Executor For Your Will
When you make an estate plan, part of that estate plan may be a will. In your will, you will have to pick a personal representative, or what is otherwise known as an executor. But how do you pick the executor? What qualities should you look for in selecting an executor? The Role of… Read More »
Revoking An Irrevocable Trust: Can It Be Done?
While you may not completely understand all the legalities of an irrevocable trust, one thing that many do understand is that an irrevocable trust is, by its name, permanent—irrevocable. But despite that, is it still possible to terminate or revoke an irrevocable trust? Why Irrevocability Matters The law makes it very hard to undo… Read More »
The Role Of Title Insurance In Estate Planning
If you’re leaving real property in your will or otherwise leaving it to others in some other way when you’re gone, you want your beneficiaries to have what you’re leaving to them, free and clear of liens or encumbrances of any kind. You normally don’t worry about this when you buy property, because presumably,… Read More »
Inheriting Stock Or Shares Through A Will Or Trust
If you inherit stock, or shares in a company, you may be elated at the idea of owning something that can go up in value, especially if the shares are valuable. But shares can go up and down in value, and can be held or liquidated, and which of that happens, may depend on… Read More »
Problems Trust Administrators And Trustees Face
Administering a trust isn’t easy. As the administrator or trustee, it’s your job to make sure that the trust is administered the way the creator (testator) wanted them to be. But it’s also about more than that. The trustee or administrator needs to secure the assets to the trust, and makes sure that whatever… Read More »
Using A Beneficiary Controlled Trust In Your Estate Plan
If you’re leaving property to someone else, you may think there are generally two ways to leave property to your chosen beneficiaries. You could leave it in your will. The problem with that is that the beneficiary gets all of it, unconditionally, and immediately, upon your passing, and that may not be exactly what… Read More »
The Benefits Of A QTIP Trust
When you make an estate plan, you understandably want to take care of your spouse and ensure that he or she is provided for. But if you predecease your spouse, you cannot control what happens to your assets that you left to your surviving spouse, after he or she passes away. You could leave… Read More »
Problems If You Don’t Amend Your Estate Plan After A Divorce
You hear this advice often: After a divorce, it’s time to revisit or amend your estate plan. But why? What are the possible issues or problems with an estate plan, after a divorce? What exactly are you looking to change? Property You No Longer Have Many of the changes to an estate plan are… Read More »
Trusts Can Fail. Here’s How It Happens
As long as you create a trust and create it properly, it will do whatever it is that it’s supposed to do. It’s either done correctly or it’s not, but so long as it’s done correctly, it’s done and will operate as you intended it to operate. At least, that’s the common thinking. But… Read More »
Using Guardianships In Your Estate Plan
If you are making an estate plan, your initial thought may be on your stuff—who will get whatever you own, when you are gone. But a good estate plan is about more than just bequeathing your assets and property. It also may be determining who will raise minor children, if you are not able… Read More »