Author Archives: Jay Butchko
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 »
Benefits And Uses Of A Durable Power Of Attorney
Not all of estate planning is planning for the event that you pass away. That’s why it’s called estate planning, and not death planning. It’s a way to plan for, and take care of your estate, even when you are still here. And one of the most important tools in an estate planning arsenal,… Read More »
What Evidence Is Needed To Challenge A Will Or Estate Plan?
If an estate plan is drafted properly, and with enough advanced notice, in an ideal world, there is no reason to challenge an estate in probate court. But inheritances bring up personal issues and it is often the case that people do challenge someone’s will or larger estate plan. What are the Allegations? When… Read More »
Don’t Put These Things In A Living Trust
Living trusts, which are created when the creator (the testator) is still alive, can be helpful estate planning vehicles. Many people prefer them because they are created when the testator is still alive, thus giving him or her some control over the trust and the comfort of knowing that it exists. But while it… Read More »
Tips And Hacks For Your Estate Plan
There is no one comprehensive list of things you should or shouldn’t do when it comes to estate planning. Everybody’s situation is different, and there is just a lot more to good estate planning that can be put into any one list. Still, there are some quick tips and tricks, rules of thumb, and… Read More »
Leaving Valuable Collections In Your Estate Plan
Our collections often have a dual purpose. Some of us collect for the value; we know what we are collecting will increase in value, and we know that amassing volumes of that item can lead to a good sum of money down the road. Others collect just because we have a personal interest in… Read More »