December 2024 Q: I have established 529 plans for my grandchildren and have purchased life insurance policies on their lives. Is there anything else I need to do? A: Yes! You should do two things. First, since you’re the custodian of the 529 plans and owner of the...
November 2024 Q: Who are all these people mentioned in my documents? A: Allow me to clarify: Fiduciary – person who acts in a position of trust over another person or that person’s assets – everyone below is a particular kind of fiduciary. Trustee – fiduciary...
October 2023. Q: I have a disabled daughter. Do I really need a trust? Can’t I just leave everything to my son to use for his sister? A: Yes, you can do that, but I’m not sure you should do that. If you leave everything to your son to use for his sister without any...
September 2023. Q: Do I need a trust? A: A trust is a bucket to hold money, for someone – a “beneficiary” – that needs the money but can’t have it in their own name. The classic beneficiary is a young child, someone with special needs, or someone consistently making...
By Tim Barkley. June 2019. The lawyer greeted Susan as she entered the office. She waved a large maroon notebook. “I think we might have found the trust. Is that what this is? It’s about a million pages long. We were going through some boxes in the basement...
