Blog Posts from Estate Planning & Probate
Oct 25, 2019
This week is National Estate Planning Week. Estate planning is important every week to estate planning attorneys, but this one week is set aside so we can remind folks to make sure you have an estate plan and if you have one that it is up to date.
Aug 08, 2019
Have you been designated as a Personal Representative or Executor? Attorney Elizabeth Brown breaks down all of the responsibilities that come with being named the Personal Representative or Executor to someone's Will.
Aug 08, 2019
One of the most common misconceptions about estate planning that I run into is the belief that having a Will allows your estate to avoid probate. That is not the case. When an asset passes to others according to the terms of a Will, it has to go through the probate process.
Jun 28, 2019
Succession planning is arguably the most critical issue a small business or a family business will face. In this blog post Elizabeth Brown outlines the the formula for a succession plan that protects your business and your family.
Jun 27, 2019
Vermont Department of Taxes imposes an estate tax on the transfer of Vermont estates of decedents dying while a resident of Vermont. Currently, Vermont law provides for a $2,750,000 exemption from an estate tax.
Jun 05, 2019
Congratulations! Your child just turned 18, they are an "adult" now, or at least in the eyes of the law. Don't let them leave the nest without asking them to sign two critical estate planning documents.
Mar 15, 2019
Elizabeth Brown, Esq. is scheduled to present at the annual Wealth Counsel Symposium in Boston, MA. Her presentation titled, Adding Business Planning to an Estate Planning Practice, will take place on Wednesday, July 31 from 9:15 am - 10:15 am.
Feb 19, 2019
The protection a limited liability company ("LLC") is called the "corporate veil." This article will address ways to make the veil more difficult to pierce.
Feb 04, 2019
One option for the transfer of vacation home real estate is the use of Limited Liability Companies (“LLCs”). LLCs are quickly becoming the preferred entity for vacation homes because membership interests in an LLC are easily transferrable outside of probate, and LLCs provide for flexible operating agreements that allow for the parties to define individual’s financial duties, access, and responsibilities for the property. Unlike joint ownership that leaves all of these issues up to the individual owners to figure out on their own, an LLC allows the parents or the first generation of owners to decide how the property should be managed.
Jan 23, 2019
A Revocable Living Trust is a legal document often used as an integral part of an estate plan. A Revocable Trust is a document (the “Trust Agreement”) created by a person to manage assets during their lifetime and distribute the remaining assets after their death. A Revocable Trust allows for the person creating the Trust Agreement to manage the Trust, to receive benefits from the Trust, and to change the terms of the trust or evoke it.