by Karen Stewart | Dec 21, 2021 | Estate Planning
I often get asked by beneficiaries of a deceased family member’s estate if they are personally responsible for paying off the family member’s debt. The answer is generally “no” but it depends upon the debt and how connected you are to the family member’s finances. As...
by Karen Stewart | Jul 8, 2021 | Estate Planning, Trusts
I received a call the other day from a client who had made her bank account joint with her daughter so that her daughter could access the account on her behalf if needed. My client has a revocable living trust and a durable power of attorney, but chose not to use them...
by Karen Stewart | Apr 29, 2021 | Estate Planning
The name “ladybird deed” allegedly comes from the type of deed used by President Lyndon Johnson to pass property to his wife “Lady Bird” Johnson. These are also often referred to as enhanced life estate deeds. With a ladybird deed, the grantors (owners) give property...
by Karen Stewart | Nov 24, 2020 | Estate Planning
Most of us know it is important to have a Power of Attorney for Health Care, or as I prefer to call it, a Designation of Patient Advocate, to name a person as patient advocate to make our medical decisions in the event we are unable to make them for ourselves. But it...
by Karen Stewart | Sep 29, 2020 | Estate Planning
Traditional estate planning strategies generally are based on the assumption that both spouses are U.S. citizens. However, if you or your spouse is a noncitizen, special rules apply that may require additional planning. Here’s a look at how the rules are different...