by Eileen Kerlin Walsh | Nov 7, 2024 | Blog, Common Questions, Estate Planning, Kerlin Walsh Law, News, Wills & Trusts
Many estate plans incorporate irrevocable dynasty trusts, which can offer benefits such as tax minimization and asset protection. The benefits of these types of trusts continue for a surviving spouse’s lifetime and several future generations. The actual duration of...
by Eileen Kerlin Walsh | Nov 7, 2024 | Blog, Common Questions, Estate Planning, Healthcare Decisions, Kerlin Walsh Law, News, Wills & Trusts
We know it is difficult, even horrific, to imagine someone else raising your children. However, you must consider who you would choose to fill this important role. Otherwise, a judge—a stranger who does not know you or your wishes, your child, or your relatives and...
by Eileen Kerlin Walsh | Nov 7, 2024 | Blog, Common Questions, Estate Planning, Kerlin Walsh Law, News, Power of Attorney, Wills & Trusts
While the term fiduciary is a legal term with a rich history, it generally means someone who is legally obligated to act in another person’s best interest. Trustees, executors, and agents are examples of fiduciaries. When your client selects people to fill these roles...
by Eileen Kerlin Walsh | Nov 7, 2024 | Blog, Common Questions, Estate Planning, Kerlin Walsh Law, News, Wills & Trusts
When a trust is established, a person is nominated to be the trustee. If your client is creating a revocable living trust, they will likely be the initial trustee. They will also want to name successors or backup trustees to step in and manage the trust’s affairs if...
by Eileen Kerlin Walsh | Nov 7, 2024 | Blog, Common Questions, Estate Planning, Healthcare Decisions, Kerlin Walsh Law, News, Wills & Trusts
Every day we make hundreds of decisions for ourselves—from what to eat for breakfast to where to vacation. However, what happens if your client cannot make decisions for themselves? Who would they want making day-to-day decisions on their behalf and serving as their...
by Eileen Kerlin Walsh | Oct 1, 2024 | Blog, Common Questions, Estate Planning, Healthcare Decisions, Kerlin Walsh Law, News, Wills & Trusts
People often set up bank accounts or real estate so that they own them jointly with a spouse or other family member. The appeal of joint ownership, specifically with survivorship rights, is that when one owner dies, the other owner(s) will automatically inherit the...
