Archive for the ‘Trust’ Category

Do you have a blended family?

Thursday, February 2nd, 2012

My parents were divorced and my dad remarried a woman who had children, so I come from a ‘blended’ family.  I am also divorced from my children’s father and I’m now married to a man who has children from his first marriage.   All to say that I know what it’s like to live in a ‘blended’ family.

I’ve heard that the schools now have projects to trace your family ‘bush’ instead of your family ‘tree’.  It’s a sign of the times.

But, the laws haven’t quite caught up with society.

A step-child, even if they have been in your household and you have acted as their parent for their entire lives, is not considered your child for inheritance purposes.  And problems can arise when a current spouse and children from a previous relationship all want to take ‘their rightful portion’ of an inheritance.

There are ways to take care of the ones you love by talking to an Estate Planning attorney and making sure that your estate is used the way you want.  This is important for everyone.

It is even more important if you have a blended family.

If you have any questions about this or any other legal subject, please feel free to give us a call at 757-234-4650 or visit our website at http://www.BeaversLaw.com.

Don’t I need a trust?

Saturday, October 31st, 2009

You’ve probably heard that ‘everyone’ needs a trust. And that’s just not true.

The right answer is ‘it depends’.

It depends on what you own. It depends on what you want to do with what you own. It depends on why you might want a trust. It depends on your tax situation.

Anyone can give you a trust document. You can even fill out some fields online and have one printed for you for very little cost.

The big problem with this approach is that you don’t get the advice that you need to make an informed decision. It may be that a trust is just not right for your situation.

That’s why I recommend seeing an attorney and taking the time to explain what you really want. And then the attorney can customize an estate plan to fit your needs and wants.

It may cost a little more now, but it can save a lot later…..in money as well as in confusion and frustration.