The Plain English Attorney Blog
Far too many attorneys overcomplicate things, making topics convoluted and difficult to understand to the average person. This blog is committed to explaining legal planning topics in an easy to understand format, in plain English. Enjoy the blogs, and please let us know if there is a topic you would like covered.
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When it comes to estate planning, what you do with your estate is wide open. However, there are only two heavyweights when it comes to how you pass along your estate. You are either using a Last Will and Testament, or a revocable living trust as the base of your plan. But which one is best?...
Who's on the team? Or more specifically who's on your team? When it comes to your legal and financial picture in the long run, and who is working with you and your family, it takes more than one professional to know, understand, and monitor everything. This is why a new business model is emerging...
Today we're going to talk about a hot topic, and I keep getting questions about this: “Hey, can't we just remotely sign our estate planning documents?”
The simple answer is “no.” In addition to it not being even legal at this time (at least in the State of North Carolina),...
When it comes to estate planning, there’s always more information coming our way. It’s also not just about tax updates or changes to law, but it can often be just better ways to serve our clients through technological advancements and new platforms. While state bar sponsored...
My law firm and other businesses are committed to providing planning education in the areas of estate, financial, and care assistance planning, and we are adding open livestreams through The Plain English Attorney® YouTube channel. Our 2024 kickoff event is Estate Planning 101 where we will...
Gun Trusts are becoming more and more popular, but there are a lot of misconceptions and myths surrounding them. Just as with avoiding probate in estate planning with a revocable living trust, gun trusts attempt to avoid as much red tape as possible during life and after death. Here are just some...
Giving to charities through gifting and estate planning can provide may rewards, and not just a good feeling knowing you are helping others. There are plenty of tax breaks that can come along with being charitable. However, there are also several minefields that can unintentionally hurt you and...
When it comes to estate planning, coordinating ownership title and beneficiary designations with your revocable living trust and the overall plan is essential if you actually want to avoid probate. In this video, Jeff explains the reasoning behind why your revocable living trust should be the...
Probate will cost. A lot. When given the statistics, my clients are usually appalled that their estates going through the probate court system would cost so much. On average, the probate court system will eat up about 4-10% of an estate. Many states allow a standard 5% fee for an executor or...
This question keeps coming up... "Does a trust need a separate taxpayer identification number?" It depends. In general...
* Revocable Living Trusts do not need an EIN/Taxpayer ID if the Trustor(s) are still alive
* Irrevocable Trusts generall DO need a separate EIN
* Hybrid Irrevocable...
