Estate Planning

SIX STEPS OF TRUST ADMINISTRATION

Most people don’t have a lot of experience handling what happens after their loved one dies and they have been named as the Successor Trustee – in charge of settling their loved one’s Revocable Living Trust. The purpose of this guide is to offer a very general idea of the six steps necessary to settle and then terminate a Revocable Living Trust after the Trustor dies. Step 1 – Inventory The first step in settling a Revocable Living Trust is to…

June 18, 2021 Estate Planning, Helpful Legal Articles, News & Updates, Trust Administration

Do You Have a Pet Trust?

For many pet owners, pets are members of the family. These individuals often say that if something happens to them, they are more concerned with what will happen to their pets than to their children or spouse. This issue of The Wealth Advisor examines the issues surrounding caring for pets after the disability or death of the pet’s owner. Given the feelings of many individuals towards their pets, and the costs of care and longevity of some types of pets,…

May 14, 2021 Estate Planning, Helpful Legal Articles

Estate Planning Benefits in 2021

The unthinkable just might happen, so be prepared. Have a well documented and detailed set of instructions already neatly assembled and in place. Eliminate confusion by planning ahead. Estate planning not only helps avoid multiple state probate proceedings, but eliminates probate altogether. While the probate process remains open for public scutiny, estate planning keeps all asset transfers private. The segregation of assets will be thorough, leaving all questions answered and challenges to the estate nonexistent. Guardianship for minors, or disabled…

March 6, 2021 Estate Planning, Helpful Legal Articles, News & Updates

Avoid the Common IRA Mistakes

Americans hold nearly $15 Trillion in IRA’s and other qualified plans. If you have a retirement plan you have made a series of very wise decisions. Now you must take steps to protect and preserve what you have worked so hard for. Do you want your heirs to have to chase after the IRA money? Better make sure you have an up to date beneficiary form. On January 26, 2009, the United States Supreme Court unanimously ruled in the case…

February 21, 2021 Estate Planning, Helpful Legal Articles

Advance Health Care Directives In The Age of COVID-19

May 2020 by Donald W. Flaig, Esq. The COVID-19 pandemic is at the forefront of all our minds. Much of the news and conversations are about how we can prevent the spread of the virus. While staying home, washing hands, and social distancing are key components to our safety, it is also important to be prepared for the possibility of serious illness that may lead to incapacity - both during this time and even when we have moved beyond this virus. While…

May 27, 2020 Business Law, Estate Planning, Helpful Legal Articles

The Flaig Law Firm is Available to You During This Time

April 2020 by Donald W. Flaig, Esq. As we all navigate a "new normal" due to COVID-19, we would like to update you on how The Flaig Law Firm is handling business and making itself available to you during this time. Our firm is OPEN, WORKING and COMMITTED to doing the right thing for our clients! Currently we are seeing clients in the office for the signing of legal documents only. All other business is telephonic. To ensure our clients safety,…

May 27, 2020 Business Law, Estate Planning, Helpful Legal Articles, News & Updates, Trust Administration

Think Your Handwritten Notes On Your Living Trust Are Valid? Think Again!

Working as a lawyer involves the practical application of abstract legal theories and knowledge to solve specific individualized problems, or to advance the interests of those who hire lawyers to perform legal services. The role of the lawyer varies greatly.

February 24, 2019 Estate Planning, Helpful Legal Articles, Trust Administration

Why Estate Planning is Just as Important if You’re Single

Working as a lawyer involves the practical application of abstract legal theories and knowledge to solve specific individualized problems, or to advance the interests of those who hire lawyers to perform legal services. The role of the lawyer varies greatly.

February 23, 2019 Estate Planning, Helpful Legal Articles, News & Updates

Have you planned for incapacity?

Working as a lawyer involves the practical application of abstract legal theories and knowledge to solve specific individualized problems, or to advance the interests of those who hire lawyers to perform legal services. The role of the lawyer varies greatly.

February 22, 2019 Estate Planning, Helpful Legal Articles