The Law Offices of Neil J. Cacali Legal Blog
Do you need contingent beneficiaries for your estate?
Deciding who will receive your assets when you pass away is a big part of estate planning. While some of your bequeathments will, no doubt, be handled through your will, you may have to name a beneficiary to receive certain other assets -- like your life insurance...
Avoid probate with these simple estate planning tips
Like every loving parent, you definitely want to pass on a little something to your children or the people you care about. You save to make life a little easier for the people you love. The last thing you want is to have a portion of your hard-earned money going to...
There are two types of child custody
When you and your spouse opt to get a divorce, your first conversation will likely be about the children. Who gets custody? How are you going to make decisions if you can't agree on something? How will you both stay involved in their lives? The general idea of...
Who receives your property if you die without an estate plan?
When you create an estate plan , you will likely detail very carefully whom you want to receive your various assets. Some people will continue to update their plans every few years for the rest of their lives just to make certain that they retain total control over...
Divorce often demands a timely update to your estate plan
Almost everything about your family changes when you divorce, which means that your estate plan needs may also shift. Although probate judges may recognize the inaccuracy of a last will that primarily benefits an ex-spouse, that is not always the case. If you...
Why do you need powers of attorney?
People who are working on their estate plan will usually focus on things like who is going to get specific assets in their will. This is only part of what needs to be addressed in a comprehensive estate plan, however. Setting up plans for what will happen if you...
If you’re a young parent, it’s time for an estate plan
People often think of estate planning as something that is carried out by grandparents and the elderly in general. In fact, one of the main reasons that most people do not have an estate plan is simply that they’re procrastinating until they’re older. Don’t fall into...
Does your property have to go through probate after you pass away?
If you own a home and want to pass it on to your family or other beneficiaries, there are different ways to do so. For example, you might consider a trust or decide to add someone as a joint tenant. Those are both ways to pass on this valuable asset immediately...
Ways parents can use an incentive trust to motivate their children
Job performance reviews are commonplace among professionals as they advance in their careers. Why should it be any different when it comes to trusts? When undergoing estate planning, many parents are uncomfortable with writing a “blank check” without any conditions or...
Does your estate plan still serve you well?
If you have not looked at your estate plan for several years, it may be time to do so. An out-of-date estate plan could lead to several problems, both while you are alive and after you die. You need to ensure your estate plan reflects your life and assets...