Author Archives: Jay Butchko
What Happens To Child Support When A Paying Spouse Dies?
You may already know that should your estate have to go through the court probate process, that the Probate court will handle matters related to your estate. One of those things are creditors. People and creditors who feel that the deceased owed them money, can make claims on the state, to get some of… Read More »
How And Why Irrevocable Trusts Avoid Creditors
Although estate planning is not, by itself, an asset protection tool, creditors can and do come after property that is let to others in wills and trusts. That means that when creating an estate plan, you want to do whatever you can, to make sure that your estate and the property you are leaving… Read More »
Unmarried And Cohabitating? Here’s What To Remember When Estate Planning
Living with someone but not married? You’re not alone. Long term cohabitation of couples is common nowadays. And no, you don’t have to get married. But if you opt not to, you may have some estate planning considerations, because even though you may say “it’s just like we’re married,” the law doesn’t see it… Read More »
Considerations And Issues With Jewelry In Your Estate Plan
A large part of the value of someone’s estate, may well be their jewelry. But jewelry can actually present some problems when it comes to wills, trusts, and estate plans—problems that can be avoided, with proper advanced planning. How Much is it Worth? Jewelry is personal property, and it can be left to whomever… Read More »
Houses And Kids: Two Things Millennials Need To Plan For
So you’re a millennial, and because of that, you figure estate planning isn’t for you. Leave estate planning to older people or richer people. But if you’re a millennial, you could have two things that make estate planning an important thing in your life: a new home, young kids…or both. Probate With a Home… Read More »
How And When To Use Class Gifts In Your Estate Plan
When we think of leaving property or assets to our loved ones in our estate plan, we probably just think of naming them individually. And that’s OK. But there are times when naming people specifically isn’t possible, or when it may be impossible to know who you are leaving your property to, and thus,… Read More »
CNN Article Highlights Importance Of Considering Digital Assets In An Estate Plan
As our world has become more digital over the years, so too have our assets been locked up between digital firewalls: passwords and codes to access almost any kind of account. And that creates a problem: even if you leave property to someone, will they ever be able to retrieve that property if it… Read More »
Creditor Claims In Probate: The Basics
One of the goals of good estate planning is to avoid the probate process. But sometimes probate is necessary, and when it is, don’t be surprised if creditors come knocking, asking for their share of whatever was supposed to be inherited by the deceased’s beneficiaries. Secured Creditors One thing to keep in mind is… Read More »
Fairness And Equality: A Pot Trust Can Help With Both
If you have children, or a group of people that you want to plan for in your estate plan, you probably think of leaving your assets to each one individually. But you can also put all of your assets in one place, for all of them. This is called a pot trust, and it… Read More »
Keep Relatives From Fighting Over Your Estate Plan
One of the main goals in creating an estate plan, is to create a plan that minimizes or hopefully eliminates completely, the risk of fighting between your relatives and beneficiaries when you are gone. Contesting wills and trusts between relatives who feel they did not receive what they should have, does happen. But there… Read More »