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Five Things to Consider When Selecting a Guardian for Your Child with Special Needs

Wednesday, 06 December 2017 13:42

Family3One of the first questions new clients ask me is how to pick a guardian who can raise their child with special needs or make decisions for her when they are unable to do so. What should they look for? Should they ask a sibling or someone else from their family? Is it better to identify someone who is not a relative, who might be better able to make difficult decisions without letting emotions cloud their thinking? All good questions and exactly the ones you should pose before choosing the person who could be responsible for the wellbeing of your child.

Unfortunately, there’s not a single answer: much depends on the situation, the personalities involved, the “gut feeling” that many parents have about the people they know and trust. There are some basic considerations that can help guide your decision. Here are five:

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Estate Planning for Young Families

Friday, 10 November 2017 09:48

young-familyPeople in their 20s and 30s with young children tend to think it is not necessary to have estate planning documents in place because they do not have a great number of assets to pass along to their children. However, this reasoning is flawed for two main reasons:

 

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Who is the Perfect Fiduciary?

Thursday, 23 February 2017 13:22

 

BestA fiduciary is a broad legal term. Essentially, a fiduciary is a person who is invested with rights and powers to be exercised for the benefit of another person.[1] A fiduciary in the context of this article is an administrator of an estate, a trustee of a trust, a court appointed guardian, or an agent of a power of attorney. Some people are able to easily name a fiduciary, often selecting their spouse or only child. However, other people struggle when there are not enough or too many options from which to choose.

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Avoiding a Wasteful Land Sale Proceeding

Thursday, 19 February 2015 12:00

houseOne of the most overlooked but important reasons for young people to have a basic estate plan is if their main asset is their home. Particularly for young couples with young children at home, the house is generally the largest asset. Almost uniformly, that largest asset is encumbered by a mortgage. If something were to happen to you and your spouse and you didn't have a simple estate plan in place, the person in charge of your estate would likely be forced to sell the home to pay the debts of your estate. While this may not seem like a problem at first glance, if you don't have a last will and testament that specifically authorizes your executor to sell your real property to pay off your debts, your estate will likely have to institute a land sale proceeding in probate court.

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