Downs Law Firm, P.C.

Assets

Trust funding

Why Is Trust Funding Important?

If you have updated your estate plan during the Covid crisis and even found a way to sign your documents while maintaining social distance, do not overlook the last step of trust funding.

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Beneficiary form

What Should I Know about Beneficiaries?

When you open a financial account, you’re often asked to name a beneficiary. Simply stated, a beneficiary is someone who is entitled to the benefits of the account on the death of the account holder. For example, if you’ve purchased life insurance, you name a beneficiary who receives the benefits of the policy when you pass away.

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Disinherit

Can I Disinherit Anyone I Want?

So, you’ve decided that a family member won’t be getting an inheritance after all. Maybe you have an ungrateful or irresponsible family member you want to cut out of the will.

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tangible items

How Do Children Divide Mom’s Tangible Property?

One of the biggest challenges for anyone administering an estate is how to distribute what are called its tangible items. Unlike other property which can be easily sold, turned into cash and divided equally, tangible property is unique and often can’t be equally split. Its value also often can’t be measured by what it could be sold for. A family photo album may have no monetary value, for instance, but great sentimental significance.

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elder financial abuse

Elder Financial Abuse Occurs When No One’s Watching

Take, for example, the sad and sordid tax case of Mary Ellen Cranmer Nice vs. United States of America, which would not have existed if an attentive financial advisor hadn’t noticed the large IRA distributions that were allegedly stolen right from under a matriarch’s nose.

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Protecting a Digital Legacy

The world exists just as much online as it does offline. Failing to recognize that when planning for the end of life can lead to unexpected repercussions for survivors.

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