Downs Law Firm, P.C.

Estate Planning

Protect Intellectual Property

Can a Testamentary Trust Protect Your Intellectual Property?

When managing your estate, people often overlook intellectual property (IP). If you are an artist, inventor, or business owner, your IP can be one of your most valuable assets. Incorporating IP into your estate plan is crucial to ensure that it benefits your heirs, primarily through a testamentary trust. However, what is a testamentary trust, and how can it protect your intellectual property? What Is a Testamentary Trust? A testamentary trust is created as part of your will and only takes effect after you pass away. It allows you to name a trustee who will manage the trust’s assets, including…

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life estate deed

What is a Life Estate Deed and How Does it Work?

I am the beneficiary on my father’s life estate deed of his home. He passed in October 2018. I am wanting to sell the house and have not filed a warranty deed to put the house in my name. Also, the life estate deed is via power of attorney because my father had Alzheimer’s and at the time of the preparation of the life estate deed, would not have been considered able to make such a decision.

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no estate planning

Two-Thirds of Americans Have No Estate Planning

Seventy-seven percent of respondents in a recent survey said estate and legacy strategies were important for everyone, not just wealthy individuals, yet only 24% said they had taken the basic step of designating beneficiaries for all of their accounts.

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