You Can Transfer Assets With A Transfer On Death Clause People ask me if they need to put their LLC membership interest into their Trust. The short answer is no, but there may be some advantage to doing so. A transfer on death clause in an LLC operating agreement serves to transfer assets outside of…

Special Power of Appointment A special power of appointment is limited power reserved to someone to do do something with the property in an estate limited by certain predetermined restrictions. For example a special power of appointment in a trust may reserve to the grantor the right to change the distribution plan between the children,…

Power of Appointment A power of appointment is the power reserved to someone to do do something with the property in an estate. For example a power of appointment in a trust reserves to the grantor the right to change the beneficiaries to different beneficiaries. Thus, when exercised, the power of appointment gifts property to…

Notarizing a Will I was asked the question recently, “Must wills be notarized?” The short answer is no, but without the notary a judge may not find them valid later on. Historically, the beneficiaries of a will needed to prove its validity. This proof came in the form of two or more witnesses. Sometimes providing…

Asset Protection, Part 5 I am often asked for legal advice on asset protection topics. Though there are myriads of ways to protect assets, in this series of articles I am discussing my “Top 5 Fundamentals for Asset Protection”. Most of these topics fit for people who have some assets, but some topics fit everyone,…

Asset Protection, Part 4 I am often asked for legal advice on asset protection topics. Though there are myriads of ways to protect assets, in this series of articles I am discussing my “Top 5 Fundamentals for Asset Protection”. Most of these topics fit for people who have some assets, but some topics fit everyone,…

Asset Protection, Part 3 I am often asked for legal advice on asset protection topics. Though there are myriads of ways to protect assets, in this series of articles I am discussing my “Top 5 Fundamentals for Asset Protection”. Most of these topics fit for people who have some assets, but some topics fit everyone,…

Asset Protection, Part 2 I am often asked for legal advice on asset protection topics. Though there are myriads of ways to protect assets, in this series of articles I am discussing my “Top 5 Fundamentals for Asset Protection”. Most of these topics fit for people who have some assets, but some topics fit everyone,…

Asset Protection, Part 1 I am often asked for legal advice on asset protection topics. Though there are myriads of ways to protect assets, in this series of articles I am discussing my “Top 5 Fundamentals for Asset Protection”. Most of these topics fit for people who have some assets, but some topics fit everyone,…

Who Will Care for My Children? Let’s face it, no one wants to think much about what happens to their children if orphaned. Whether we want to think about it or not, children sometimes loose their parents. That scenario brings about sadness and heartache, but there are some things we can do to prepare for…