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June 19, 2019

A Trustee is someone who holds property in the Trustee’s name for the benefit of another. A Trust is beneficial because, if properly funded, it can help families avoid probate proceedings, which cost time and money. A Trust is created when a Settlor (the person setting...

June 7, 2019

A Personal Representative (“PR”) is someone who is tasked with taking care of and distributing a deceased person’s estate. Five days after the death of the decedent, anyone 21 years of age or older may apply to the District Court in the county of the decedent’s residen...

April 1, 2018

An Advance Health Care Directive allows you to have some control over your medical care after you become incapacitated. Your Directive permits your health care agent to exercise broad or limited authority over your health care treatment based on your wishes.

The person...

March 1, 2018

A Power of Attorney (“POA”) is a legal document that compliments a Will and a Revocable Trust. A POA allows you to appoint another person to handle your finances in the event you become disabled, incapacitated, or otherwise unable to manage your finances. The person yo...

February 1, 2018

A Revocable Trust is an essential part of an estate plan for anyone who owns real estate or has minor children. A Revocable Trust is an agreement between a Settlor (the person setting up the Trust) and a Trustee (the person or entity responsible for carrying out the te...

January 1, 2018

Having a proper estate plan (which includes a Will, Revocable Trust, Durable Power of Attorney, and Advance Health Care Directive) enables you to: (i) have greater control over your assets; (ii) leave behind a plan for your loved ones to follow; and (iii) reduce your e...

November 26, 2014

The American Taxpayer Relief Act of 2012 signed into law on January 3, 2013 ("ATRA") has dramatically changed the estate planning landscape in the United States. ATRA established a "permanent" federal estate tax exemption of $5 million per person indexed for inflation...

October 14, 2014

Estate planning is not typically on the mind of couples with young children. However, estate planning for couples with minor children can be even more important than estate planning for empty nesters. With proper estate planning, couples can designate guardians for the...

September 24, 2014

At a foreclosure sale, the senior lien holder is only required to bid the lesser of the fair market value of the debtor's property and the senior's claim against he debtor. There is no requirement that a junior lien holder bid at the trustee's sale. Though the junior w...

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Disclaimer: The information contained within this blog is not a substitute for individual legal, tax, accounting, investment, and/or financial advice. This blog does not create an attorney/client relationship between you and Legacy Law or Nick Anderson. You should not rely on any information in this blog in making decisions without first consulting with one or more qualified professionals. Legacy Law and Nick Anderson do not assume responsibility for any individual's reliance upon any infomation contained in this blog.

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