Most people who make a will have named an executor, also known as a personal representative, to take care of their assets after death. Beneficiaries expect the chosen executor to fulfill their fiduciary duties appropriately with respect to the deceased person and...
Estate Planning
How are stock options handled in estate planning?
On Behalf of Cushing & Dolan, P.C. | Mar 10, 2023 | Estate Planning
As stock options become more popular as part of employee compensation packages, people who aren’t traditionally wealthy must contend with how to deal with them. Stock options require extra care in estate planning. Some can be transferred to heirs; others will need...
Do you need a will as a young adult?
On Behalf of Cushing & Dolan, P.C. | Feb 13, 2023 | Estate Planning
You’re young and still feel like you have the rest of your life ahead of you. The reality is that you probably do. So, why would you need to think about an estate plan? The truth is that all adults should consider estate planning as soon as they can. As a young...
Who pays your debts when you pass away?
On Behalf of Cushing & Dolan, P.C. | Feb 2, 2023 | Estate Planning
There are some common misconceptions about debt at the end of someone’s life. For instance, there are those who believe that debt is just eliminated when someone passes away, as if it no longer existed. There are others who believe that the children and other...
3 reasons to use a trust
On Behalf of Cushing & Dolan, P.C. | Sep 5, 2022 | Estate Planning
As you build your estate plan, you may consider using trusts. These are accounts that you can set up, and then you can use the assets in your estate to fund the account. After you pass away, the trustee takes over and distributes the money in accordance with the...
How estate planning helps to keep the peace after you pass
On Behalf of Cushing & Dolan, P.C. | Mar 21, 2022 | Estate Planning
Have you created a list of who gets your antique grandfather’s clock? Or the silver from your first marriage? If not, you are likely setting your family up for quite a bit of conflict after you pass. The good news is, you can work to keep the peace after you pass, now...
Should I set up a spendthrift trust for my beneficiary?
On Behalf of Cushing & Dolan, P.C. | Mar 2, 2022 | Estate Planning
You have decided to leave $250,000 to your only son upon your passing because you want to ensure that he has what he needs in the future. The only problem is that your son has a gambling addiction and does not make wise financial decisions. The last thing you want to...
Can you disinherit someone?
On Behalf of Cushing & Dolan, P.C. | Feb 16, 2022 | Estate Planning
There are valid reasons to cut someone out of your will. Yet, if you do not do it correctly, they may persuade a court to overrule your wishes. Most kids would expect a share of their parent’s will. If a child gets zero, it's logical they will be upset and may blame...
When can your will be challenged in court?
On Behalf of Cushing & Dolan, P.C. | Feb 9, 2022 | Estate Planning
Death is a taboo topic for most people. Unfortunately, it is a rite of passage for everyone. A will is an estate planning tool that allows you to determine how your estate will be distributed to your beneficiaries upon your demise. If you die without one (intestate),...
Talking to your parents about estate planning during the holidays
On Behalf of Cushing & Dolan, P.C. | Dec 13, 2021 | Estate Planning
Over the years, many sitcoms, memes and jokes have been made about the stress of the holidays. Whether these issues are cooking disasters, family feuds or awkward conversations, the holidays can be a virtual minefield to navigate. Taking advantage of having family...
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