A trustee is best defined as an individual or individuals who have been named to manage a trust’s assets and carry out the purpose of the trust after you die or are unable to physically do so on your own. Naming a trustee is typically one of the first things you will do when establishing…
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Law Terms – The Ultimate Guide – Updated At Nelson Law Group PC, we believe in educating our clients. Over the last few years, we have regularly published several law terms that you should know. What you will find below is all of those terms in one convenient post. The law topics below cover the…
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Remember when you were younger, and you and your friends would occasionally need to back up each other’s stories to avoid getting into trouble with your parents? It was all a bunch of harmless fun, but because the possibility existed that mom and dad might get upset, you always made sure the story was straight…
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Very early in the estate planning process, you will be asked to select one or several people in your newly-crafted will or trust to pass your assets and other belongings to after you die. This is called a beneficiary, though you may have also heard the term “heir” thrown around. Trust us when we say…
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Let’s say that you and your wife finally got all your estate planning ducks in a row. You met with an attorney, had your questions answered, and when all the dust settled, you had a carefully-crafted last will and testament. But that was several years ago. A few things have changed in your life, and…
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Most people have a basic understanding of what a Power of Attorney is. This critical legal document allows you to give a friend, family member, or third party the authority to make decisions and take certain actions on your behalf should you become incapacitated or cannot be present to conduct business for yourself. The POA…
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A question that our estate planning attorneys get asked a lot is, “what’s the difference between an executor and an administrator?” It’s understandable to see so much confusion over these two terms. After all, both generally perform similar duties. Below is a brief breakdown of the difference between an executor and an administrator. Executor vs.…
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When it comes to estate planning, most people have a general idea of what a trust is and what it can do for them and their family. Essentially, having a carefully-crafted trust in place allows for the legal transfer of your property and assets to a trustee, who then manages the property for the trust’s…
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When you want to pass your assets and other belongings onto someone else after you die, you decide on what is called a beneficiary. A beneficiary is someone you name in legal documents, such as a will or trust, life insurance policy, bank accounts, and even retirement accounts like IRAs and a 401(k). Choosing a…
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The reason I became a family law attorney was to help people and provide value. It is a rewarding experience when you can step into a difficult situation and walk a family through it, answer their questions, be the voice of reason, and achieve for them the best possible outcome. And I’m not the only…
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