A trust dispute is not an argument over someone or something on which you rely. Rather, trust dispute refers to conflicts over estate planning documents. You (the grantor) can create a trust to protect your assets while you are still alive AND when you pass away. In the trust, you name a specific person, called…
The scenario: a loved one passes away. That person (grantor) had created a trust that specifically outlined who would receive all assets that the grantor owned. If there are individuals who feel they are wronged by the conditions or management of the trust, they can contest the trust. Here are a few reasons why someone…
Welcome to Law Lingo: a monthly blog series brought to you by Brown & Crona, LLC that explains estate planning terminologies in simple terms. This month we will explain liability. Liability can refer to an amount of money that someone owes another person or company. Liability is not limited to money – it can be…
Most people plan for big events in their lives. For weddings, a great deal of attention is given to the location, day, time, flowers, cake, photographer, wedding favors, seating chart and much, much more. For a quinceañera, planning details include the court, escort, dresses, shoes, menu and, again, so much more. These decisions are not…
When most people turn 18, the last thing on their minds is estate planning. There are simply too many other exciting things to think about: college, careers, marriage, home-buying and freedom from parents! However, 18 is the magical age when you become an adult which means you are officially responsible for the course of your…
Although the two may sound very similar, a corporate lawyer is different from a business lawyer. Here is a quick overview of how the two differ and why you might need both types of lawyers for your company. • Corporate lawyer: focuses on the large-scale corporate entity by negotiating and reviewing contracts, overseeing mergers/acquisitions, creating…
When a loved one passes away, his or her estate typically goes through probate. This is a legal process that may be necessary for people who have created a will or for those who have not created a will. NOTE: If you want to help your loved ones avoid probate after you pass away, you…
Welcome to Law Lingo: a monthly blog series brought to you by Brown & Crona, LLC that explains estate planning terminologies in simple terms. This month we will explain limited liability company (LLC). If you are planning to start a business, it is advisable to create a business entity such as a sole proprietorship, corporation,…
A trust is a legal method to transfer your assets to another person or persons (trustees) who are responsible for holding your assets on behalf of your beneficiaries. You can also name yourself as the trustee of your trust and maintain complete control over your assets. Revocable living trusts are often recommended because they can…
Welcome to Law Lingo: a monthly blog series brought to you by Brown & Crona, LLC that explains estate planning terminologies in simple terms. This month we will explain estate law. Estate law may sound like something that would only apply to the rich and famous – or something that only older people would need…
