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Can I Name Separate Guardians For My Children?
Absolutely. The easiest part is setting it up legally (naming guardians). The toughest part – and the biggest hindrance to parents to get it done – is WHO to name. If you are divorced and have children from a previous marriage plus have children together – or any number of …
Three Reasons for Having a Living Trust
There are a multitude of reasons to have a living trust. We can’t begin to cover them all, but we will touch on three reasons very briefly here. Reason #1: Protecting Property for Certain Beneficiaries When most of us think about estate planning, we think about passing our property to …
Should you name your kids as Co-Trustees
Naming your kids as co-trustees means that they must act together. If down the road they can’t agree or cooperate in making decisions then there is a deadlock. Absent some way of resolving a deadlock in the trust agreement, eventually this trust will end up in a court dispute between the two co-trustees. Examples of a dispute are where one child want to sell real estate and the other doesn’t. This often occurs where one of the children is still residing in the property.