Blog - Page 9 of 39 - Monk Legal

What Is a Revocable Living Trust?

Posted on August 26, 2021

The idea of establishing a trust may be intimidating for some people. Trusts have developed a reputation as only being for the wealthy. The truth is, however, that many people could benefit from establishing a trust as part of their estate plans. There is a wide range of trust types, each of...

What You Need to Know About the Proposed For the 99.5 Percent Act

Posted on July 26, 2021

While you might not necessarily think of estate tax is a hot news topic, it has been recently. This has been, in large part due to the “For the 99.5% Act” that Senator Bernie Sanders proposed on March 25, 2021. The sweeping changes in estate planning law that would be made should this...

What Can Delay the Probate Process?

Posted on July 22, 2021

If you have done any initial investigation into the many benefits of estate planning, you may have read that one of the big potential perks of comprehensive estate planning is that you can put tools in place that help your assets from avoiding probate, in whole or in part. Why is it so...

How to Choose a Personal Representative

Posted on July 19, 2021

The personal representative of an estate has a lengthy list of important tasks to accomplish in probate proceedings. In fact, while probate is the court-supervised process that follows in the wake of a person’s death, the personal representative is instrumental in helping to ensure that probate goes smoothly, that everything needed gets done, and...

What Is the Elective Share?

Posted on June 30, 2021

Have you ever heard of the elective share? While many have not, it can have significant impact on a person’s estate plan. Established in state legislatures across the U.S., elective share laws work to protect the right of a surviving spouse to inherit. Here, we will discuss the elective share in more detail. What...

The Pitfalls of DIY Estate Planning

Posted on June 29, 2021

The Do It Yourself, DIY, craze persists in the U.S. People are engaging in DIY home renovations, DIY life hacks, DIY arts and crafts, and so much more. What about DIY estate planning? You may have seen ads for services that will provide you with estate planning forms where all you need to...

Estate Plan in Place? Where You Should Consider Storing Your Original Documents

Posted on June 28, 2021

Congratulations on checking off a vital task on your to-do list! Estate planning puts legal tools in place that will protect both you and your family. The sense of relief and peace of mind that can come with putting a strong estate plan in place can be great. You may have designed a...

The Benefits of Charitable Giving in Your Estate Plan

Posted on May 28, 2021

Giving back to causes that are important to you may be a priority. If there are charities whose mission you support, providing them with financial resources to continue pursuing their goals can be fulfilling in so many ways. In addition to bringing you joy and a feeling that you are contributing something bigger than...

The Relevance of “Domicile” in Estate Planning

Posted on May 24, 2021

Where do you live? It sounds like a simple enough question, but the more you really dive into it with some people, it can get more complicated than anticipated. With many people owning multiple properties in different states, and sometimes even splitting time evenly between them, what is considered to be the permanent residence...

The Benefits of a Spendthrift Trust

Posted on May 21, 2021

In a family and among loved ones, there can be a range of concerns and issues. Perhaps you have a grandchild who is not good with money. Maybe you have a sibling struggling with an addiction. While we all have our concerns and struggles, you may still want to provide your loved one with...