Author Archives: Jay Butchko
The Annual Gift Tax Exclusion: A No Strings Attached Way to Help Your Family Members Financially
If you think about your estate plan in enough detail, you will discover that almost anything you do to help the beneficiaries also creates some kind of a burden for them. If you leave them a real estate property, they will have the task of maintaining it; if the house is to be shared… Read More »
Reopening an Estate for Probate After It Has Already Settled
If you enjoy performing the tasks of the personal representative of an estate, you should consider a career as an estate planning lawyer. Most people find the task stressful, even if they knew for years in advance that their parent, spouse, sibling, aunt, or uncle had named them as a personal representative in their… Read More »
Updating Your Estate Plan to Reflect Your Divorce
Some people say that the most difficult time to get divorced is in your 30s. Others hold that age 47 is the most stressful time in your life and, it follows, that getting divorced at that time would only compound the stress. Getting divorced when your children are minors, as is often the case… Read More »
When the Will Conflicts with the Prenuptial Agreement
There is a lot more to prenuptial agreements than what you see in soap operas and on tabloid news websites. Many people who sign prenuptial agreements are not extraordinarily rich, greedy, or stingy. They just have financial entanglements that they do not want their marriage to disturb. In many cases, the prenuptial agreement specifies… Read More »
Selling a House During Probate Is a Hassle, but Most Probate Sales Can Be Avoided
You might have consoled your children, grandchildren, nieces or nephews on the eve of their weddings that few other events in their lives will involve as much stress as wedding planning. In fact, there are a few other major life events that almost always involve prolonged stress, but not very many. Caring for a… Read More »
Disputes Over Wills Signed by People Suffering from Dementia: A Heartbreaking but Preventable Problem
It is good news that people are living longer than ever before; even if they had children late in life, they get to see their grandchildren grow up. It is also good news that seniors of this generation feel that they are never too old to find new love, so late in life marriages… Read More »
Incentive Trust Dos and Don’ts
Do you hate-watch celebrity news videos about the latest misbehavior of the sons, daughters, and grandchildren of stars who made their fortune when you were young? Does the phrase “trust fund baby” make your skin crawl? Are you appalled at the amount of money that the young generation spends on clothes, phones, and educational… Read More »
Revocable Trusts, Divorce, and Your Estate Plan
Setting up a revocable trust is one of the most convenient and most flexible ways that you can keep your assets out of probate. If you and your spouse set up a revocable trust, then you can use as much of the money as you need for yourselves and even pay some of it… Read More »
Is Your Will Out of Date?
As every retiree knows, some things get better with age. Your dad jokes are even funnier now that they are grandpa jokes, and now that collecting vinyl records is back in style, there is no telling which of your other old hobbies will soon get the appreciation that they deserve. Of course, two of… Read More »
What Happens When You Marry the Love of Your Life After Inheriting Money from Your Parents?
Finding true love late in life is a beautiful thing. The previous pain you have experienced, whether it is from divorce, the death of your first spouse, or just many years of loneliness and assuming you would never find your perfect match, makes you appreciate your partner even more. Even if you had a… Read More »
