Tag: Estate Law
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When Parents Won’t Let Go: Micromanaging Homes in Family Trusts
Family trusts can be helpful estate planning tools. A trust can protect a household’s assets, and effectively pass wealth along to family members. Those who receive income or assets from a family trust are called beneficiaries. But some of the people who are supposed to benefit may not entirely appreciate the gesture. They might resent…
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Moving to a Community Property State? Here’s What Couples Should Know
You might have heard that some states, like Texas or California, have community property laws. You might have wondered what that was all about. A few other states follow community property law, too. They are Arizona, Nevada, and New Mexico, along with Louisiana, Idaho, Washington, and Wisconsin. Considering moving to or from any of those…
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New in New York: Transfer on Death Deeds
In July 2024, the brand-new Transfer on Death Deed Law went into effect in New York State. Residents are now free to create and record a transfer on death deed (also known as the TODD or TOD deed). If you know who you’re leaving your home to, and that person doesn’t already hold rights of…
