If you have a new job, you may want to think about talking to an Overland Park elder law attorney about your financial situation and your future planning. A new job is a time of new beginnings in your life. Maybe you have received a promotion and are earning more income, or maybe the new job offers different benefits than at your old position. An attorney can help you address the financial issues and opportunities your new position creates. Parman & Easterday has extensive experience … [Read more...]
Why a Living Trust Cannot Protect Assets
A Revocable Living Trust is a great estate planning option. It offers a plan for disability, a way to avoid probate and allows you to easily pass belongings to your loved ones. A Living Trust does not, however, offer creditor protection for your assets. If you have assets within a Revocable Living Trust they can be taken by a creditor, for a lawsuit or by a divorcing spouse. There are two aspects of a Living Trust that make it unsafe for asset protection: that it is Revocable and that you … [Read more...]
Does a No Contest Clause Work?
Did you know that you can put a No Contest Clause into your Will, Revocable Trust or Irrevocable Trust? This type of clause is intended as a deterrent to heirs who may contest your estate document. When it works properly, a No Contest Clause will disinherit any heir who challenges your estate document. When to Use It It is not always necessary to use a No Contest Clause, but it doesn’t hurt to include one. You should consider using this clause if you feel a family member may challenge your … [Read more...]
