Estate Planning & Elder Law Blog
DEAR JONATHAN: My husband passed away six months ago. We didn’t have much but everything we had we held in joint names. Consequently, upon the advice of a family member, we never bothered to prepare wills because we were told that the survivor of the two of us would own everything, so there was no need to have a will. Now that my husband is gone, do you recommend that I now have a will?
JONATHAN: I am very sorry for your loss.
Following your family member’s advice, while technically correct, could have been disastrous for you and your husband if you had both died in a common accident or if you had ...
Dear Jonathan: I recently prepared a trust that includes very specific provisions regarding the beneficiaries that I want to receive certain assets when I die. Does my trust override who I named as my beneficiaries in the will I prepared several years ago and the beneficiary that I named to receive the proceeds from my life insurance policy and inherit my retirement accounts?
Jonathan: No, and your question is a very good one. Beneficiaries can be named in a will, a trust or pursuant to a beneficiary designation. Failure to properly coordinate the naming of your beneficiaries in those ...
