When you take the time to start focusing on your estate plan, one thing you should consider is speaking with your children about your plans. If your children are teens, young adults or even older adults, they should understand what your estate plan entails, who is...
Law Office of Kevin A. O’Brien Blog
The strongest means of protecting your child’s inheritance
Whether your children are still young or they already have kids of their own, leaving them a meaningful legacy is probably important to you. You want to know they will have comfort after you pass and also something to remind them of you. Perhaps there are specific,...
Do you need a trust?
As you look into building an estate plan, one question that might come up is if you’d like to put together a trust. There are many different types of trusts to consider, which is something your attorney will discuss with you. Do you need a trust? Yes, in most cases,...
Is your estate plan up to date?
Having an estate plan is important, but it’s equally important to ensure that it’s up to date. Far too many people draft a plan, forget about it, and then let it sit for years or even decades. When they pass away, their family finds that it does not even address their...
When an estate plan should be updated
One of the most common mistakes people in Delaware and around the nation make is crafting their estate plan and never touching it again. Yes, estate plans are created for when you ultimately pass on or are incapable of dealing with your estate. However, that does not...
A trust can be a powerful planning tool, but you must fund it
A number of analogies might reasonably lead off this blog post. A swimming pool generally readied for use but with no water in it, for example. A letter with no stamp. A room only half painted. Just about any imagery that underscores a task or endeavor only half...
Benefits Of Making A Trust
If you’re new to the estate planning process you may know that trusts are one component of an estate plan that you can choose to create, but you may not know what exactly the benefits of a trust are. A trust can strengthen your estate plan and secure your assets, but...
Protecting your loved one’s inheritance through a special needs trust
If your child or grandchild has a disabling condition like down syndrome, autism or cerebral palsy, you know how important it is to provide for them, and you probably want to address their needs in your estate plan. However, providing the funds they need to maintain a...
Choosing your power of attorney
Choosing your power of attorney is an important part of your estate plan. While it may not feel as prominent as your will or trust, it can have a huge impact. Understand what a power of attorney is Power of attorney is someone that you appoint to have authority over...
The good news about estate planning and Delaware taxes
Delaware is known as a tax-friendly state for businesses, which is why so many companies are incorporated here, including some of the world's largest corporations. Besides being a tax haven for businesses, Delaware is also an excellent place to live for people with...