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Revocable vs. Irrevocable Trust: What’s the Difference?

Advantages and disadvantages of revocable vs irrevocable trusts.

Trusts come in two main categories: revocable and irrevocable trusts. Choosing which one is right for you can be one of the most important decisions of your life, but you can’t possibly be expected to make this decision without a proper understanding of what the difference is between the two. That’s why we’ve created this quick guide which compares the difference between the two types of trusts so that you can be confident in your decision as to which one is best for you. What is a Trust? A trust is a financial agreement between three people: the trustor, the trustee, and...

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Aretha Franklin Dies Without a Will – So What Happens Now?

The world was shocked when we heard the news that The Queen of Soul, Aretha Franklin, passed away. While this is heartbreaking on its own, many people are unaware that she died without ever having created a will. You may think that having a will is only for the rich, someone with children, or a successful business owner, but wills are for everyone. So, what happens if you die without having a will? It all depends on where you live and what your family looks like. So what happens exactly? The State Controls Your Money When you die without a will, you have...

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What Can an Elder Law Attorney Do For You?

What elder law attorneys can do for you by The Siegel Law Group

Whether you’re 9 years old or 90 years old, you’re going to need experienced legal advice at some point in your life. While younger people may need an attorney for a variety of reasons, elder adults tend to need legal advice in regards to estate planning, health care considerations, and issues affecting Social Security and Medicaid, to name a few. Elder adults often need legal counsel for a variety of issues relating to their stage in life. That’s where an elder law attorney comes in! Elder law attorneys are equipped with experience in a multitude of legal practices, however, not all...

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How to Choose an Elder Law Attorney

Siegel Law Group will help you choose the best elder law attorney.

Although many resources allow us to find the elder law attorneys we need quickly and efficiently, sometimes finding the right one to fit your needs takes more work. Barry D. Seigel, Esq. offers the following guidelines to help you find an elder law attorney who is knowledgeable, personable, and within budget. Determine What Kind of Lawyer You Need Often, people underestimate the degree to which lawyers can specialize in a specific field or topic. Elder law is a broad term that covers the many legal and financial issues that affect elders and their family members, including the following: wills, trusts, surrogate decision-making...

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Will Your Estate Plan Work The Way It Should?

Will Your Estate Plan Work The Way It Should? From the Siegel Law Group in Boca Raton

At Siegel Law Group, we understand that estate planning is a process that takes careful thought and consideration. Our team of experts can help ensure that your estate plan works the way it should. Using strategic long-term thinking, the estate planning process can be taken care of seamlessly. Put your trust in the right legal hands. Funding Asset titles must be changed so that the signed estate planning documents can control them to complete the estate planning process. Retitling your assets is known as funding. Funding your trust involves changing the title to assets which may be owned individually, in joint tenancy,...

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What’s New for Business Owners in the New Tax Law

What’s New for Business Owners in the New Tax Law

What’s New For Business Owners In The New Tax Law?   Here at Siegel Law, we know you have a lot of questions about how this new tax law may affect you and your business. Luckily we’re here to help navigate you through this and ensure you have a full understanding of what's going on. We want to help you determine whether the new section 199A deduction will be available to you. With careful planning and you may be eligible for some financial benefits under this new law. Eligibility The new deduction will begin in 2018 and is available to qualified business and trade...

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Does The Deed to Your Home Agree With The Distributions in Your Will?

Owning a home can be one of your most valuable assets. It is important for homeowners to understand when they buy their house how a Deed impacts the title and ownership and to whom their house passes. Joint Tenants with right of survivorship or Tenants in Common are two common titles that could appear on a Deed, each having its own meaning. Joint Tenancy with right of survivorship states that if you own the house with another person and one of you predeceases the other, the survivor will take full ownership. A Deed titled as Joint Tenancy will take precedence over...

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5 Estate Planning Myths

There are many myths out there about estate planning and this article will address 5 of them. It is important to recognize that falling victim to any of these misconceptions could leave your family in disarray. Planning ahead will save you and your family lots of wasted time, money, and resources. Myth #1 - Having a Will avoids probate. Often clients believe that because they have a Will that their Estate will not have to be probated upon their passing. In actuality, having a Will is a ticket to the probate court. Plain and simple—any time someone has a Will, it...

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Travel plans? Have an Estate Plan in Place Before Leaving Town

girl looking out plane window

With the Summer months upon us and children soon to be out of school, families will be traveling and vacationing more frequently. Vacationing is a time we are meant to enjoy ourselves while leaving the stresses of every-day life behind. With that said, the liberty of traveling puts in mind that we need to be cautious and aware of our surroundings in new and unfamiliar places. Transportation accidents, health risks, unexpected weather, crime, emergencies or terrorism are just some factors to consider. We get reminded we are only human and uncertainty awaits us. As an Attorney practicing in estate planning...

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Living Will vs. DNR

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Often-times, clients get confused and are not aware that a Florida Living Will, commonly called an “Advanced Directive” is not the same document as a “Do Not Resuscitate Order” (DNR). Nor, is a Living Will the same document as a Will. A Florida Living Will is used for health and a Will is used for money. While the Florida Living Will and the DNR are both health related documents, the Florida Living Will and DNR are not necessarily interchangeable. Clients believe if they have one document filled out, they do not need to worry about the other, but it is...

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