Blog

Many believe that once they set up and fund a revocable living trust, property held in the trust will completely avoid federal estate taxes after they die. In reality, a living trust does not provide unique estate tax avoidance strategies, but working with an estate planning law group can help you maximize tax efficiency within your trust-based plan.
Read More »

In an estate plan, life insurance can be used as a source of immediate liquidity for beneficiaries by offering a tax-free, lump-sum payment upon the insured’s death. Life insurance is a key part of estate planning services, ensuring financial stability for your loved ones after you pass.
Read More »

You have meticulously created your estate plan to ensure that it includes and addresses all of your most im-portant assets (accounts and property). You have reviewed your asset list repeatedly, and everything seems to be accounted for. But what if you have forgotten something?
Read More »

You regularly check the balances of your retirement, bank, and investment accounts. But when was the last time you checked the beneficiary designations on these accounts (and, really, all the other accounts that allow you to name a beneficiary)? An estate planning attorney can help ensure these designations align with your long-term goals.
Read More »

Many individuals choose to hold bank accounts or real estate jointly with a spouse or a family member. The appeal of joint property ownership, specifically with survivorship rights, is that when one owner dies, the oth-er owner(s) will inherit the property without it having to go through probate. Also, joint property ownership is easy to set up. It can be established at the bank when opening an account, through the title company when buying real estate, or, in some cases, after creating an account or purchasing real estate.
Read More »

If you have overheard any estate planning for minors discussions, you have likely heard the words “guardian” or “trustee.” In estate planning, deciding who will ultimately be tasked with caring for your minor child or managing funds for their benefit is an important decision that requires consideration of many factors. Pavone Law Group specializes in helping families navigate these choices with confidence.
Read More »

One common way to avoid the probate requirement for real estate after the owner dies is to add children or oth-er individuals to the property title as joint owners with rights of survivorship. When joint owners have survivorship rights, and one joint owner passes away, the remaining owners automatically receive the entire interest of the deceased owner.
Read More »

You have two primary options for leaving an inheritance to a child. The most straightforward is to give it to them in a single lump sum, with no strings attached. But this might not be the best option for some children. You may be concerned about the child’s ability to handle the money responsibly, fear they will spend it in pursuit of a cause you do not support, want to avoid the need for a court-ordered conservatorship to manage the funds if the children are minors, or have some other reason for wanting to set conditions on their inheritance.
Read More »

While the term fiduciary is a legal term with an extensive history, it typically means someone who is legally obligated to act in another person’s best interest. Trustees, executors, and agents are examples of fiduciaries.
Read More »

A special needs trust (SNT) allows an individual to provide for a disabled beneficiary without jeopardizing the beneficiary’s eligibility for needs-based government benefits.
Read More »