Similar Posts
Will Your Kids Fight Over Your Assets When You Are Gone? The Best Predictor Of Future Behavior Is Past Behavior
If your kids never got along while you are alive, what makes you think they will get along when your gone? The old maxim “The best predictor of future behavior is past behavior” should be closely considered by parents who want to maximize the likelihood of a conflict-free transfer of family assets to their children. The risk of future legal conflicts between sibling trust beneficiaries can be managed in estate planning. Every long-term relationship, especially…
The Snail-Paced Trustee; Ten Quick Tips on How to Handle Delayed Distribution of Trust Assets
Living trusts are a popular way to keep the family estate out of an expensive and time consuming probate. These estate planning tools allow the successor trustee to step in and administer the trust estate immediately upon the death or incapacity of the original trustee. But what happens when the successor trustee is not communicating with beneficiaries or distributing the estate? Below are ten tips for the beneficiary confronted by the problem of the trustee…
WELCOME TO ESTATE FRIENDLY NEVADA
Nevada wasn’t the first choice for most early settlors pushing westward. For them the thought of the fertile valleys and more temperate climate on the other side of the Sierra Nevada Mountain Range would have been motivation to keep their wagons rolling across the desolate high desert basins and ranges of Nevada. Now the migration is in reverse for a number of reasons in addition to the unspoiled beauty of the Nevada desert. This includes…
Contract Negotiation Tip 010 | Zen & Contracts
What does Zen have to do with contract drafting and negotiation? The answer is “nothing.” For the student of Zen, achieving a state of mind, empty of thought, unlocks unlimited creative potential. When drafting a complex commercial contract, start with the nothingness of a blank computer screen, as opposed to a one-size-fits-all template. Type out everything you expect to get out of the deal, leading with the ‘must have’ terms. Then build out the proposed…
Contract Negotiation Tip 007 | Dispute Resolution Clauses and the Art of War
The Art of War, written around 500 B.C. by the legendary Chinese General Sun Tzu, has been studied by military commanders for the past 2,500 years. Today Sun Tzu’s strategies are also used by CEOs and their corporate lawyers. It’s wisdom can be applied in contract negotiation to control the terms of engagement should conflict later erupt. Most commercial contracts have a dispute resolution clause. This is where the parties agree how a war will…
The Peace & Comfort of a Good Estate Plan
Think of estate planning as top and bottom bedsheets. You and your assets are tucked comfortably in-between. By understanding estate planning in these metaphoric terms you can make an estate plane that gives you peace of mind . . . and a good night’s sleep. The top sheet can be thought of as covering what happens with your belongings after you pass away. You want a plan that makes certain that your intended heirs receive…