Friday, April 10, 2009
Welcome
Welcome to my new blog. I'm Jim Knollmiller and I am a senior partner at Brown & Arensofksy, LLP. I will let you read my credentials on the right but only say this so you can have some confidence in some of the topics I write about. Another attorney in my office, Kevin McFadden, will sometimes blog for me. I welcome you and hope to have interesting topics to discuss.
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I know that everyone needs to have a will.
ReplyDeleteI have heard that some people have trusts in addition to their wills. I would like to know when it is necessary to have a trust.
Sorry I missed this comment until now. This requires quite a long answer and I will try to address this is a blog but let me give you a "Cliff Notes" version of my response. The reason you still see a will in a trust estate plan is typically to revoke any prior wills and to "pour-over" any assets that were not titled into the name of the trust, into the trust, after the person's passing. Again, like the power of attorney discussion in today's blog, more of a minor player in an estate plan but still important. On why it is important to have a trust, please see the blog that addresses this very question. Thanks for asking.
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