Trusts – Hardy Law Firm

What Is a Special Needs Trust?

Kevin Hardy — Tue, 06 Dec 2022 19:26:39 +0000

Special needs trusts allow a disabled beneficiary to receive inheritances, gifts, lawsuit settlements, or other funds and yet not lose her eligibility for certain government programs.

Preserving the Family Vacation Home for Generations to Come

Kevin Hardy — Thu, 19 Aug 2021 17:41:08 +0000

Summer is winding down and if you are one of the lucky ones, you got to spend some time at a family vacation home. How do you make sure your children and grandchildren can enjoy that second home as much as you did?

What Is a Directed Trust and What Are Its Benefits?

Kevin Hardy — Mon, 09 Aug 2021 17:07:43 +0000

Directed trusts can be a useful estate planning tool, allowing you to place your family’s assets in a trust but benefit from the expertise of an advisor who knows more about the handling of certain trust functions than you may.

Be Careful Not to Name Minors as Your Beneficiaries

Kevin Hardy — Mon, 02 Aug 2021 15:22:17 +0000

Most people want to pass their assets to their children or grandchildren, but naming a minor as a beneficiary can have unintended consequences. It is important to make a plan that doesn’t involve leaving assets directly to a minor.

How to Protect an IRA From Heirs’ Creditors

Kevin Hardy — Mon, 02 Aug 2021 14:57:54 +0000

When a person declares bankruptcy, an individual retirement account (IRA) is one of the assets that is beyond the reach of creditors, but what about an IRA that has been inherited?

Probate v. Non-Probate: What Is the Difference?

Kevin Hardy — Tue, 06 Jul 2021 15:28:50 +0000

When planning your estate it is important to understand the difference between probate and non-probate assets.

The Five Components of a Good Estate Plan

Kevin Hardy — Tue, 06 Jul 2021 14:58:42 +0000

Many people believe that if they have a will, their estate planning is complete, but there is much more to a solid estate plan. A good plan should be designed to avoid probate, save on estate taxes, protect assets if you need to move into a nursing home, and appoint someone to act for you if you become disabled.

What Happens to Your Online Content When You Die?

Kevin Hardy — Thu, 01 Jul 2021 14:39:47 +0000

More and more of the music, movies, and books we own exist only online, in digital form. What happens to these collections after the owner's death? You may be surprised at the answer.

Passing Assets to Grandchildren Through a Generation-Skipping Trust

Kevin Hardy — Thu, 01 Jul 2021 14:34:35 +0000

Passing assets to your grandchildren can be a great way to ensure their future is provided for, and a generation-skipping trust can help you accomplish this goal while reducing estate taxes and also providing for your children.