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August 2016 Archives

Don't avoid talking about money, even in tough situations

Parents often think they should avoid talking to their kids about money, even when it comes to a will and an inheritance. They somehow think that this is a taboo subject, something that is off limits, because how much money a person has is considered personal. Additionally, both children and parents may be afraid to talk about it because it also means talking about a time when the parent has passed away.

Does a zoning variance change the law?

Most land is divided up into zones by the city. For example, certain pieces of land may be zoned as residential, meaning they can only be used for homes and living spaces, while other areas are zoned as commercial, meaning they can be used for businesses. Still other areas are zoned for multi-use buildings; for example, you could have an apartment building with bars and shops on the ground floor.

How many witnesses have to sign a will?

When drafting a will, one of your goals should be writing things out so that there will be no confusion or infighting after you have passed away. You don't want to create a situation where people are challenging your will and disputing its claims.

Distributing money as age limits are hit

A trust can be a useful tool if you want to leave money to someone, but you don't want to do it all right away. Many times, this comes back to a perception of maturity. For example, you may choose to leave $600,000 to an heir, but your heir is currently just 15 years old, and you don't think he or she can handle that type of money.

Triggers that tell you to write a will

Eventually, most people come to the realization that they should write a will. However, there is no legal requirement here, so you're not going to hit some magical age when it all makes sense and you know it's time. Below are a few natural triggers that you may run into in life that can indicate that it's time to get your desires down on paper.

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