New Hampshire’s recently adopted law on access to and administration of a deceased person’s “digital assets” provides some clarity on a complex issue. Terms of service agreements and privacy policies govern access to social media and email accounts, and most expire when a user dies and are not transferable. Surviving family members…
My Parent Died In Nashua Owning Real Estate, Do I Need To Go To Probate Court? Yes, if the deed to the real estate was in your parent’s name only. When a person dies owning real estate in his/her sole name, then the real estate must go through the legal…
What Are Motivating Factors For Estate Planning And Business Planning? A recent client consultation touched on the “whys” of estate planning and business planning. As in, what do most people want to accomplish when they come in to our offices? Here is my unofficial “top five” list. 1. Incapacity planning…
Effective January 1, 2018, NH adopted a version of the Uniform Power of Attorney Act. One of the more important provisions under the new law is that banks and financial institutions are prevented from arbitrarily refusing to accept powers of attorney. Bank and investment company refusals to accept powers of…
Q: Estate planning client has concerns about whether her former spouse can still inherit her assets? A client had been through a divorce several years before coming to our office for a will, trust and some business transition strategy advice. During marriage she had built up a profitable business, and…
Is an LLC a good way to hold and transfer the family vacation home? Since family vacation homes often provide a refuge for family members to gather and enjoy one another’s company, parents are often in search of ways to keep these properties in the family. Before implementing such planning,…
This question was posed by a Nashua area probate client who recently lost a close friend. Unfortunately, his friend died without a will or any immediate family members. When a person dies owning property in his own name and has no Will, the property left behind must pass through probate…
Amherst estate planning client wants to know: How do Hillary Clinton and Donald Trump differ on the Estate Tax? Donald Trump wants to repeal the estate tax. Hillary Clinton, on the other hand, would increase the estate tax rate and lower the threshold at which it kicks in, from $5.45…
We recently had a Nashua business owner voice concerns about how to avoid “business probate". There are a variety of methods of providing a smooth non-probate succession for small business owners.If there are multiple owners, then there should be buy-sell agreements embedded in the governing documents: LLC Operating Agreement; Shareholder…
Nashua business planning client owning several rental properties has concerns regarding being caught in New Hampshire’s real estate transfer tax (RETT) net. Can property be transferred from a joint tenancy with rights of survivorship to a newly created LLC for added liability protection and administrative ease? Can real estate held…