Revocable trusts are common estate planning tools in New Hampshire. The trust is established by someone known as a “grantor” (i.e. the person who transfers assets into the trust) and in most instances is also a beneficiary of the trust. When the grantor dies, the trust does not automatically terminate.…
Nashua Business Owner Has Questions The Covid-19 pandemic has created a new sense of urgency in the local business community to implement or update their business succession plans. A comprehensive business succession plan will increase the chances that a business will survive the retirement, disability, or death of its owner.…
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…
Some of our estate planning clients are trustees over trusts created by firm clients, or are asked to serve as a trustee or successor trustee over a trust drafted by other attorneys for a parent, sibling, or other relative. What a trustee must do to administer a trust is a…
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…
It’s no secret that people all over as well as New Hampshire are living longer. While this is a good thing, a longer life also means planning for more years after retirement. Many seniors are choosing to (or need to) work after retirement. According to the AARP, 4 out 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…