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Davis Schilken, PC

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Month: January 2022

Common Trusts: Parenting beyond the Grave

Posted on January 27, 2022 | by Davis Schilken

Parents strive to make their children feel equally valued as reflected in the fact that, when setting up an estate plan, parents typically divide their accounts and property equally among their children. But while parents strive to treat their children the same, they simultaneously Continue reading →

Posted in Uncategorized

QTIP Trust – Will My Spouse Get What They Need?

Posted on January 25, 2022 | by Davis Schilken

What is a QTIP trust?

A qualified terminable interest property (QTIP) trust is an estate planning tool that married couples can use to minimize uncertainty about the future and maximize certain tax advantages. Since no one can predict how much they will own at the time of their death, Continue reading →

Posted in Uncategorized

Pour-Over Will: Not Your Average Will

Posted on January 12, 2022 | by Davis Schilken

Wills and trusts are the two basic legal instruments that people use to pass accounts and property on to their loved ones at death. Although a revocable living trust is often used in place of a will, the two are not mutually exclusive. You can have both a will and a trust, and in Continue reading →

Posted in Uncategorized

Using Real Estate Deeds in Estate Planning

Posted on January 6, 2022 | by Davis Schilken

When using trusts in estate planning, a key element includes transferring the trustmaker’s real estate into the trust by recording a deed with the local recording authority. This step is crucial for ensuring that the trustee has the authority to manage and ultimately sell or transfer Continue reading →

Posted in Uncategorized

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