Archive for June, 2012

Are You Drafting A Will Right For You?

Thursday, June 28th, 2012

Our lives are something that are precious each and everyday. Every day that we are given we face new possibilities and accomplishments that were not there the day before. However, it should come to no one’s surprise that as soon as we are born we begin to grow, and age and eventually, hopefully, years later we will inevitably meet our last days. Yet, preparation in our lives is a very important aspect whether it is going on a vacation or getting ready for a  child to be born. However, preparation is extremely important even when you are no longer around, especially when it comes down to your will.

Wills101

When people usually think about a will they picture the setting of a movie at either a funeral, or in an attorney’s office with the phrase, “And you were left with…” coming to mind. However, in most movies the individual that passes away is that of an elderly age. We control our lives pretty much the same as we have control over the weather. While we can control some aspects, other things are simply out of our hands, and ultimately can be deemed as “fate”. Yet, “fate” does not have an age and can happen at any given time, which means it is extremely important that you draft a will when you have the time, and opportunity to do so.

Some Things You Should Know When Making Your Will

One question seems to have entered the minds of many people, “How do I actually draft a will properly?” Your will is your last testament to the world that decides who gets what when it comes down to your possessions, or assets. When you cite whom  you would like to receive what it is very important that you are very blunt, and to the point to make sure that a mistake does not occur. Many cases that have cryptic wording within a will can easily be brought to court, and then decided by a judge from that point. Also, when you consider disinheriting a child, or family member truly consider if it is worth it or not. Many times, individuals who do become disinherited usually hold back a “silent scar” for the rest of their lives, and are left in pain. Yet, when you know its time to cut some strings loose make sure to properly word a disinheritance within your will and make it exactly to the point or that individual can also take that issue to court as well.

In this day in age you need an individual you can count on, and at the Law Offices of Thomas D. Reino you get what you see. For more information on business law, or to get business law legal council please contact us by either phone at 817.303.2133, or by fax at 972.264.0891.

Understanding A Trust Fund

Wednesday, June 13th, 2012

In our lives we are constantly at a go whether it is when we wake up, are on the way to work, or running our errands and picking up children. Ultimately, we are simply just trying to make time at the end of the day in order to simply breathe and relax just a small amount. However, some things can always happen unexpectedly whether they are small or large. Yet, in order to make sure that you and your family are taken care of when you are here, or gone you need to take the time out of your day and sit down and prepare personally, and legally.

What Is A Trust Fund?

A trust fund is something that many individuals take out for their children each year. Usually a trust fund is categorized into two different types: income beneficiaries and contingent beneficiaries. Usually, a trust is awarded to an individual when either their parent passes away, or they reach a certain age, which is usually set around 21. When people think of a trust they usually think that it is for the wealthy, or just a social status device. However, it is not that at all. When you make a trust fund for your children you are making sure that they are taken care of when you are gone.

How To Make Your Trust Fund The Best of The Best

Yet, how does a trust fund actually work? When you create a trust fund you designate a  trustee in order to make sure that the funds in the trust fund are done accordingly, and that they receive the proper funds. However, it is extremely important than when designating your trustee that you choose an individual who truly cares about your family, and will be responsible when facing all issues that may erupt. Many times, some trustees simply give free reign to children when they receive access to their trust fund, and they ultimately blow it all in a  small amount of time.

When you create your trust it is extremely important that everything is worded appropriately, especially if you have more than one child. When worded incorrectly a trustee can easily give favor to one child over the other, which would allow them to distribute assets unevenly. At the end of the day make sure that you truly care for your family now, and later and look into legal options when it comes down to your assets. You would always rather become prepared now, rather than later.

In this day in age you need an individual you can count on, and at the Law Offices of Thomas D. Reino you get what you see. For more information on business law, or to get business law legal council please contact us by either phone at 817.303.2133, or by fax at 972.264.0891.