What is a Special Needs Trust? A “special needs trust” is a specific type of trust that is established for a person with special needs to supplement the benefits the person with special needs may receive from government programs such a SSI and Medicaid. A properly drafted special needs trust will allow the beneficiary to Read More
Dying with Debt
Dying with Debt At some point in our lives we may ask ourselves: “If I die and have debt, who or what will be responsible for paying back those I owe?” In Nebraska, the only time a family member would be responsible for parents’ debt is if they cosigned a loan or were a joint Read More
Really, Everyone Needs a Will
Really, Everyone Needs a Will — To begin with, by having a will, you can control who receives your property after your death. Without a will, the state you live in determines how your property is distributed, and you likely would do it differently. People don’t usually thinking about making a will until they are Read More
Revised Uniform Fiduciary Access to Digital Assets Act – LB 829
Revised Uniform Fiduciary Access to Digital Assets Act – A Summary – On April 13, 2016 the Nebraska Legislature passed LB 829, which adopts the Revised Uniform Fiduciary Access to Digital Assets Act (Revised UFADAA). The Act was signed into law by the Governor on April 20, 2016. In the Internet age, the nature of property Read More
New Illinois Law on “Presumptively Void” Bequests to Non-Family Caregivers
New Illinois Law on “Presumptively Void” Bequests to Non-Family Caregivers Illinois adopted a new law, Public Act 098-1093, effective on January 1, 2015 that assigns a “presumptively void” status to bequests made to non-family caregivers, if the transfer would take effect upon the death of the cared-for person. The law applies only to post-effective date Read More
Inheriting Debt from a Family Member
Inheriting Debt from a Family Member When a loved one passes away, his or her outstanding debt (and how that debt will be paid) likely won’t be the first thing on your mind. Unfortunately, many people find themselves dealing with a deceased family member’s creditors as they grieve. While no one likes to think about Read More
Access to Digital Assets After Death
Access to Digital Assets After Death This isn’t a simple matter, even if you’ve planned. It used to be that people kept important things in filing cabinets, banks, and photo albums. Now everything from communications, to photos, to music, to sensitive financial information is increasingly kept online. In fact, 51 percent of U.S. adults bank Read More