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5 Things to consider when choosing a guardian to name in your Will

Written by Sussan, Greenwald & Wesler Choosing a guardian to name in your Will When handing your will and estate planning, one of the most important decisions you’ll have to make is who will take care of your children if you become incapacitated or in the event of your death. “If you don't name a legal guardian in your will, the court will choose who will care for your children,” says Alex Hilsen, Esq., LL.M., head of SGW’s Estate Planning Division. “And you can’t assume that they will automatically grant custody to aunts, uncles, or grandparents.” When drawing up your will, be sure that...

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Does my child need an extended school year?

Written by  Mariann Crincoli, Esq. An extended school year (ESY) refers to educational programming beyond the required 180-day school year for students with disabilities who are eligible. Although every student with a disability who has an individualized education program (IEP) must be considered for ESY, not every student is eligible for ESY. The determination, like all other programming decisions for students with disabilities, must be made annually on an individual basis by the IEP team. Parents are a valuable member of the IEP team and must be part of this decision-making process. Several factors must be utilized by the IEP team in...

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The fundamentals of Estate Planning: How to protect your family’s future

One of the best ways to help assure that your assets will be managed for your family as you intend is to develop a comprehensive estate plan designed to meet your individual needs. The estate planning process typically involves working with your financial, tax and legal advisors to develop a customized estate plan. Many estate plans include the following: Last Wills and Testaments Durable Financial Powers of Attorney Advance Medical Directives Revocable and/or Irrevocable Trusts Insurance Trusts Charitable Remainder Trusts Minor's Trusts - Spendthrift Trusts By-Pass or Credit Shelter Trusts Marital Trusts (QTIP) Grantor Retained Annuity Trusts or Grantor Retained Uni-Trusts ...

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Type of Trusts

There are two basic types of trusts: living trusts and testamentary trusts. A Living Trust or an “inter-vivos” trust is set up during the person’s lifetime. A Testamentary trust is set up in a will and established only after the person’s death when the will goes into effect. Living trusts can be either “revocable” or “irrevocable.” Revocable trusts allow you to retain control of all the assets in the trust, and you are free to revoke or change the terms of the trust at any time. With irrevocable trusts, the assets in it are no longer yours, and typically you can’t make changes without the beneficiary’s consent....

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