James opens a joint bank account with his second wife, Kathy. It is joint with rights of survivorship. Whoever is the last surviving joint owner inherits what is in the account. No need to go through probate. Almost $100,000 in the joint account came from the sale…
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Imagine this scene in a Hollywood movie: images of screaming, sword-clashing hordes running towards their enemies. Today we are more civilized and handle our disputes in a courtroom, using weapons like a lawsuit. Our motive, however, is the same; we want to crush our enemies. Lawyers and…
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Making a will used to be so simple. Now, if you are elderly, you may need to obtain medical evidence to confirm that you are competent. It’s almost an Olympic challenge. Medals should be awarded to those who succeed. It can be a lot of work to…
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You feel like your entire house is spinning and you are helpless. Your lawyer, Tom the Terminator, checks the facts and gathers evidence to support your version of the truth. He can then properly advise you on your case and if a judge can give you what…
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Let’s say you need a roof on the new home you are building. You hire Joe the Roofer to do the job. You wake up one day to find water leaking from your new roof. At least you have not paid the last instalment on his contract….
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You may not think of lawyers, except perhaps in a negative way, until you need one. Then you have no clue what lawyers do or what to expect. You are not sure of your role as client, or what part you should play in the legal…
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Key 2: Avoid Falling Into Major Tax Traps Do you know the biggest tax mistake you can make? Neither did Karl, a 72-year-old mechanic who was set to undergo open-heart surgery. Karl told his lawyer to register his children as joint owners on the title to his…
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Here are some tips if you are an executor. Minor squabbles can take hours of your time away from your office. Court battles can add years to estate work as executor. If you are a professional, this can actually take money from your pocket. You should be…
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“Compensation for your time and trouble” is what the law calls your fee as estate executor. You can probably figure your time is productively worth $150 or $200 an hour back in the office. You need that to cover your overhead. Well, you won’t get paid by…
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Do you play any sports? Maybe golf, tennis, or soccer? Each sport is played with a different set of rules. Unless you understand the rules, you cannot win. Similarly, you must understand the rules for protecting your money and family. Unless you understand the fundamentals, you will…
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