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October, 2017 | Knapp Law Firm, PC - Part 2

Monthly Archives: October 2017

Life Estate Deeds

Life Estate Deeds
What is a life estate deed? The short answer is a life estate deed separates ownership of real property between two different parties.  Often, but not always, the parties are the parents or one parent, and a child or more than one child, and sometimes grandchildren.   One party gets life time use of the property…
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Wrongful Death Actions

If someone dies in a car accident and he is not at fault, who receives the insurance settlement monies, the people named in the will or the heirs-at- law? The proceeds of a wrongful death action are paid to the statutory wrongful death beneficiaries or the intestate heirs.  This is often the spouse and children,…
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Discussing Long Term Care with Parents

Discussing Long Term Care with Parents
Things are changing for my parents and I feel I need to address early care and monetary issues with my siblings when they visit from out of state at Christmas.  How do I begin? I am a big advocate for elders maintaining independence and acting on their own as long as possible.  However, some elders…
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Trust Administration

Trust Administration
What should I know before I agree to administer a trust? The most important aspects of administering trusts are organizational skills and record keeping.  Basically you need to track every dollar coming in and going out of the trust and make sure it goes to the right person at the right time.  Whether you feel…
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