by Jason M. Gordon | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is Intestacy Law?Intestacy law is the law that determines how the assets of a decedent (person who dies) are passed to the heirs (those who inherit) when there is no last will and testaments (the individual has not created a will prior to passing).
by Jason M. Gordon | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is Estate Planning?Estate planning concerns the arrangement or organization of affairs of an individual prior to death. What is a Last Will and Testament? A last will and testament, or simply as “Will” is a document used be an individual (a...
by Jason M. Gordon | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is an Exordium Clause? An exordium clause is the opening clause of a Last Will and Testament (“Will”) that officially states that the document is “a will.” How Does an Exordium Clause Work? An exordium clause also introduces the testator...
by Jason M. Gordon | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is a Chartered Trust And Estate Planner? A Chartered Trust and Estate Planner (CTEP) is a professional who specializes in trust and estate planning. CTEP is also a credential awarded to these professionals by the Global Academy of Finance and Management (GAFM)....
by Jason M. Gordon | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is an Irrevocable Income-Only Trust? An irrevocable income-only trust is an estate planning tool used for Medicaid planning. It allows donors to protect their assets from being auctioned to pay for nursing home care expenses. This way, the assets can be...
by Jason M. Gordon | Feb 23, 2025 | Inheritance, Estates, and Trusts
What is an Inter-Vivos Trust? An inter-vivos trust is a type of trust used in estate planning that highlights the distribution of properties according to the terms of the trust. An inter-vivos trust is created during the lifetime of the trustor, in this trust, a...
