Law Office of Harvey L. Cox.
Law Office of Harvey L. Cox.

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Blogs

The Advantages of a Trust
  • By: Harvey L. Cox, Esq.
  • Published: June 10, 2021

In another post, I talked about why a Will is not the best tool to address your concerns for quickly transferring your assets, keeping your estate private, or properly leaving money to minors. A Trust, however, does address these concerns. Here's how: 1. Asset Management If you have heirs who are minors, leaving their share in a trust allows someone to manage and invest their inheritance for them until they reach the age you specify for receipt of their entire inheritance. Additionally, if you have disabled heirs, leaving them an inheritance outright in a Will can cause them to lose their needs-based disability income. However, if you leave their share with a Trust, there is no interruption of their benefits.…Read More

The Problem with Wills
  • By: Harvey L. Cox, Esq.
  • Published: June 8, 2021

You probably have the same primary concerns I commonly hear expressed by those thinking about their estate plans. 1. Financial Burdens – you want to make sure your assets transfer to your family without unnecessary expense 2. Privacy – You want to make sure your assets transfer to your family without the entire process being made public 3. No Delay – You want to make sure there is no delay in transferring your assets to your family 4. Minors – You want to make sure minor children are cared for by someone you choose, and that large sums of money are not handed to minor children or grandchildren when they reach 18 years of age. While a Will is the most common tool used…Read More

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