Blog | Amity Law Group, LLP | Estate Planning, Employment

What Is Reformation of a Will or Trust?

The reformation of a will or trust is the process of either drafting a new will or amending a trust to ensure it aligns with the creator's interests. A party seeking reformation of a will or trust must provide clear and convincing evidence that an inaccuracy or ambiguity exists contrary to the will maker’s intent, thus demanding clarification. The legal...

Undue Influence in the Making of a Will

Undue influence occurs when one person is pressured into doing something that they may not voluntarily want to do. In terms of making a will, undue influence is when a party attempts to gain control over someone else to interfere with the distribution of their assets and property. Who Is Most Susceptible to Undue Influence? Sadly, elderly individuals are frequently...

When is the Right Time to Create a Living Trust?

Living trusts are important estate planning document because they allow you to transfer property efficiently, without having to worry about probate. If you are thinking about drafting one of these documents, it is important to consider the ideal time to get started. For instance, when deciding whether to start drafting a living trust, you should think about both your age...

What Is an AB Trust for Married Couples?

When a couple gets married, they should remember that they can draft a specific trust to minimize their estate taxes. An AB trust, also known as a credit shelter trust, involves creating two separate documents after one spouse passes away. First, the portion of property owned by the spouse who passed is put into the bypass trust (B). This arrangement...

What Property Can I Put into My Living Trust?

The creation of a living trust allows you to avoid probate fees. Typically, the more valuable an item or asset is, the greater the cost to probate it. As a result, your highest value assets should generally be placed in your living trust. Items to consider adding to the trust include: Houses and other real estate (even if they're mortgaged)...

Should Employers Provide Severance Pay?

WHAT IS SEVERANCE PAY? Severance pay is money that an employer chooses to offer an employee who is leaving the company. Common scenarios in which an employer might offer severance pay include layoffs, termination, resignation, or mutual agreements to part ways. These arrangements may include anywhere from a week or two of pay for each year the worker was employed...