Tag Archives: family

Why Set Up a Family Trust: The Top 5 Benefits

Banking Savings Funds Planning Finance Money ConceptFamily trusts have been gaining steam these past years, and why not? It’s an entirely legal way to safeguard your assets for you and your loved ones. Your assets would be owned by the family trust instead of an individual and would be managed by trustees — whom you’ll appoint — for your beneficiaries. What other benefits could a family trust offer? Here are some of them:

  • Legal Asset Protection – You could use a family trust for protecting your assets in the event of a claim against you or if your business fails. You could hold real estate, your business, as well as other investments in your trust.
  • Protection Against Remarriage After Death of Your Spouse or Partner – Currently, the law allows even a de facto partner the right to claim assets even only after three years into the relationship. Having a family trust would safeguard your assets from failed remarriages or relationships following the death or a partner or spouse. This is especially useful in cases involving second marriages or relationships wherein one party isn’t the biological parent of the children.
  • Healthcare Safeguards – A well-structured trust, provided that it’s been established for a certain time could likewise protect family assets in the event of health breakdowns, especially later in life, in which the state might impose that you get rid of your assets to be eligible for healthcare, explains Rainey Collins Lawyers and other renowned family trust lawyers.
  • Asset Protection from Prospective Law Changes in the Future – A properly structured family trust could offer significant protection from a wide array of wealth tax types that might be passed into law in the future like inheritance tax or death duties.
  • Imprudent Investments – A family trust could safeguard your family from falling prey to scams or financial predators and squandering assets prior to them reaching maturity or obtaining ample life experiences to make rational financial decisions.

Advance planning is the key to financial freedom and success, and having a well-structured family trust is only one of the many ways you could help secure your family’s future. Keep in mind that when you do set up a family trust, it must be structured in a way that meets your specific goals.

4 Impacts of Divorce To A Family

Child affected with his parents divorceThe family is essential to a person. Having a family assures physical, mental, emotional and financial support for a person’s well-being. However, uncontrollable events may lead to a separation of a family.

Divorce, no matter how painful the circumstances are, happens to nearly 50% couples in the United States. Reasons to end a marriage may vary, but divorce has to include complicated and delicate proceedings that involve each member of the family.

Thus, the services of family law lawyers in Denver, Colorado such as matthewsfamilylawyers.com are usually availed to mediate such proceedings. However, divorce can impact the family in many ways. Here are 3 of them.

Divorce affects the children

The children are the first affected by a divorce. Emotionally, divorce can bring stress, sadness, anxiety and stress. Children’s apprehension would manifest through social withdrawal, inappropriate behaviors, and more. Worse, if the child is still too young to understand the situation, feelings of anger, depression, suicidal thoughts and panic attacks may happen.

Impact to the family

The divorcing couple is also affected by this process. As tensions and misunderstandings happen even before the divorce proceedings, emotional problems could have taken a toll to both parties. Feelings of worry, nervousness, depression, anxiety may occur on both sides that can affect their overall health and productivity. Worse, even extended families can be affected.

Economic Impact

Aside from the emotional implications of a divorce, divorce proceedings can also be painful to the finances. Aside from the usual legal fees, one of the parents would be raising the children alone. Thus, the family law lawyers in Denver, Colorado can make sure that child custody, separation of properties and child support are well accounted for.

A delicate, legal proceeding

Divorce is a complicated, emotional process that can affect all members of the family. There are also legal proceedings that must be accounted for and can be expertly done by family law lawyers.

Large Family Living: The Essential Advantages a Patio Can Offer

Family LivingHaving a big family requires a big heart, a big budget and a big home. Even if you lack the last two aforementioned factors, a big patio may be what you need to solve your dilemma. Why not consider the essential perks that a patio can offer:

Safety – Kids will be kids and you can expect them to play in whatever space you have on your property. Patios provide a safe and secure space for your family members to enjoy themselves. Just Patios and other experts recommend asking advice from patio builders to find designs that work with everyone.

Space – A big family will always enjoy an added space. The thing is renovations can be a hassle, especially with active family members coming in and out of the house. By adding a patio, which won’t be such an inconvenience on your present lifestyle and budget as major construction changes, you add an extra room while giving your home an airy feel.

Aesthetics – The better-looking your home is, the more your children will enjoy it. Upgrading your home adds value and beauty to it, as well. Besides it having a higher market value, which your family will benefit from if you ever sell it, your kids are bound to appreciate your home even more. They are more likely to be tidier to preserve their home’s look.

Time – Yes, you can now spend more time with the kids. As your patio will be taking quite a bit of your yard space, you cut down on lawn maintenance like mowing the lawn or tilling the soil. The extra time you save is what you can give to your family.

Putting in a patio may require time and money, but the benefits are truly worth it. After all, time invested in your family is priceless. And so is the fun times you’ll be enjoying on your new patio.