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Tag Archives: Children

Child Safety Seats

By Berman, Sobin, Gross, Feldman & Darby LLP |

Car seats for children have been around since at least the 1930s, but they weren’t necessarily designed for safety, they were more for child storage. Over times the seats evolved and relics such as travel cribs for your car fell out of use. In the 1970s, when I was a child, it was not… Read More »

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What Happens To My Kids If I Become Incapacitated?

By Berman, Sobin, Gross, Feldman & Darby LLP |

One of the overriding purposes driving people to create and establish an estate plan is to ensure their minor children are cared for and will continue to be provided for in case a tragedy befalls the family and one or both parents pass away. Benefits of a Last Will and Testament One of the… Read More »

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Owning A Joint Checking Account With Your Child: A Road To Responsibility Or A Road to Disaster?

By Berman, Sobin, Gross, Feldman & Darby LLP |

It is imperative that you weigh the pros and cons before opening a joint account with your child. Particularly, you must analyze your situation and your reasons for doing so. You will find that for many of these reasons there may be other options that do not change ownership but still carry out your… Read More »

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Transfers To Minors: Where Do I Start? What Should I Consider?

By Berman, Sobin, Gross, Feldman & Darby LLP |

Two of the most commonly used methods of transferring money and assets to minors are a Uniform Transfer to Minors Act (UTMA) Account or a Trust. A UTMA Account is relatively simple to create and fairly inexpensive, but you cannot exercise any control over the assets. While a trust allows you to maintain a… Read More »

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What Is So “Special” About A Special Needs Trust?

By Berman, Sobin, Gross, Feldman & Darby LLP |

The Problem. You have a disabled child who is currently receiving need-based public assistance such as Supplemental Security Income (SSI) and Medicaid. Your child is receiving those benefits because he or she is disabled and because he or she does not havesufficient income and resources. As a parent, you want to make sure that… Read More »

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6 Reasons Not To Put Your Child’s Name On The Deed To Your House

By Berman, Sobin, Gross, Feldman & Darby LLP |

Instead of drafting a Will, many people just put their child’s name on the deed to their house. Their goal is to make things easier for their child by eliminating the need to go through probate. If the house is the only asset, this can be an effective way to avoid probate. (If there… Read More »

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Avoid Naming Your Minor Children As Beneficiaries

By Berman, Sobin, Gross, Feldman & Darby LLP |

Beneficiary designations can be an effective tool to avoid probate, if used appropriately. (See Beneficiaries Instead of Probate: Use Caution). Assets can go quickly and directly to loved ones after your death. However, there are certain types of beneficiaries that should be avoided. First and foremost – no minor beneficiaries! I recently represented a… Read More »

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