Publications
Forbes: What if A Beneficiary Becomes An Addict?
Since the beginning of sheltering-in-place in response to the pandemic, there have been concerns about the impact the response has had on drug and alcohol recovery programs and their clients. This is to the extent where some are seeing substance abuse as a “pandemic within a pandemic”. Filling the gap in available treatment is a policy issue that has to be addressed by society, but trusts can be drafted so as to increase the likelihood of long term (2+ years) recovery from less than 25% to 92%.
Forbes: Handling Debts in an Estate
The financial stress on both families and businesses as a result of the Covid-19 pandemic means an increasing level of debt for both. In reviewing estate plans today, one of the issues to consider is what would happen if a client who has significant debts, or is liable for debts incurred by their business, suddenly falls ill and dies? There is a process for handling debts of a decedent in estates, but it requires careful planning.