Why You Need a Trust – Even if You Aren’t Rich

by Estate Planning Attorney Patrick A. Metcalf

When you hear the words, “trust fund,” do you conjure up images of stately mansions and party yachts? A trust fund – or trust – is a great estate planning tool for many people with a wide range of incomes who want to accomplish a specific purpose with their money.

Simply put, a trust is just a vehicle used to transfer assets, and trusts are especially useful for parents of minor children as well as those who wish to spare their beneficiaries the hassle of going to Court in the event of their incapacity or death. And why would you want to keep your family out of court (known as avoiding probate)?

Perhaps you’d like to keep private the details of the assets you are leaving your heirs. Leaving assets via a will that must go through probate to go into effect makes your estate a matter of public record. A trust is a private document and distributes assets upon your death without the need for probate, which can tie up assets for a long period of time in court.

The court process can take longer than is necessary and keep your family from getting access to your assets as quickly as they want or need them.

If you have minor children, you need to create a trust to leave your assets to them since minors cannot inherit directly. You will want to name a trustee to manage those assets for your children. Even if your children are adults, a trust can help protect assets you leave for them from creditors, legal judgments, divorce, or even their poor money management habits.

You can even establish a trust for yourself in case you become incapacitated and cannot manage your own finances at some future time. The trust assets are managed by a successor trustee, which avoids the need for a court-appointed conservator if you become incapacitated.

Trusts are also wonderful tools for those who are members of a blended family. If you are remarried and have children from a previous marriage, you can provide for your current spouse while ensuring your assets pass to your children from another marriage using a by-pass trust.

Please note:

This blog is not a legal advice. You should consult an experienced Estate Planning attorney help you with your estate planning process. It’s best to have an attorney review your background and your needs before you start your plan. You may not get the desired outcome if you do not pan properly.

Please contact our trust and estate planning lawyer at 847-882-1992 or visit us at our website www.MetcalfLawGroup.Com if you have any questions regarding your estate plan.

Can you be stopped at the border if you have a Visa?

by Immigration Attorney Patrick A. Metcalf

Yes, as I said before, a visa is simply a request for an entry into the United States. I have many clients complain to me that an immigration official did not let them in even though they had a visa. There are many inadmissibility issues a foreign national need to consider.

Proper Visas:

For example, if you are entering the US with a tourist visa, your intention must be just that: enter the US, visit your family and friends, spend money, AND go back to your home country after your short-term visit. You cannot be coming here to work, get married to your girlfriend or boyfriend, etc. with a tourist (B-2) visa. I cannot emphasize enough that a visa is simply a permission to request for an entry into the US. It’s not a guarantee.

Many people try to enter the US with a letter from their children saying good luck with your new job. Some with text full of messages from their loved ones on how they will get married once they arrive in the US. I even had a client tried to enter from Canada pulling a trailer full of home furniture, claiming he was just visiting. Needless to say, he was denied entry as a visitor. Remember, there’s nothing wrong with any of the above activities, if done with right intentions with proper visas. It is possible to work in the US or to get married to your loved ones in the US. But you need to be upfront with your intent when you enter the US.

Inadmissibility:

There are other cases where you may be barred from entering the US such as criminal convictions, prior immigration violations, etc. You may be subject to 5, 10, or even permanently barred from entering the US resulting from your past immigration activities.

So you must be ready to withdraw your application to enter if you appear to be subject to expedited removal because you may not be able to reenter the US for 5 years. Again, it’s up to the U.S. immigration officials at the point of entry to whether to let you in to the country or not.

Please note:

This blog is not a legal advice. You should consult an experienced immigration attorney before starting you immigration process. It’s best to have an attorney review your case before you start because sometimes it’s best NOT to file anything. You can hurt your case if you file for an immigration benefit even though you don’t qualify for that benefit.

Please contact our immigration attorney at 847-882-1992 or visit us at our website www.AskImmigration.Com if you have any questions.

Who needs Estate Planning?

by Estate Planning Attorney Patrick A. Metcalf

Most people with assets or family should have an estate plan. Typically, you should establish an estate plan if you;

own property that matters to you,
have minor child (under 18),
are concerned with possible incapacity
are concerned with privacy issues,
have philanthropic goals, and
want to establish business succession.

Remember, estate planning isn’t only for the rich, nor are there minimum property requirements, such as owning a home. Anything you care about—from artworks to gold earrings to items with little or no market value such as the old family rocking chair or loved photographs—is significant enough to warrant at least basic estate planning. The key is to ask yourself whether you own any property that you want to go to a specific person or organization when you die. If the answer is yes, you need to create a plan to make sure your desires will be carried out.

Notice all the above reasons starts out with “you”. That means you will decide what to do with your property, not someone else. If you do not have a plan, others will decide what to do with your assets.

Please note:

Please contact our estate planning lawyer at 847-882-1992 or visit us at our website www.MetcalfLawGroup.Com if you have any questions regarding your estate plan.

What is a Will?

by Estate Planning Attorney Patrick A. Metcalf

A will is a legal document that explains your wishes regarding the distribution of your property and the care of any minor children after death. If you die without a will, those wishes may not be carried out. Further, your heirs may end up spending additional time, money, and emotional energy to settle your affairs after you’re gone.

Some people think that only the rich or those with complicated assets need wills. There are many good reasons why you should have a will. Here are some reasons why you should have a will:

You can be clear about who gets your assets. You can decide who gets what and how
You can keep your assets out of the hands of people you don’t want to have them (like an estranged relative)
You can identify who should care for your Without a will, the courts will decide.
Your heirs will have a faster and easier time getting access to your assets.
You can plan to save your estate money on taxes. You can also give gifts and charitable donations, which can help offset the estate

Notice all the above reasons starts out with “you”. That means you will decide what to do with your property, not someone else.

Please note:

Please contact our office at 847-882-1992 or visit us at our website @ www.MetcalfLawGroup.Com to talk to a will lawyer if you have any questions regarding your estate plan.

What is a Visa?

by Immigration Attorney Patrick A. Metcalf

A visa is simply a permission for a foreign national to come to the border and apply for entry into the United States.

There Are Two Types of Visas

Immigrant Visa – an immigrant visa allows someone to enter the U.S. permanently.

Non-immigrant Visa – while a non-immigrant visa allows one to enter for a short-term, temporary stay.

Your visa is typically paced in your passport, given by a U.S. consulate overseas. Important to understand that simply having a visa doesn’t guarantee you’ll be able to enter the U.S. It’s up to the U.S. immigration officials at the point of entry to let you in to the country.

**Please note:
This blog is not a legal advice. You should consult an experienced immigration attorney before starting you immigration process. It’s best to have an attorney review your case before you start because sometimes it’s best NOT to file anything. You can hurt your case if you file for an immigration benefit even though you don’t qualify for that benefit.

Please contact our office at 847-882-1992 or visit us at our website www.AskImmigration.Com if you have any questions.

The H1-B Visa and the Implications of Trump’s Changes

On February 1^st, 2017, Donald Trump introduced legislation regarding H1-B visas to the House of Representatives. In short, the purpose of the legislation is to place restrictions upon this particular type of visa as well as the factors that are behind their issuance. One of the major changes made to the visa is the minimum wage that its holders are required to make. Under the new changes, a holder would need to make at least $130,000 per year in order to qualify for the visa. This is more than double the current minimum wage, which is $60,000.

You might be wondering why there is so much fuss about this particular bit of legislation, especially if you are not directly affected by its changes. I would caution you to take a closer look at the implications that these restrictions and their ramifications would have upon the general public of the United States before writing off these bit of news entirely.

Who Holds H1-B Visas?

H1-B visas are visas given to foreign workers so that they can work in the United States. Note that these are specifically “highly skilled” foreign nationals that must provide a great boon to the country that wishes to hire them. They are, by definition, workers that are exceptional in their respective fields – that is why they are hired. The majority of these visa holders tend to be employed in the technology industry, including companies like Infosys. These are workers that tend to keep the infrastructure of important businesses, such as those in the Fortune 500, running, as well as those that provide support for companies specializing in information technology consulting.

On a more personal level, this means that if the majority of these individuals are suddenly removed from the American workforce, users could start to see subpar service as well as more frequent errors or outages as workers struggle to adapt to their abruptly increased workload.

A Hit to the Economy

The United States may hire as many as 85,000 foreign workers a year using H1-B visas. Many of these individuals bring their families along to live with them while they are working in the States. 85,000 families make a not-insignificant impact upon the profits of various industries in the economy. Just think about the things that your family uses every day, and you will start to see what I mean. Without those families, a whole host of individuals will suddenly be missing a big part of their income. Real estate agents and landlords, for example, might find themselves missing a lot of business. The same goes for other fields like the household goods industry.

The proposed changes to the H1-B visas might seem innocuous at first. They might even seem inconsequential to the average American. In practice, however, these changes could have severe implications that, like so many other things, trickle down to impact general society. The most pressing of these is probably the dependence of large, important companies upon the work that skilled foreign nationals provide. Without that work, and without the time to properly replace the employees in question, millions of customers could find themselves receiving service below that to which they are accustomed.

Stayed tuned for more information about this situation as it develops!

Fighting For Fairness For 30 Years!

Please note:

Proper Visas:

Inadmissibility:

There Are Two Types of Visas

Who Holds H1-B Visas?

A Hit to the Economy

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Fighting For Fairness
For 30 Years!