About Canaan Suitt, J.D.
Canaan Suitt received his J.D. from William & Mary Law School. After serving as a senior editor for the law school’s comparative law blog, he was a staff member of the William & Mary Environmental Law and Policy Review (ELPR). As a legal intern at the National Center for State Courts, he assisted in international rule of law projects and policy review; as a research assistant, he studied political dynamics in the U.S. federal judiciary. His articles on law and philosophy have been published in the ELPR as well as the academic journal Dewey Studies. He loves using his background in research and writing to make legal information accessible. Canaan currently writes for SuperLawyers.com. In his free time, he enjoys reading, travel, and being a cat dad.
Articles written by Canaan Suitt, J.D.
Are There Alternatives to Bankruptcy?
Alternatives to bankruptcy include debt settlement, debt consolidation, and debt refinancing. Credit counseling helps to create a management plan and identify debt restructuring alternatives. Contact creditors for an informal workout or negotiated payoff. A deed in lieu of foreclosure or a short sale can avoid foreclosure. You can keep your property with a forbearance agreement or loan modification. You can negotiate a tax settlement under a hardship program with the state or IRS. Asset …
What Happens if Someone Dies Without an Estate Plan?
Having an estate plan brings many advantages, including: Control of how your assets are distributed when you die Peace of mind that your loved ones will be provided for Control over healthcare and financial decisions if you become incapacitated Despite these benefits of an estate plan, most Americans don’t have one. And lacking an estate plan can lead to unwanted results. “If you do not have a will or estate plan, the state where you reside and pass away …
What’s the Difference Between an Estate Plan and a Will?
The difference between an estate plan and a will is that a will is an asset distribution document, and an estate plan provides a comprehensive strategy for asset protection and incapacity planning. Estate plan benefits include probate avoidance, asset management, tax mitigation, trust administration, and end-of-life care. Documents in an estate plan can include a will, revocable trust, living will, power of attorney, healthcare directive, guardianship clauses, and life insurance with …
What Digital Assets Should I Include in an Estate Plan?
When planning your estate, you may think of physical property such as your house, car, cash, or jewelry. Estate planning for these assets is important. But what about your digital assets? Digital estate planning is more important than ever as our lives increasingly move online, from financial accounts to family photos. Your estate plan should include digital assets alongside traditional ones to account for all your assets. But what are digital assets, and how do you make an estate plan for …
What Assets Should Be Considered When Planning Your Estate?
Anyone who owns assets of any kind has an estate. Estate planning is the process of preparing for what will happen to your assets when you die or become incapacitated. An estate plan answers these key questions: What are my assets? How will my assets be distributed? Who do I want to leave my property to? Who will care for or raise your dependents if you die What kind of medical care you will receive Who will make decisions regarding your …
What Is the Role of an Executor in Estate Planning?
The executor is the deceased person's legal representative and has a fiduciary duty to negotiate debt settlements, protect the estate's asset inventory, and carry out the deceased's last will and testament. Executors obtain a death certificate, file a probate court petition, communicate with beneficiaries, manage property, notify creditors, and maintain records. They oversee the appraisal process, identify the parties' bank accounts, and file tax returns. These fiduciaries pay estate fund final …
Four Ways To Reduce and Avoid Estate Tax
Everyone who owns property has an estate, but not everyone is subject to estate taxes. Estate taxes only apply to wealthy individuals with very large estates. If your estate is large enough to be taxed under federal or state law, there are strategies to reduce or avoid your estate tax liability. This article will cover some of the main strategies for avoiding estate taxes. Large estates are complex, and once you understand the available options, it's best to speak with an experienced estate …
How Can a Probate Court Process Be Avoided?
To avoid the probate court process, you must initiate non-probate asset transfer estate planning during your lifetime. Asset transfer planning options include a revocable living trust, beneficiary designations in retirement accounts, life insurance, and payable-on-death accounts. Real estate owned in joint tenancy with right of survivorship and transfer-on-death deeds transfers property upon death. With non-probate transfers, property ownership passes through direct inheritance and avoids …
What Does an Estate Planning Attorney Do?
Estate planning attorneys are legal advocates who provide counsel, estate document drafting, and help clients carry out end-of-life wishes. Estate planning fiduciary guidance includes asset protection, probate avoidance, estate tax mitigation, advance directives, and incapacity planning. An attorney drafts last wills, revocable trusts, powers of attorney, healthcare proxies, guardian appointments, beneficiary designations, and other estate planning vehicles. An attorney can also carry out trust …
When Should I Sue for Breach of Contract?
A contract is a legally binding agreement between two or more parties. Contracts are the backbone of everyday business. Sales contracts allow people to purchase land, goods, and services. Other contracts govern matters like employment. Ideally, all parties uphold their contractual obligations. But as we all know, things do not always go as planned. When a party fails to perform its obligations under an agreement, it’s in breach of contract. This article will explain when to sue for breach of …
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