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Laura Twomey Quoted in The New York Times about Planning for Aging Parents' Financial Affairs
05.28.13
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Simpson Thacher Personal Planning partner Laura Twomey was quoted in The New York Times in the article entitled "The Talk You Didn’t Have With Your Parents Could Cost You," regarding planning ahead for elderly parents' financial affairs after they pass away. Ms. Twomey recommends setting up a trust in advance, where the “child becomes trustee after the parent dies, becomes incapable or ‘unavailable to act.’” This is one of several options that can be arranged between a child (or children) and parent in order to avoid financial complications after a parent’s death.
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