You have likely heard over and over that there are many advantages to creating a comprehensive estate plan. One of the most important benefits for many individuals is that it allows you to help prevent disputes among your loved ones after you are gone. Below are a few steps to follow when establishing your estate…
The term “blended family” has become commonplace in our society and refers to a family where one or both spouses were previously married and have children from prior marriage. In some instances, the new couple goes on to have children of their own. With children, stepchildren, and ex-spouses involved, estate planning can get quite complex….
If you are in your “golden years” and are looking for ways to spread your wealth, you should consider the various tools that will allow you to financially protect and benefit your grandchildren. Carefully planning your gifts to your grandchildren is not only a generous act but can also be a financially wise move in…
10 Questions to Ask Before Hiring an Estate Planning Lawyer Before hiring an estate planning lawyer to guide you and your family, ask these 10 questions to ensure that you don’t end up paying a whole lot of money for services that are not what you need, expect or want. Hiring an attorney does not have to…
Maria Shriver knows the devastation of Alzheimer’s disease firsthand. Her beloved father Sargent Shriver, founder of the Peace Corps and one-time candidate for Vice President of the United States, died of the disease in 2011 after being diagnosed in 2003. How to Prepare Yourself Often called “the long goodbye,” Alzheimer’s disease affects more than five…
Take Care of These 5 Things Before You Hit The Beach It’s no surprise that Americans spend more time planning their summer vacations than they do planning their estate. After all, a vacation is a trip you want to go on, while the eternal “trip” is not. However, wouldn’t you travel with more peace of…
If you have young children, chances are that your summer activities include some careful planning to keep them safe from harm. Unfortunately, even with proper precautions in place, accidents do happen and not just to children. Have you planned for what will happen to your children if you are the one involved in a tragic…
Protect Your Special Needs Family Member When you have a family member with special needs, it is important to understand that your estate planning strategy is unique and requires the assistance of an attorney experienced in creating Special Needs Trusts. If an inheritance is left directly to your family member with special needs, it could…
The passing of family heirlooms from one generation to another should be a welcome tradition in most families, but unfortunately, this process can cause long-lasting family rifts if not done properly. There are many stories of families that have split over a silver tea service or a portrait of a long-dead ancestor. In fact, you…
The Benefits of an Estate Plan Many parents believe that by adding a child’s name to a property deed, they can pass along the property outside of probate. Unfortunately, those who act on that belief often find they have invited more problems than they have avoided. This is because, in many states, when more than…
How to Prepare Your Children’s’ Life As a Single Parent If you are a single parent, life for you right now probably couldn’t get any busier. You are likely being pulled between work, school activities, sports teams and the inevitable emergencies that fill the lives of single parents everywhere. Being a single parent is a…
Planning for Leaving Your Legacy Behind The assets you leave to your loved ones can either be a source of relief or, sometimes, a source of panic if they don’t know how to manage those assets. Unless properly prepared, your loved ones may not know how to deal with sudden wealth. Even just fifty thousand…
How to Keep Your Digital Life Thriving If you’re like most Americans, you have a rich digital life. You may bank online, invest online and certainly interact socially online. But where do those assets go after you go? And how will your loved ones get access to them, if you haven’t left behind specific instructions…
Asset protection is not something most people think too deeply about. Most of us are busy trying to accumulate assets to give considered thought to consider the importance of protecting what we have. A recent article on The Motley Fool investment website notes that there are a number of things that can harm an investor…
Estate Planning – The Proper Way Downton Abbey – the PBS drama about the fortunes and misfortunes of an aristocratic British family in the early 20th century that has taken American audiences by storm – gets most of its gripping plot twists as the result of a number of bad estate planning moves. For example:…
Contrary to popular belief, estate planning is not just about money or taxes. Far from it. Today, it’s more about protecting your assets for yourself and your loved ones, achieving your financial goals and safeguarding your health care. Money and taxes aside, here are 7 good reasons you need an estate plan: What to Consider…
Is Your Living Trust Really Going to Work For the People You Love? Traditionally, one of the primary reasons for establishing a living trust has been to avoid probate. But there are a few more benefits of a living trust that can help you do much more than that if it’s set up right: Asset…
Estate planning is an ongoing process, and plans should be reviewed with a qualified estate planning attorney every few years to ensure that the goals you set in making your plan are still valid. Successful Estate Planning When reviewing your estate plan, keep these things in mind: Do You Own Your Assets Properly? There is…
When There’s a Will, There’s Probate One of the most prevalent misconceptions when it comes to estate planning is that if you have a will, it will take care of everything that needs to happen after you die in terms of your assets. But before you leave everything to just a will, consider these circumstances…
There is much to be learned from the mistakes of others and the celebrity world abounds with cautionary tales when it comes to estate planning. Even with all the financial resources available to them, celebrities can neglect the basics when it comes to protecting assets. How to Avoid Estate Planning Mistakes We come across sad…
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