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…
Robin Williams’ wife Susan has gone to court over personal items she says were taken from the couple’s Tiburon, California, home without her permission. Williams’ children say their father set up a trust that bequeathed the items to them and that his wife of three years is acting against his wishes. Could this have been…
Once you have chosen the people you want to receive any of your assets — either from a will, a trust, a life insurance policy or a retirement or bank account — the way you designate how they will inherit should be a key consideration. What You Need to Consider Before Naming Beneficiaries Here are…
Why You Might Want to Consider Unequal Treatment of Children in Estate Matters It is natural for parents to want to treat their children equally when it comes to inheritances. However, equal treatment is not always the best course of action when it comes to estate planning and gifts. Here are some situations that call…
Legal Document Case Gone Wrong If you’ve been following along here for any length of time, you’ve seen us write quite often about the need for every adult to have specific legal documents in place. What we haven’t written about quite as much is why legal documents themselves simply are not enough to ensure the well-being…
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