Covid 19 and Minor Children – Things to Consider
Protecting your family is important, especially when you have minor children, and even more so now that we are living through a pandemic. With all of the unknowns of our current situation, you need some certainty. Having an up-to-date estate plan can be the first step...
Incentive Trusts: Ensuring That an Inheritance Will be Well Spent
Many parents or grandparents with sizable amounts of money to pass on to their heirs are apprehensive about the effect it many have on their children or grandchildren. In some instances, they fear that the recipients will misspend the funds on drugs, fancy cars or...
What Happens If My Beneficiary Dies Before Me?
When planning for death, most people assume they will die before their beneficiaries (e.g., their spouse, children, and grandchildren). While these assumptions are often well-founded, they do not always come to pass. Sometimes a beneficiary of an estate or trust dies...
Revocable Trust vs. Irrevocable Trust: Which Is Best for You?
A properly funded trust allows you to avoid probate, minimize taxes, provides organization, maintains control, and provides for yourself and your heirs. In its most simple terms, a trust is a book of instructions wherein you tell your trusted people what to do, when....
4 Tips for Avoiding a Will or Trust Contest
A will or trust contest can derail your final wishes, rapidly deplete your estate, and tear your loved ones apart. But with proper planning, you can help your family avoid a potentially disastrous will or trust contest. If you are concerned about challenges to your...
Your Cyber Legacy: 3 Tips for Your Digital Assets
There’s an entire category of commonly-overlooked legacy to consider – digital assets. Don’t worry if you didn’t consider these assets when made your will or trust – it’s surprisingly common and, luckily, easy to correct. What are digital assets? They include: your...
How Do I Donate My Organs When I Die?
Thinking about what will happen to your body when you pass away is probably not what you would like to do with your spare time. However, if you want to donate your organs when you die, you must think about precisely what you want and communicate those wishes to the...
Help! This Probate Is Taking Forever!!
After a loved one dies, their money and property must be distributed to the right people, either according to their will or the state’s default distribution scheme (found in its “intestacy” statute). While most people want the settlement process to be done ASAP,...
Snowbirds: What You Need to Know about Renting Out Your Property
Retreating to a warmer climate for the winter sounds like an ideal way to spend a few months. To help make this dream a reality, some individuals choose to rent out their second homes when they are not in use. But before you list your second home for rent, there are a...
Seven Ways to Avoid Family Fights over Your Property
Ask a group of friends if they have experienced a family fight over property after a loved one has died, and you will be in for a lively and eye-opening conversation. Far too many families end up fighting, or at least experiencing tension, over a family inheritance....
Should Your Child’s Guardian and Trustee be the Same Person?
If you have overheard any discussion about estate planning, you have likely heard the words “guardian” or “trustee” tossed around in the conversation. When it comes to estate planning, who will be ultimately in charge of your minor child is an important decision that...
My Loved One Has Died – What Do I Do Now?
When a family member or other loved one dies, grief and shock can sometimes be overwhelming. The last thing most people want to think about is making phone calls or funeral arrangements. Some things do not need to be done immediately, but there are some steps that...
Love Them Today and Love Them Tomorrow with a Pet Trust
Estate planning is not only important for your human family members, but for your animal family members as well! It is important not to forget to make arrangements for their care if something should happen to you. Consider a Pet Trust Although many pet owners...
Caught in the Undertow: How No Estate Plan (or a Bad One) Could Leave Your Family Overwhelmed
Many people love to spend part of their summer vacation at the beach, enjoying the ocean and sunshine. But there may be unseen dangers that are crucial for beachgoers to keep in mind: For example, the undertow is a current of water, often quite powerful, below the...
How to Help Your Loved Ones (and Assets) Avoid Probate
Today, many people are using a revocable living trust instead of a will or joint ownership as the foundation of their estate plan. When properly prepared, a living trust avoids the public, costly and time-consuming court processes of conservatorship or guardianship...
Important Steps to Protect Your Special Beneficiaries
All children are a blessing. From the day they are born, you begin making plans to ensure that your child or grandchild has a bright future. What will their interests be? What job will they have? Who will they marry? While these are common concerns for most families,...
Nosy Neighbor Nellie Can Find Out About Your Probate. Really.
Most people think of probate (the process of collecting, managing, and distributing a deceased person’s money and property) as a private process. However, because wills are filed at the courthouse, probated estates become a matter of public record. That means your...
Not Just Death and Taxes: 5 Essential Legal Documents You Need for Incapacity Planning
Comprehensive estate planning is more than your legacy after death, avoiding probate, and saving on taxes. Good estate planning includes a plan in place to manage your affairs if you become incapacitated during your life and can no longer make decisions for yourself....
Estate Planning is Not Just About Money
It is a common misconception that financial management and estate planning are reserved for the wealthy. Regardless of how much you have in the bank, you and your family can benefit from planning ahead for the future. If you fail to do so, you could leave your family...
Summer Vacation Plans? Precautions and Preparations to Consider
After months of near confinement in our homes, many of us are stir-crazy and eager to travel to a vacation destination. Although more states are opening up, there are several precautions to consider and preparations to make as you plan your summer travels. Heed the...