Blog

This blog emphasizes the importance of incapacity planning and outlines the five essential legal documents needed for it: financial power of attorney, revocable living trust, medical power of attorney, advanced directive or living will, and HIPAA authorization. It also stresses the need to keep these documents up to date and accessible to loved ones and trusted helpers.

This blog explores the impact of charitable giving in the United States, discussing statistics on donations, the types of charities Americans donate to, and the tax benefits of giving. It also provides advice on how to choose reputable charities, ensure tax deductions, and budget your donations responsibly. It emphasizes the importance of estate planning and seeking professional advice before making significant charitable gifts.

Intrafamily loans enable family members to lend money for various purposes like buying a home or funding a business. This blog highlights their benefits for estate planning, flexible interest rates, and the importance of proper documentation and tax considerations when deciding between gifting and lending.

The article explains the importance of selecting the right executor for a last will and testament to navigate the probate process effectively. It outlines the responsibilities of the executor, situations where discretion may be needed, and how beneficiaries can adjust asset distribution through nonjudicial settlement agreements. Legal guidance is recommended to minimize conflict and ensure the testator's wishes are carried out smoothly.

This article emphasizes the importance of choosing the right trustee for a third-party special needs trust to ensure a loved one with a disability is cared for after the trustmaker's passing. It is crucial to select a trustee with experience in special needs trusts to avoid mistakes that could jeopardize benefits. Hiring a professional trustee or seeking assistance from a special needs attorney can help fulfill the trustee's duties and maximize the trust's benefits.

This document debunks the myths that one does not have enough assets for an estate plan and that estate planning is unaffordable. It highlights the importance of having a will to determine the distribution of assets and guardianship of minor children, as well as the potential consequences of dying without a will. Additionally, it explains the differences between wills and trusts, emphasizing the flexibility and control trusts offer in managing inheritances. The document concludes by stressing the necessity of estate planning for all adults, regardless of income level, and the value of investing in a comprehensive estate plan to secure one's legacy and provide guidance for loved ones.

Sitting down to create or update your estate plan can be overwhelming. Crucial to a successful plan is your ability to address two major questions: Who will get your stuff when you die, and how do you want those individuals or charities to receive that stuff?

While television and movies provide great entertainment, they are not always factual. Even shows based on real events are not entirely accurate. Creators of television programs and movies will often alter details of a story or situation to provide an enjoyable experience. Because of these widespread embellishments, people often develop misconceptions about many industries and professions, including attorneys and estate planning.

Estate planning involves more than just filling out forms; it is a legally binding way for individuals to manage their affairs in case of incapacity or death. It is important to seek legal advice from qualified professionals, as relying on non-lawyers can pose risks.

Creating or revising an estate plan can feel overwhelming, causing many people to procrastinate. But the longer you put it off, the more potential there is to be caught unprepared in an emergency. So how can you motivate yourself and your loved ones to begin the process? Here are some strategies to help you overcome some of the negative feelings associated with this process and meet the challenge head on.

Myths and Frequently Asked Questions: Planning Your Last Goodbye

Ensure Nothing Falls Through the Cracks: The Importance of a Residuary Clause in Your Estate Plan

Estate planning attorneys and probate and trust administration attorneys play crucial but distinct roles in the legal processes involving legacy planning, asset distribution, and wealth preservation. As part of the estate planning process, you should discuss with your attorney the role they will play during your lifetime and whether they can also assist your loved ones with estate and trust administration when you pass away.

Your mortgage, like the rest of your debt, does not simply disappear when you die. If you leave your home that has an outstanding loan to a beneficiary in your will or trust, your beneficiary will inherit not only the property but also the outstanding debt. They may have the right to take over the mortgage and keep the home, or they may choose to sell it and keep the proceeds. A few different scenarios can unfold, however, depending on the mortgage terms and the estate plan instructions.

When people think about estate planning, they usually focus on who will receive their money and property when they pass away and how it will be received. However, estate planning can also address your end-of-life wishes—the considerations and expenses involved when it is time to say goodbye to your loved ones.

Remote work has become the new norm for many employees, creating opportunities as well as challenges for employers. One of those challenges is verifying the identity and eligibility of remote workers for employment in the United States.

In the digital age, our online presence extends beyond social media. Platforms like Twitch, where users engage with live-streamed content, present unique considerations when it comes to estate planning. Do you know what happens to a Twitch account after an individual passes away? If you die and a loved one needs to take care of your estate, the following information is important for your estate planning attorney, personal representative (executor), trustee, and beneficiaries to know.

Creating a business entity is a common strategy in estate planning. However, because of the enactment of a new law called the Corporate Transparency Act (CTA), you may be required to submit certain information that was not previously required about a business entity and any individuals identified by the law as a beneficial owner to the federal government.

Myths and Frequently Asked Questions Corporate Transparency Act

January 28th is International LEGO day! Since the 1940s, people have been creating their own worlds, brick by brick, with LEGOs. With an estate plan, you can help your loved ones build a great future!

Your family member went through a meticulous estate planning process to organize and distribute money and property for the benefit of their loved ones, including you. But you may suspect that some of the high-value items in their estate originated as stolen property. The possibility of discovering stolen items within an estate is often overlooked, but it can have legal, financial, and emotional complications. How does it happen?

To Avoid Probate or Not to Avoid Probate: That Is the Question! In deciding whether a testamentary trust is right for your family or loved ones, consider whether avoiding probate is a priority for you and evaluate the pros and cons, which may vary depending on jurisdiction and the size of your estate.

Estate planning can be a significant part of successful financial management, especially for married couples. One key consideration is minimizing estate taxes, which can substantially affect the distribution of money and property to a married couple’s loved ones.

Separate trusts can provide greater flexibility, but a joint trust can be structured so that when one spouse passes away, the trust is split into two subtrusts: a survivor’s trust and a decedent’s trust.

You have several different options when it comes to creating the right estate plan. Some people believe that a revocable living trust is the best way to go, while others think that a last will and testament (commonly known as a will) is best under certain circumstances. Others may find that a combination of both—through the use of a testamentary trust—provides the right amount of control and protection for themselves and their loved ones.