If you are wondering why you would need an estate plan before you have children, you are not alone. Many people assume, incorrectly, that they only need an estate plan when they need to appoint guardians for minor children in their will. If you’re 18 or older, you need a comprehensive estate plan; before then, you are covered by your parents’ estate plan. No Legal Authority When Children Attain the Age of 18 Once you attain the age of 18, your parents are no longer able to make legal and … [Read more...] about Why Would I Need an Estate Plan Before I Have Children?
Blog – Latest Articles and Updates
How Revocable Living Trusts Provide Incapacity Planning
One of the most important benefits of revocable living trusts for you during your lifetime is incapacity planning. Incapacity (or disability) can occur at any time; and, it often arises unexpectedly. A stroke, car accident, or head injury can leave you unable to manage your day to day business affairs and financials. You Determine the Definition of Your Disability Your revocable living trust will define your disability so that it’s clear when authority passes from you to your named … [Read more...] about How Revocable Living Trusts Provide Incapacity Planning
How Can Asset Protection Planning Help?
When creating your estate plan, you may consider asset protection planning. You can maintain control over how your assets are used after your death. In addition, asset protection planning best ensures that your loved ones are able to hold on to these assets, even during difficult times. What can asset protection do? Asset protection can allow you to keep the assets you pass to your loved ones safe. With asset protection, you won’t have to worry about losing important assets during life’s … [Read more...] about How Can Asset Protection Planning Help?
How to Choose a Guardian for Your Minor Child
When creating your estate plan, you will need to appoint a guardian for the care of your minor child. This will allow you to make sure that your child is always cared for, loved, and protected. If you’re having trouble making this difficult decision, take a look at some of the information below. This will help you carefully consider your options. If you have any questions about choosing a guardian, or if you’re ready to discuss your estate planning needs, meet with an estate planning … [Read more...] about How to Choose a Guardian for Your Minor Child
4 Estate Planning Tools to Consider (part 2 of 2)
If you’re just beginning to consider your estate planning needs, you should look into the use of different documents and tools. This will allow you to develop a plan that meets all of your needs. Take a look below to better understand some of your options. If you have any questions, or if you’d like to start your estate planning, contact an estate planning attorney. Create a living will If you’re looking to have more protection during possible incapacity, it’s a good idea to execute a … [Read more...] about 4 Estate Planning Tools to Consider (part 2 of 2)
4 Estate Planning Tools to Consider (part 1 of 2)
When beginning your estate planning affairs, you may have a hard time deciding on the best planning tools. The differences between documents can be confusing, as well as how your plan will work. However, your estate planning attorney will guide you. Below is a discussion of basic estate planning tools that most people need. Create a will Everyone, age 18 or older, needs his or her own will. A will is key to keeping you in control even after you’ve died and ensuring that your wishes … [Read more...] about 4 Estate Planning Tools to Consider (part 1 of 2)
What Does an Estate Planning Attorney Do?
Sometimes, our clients aren’t sure that they should be in an estate planning attorney’s office. They are unsure what an estate planning attorney really does and think estate planning is just for people named Gates, Kennedy, and Rockefeller. In truth, absolutely everyone needs a strong, comprehensive, individualized, up-to-date estate plan. Bottom line: An estate planning attorney helps people protect themselves, their family, and their assets. They help people just like you carry out their … [Read more...] about What Does an Estate Planning Attorney Do?
4 Important Estate Planning Actions Parents of Young Children Need to Take Now
Sometimes parents of young children are very motivated to do their estate planning because they want to protect their children and make sure that they’re always provided for. And, sometimes, parents of young children are overwhelmed by life and have trouble getting around to doing their estate planning. No matter your life situation, there are 4 important estate planning actions parents of young children need to take. Name guardians in your wills Meet with a qualified estate planning … [Read more...] about 4 Important Estate Planning Actions Parents of Young Children Need to Take Now
Will I Lose Everything to the Nursing Home?
We often have elderly clients and their adult children come into our office with the fear, “Will I lose everything to the nursing home? Fortunately, there are often options to alleviate this fear and protect assets. Ryan and his elderly father, John, age 71, come into the office for a Medicaid/nursing home consultation. John is still living independently but is concerned about his future. He doesn’t want to be a burden on Ryan and his sisters and he doesn’t want to spend any more of his … [Read more...] about Will I Lose Everything to the Nursing Home?
Three Ways To Create a Trust
A trust is a powerful estate planning tool, and there is more than one way to create a trust, including… Totten Trusts When you wish to create a simplistic trust with a relatively small amount of cash, some people choose to create a Totten Trust, which is also referred to as a Payable on Death, or POD, account. A Totten Trust is a relatively simple arrangement since there is no detailed trust agreement, but rather a simple form provided by many financial institutions that allows you to … [Read more...] about Three Ways To Create a Trust
