Making an estate plan is important to protect your legacy, and so is updating it. Your life changes over time, and your plan may need to change with it. In fact, here are five life situations that should prompt you to examine your estate plans closely to see if modifications are in order. 1. Getting married If you have gotten married, you have now intertwined your life and finances with your spouse. You need to update your estate plan accordingly. If you had a plan in place that left most … [Read more...] about 5 Lifestyle Changes That Should Prompt You to Update Your Estate Plan
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Why New Parents Need an Estate Plan More Than Ever
After adding a baby to your family, life gets crazy in the most wonderful of ways. You have a lot of new tasks on your to-do list to take care of your new bundle of joy. Those tasks probably center around feedings, laundry, and diapers. However, you must also do something else, which is just as important as all the hands-on care you’re offering. You need to make an estate plan to ensure that your new child will be provided for no matter what happens to you. Here are a few key reasons why … [Read more...] about Why New Parents Need an Estate Plan More Than Ever
Tread Carefully with Specific Bequests
Parents often decide to leave one child a specific asset and provide an equalizing cash bequest to the other. This article by my friend and colleague Tereina Stidd, an estate planning expert, explores how specific bequests may provide unintended results. Read on to learn more. … [Read more...] about Tread Carefully with Specific Bequests
A Message from the Murdochs
Art often imitates life and the latest drama surrounding Rupert Murdoch demonstrates that. Most of the time, when an individual creates an irrevocable trust, they part with dominion and control over the assets, and it is difficult to change the terms. As explained by my friend and colleague Tereina Stidd, an estate planning expert, not long ago, Rupert Murdoch filed a petition in Nevada probate court to change the terms of an irrevocable trust that was originally created in 1999. Read on to … [Read more...] about A Message from the Murdochs
What Independence Day Teaches Us About Estate Planning
We recently celpebrated the 4th of July which reminded us of our flag, freedom, and fireworks! It should also cause us to reflect upon what freedom means to us. Creating an Estate Plan provides a level of individual freedom – a peace of mind regarding your family’s well-being and the legacy that you leave for them once you are gone. My friend and colleague Tereina Stidd, an estate planning expert, shares her thoughts on the topic. Read on to learn more. … [Read more...] about What Independence Day Teaches Us About Estate Planning
Who Can You Turn to When Your Brother Doesn’t Do His Job?
Most Estate Planning attorneys will tell you that creating an Estate Plan helps prevent litigation after death. That statement needs a caveat. Most of the time, a properly created Estate Plan will prevent litigation. As this article by my friend and colleague Tereina Stidd, an estate planning expert, demonstrates, sometimes, even with an Estate Plan, the family ends up in litigation. Read on to learn more. … [Read more...] about Who Can You Turn to When Your Brother Doesn’t Do His Job?
Top Reasons Hiring a Lawyer to Make a Will or Trust is a Smart Move
Most people are familiar with what a will is and how a will or trust works. In fact, wills and trusts are so common that many people also think they can make one without getting legal help -- especially since there are templates that are available online. The problem, however, is that making a will or trust without the proper professional guidance from an attorney is something that you could end up regretting. Our fiem can provide you with help in creating a last will and testament or trust … [Read more...] about Top Reasons Hiring a Lawyer to Make a Will or Trust is a Smart Move
Will Your Heirs Be Better Off With Trust Administration or Probate?
Probate is the typical process that is used to transfer assets after someone has passed away. The probate process involves going to court, where the court will determine both if a last will and testament exists and is valid. If the will is valid, then estate assets will be distributed in accordance with its terms, but if there is no will, then state intestacy laws dictate who will inherit the property that you have left behind. While this process is the most common way to settle an estate, … [Read more...] about Will Your Heirs Be Better Off With Trust Administration or Probate?
Key Reasons You Should Make an Incapacity Plan Today
Incapacity planning is not necessarily something that everyone thinks about very often -- especially young people who are in pretty good health. However, despite the fact that considering these issues might not be very pleasant, it is something that you need to think about. In fact, it is something that you should do as soon as possible if you don't already have an incapacity plan in place. Our firm can provide you with help putting a comprehensive incapacity plan in place. Give us a call at … [Read more...] about Key Reasons You Should Make an Incapacity Plan Today
Key Tips for Choosing Who To Name as Executor of Your Estate
When you are making a last will and testament as part of your estate plan, you are going to need to name someone who will be the executor or administrator of the estate. This is a person who you are entrusting with tremendous responsibility after your death, so the decision of who should be the executor of the estate is not one that you should take lightly. Our firm can provide you with help understanding the role of an executor so you can make the best and most informed choices as to who you … [Read more...] about Key Tips for Choosing Who To Name as Executor of Your Estate
