Regardless of your age, if you have dependents, you should look into creating a will, a trust or both. Putting those measures in place can help ensure your loved ones are not burdened with sorting out your financial affairs in the event of your death. Additionally, it can help offer stability for … [Read more...]
Five Estate Planning Strategies in COVID-19’s ‘Brave New World’
Five Estate Planning Strategies in COVID-19’s ‘Brave New World’ The sudden shock of COVID-19, social distancing, and sheltering-in-place has forced many individuals to review and address situations rarely discussed or considered, and new unthinkable realities. While many older folks … [Read more...]
5 Most Common Estate Planning Errors
Most families don’t receive their wealth through inheritance or winning the lottery, but rather through years of hard work and sacrifice. However, it always amazes me that although everyone understands that we are all going to die, a vast majority disregard estate planning completely. Here are five … [Read more...]
Children over 18? Parents Can No Longer Make the Decisions
Does a parent have the automatic right to make the decisions for their children over eighteen (18) years of age? In the past two weeks, I met with two families to assist them in their estate planning options. There was a common theme – each family thought that their children (all over 18) didn’t … [Read more...]
Penny Wise and Pound Foolish; Doing Your Estate Plan on the Cheap:
Most of us work very hard to accumulate our nest eggs. Sacrifice of time and energy, is often made to acquire the assets that we have. To ensure that these hard earned assets will be distributed where we want, how we want, and be managed by whom we want, it is critical to have the necessary legal … [Read more...]
Why You Need a Living Trust
This is the second piece of a four-part series on why you need a living trust. As mentioned in my previous blog, I recently read an article from a well-known business publication that provided four reasons why you don’t need a living trust. The second reason provided by the publication is: ~ … [Read more...]
Tom Brokaw’s Living Will:
The purpose of this blog is to recommend every American to outline directives for doctors to follow if they were ever in a Terry Schiavo situation. If you are unfamiliar with the Terry Schiavo case, a quick summary here will suffice: Terry Schiavo suffered a cardiac arrest in her home in … [Read more...]
The King’s Estate – B.B. King, That Is
Even before blues legend B. B. King passed on May 15, 2015 at the age of 89, dark clouds hung over his estimated $10 million estate. King is survived by eleven of his children, though King granted Power of Attorney to his longtime business manager, Laverne Toney. About a month ago, one of King’s … [Read more...]
7 REASONS ESTATE PLANNING IS BENEFICIAL FOR EVERYONE
Estate planning for your potential disability. If you were to become disabled, what would your family do? In the absence of an estate plan, your family members would be required to go to court in order to have you declared incompetent and to appoint a conservator/guardian. However, a Living Trust … [Read more...]
You have an 18 year old? Now What!
Does a parent have the automatic right to make the decisions for their children over eighteen (18) years of age? This past week I met with three new families to assist them in their estate planning options. There was a common theme – each family thought that their children (all over 18) didn’t need … [Read more...]
