It is true, a trust can be used to safeguard assets from estate taxes, however, that is not the extent of what a trust can accomplish. The two primary purposes of a trust are to manage assets during life and control their distribution at death. During life, a trust can address issues encountered in … [Read more...] about Trusts: Not Just for Estate Tax Avoidance
One of the biggest decisions you will face when creating your estate plan is picking your decision makers. Too often we hear, “I will just have both of my kids be my decision makers.” That is just asking for trouble. It does not matter that they are “best of friends” or “peas in a pod”, the fact … [Read more...] about Multiple Decision Makers is Asking for Trouble
I had an interesting conversation today with one of our clients. The sole purpose of them coming in to see me was to discuss whether they needed to have an A/B trust in place, which is what we had created for them. I asked what prompted them to ask that question and the response back to me was … [Read more...] about Do I need an A/B trust?
Another term for an estate plan should be a “legal vault”. The legal vault should be strong and sturdy to withstand any attack that may come against it. The question becomes, is your legal vault flimsy or solid to withstand what comes its way? For some people, establishing an estate plan appears to … [Read more...] about Should You Make End-Of-Life Plans on Your Own?
The biggest issue that I hear about “why” people don’t but their estate plan in place is that they don’t want to have face death. The fear is that by talking about it, it will happen. Our mortality is a humbling proposition, but talking about it, or avoiding it, does not change our ultimate … [Read more...] about Take Control – Make a Plan
Each July 4th, Independence Day, reminds us of America’s history. I recently read an article regarding the lives of the signers of the Declaration of Independence. What the article made clear is the sacrifice made by each and every one of the signers. Five of the signers were captured by … [Read more...] about Independence Day – We are Free
We have reviewed thousands of wills and trusts. Often we find when someone creates a Last Will or Living Trust they put it in a file or on a shelf and forget about it. Dust collects and life continues. But what impacts has life’s movements had on your estate plan? What about the individuals that … [Read more...] about Life Happens… Is your plan up to date?
My great aunt Barbara is now on FaceBook! She is the sweetest, nicest and best person you can ever hope to have a part of your life, but never in a million years would I have expected a “Friend” request from her. Just about all of us are on-line in some way or another. From printing your photos … [Read more...] about What Happens to your On-Line Presence when you Die
The television show “The Goldbergs” has some pretty funny moments. In this scene, http://www.youtube.com/watch?v=NFKUg1rs4IQ we learn an interesting “fact” about parrots. Tim Meadow’s character exclaims, “Oh also, I have a parrot that I can’t get rid of. They live for 80 years. Did you know that? … [Read more...] about Planning for Life’s Unexpected Turns
Thankfully, I have not needed to employ an attorney. I have heard too many horror stories of how expensive attorneys are. And sometimes, paying all that money to attorney is simply “not worth it.” And you are thinking, “aren’t you an attorney?” Yes, yes I am. The difference is, our practice … [Read more...] about Value in Flat Fees