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? Nobody tells you about that. You have to put them in your Will. It’s a nightmare.”
Life is not always scripted. Life sometimes throws surprises into our mix that have unexpected consequences. When thinking about your legacy and developing your estate plan, be sure you are thinking beyond just leaving what to whom. You need to think about protecting that inheritance for life’s unexpected turns.
Often we make the mistake of thinking our estates are merely sums of money that we have accumulated. It can make us think we do not have much to pass along, let alone protect, upon our passing. Even if your home is your one “big” asset to leave to your children, would you want it to be lost to a bankruptcy proceeding or in a nasty divorce? What about the cost for care of a beloved pet upon your passing? The inheritance you leave to your children could be diverted down any of these avenues. When properly planned, the inheritance and legacy you leave can be protected, stay within your family and to be spent for the benefit of your loved ones.
This post began on a light-hearted note to pass on a serious message: Do not overlook the “little” things when creating your estate plan. While many get caught up thinking about how much they have to leave behind, we often do not put enough time thinking about how we choose to leave those things behind. With the help of a licensed estate planning attorney, you can be assured that you have considered enough of the possibilities life may throw before your children to adequately protect the legacy you leave for them.
Contributed by Morris Hall, PLLC Phoenix Estate Administration Supervisor, Heidi Harris.
Why Choose Morris Hall, PLLC:
You have a number of options when it comes to estate planning, so why pick Morris Hall? First off, estate planning and asset protection are a very complicated endeavor and you should only trust someone who focuses exclusively on those matters. Also, Morris Hall is a proud member of The American Academy of Estate Planning Attorneys (AAEPA) which provides us additional support, advanced training, tools and information that is not available to others – which means that we can better protect your assets and your loved ones. We are one of only three firms in Arizona that belong to the AAEPA and are the only firm in New Mexico that has been granted membership. If you have assets and loved ones that you want to protect, you are in good hands with Morris Hall. Contact us today at 888.222.1328 to schedule an appointment!
This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.