The presentation establishes the necessary components of an effective estate plan. The seminar is presented in a case study format profiling the life of Bill and Mary Jones. Several scenarios are used to relay the impact of estate planning issues relating to probate, disability due to incompetence, protection of government benefits for special needs loved ones, second marriages, unmarried couples, minimization of federal estate tax and preserving the family legacy. Wills, living trusts, powers of attorney and health care directives are all represented in the presentation, as well as long term care and Medicaid planning. At its conclusion, the audience will have a clear understanding of their estate planning options and be equipped to make the choices needed for themselves and their loved ones. You won’t want to miss this seminar – it’s informative and easy-to-understand!

TO RESERVE YOUR SEATS AND FOR DATES, TIME AND LOCATION VISIT http://www.sinclairprosserlaw.com/local/estate-planning-seminars.aspx

SinclairProsser Law, LLC is a member of the American Academy of Estate Planning Attorneys.

Are you thinking of getting married?  You may have heard of pre-nuptial agreements but you are not sure if such an agreement is right for you.  Since many of my clients seek my advice after they have acquired a level of wealth, I am usually working on pre-nuptial agreements to make certain the assets acquired during a lifetime are left to a person’s family prior to the new marriage and are not left to a new spouse.  In this scenario a pre-nuptial agreement can be a significant estate planning legal tool.

When entering into a pre-nuptial agreement, you will have to fully disclose all of your assets and income to the other party.  The agreement must be in writing and each party must have an opportunity to have legal representation.

There are many issues to address in a pre-nuptial agreement, but let me list a few of the common ones: What happens if the newly married couple purchases a home together?  How will it be titled?  What happens to the home when one of the spouses dies?  If one party sells their home and moves in with the other party, what protection does the spouse have if the spouse who owns the home dies?

As you go forward in your life together, tangible personal property such as furniture, artwork and electronics much be considered and their ownership documented.  It is important to catalogue family heirlooms so those items can be returned to the family from which they originated.

401(k)s and other retirement plans must be handled separately.  In fact, you cannot establish your right to a 401(k) in a pre-nuptial agreement.  It must be addressed when you are a spouse.  Often when I prepare a pre-nuptial agreement, I will also prepare a post-nuptial agreement to deal with the retirement plans.

A word of caution: If your spouse goes into a nursing home, a pre-nuptial agreement will not protect your assets.  If you are married you must use your assets to care for your spouse even if you have a pre-nuptial agreement in place.  It is important to determine how long-term care expenses will be paid.  Does your future spouse have enough assets to pay for their care?  Do they own long-term care insurance?  These questions must be answered to ensure your long term financial security.

As you can see, a pre-nuptial agreement takes time and consideration, but can give both spouses peace of mind for their future together.

SinclairProsser Law, LLC is a member of the American Academy of Estate Planning Attorneys.

“Prenuptial Agreements” by Attorney Colleen Sinclair Prosser

SinclairProsser Law, LLC is a member of the American Academy of Estate Planning Attorneys.

Don’t forget to tune in today to WNAV Radio on 1430 AM or 99.9 FM @ 3:50 pm to listen to Your Estate Matters with Attorney Colleen Sinclair Prosser.  The topic is Pre-Nuptial Agreements.

SinclairProsser Law, LLC is a member of the American Academy of Estate Planning Attorneys.

Legacy planning is a rewarding aspect of estate planning.  It’s truly a feel good, I love you planning.  Legacy planning is about passing on a part of who you are to those you love.  Here are 5 ways to leave a legacy.  You certainly are free to develop your own legacy.  Creativity is encouraged.

• Leave an Ethical Will: An ethical will is like a love letter.  You write whatever you want to express to your loved ones.  Perhaps, you’d share your love for them and your hopes for their future.  Perhaps, you’d encourage a life philosophy, higher education, or extended family vacations.

• Encourage Behavior Financially: You can set up trusts with funds and instructions that encourage the behavior you would have encourage if you were then living.  Some people choose to encourage higher education, entrepreneurship, or community service.

• Charitable Planning: You can leave a legacy in your community by incorporating charitable planning into your estate plan.  You can create your own private foundation and appoint your granddaughter to run it; you can donate funds to buy books for your local library; or you can set up a charitable remainder trust to provide an income stream to you and then benefit your beloved alma mater at your death.

• Making Memories: You can fund extended-family vacations for your children and grandchildren, ensuring that everyone finds time to spend together.  You could include instructions in your trust to pay for gymnastics, music lessons, or summer camp for the grandkids.

• Preserving Memories: You can make video tapes, keep a journal of your thoughts about each child, or make scrap books, or write poems, preserving family memories.

Legacy planning is an integral and fun part of estate planning and a good way to pass down traditions and memoirs through the generations.

SinclairProsser Law, LLC is a member of the American Academy of Estate Planning Attorneys.