I have been considering getting an estate plan prepared but I do not know where to start. I do not know who to name as my trustee or executor. I am unsure of who I want to make health care decisions on my behalf. I do not know how I want my assets distributed upon my death. There is no way I can get started without this information, so I will continue to put it off. If this sounds familiar, … [Read more...] about Roadblocks in Estate Planning
Oftentimes in my consultations, I hear the refrain, “I am uncertain as to what is going to happen, so I do not know what I should do.” This comment is usually in reference to either the client’s own personal situation, such as a move or a family conflict, but it may be in response to legal or geopolitical uncertainty. The question is then, how do we prepare an estate plan in times of … [Read more...] about Estate Planning During Uncertain Times
Leaving money to a grandchild can be more complicated than it appears at first glance. Here are some of the frequent questions that come up during my consultations, along with factors to consider. Q: Can I just name my grandchild as a beneficiary on my life insurance policy? A: You could, however this could make things more complicated when you pass away. For example, if the grandchild is … [Read more...] about Leaving an Inheritance to Grandchildren
"Safeguarding Original Documents Is Important!" by Attorney Victor Lembo (Audio) In this electronic age of copy machines, fax machines, and scanners we often lose sight of the distinction between an original document and one that has been copied, faxed, or scanned. However, at times, especially in estate planning, there is no substitute for an original. J. Douglas King’s family found out … [Read more...] about Safeguarding Original Documents Is Important!
"Protecting Your Child's Inheritance from Divorce" by Attorney Colleen Sinclair Prosser (Audio) Many clients worry about their son-in-law or daughter-in-law divorcing their child and walking away with a big chunk of their estate. And why shouldn’t they worry? With a divorce rate in America topping every other country, the chances of your kids having a long and happy marriage are not good. … [Read more...] about Protecting Your Child’s Inheritance from Divorce
"How Much is Too Much?" by Attorney Jon Gasior (Audio) We all want to help our kids financially, but how much is too much? Businessman billionaire Warren Buffet was quoted in a 1986 Fortune article that, even if you had ample wealth, one should leave your kids “enough money so that they would feel they could do anything, but not so much that they could do nothing.” Bill Gates, Warren … [Read more...] about How Much is Too Much?
"End-of-Life Planning: Estate Planning at its Core" by Attorney Colleen Sinclair Prosser (Audio) As estate planning attorneys, we do many things for clients, including: Helping clients plan for their disability by assigning an agent who will manage their assets and care for them when they are unable to do so themselves Provide guidance on what will happen with their worldly belongings … [Read more...] about End-of-Life Planning: Estate Planning at its Core
"Why an LLC Is Better Than a Sole Proprietorship" by Attorney Alex Pagnotta (Audio) An LLC is a type of business entity that is an alternative to a sole proprietorship or a corporation. LLCs are a good option for many business owners who want more protection from liability than a sole proprietorship or a partnership would provide. LLCs can also be used in estate planning. If you are … [Read more...] about Why an LLC Is Better Than a Sole Proprietorship
"How Can Estate Planning Attorneys Help Business Owners?" by Attorney Laura T. Curry (Audio) Estate planning attorneys provide help to people who own businesses who want those businesses to survive even after the owner's death or departure. If you want your business to serve as your legacy and be handed down to the next generation, you need to ensure that you are prepared for what could happen … [Read more...] about Estate Planning for Business Owners
"The Importance of Communicating Your Plans" by Attorney Jon Gasior (Audio) Whether or not we plan to do so, each of us will face death eventually. However, by planning we can make our passing easier and better in many ways for those we leave behind. This article focuses on the importance of communicating your plans to your family to avoid problems after your death. Death is seldom easy for … [Read more...] about The Importance of Communicating Your Plans