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Happy Groundhog's Day! When you think of Groundhog's Day you may think of Punxsutawney Phil who checks for his shadow each year to forecast changes of the season. Or you may think of Bill Murray reliving the same day over and over. For some of us, there may be moments in our lives where we also feel like we are stuck reliving the same day (hello 2020).  However, the truth is, change happens. And some changes in our lives trigger the need...

As we ring in a new year it is a common time to take stock on what was accomplished over the previous year. Looking back at 2020, it is definitely a year to focus on your “wins” and what you were able to make happen. Maybe you picked up new hobbies, learned new skills, or worked on projects that you previously put off. Hopefully, you were able to find a balance in your life and a way to remain connected...

We'd like to end this week by discussing some of the common reasons individuals have not created a plan. "I don't have the time." We commonly hear this in our office. Individuals are interested in estate planning or it is something they have been trying to get to for a while but keep putting off as other things come up. Unfortunately, however, it is something you can only put off for so long. Our lives can, and do, change rapidly.  Having an estate...

Proper funding is an essential step in the estate planning process. Funding is designating beneficiaries on your accounts and policies, as well as transferring assets into the name of your trust.  Making sure you have your funding complete means your estate plan will work how you intend it to.  Naming beneficiaries on your account can help ensure who receives your assets. If you have no listed beneficiary, then the state controls who gains possession of your assets. For some, this would be...

If you read our last post on the different things that can go into an estate plan, you may have thought to yourself, “I had a basic will and powers of attorney drawn up years ago, I’m all covered” and went about your day. But, if that is the case, ask yourself has anything changed in your life since you have made your plan? A follow up question is, will the plan still work?  For your estate plan to work properly it...

The third week of October has been designated by Congress as National Estate Planning Awareness Week. The goal for this week is to highlight the importance of estate planning and how planning can benefit you.  The Resolution by Congress noted "the implementation of an estate plan starts with sound education and planning," and then the drafting of legal documents.  Our office couldn't agree more, and we are dedicating this week to articles, quick posts to think about, and a webinar on our...

With everyone spending significantly more time at home, many people have taken time to work on projects they had previously put off, learn new skills, and organize their living spaces. But, while cleaning your basement, learning how to give your dog a trim, or remodeling a room in your house are all beneficial, there are certain projects you should think twice before you try to "Do It Yourself." An estate plan you can try to create for yourself but it may...

In September of 2008, Congressional leaders passed House Resolution 1499 declaring the third week in October as “National Estate Planning Awareness Week.” Resolution 1499 estimated over 120,000,000 Americans did not have up-to-date estate plans to protect themselves or their families in the event of sickness, accidents, or untimely death. More recently a 2019 survey, carried out by Caring.com, found 57% of adults in the United States have not prepared any estate planning documents such as a will or trust, despite the fact that 76% of the surveyed adults...

Estate planning may be something you only associate with older adults – those with families that span multiple generations, retirees who have accumulated wealth from work and various retirement and investment plans, or elderly individuals who require assistance through at-home care or nursing homes. But estate planning can be beneficial to young adults as well. The following tools can help an individual plan for many different occasions, no matter what age. If there is an accident that causes incapacitation, most young adults would want their parents’ or spouse’s...

After we now have passed Chinese New Year, it’s a great time to check in with yourself on how you are doing with your New Year’s resolutions. You would not be alone if you haven’t stuck with them as much as you would have liked to – studies have shown most individuals don’t keep their resolutions for the entire year, and some don’t make it past the beginning of February.  But before you say, “well there’s always next year” you can...