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Estate Planning, Wills and Trusts
November 13, 2020

As we focus on what we are grateful this time of year, we often look to cherished traditions and memories with loved ones – cooking holiday dinners, volunteering at charities together, and in general spending time together.  It is instances like these, among others, we can preserve and pass on to our loved ones along with our financial wealth. Did you know that you can include in your estate plan, stories and experiences or guideline and “guidelights”? What is referred to...

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Estate Planning, Wills and Trusts
October 23, 2020

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...

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Estate Planning, Powers of Attorney, Wills and Trusts
October 22, 2020

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...

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Estate Planning, Health Care, Powers of Attorney, Wills and Trusts
October 21, 2020

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...

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Estate Planning, Health Care, Powers of Attorney, Wills and Trusts
October 19, 2020

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...

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Estate Planning, Wills and Trusts
June 26, 2020

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...

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Estate Planning, Powers of Attorney, Wills and Trusts
October 21, 2019

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...

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Asset Protection, Estate Planning, Health Care, Powers of Attorney, Wills and Trusts
August 7, 2019

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...

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Estate Planning, Wills and Trusts
February 16, 2019

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...

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Estate Administration, Estate Planning, Marketing, Wills and Trusts
February 5, 2018

Do you own property as joint tenants? Have you considered the planning pitfalls of this way of owning property? Ownership as joint tenants is so pervasive in our society that we don’t look at its downsides. In joint tenancy, each person owns the entire asset, not a part of the asset. This legal fiction of two or more people owning 100 percent of the same asset is derived from the full name given to joint tenancy: joint tenancy with right of...

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