Posts Categorized: Estate Planning

Myths We Tell Ourselves About Estate Planning

Estate planning can be a very difficult process to start without the right guidance. Making the decision to move forward with the planning requires us to face our mortality and this thought can stop many people right in their tracks. Others talk themselves out of seeing a qualified attorney to put together an estate plan based on some of the following common myths: READ MORE

The Real Cost To Your Family: Not Updating Your Estate Plan

This is the final article in a series discussing the real costs to your family for failed estate planning. This article continues the discussion of the most common and costly planning mistakes encountered. Here, I discuss how not updating your estate plan will likely result in a failed estate plan. READ MORE

The Real Cost To Your Family: Relying On A Will Alone

This is the third post on the discussion of the true costs and consequences of failed estate planning. The series highlights a few of the most common—and costly—planning mistakes we encounter with clients. This article discusses why having a will alone may result in your family suffering by having to go to court when you are gone. READ MORE

The Real Cost To Your Family: Having No Estate Plan At All

This is a continuation of the discussion of the true costs and consequences of failed estate planning. Here I discuss a few of the most common—and costly—planning mistakes I encounter with clients. If this article exposes any potential gaps or weak spots in your plan, meet with me to learn how to properly address them. READ MORE

5 Estate Planning Must-Dos if You’re Getting Divorced—Part 2

Because getting divorced can be overwhelming on so many different levels, updating your estate plan often takes a back seat to other seemingly more-pressing priorities. But failing to update your plan for divorce can have potentially tragic consequences, some of which you may have never even considered before. READ MORE

Is Your Estate Plan Unfinished? Don’t Wait to Complete This Important Process

For most people, thinking about one’s own mortality is unpleasant and low on the list of priorities. While you may objectively recognize the need to plan for your future – and the future of your loved ones after you’re gone – it can be hard to summon the motivation to actually create a will or trust. If you’ve made an effort to begin the process but haven’t finalized the details, consider this article the sign you need to finish up. READ MORE

My Trust is Signed, No Probate for My Family, Right?

Planning ahead has obvious benefits. Whether you’re planning a vacation or researching for a job interview, it’s always smart to outline your priorities and anticipate potential challenges that may arise. Planning your estate has similar benefits. With plans clearly established, your wealth and assets are protected should you pass away or become incapacitated. It’s important to be aware, however, that simply meeting with an attorney and signing a Trust does not mean your estate planning process is complete. Without properly funding your Trust, your assets could still be forced through the probate process. READ MORE

Loan, Gift, or Advancement: Why the Classification Matters

While we all want to provide financial help to our loved ones—whether they are family or close friends—it is important to understand that how the money is classified will directly affect your estate planning. Accordingly, the intent behind the transfer of the money is key when determining if it will be considered a loan, gift, or advancement. READ MORE