Posts Categorized: Estate Planning

4 Things Trusts Can Do That Wills Can’t

by Tara Cheever ~ Attorney at Law February 22, 2020 Asset Protection, Estate Planning, Trusts, Wills

Both wills and trusts are estate planning documents that can be used to pass your wealth and property to your loved ones upon your death. However, trusts come with some distinct advantages over wills that you should consider when creating your plan.

That said, when comparing the two planning tools, you won’t necessarily be choosing between one or the other—most plans include both. Indeed, a will is a foundational part of every person’s estate plan, but you may want to combine your will with a living trust to avoid the blind spots inherent in plans that rely solely on a will. READ MORE

Kobe Bryant’s Untimely Death Highlights the Vital Need for Estate Planning at All Ages

by Tara Cheever ~ Attorney at Law February 15, 2020 Estate Planning

The death of Kobe, his daughter, and the others is overwhelmingly tragic and heartbreaking. The entire matter is terribly painful. It highlights our mortality and that our tomorrows are not promised. We cover these issues in hopes that it will inspire you to remember that life is not guaranteed, death can come at any moment, and your loved ones are counting on you to do the right thing for them now. READ MORE

The SECURE Act’s Impact On Estate and Retirement Planning—Part 1

by Tara Cheever ~ Attorney at Law January 24, 2020 Estate Planning, Retirement Planning

The changes ushered in by the SECURE Act have dramatic implications for both your retirement and estate planning strategies—and not all of them are positive. While the law includes a number of taxpayer-friendly measures to boost your ability to save for retirement, it also contains provisions that could have disastrous effects on planning strategies families have used for years to protect and pass on assets contained in retirement accounts. READ MORE

The SECURE Act: How Does It Affect Your Retirement Accounts?

by Tara Cheever ~ Attorney at Law January 8, 2020 Estate Planning, Retirement Planning

On December 20, 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act), which became effective on January 1, 2020. The Act is the most impactful legislation affecting retirement accounts in decades. It will have a positive impact for many older Americans but could have negative tax consequences for many beneficiaries of their retirement accounts. READ MORE

Productivity Tips for the New Year

by Tara Cheever ~ Attorney at Law December 26, 2019 Estate Planning

Are you feeling bogged down in a swamp of clutter, deadlines, and incomplete tasks? As we draw closer to the end of the year, make it your goal to do a few simple things over the course of a day or two that will result in increased productivity and peace of mind for 2020. READ MORE

4 Tips For Discussing Estate Planning With Your Family This Holiday Season

by Tara Cheever ~ Attorney at Law December 4, 2019 Estate Planning

The holidays offer an opportunity to visit with loved ones you rarely see and get caught up on what’s been happening in everyone’s life. And though it might not seem like it, the holidays can also be a good time to discuss estate planning. In fact, with everyone you love, from the youngest to the oldest, gathered together under one roof, the holidays provide the ideal opportunity to talk about planning. READ MORE

Buyer Beware: The Hidden Dangers of DIY Estate Planning—Part 2

by Tara Cheever ~ Attorney at Law November 22, 2019 Estate Planning

Online planning documents may appear to save you time and money, but keep in mind, just because you created “legal” documents doesn’t mean they will actually work when you (or most importantly, the people you love) need them. Without a thorough understanding of how the legal process works and impacts family dynamics upon your death or incapacity, you’ll likely make serious mistakes when creating a DIY plan. READ MORE

Buyer Beware: The Hidden Dangers of DIY Estate Planning – Part 1

by Tara Cheever ~ Attorney at Law November 15, 2019 Estate Planning

In this way, relying on DIY planning documents is one of the most dangerous choices you can make. In the end, such generic forms could end up costing your family even more money and heartache than if you’d never gotten around to doing any planning at all. At least with no plan at all, planning would likely remain at the front of your mind, where it rightfully belongs, until it’s handled properly. READ MORE

Myths We Tell Ourselves About Estate Planning

by Tara Cheever ~ Attorney at Law October 16, 2019 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