First and foremost, remember that costly conflict most often arises because the agreement process was not properly handled to begin with. The ideal time to surface conflicts is in the beginning of a relationship by creating clear boundaries and expectations, using the agreement process. The best agreement process will support both parties to share the parts of themselves they may typically hide while making an agreement, while at the same time, asking the hard questions they may not ask.
It’s often difficult to see the things we are hiding when making agreements, or to ask the challenging questions, and that’s why it’s so helpful to have a trusted advisor support you each time you are entering into an agreement with anyone, whether it be a new team member, a business partner, or a strategic partner.When the agreement process is used to create each of your agreements, and before you ever finalize a deal of any type, the number of expensive business disputes you will have will be greatly diminished, if not eliminated completely.
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Posts Categorized: Estate Planning
Can I Benefit from a Reverse Mortgage?
A reverse mortgage is a type of loan taken out against your home. With a reverse mortgage (as with a traditional mortgage) you are borrowing against your home equity which is the difference between your home’s market value and the amount you owe on your mortgage. The difference in a reverse mortgage is that you do not have to pay it back while you are alive. Instead, the loan is paid off after you pass away. READ MORE
How Does My Annuity Fit Into My Estate Plan?
As with many estate planning and financial issues, choices you make about your annuity can make a big difference for your loved ones. You want to make sure you’re setting your beneficiaries up with the right kind of death benefits with as little loss to taxation as possible. READ MORE
Planning for the Future (Without a Crystal Ball)
If you don’t yet have a will or trust, now is the time to explore getting one. If you have an “old” will or trust, now is the time to talk with me about whether you need an update. Modern families need modern estate planning solutions, and I am ready to help you create a flexible estate plan that works now, and will work in the future, even if the current tax laws change (even though no one has the proverbial crystal ball). READ MORE
New Baby? Time to Create Your Estate Plan
Estate planning is often one item that gets pushed back on nearly everyone’s to-do list. The reasons you might be delaying vary: lack of time, not thinking you have enough assets, not knowing how to start, or fear of contemplating death. Whatever the reason for not putting an estate plan together, it is important to understand that if you just had a baby or have minor children – now is the time to meet with me to implement an estate plan. READ MORE
How A Living Trust Helps Your Family
There are several parts to an estate plan, one of them being a living trust. Common factors that prompt someone to create a trust include privacy, tax benefits, avoiding probate, and caring for family members with special needs. Estate planning also lets you dictate how your assets will pass on to future generations after your death. READ MORE
The Perils of Joint Property
People often set up bank accounts or real estate so that they own it jointly with a spouse or other family member. The appeal of joint tenancy is that when one owner dies, the other will automatically inherit the property without it having to go through probate. Joint property is all perceived to be easy to setup since it can be done at the bank when opening an account or title company when buying real estate.
That’s all well and good, but joint ownership can also cause unintended consequences and complications. And it’s worth considering some of these, before deciding that joint ownership is the best way to pass on assets to your heirs. READ MORE
Do I really need an Estate Plan?
Virtually everyone who owns property could benefit from estate planning. Plus, estate planning covers more than just property. It’s also about ensuring someone you trust can make critical medical and financial decisions for you if you’re unable to do so due to incapacity. READ MORE
How Your Trust Can Help a Loved One Who Struggles with Addiction
Whether the addiction is alcoholism, drug abuse, or behavioral like gambling, we all want our loved ones to be safe and experience a successful recovery. A properly created estate plan can help. READ MORE
Which life events require an immediate estate plan update?
Since your family’s needs and circumstances are constantly changing, so too must your estate plan. Your plan must be updated when certain life changes occur. These include, but are not limited to: marriage, the birth or adoption of a new family member, divorce, the death of a loved one, a significant change in assets, and a move to a new state or country. READ MORE
3 Ways Your Trust Can Help a Loved One With Mental Illness
When a loved one suffers from a mental illness, one small comfort can be knowing that your trust can take care of them through the good and bad times. Do you have a family member or other loved one who could use the financial flexibility and structural support of a trust? Give me a call today, and together we’ll figure out the best ways to enhance your loved one’s life by finding the right estate planning tools to offer the most help. READ MORE
Do You Really Need a Trust?
Trusts are not simply just about avoiding probate. Creating a trust can give you privacy, provide ongoing financial support for loved ones, and protect you and your property if you are unable to manage your own assets. Simply put, the creation of a trust puts you in the driver’s seat when it comes to your assets and your wishes as opposed to leaving this critical life decision to others, such as a Judge. READ MORE
How to Protect Your Child’s Inheritance from His or Her Untrustworthy Spouse
Parents often complete their estate plan to provide for their children and ensure their hard-earned assets, family heirlooms, or closely held businesses stay within the family. A common question is asked about protect a children’s inheritance from a spouse in the event of untrustworthiness or divorce. Thankfully, there are many ways to structure your child’s inheritance to help ensure it will remain in the family for future generations. READ MORE
Choosing a Successor Trustee
A Successor trustee steps in for you in the event of incapacity and when you die. Since they have a lot of responsibility, they should be chosen carefully. This post explains how to choose a successor trustee. READ MORE
Estate Planning: 3 Reasons We Run the Other Way
While it is easy to run the other way when it comes to your estate planning, the process to complete your estate plan is not that bad and you will find the peace of mind of the plan will outweigh any objections to get started. READ MORE