Posts Categorized: Trusts

Marriage has evolved significantly, with common law marriage being a lesser-known form recognized in a few states. While it can offer legal benefits, navigating its complexities is crucial, especially when planning for unexpected events like illness or death. Without proper documentation, surviving partners may face serious challenges regarding inheritance and decision-making rights. To ensure your wishes are honored and your loved ones are protected, consider scheduling a Life and Legacy Planning Session with us today! READ MORE

October 21-27 is National Estate Planning Awareness Week, a great opportunity to address common misconceptions about estate planning. Many people think it’s only for the wealthy or too complicated, but in reality, it’s essential for everyone, regardless of age or financial situation. An estate plan ensures your loved ones are taken care of, helping them navigate important decisions during difficult times. By creating a personalized Life & Legacy Plan, you can gain peace of mind and ensure your wishes are honored. Don’t let myths hold you back – take control of your future today! READ MORE

When creating an estate plan, many wonder if a disabled individual can serve as an executor or trustee. The answer is yes! As long as their disability doesn’t prevent them from fulfilling the necessary responsibilities, a disabled person can take on these roles. In fact, overlooking a trusted individual because of a disability could mean missing out on the best person for the job. Learn more about what it takes to choose the right fiduciary for your estate plan and how we can help. Schedule a Life and Legacy Planning Session today to ensure your plan is in good hands. READ MORE

In an unpredictable world, being prepared for disasters is essential for the safety of you and your loved ones. Our guide offers practical steps to help you create a go-bag, stock up on essentials, and invest in the right insurance coverage. We also emphasize the importance of establishing a Life & Legacy Plan to ensure your wishes are honored and your family is cared for in times of need. Join us in building a resilient future – let’s equip you with the tools and knowledge to navigate any challenge that comes your way! Ready to learn more? Schedule a Life and Legacy Planning Session with us today! READ MORE

Every year, around 600,000 individuals go missing in the United States, leaving their loved ones to face not only emotional distress but also significant practical challenges. From managing financial affairs to addressing property and debts, it’s crucial to tackle these issues promptly. After reporting a missing person to law enforcement, families should check for any existing legal documents, like a financial power of attorney, that could assist in handling their affairs. If such documents aren’t available, seeking a conservatorship may be necessary. Navigating these complexities can feel overwhelming, but you don’t have to do it alone. If you need guidance with the legal affairs of a missing loved one or want to discuss estate planning, we’re here to help – schedule a Life and Legacy Planning Session with us today. READ MORE

In an aging society, facing end-of-life decisions for loved ones can come sooner than expected. A recent story by Maggie Schneider Huston illustrates the emotional complexities involved. Maggie’s experience with her father’s advance directive highlights the importance of not only creating such a document but also ensuring that it is readily accessible and that your chosen advocates are prepared to stand up for your wishes. READ MORE

A community property trust can be a powerful tool for couples with highly appreciated assets, offering significant tax savings by stepping up the basis of jointly owned property when one spouse passes. In our latest blog, we explain how this type of trust works, its benefits, and how it fits into a broader estate plan. Not sure if it’s right for you? Learn more and schedule a Life and Legacy Planning Session with us to explore your options! READ MORE

A power of attorney (POA) is a powerful legal tool, but it may not work the way you expect. Many people assume a POA gives someone indefinite access to their finances, but it actually ends upon death. In our latest blog post, we clear up common misconceptions about POAs, explain the different types, and show you how a living trust can ensure your finances are managed without disruption. Ready to protect your legacy? Schedule a Life & Legacy Planning Session with us today! READ MORE

A financial power of attorney (POA) is essential for ensuring your financial affairs are managed according to your wishes if you become incapacitated. However, it’s important to know that a POA may not be recognized in certain situations, such as when dealing with the IRS, Social Security Administration, or certain financial institutions. Understanding these limitations can help you plan more effectively and avoid potential complications. In our latest blog post, we explore the nuances of financial POAs, their exceptions, and how you can safeguard your legacy. Schedule a Life and Legacy Planning Session with us to ensure your estate plan is comprehensive and up to date! READ MORE

As we age, the importance of estate planning becomes clearer, yet recent studies show a decline in will creation among seniors. In our latest blog, we address common questions seniors have about managing their affairs, traveling, and protecting their loved ones after they’re gone. Discover how financial and medical powers of attorney can provide essential support, and learn how trusts can help you secure your family’s financial future. Embrace your golden years with confidence – read more to find out how we can assist you in creating a comprehensive estate plan! READ MORE

Matthew Perry’s passing brought not only sorrow but also a fascinating look into the complexities of estate planning. Despite his reported net worth of $120 million, his bank account revealed only $1.5 million, raising questions about asset management and distribution. In our latest blog, we explore the importance of trusts in estate planning, highlighting how they can protect your assets, provide ongoing support for loved ones, and maintain your privacy. Discover the valuable lessons from Perry’s estate plan and learn how to secure your own legacy. Read on to find out how we can help you create a comprehensive Life & Legacy Plan! READ MORE

Navigating estate planning after a remarriage can be complex. Whether you’re dealing with updating beneficiary designations or ensuring your new spouse is considered in your plans, it’s crucial to address how remarriage impacts your estate. Learn how to review your existing plans, protect your assets, and communicate your wishes clearly. Discover how to ensure that your estate planning documents reflect your current situation and avoid potential conflicts. For expert guidance, contact us to schedule a Life and Legacy Planning Session. READ MORE

Have you ever thought about estate planning and wondered how it’s like making lasagna? Just like a lasagna recipe needs the right ingredients and steps to become a delicious dish, estate planning requires more than just having a will or trust. It’s about creating a comprehensive plan that outlines how your assets will be distributed, who will benefit, and how to avoid common pitfalls like lengthy court processes and family disputes. Without a complete estate plan, you might end up with a “recipe” dictated by the state’s default laws, which might not align with your wishes. Discover how to craft a plan tailored to your needs and preferences, ensuring your legacy is handled exactly how you envision. READ MORE

Bankruptcy might seem like a distant concern when crafting your estate plan, but it’s essential to consider its potential effects. Whether you’re facing bankruptcy yourself or concerned about a beneficiary, understanding how it impacts your estate can help you make informed decisions. In our latest blog, we explore what happens to your estate if you’re in bankruptcy at the time of your death, how to protect your assets from potential creditors, and strategies to ensure your beneficiaries receive their rightful inheritance. Discover practical solutions to safeguard your legacy and plan for any financial uncertainties ahead. Read the full blog to learn more! READ MORE