Posts Categorized: Wills

Gene Hackman’s Estate: A Wake-Up Call 

The recent passing of Gene Hackman and his wife, Betsy Arakawa, sheds light on estate planning issues many families overlook – especially the risks of outdated documents and not planning for simultaneous deaths. While their 2005 estate plans attempted to address some key concerns, gaps still remain that could lead to confusion or unintended consequences. Their story serves as an important reminder of why it’s crucial to not only have a plan, but to have one that’s up to date, accounts for complex family dynamics, and includes clear instructions for every possible scenario. READ MORE

The Future of Finances: How to Teach Your Kids to Be Money Savvy

Teaching your kids how to manage money is one of the most important life lessons you can pass on—and it starts with your own financial habits. At Cheever Law, APC, we believe the best way to raise financially savvy children is to lead by example and involve them in real-life money conversations, including your Life and Legacy Planning. By being intentional with your financial choices and inviting your children into the process, you not only secure your own future but also set them up for lifelong success. READ MORE

Why Reviewing Your Trust Regularly Isn’t Optional – It’s Essential

Creating a trust is a great way to protect your assets and loved ones, but it’s not a “set it and forget it” document. Life changes – marriage, divorce, new children, financial shifts—and so do laws that impact your estate. If your trust isn’t updated regularly, it may not work as intended, leading to probate, family disputes, or unexpected taxes. Reviewing your trust every three to five years, or after major life events, ensures it continues to protect your family and reflect your wishes. At Cheever Law, we make the process simple – schedule a trust review today and keep your plan working for you. READ MORE

Ready to Write Your Will? Consider This Before Doing It Alone or Online

Creating a will is an important step in planning for the future, but doing it alone or using an online service could lead to costly mistakes. A will is just one part of a complete estate plan that ensures your loved ones are protected and avoids court battles or unnecessary complications. Without proper planning, your assets could end up in the wrong hands, your children may not have the protection they need, and your family could face unnecessary legal and financial burdens. Before writing your will, it’s crucial to understand what you truly need to keep your family out of court and conflict. At Cheever Law, we help you create a solid estate plan that honors your wishes and secures your loved ones’ future. READ MORE

What Women Need to Know About Estate Planning

Estate planning is especially important for women, who often face unique financial challenges such as longer life expectancies, lower lifetime earnings, and career breaks for caregiving. Without a solid plan, assets may be tied up in probate, children may end up with court-appointed guardians, and financial security could be at risk. From naming legal guardians for minor children to setting up wills, trusts, and powers of attorney, estate planning ensures that your wishes are honored and your loved ones are protected. Taking the time to plan today can provide peace of mind and financial security for the future. READ MORE

Beyond the FDIC Safety Net: How to Protect Your Cash When Your Savings Exceed Insurance Limits

If your savings exceed FDIC insurance limits, it’s crucial to take proactive steps to protect your hard-earned money. While the FDIC covers up to $250,000 per depositor, per bank, per ownership category, you can maximize coverage by spreading funds across multiple banks, using different account types, or considering alternatives like credit unions, cash management accounts, and Treasury securities. A well-structured financial plan not only safeguards your assets but also ensures they align with your estate planning goals. Taking the time to review your banking setup today can help secure your wealth for the future. READ MORE

Till Death Do Us Part? Why Unmarried Couples Must Have An Estate Plan That Works For the People They Love

Love and commitment don’t always come with a marriage license, but the law still sees a big difference between married and unmarried couples. If you and your partner have built a life together – owning a home, raising kids, or sharing finances – you may assume that your partner will be taken care of if something happens to you. Unfortunately, without proper legal planning, that’s not the case. READ MORE

Talking to Your Family About Your Estate Plan

Talking to your family about your estate plan may feel uncomfortable, but it’s one of the most important conversations you can have. Clear communication now can prevent confusion, stress, and disputes later. By preparing ahead – choosing the right people for key roles, organizing your documents, and anticipating questions – you can make the discussion smoother and more productive. This isn’t just about legal documents; it’s about giving your loved ones clarity and peace of mind, ensuring they understand your wishes and can support one another when the time comes. READ MORE

Planning a Trip? Protect Your Children with a Kids Protection Plan

As you plan your next family vacation, don’t forget one crucial detail – ensuring your children are protected if something unexpected happens to you. A Kids Protection Planprovides legal documentation and emergency instructions so your children are always cared for by the people you trust, rather than being placed in the custody of strangers or social services. From naming temporary guardians to ensuring medical decisions can be made on their behalf, taking these simple steps now gives you peace of mind while you travel. Think of it as travel insurance for your child’s well-being – something you hope you’ll never need but will be grateful to have in case of an emergency. READ MORE

BOI/CTA UPDATE: Treasury Department Suspends Enforcement of Penalties

UPDATE: On March 2, 2025, the U.S. Department of the Treasury announced that it will not enforce any penalties or fines associated with the Corporate Transparency Act (“CTA”) reporting requirements against U.S. citizens or domestic companies. Rather, it plans to propose rules that narrow the scope of the CTA to foreign reporting companies only.  READ MORE

Protecting Your Rights: Estate Planning Strategies for Same-Sex Couples

Same-sex couples face unique challenges in estate planning, especially with the uncertainty surrounding marriage protections. While laws may change, the right estate plan ensures that your assets, healthcare decisions, and financial matters remain in the hands of those you trust. This blog explores essential legal tools—such as trusts, healthcare directives, and power of attorney—that safeguard your rights, no matter what happens. Don’t wait for uncertainty – take control of your future today with a Life & Legacy Plan that protects you and your loved ones. READ MORE

Estate Planning During Divorce: Lessons from Shannen Doherty’s Legacy

Shannen Doherty’s passing in July 2024 highlights the critical importance of estate planning during divorce. Just one day before her death, she finalized her divorce, ensuring her assets were protected and distributed according to her wishes. Without this step, her estate could have been subject to community property laws, potentially leading to legal battles. Many people make estate planning mistakes during divorce, such as failing to update beneficiaries, overlooking digital assets, or neglecting incapacity planning. This blog explores key steps to safeguard your assets and ensure your wishes are honored during and after divorce. READ MORE

5 Steps to Include Digital Assets in Your Estate Plan

In today’s digital world, your online assets – bank accounts, social media, cryptocurrency, and more – are just as important as your physical property. Without proper planning, your loved ones may struggle to access or manage these assets after you’re gone. In this blog, we’ll walk you through five simple steps to include digital assets in your estate plan, ensuring they’re protected and passed on according to your wishes. Don’t leave your digital legacy to chance – learn how to safeguard it today. READ MORE

The Unexpected Challenges of Being an Estate Executor

When someone asks you to be the executor of their estate, it might seem straightforward — but the role can be more complex, time-consuming, and emotionally challenging than expected. From covering funeral costs out of pocket to handling mountains of paperwork and navigating family conflicts, executors face unexpected burdens. The good news? Thoughtful life & legacy planning can ease the process, protect your loved ones, and prevent unnecessary stress. Read the full blog to learn how to make things easier for your future executor. READ MORE

Overlooking This Basic Part of Your Estate Plan Can Be Tragic

If your loved ones don’t know how to find or access your assets when you pass away, those assets could be lost forever. This happened in the case of QuadrigaCX’s owner, whose failure to document access to his cryptocurrency left $145 million unrecoverable. From digital wallets to online banking accounts, your life & legacy plan must include a complete inventory with clear instructions. Don’t leave your family in the dark – learn how to safeguard your assets and ensure they reach the right hands. Read more on our blog. READ MORE