Posts Categorized: Wills

In the world of estate planning, understanding the HEMS standard – standing for “health, education, maintenance, or support” – is crucial for effective trust management. This standard guides trustees on permissible distributions to beneficiaries and helps prevent tax consequences and asset protection issues. In our latest blog post, we explore the reasons behind incorporating HEMS in trusts, including its tax benefits and asset protection features. We also provide practical examples of what qualifies as a HEMS distribution. Ready to learn more about securing your legacy? Reach out to schedule a Life and Legacy Planning Session today! READ MORE

In this third installment of our Celebrity Estate Plans Series, we delve into Jay Leno’s real-life case to uncover the critical importance of planning for incapacity. While Jay Leno’s fame may have brought his situation into the public eye, the lessons from his experience are universally relevant. Discover how incapacity planning can prevent your loved ones from facing unnecessary court battles, financial delays, and public exposure. Learn why having a comprehensive Life & Legacy Plan is crucial to ensure your affairs are managed seamlessly and privately, regardless of life’s unexpected turns. Ready to protect your future? Schedule a Life and Legacy Planning Session with us today. READ MORE

When it comes to estate planning, open communication with your spouse is crucial. From knowing where important documents are kept to discussing burial arrangements and thoughts on remarriage, addressing these topics can prevent confusion and stress for your loved ones. In our latest blog, we break down four essential conversations every couple should have to ensure a smooth transition and safeguard your family’s future. Don’t leave your spouse with unanswered questions – read on to find out how you can create a comprehensive plan that truly reflects your wishes. READ MORE

In this installment of our Celebrity Estate Plans Series, Vanilla Ice shares valuable insights on estate planning through his own experiences. From tackling estate taxes to maximizing life insurance benefits and utilizing trusts, Vanilla Ice offers practical advice to safeguard your assets and ensure they benefit your loved ones for generations to come. Discover the lessons from Vanilla Ice’s journey and learn how to create a solid estate plan that aligns with your goals and aspirations. READ MORE

As an executor or trustee, ensuring assets reach their intended beneficiaries is crucial. But what happens when a beneficiary is missing? Here’s a glimpse into the steps and considerations involved in locating beneficiaries, including the use of heir search services and the importance of legal guidance. Stay informed to navigate these complexities effectively and protect your fiduciary responsibilities. READ MORE

In our exploration of Michael Jackson’s estate plan, we uncover valuable lessons applicable to everyone, regardless of fame or fortune. Despite his global influence, Jackson’s oversight in estate planning, relying solely on a Will instead of a trust, led to prolonged legal battles and public scrutiny for his family. This highlights the critical importance of comprehensive estate planning and the role of a successor trustee in safeguarding assets and family harmony. Learn from his story to ensure your loved ones are protected with a well-thought-out estate plan. READ MORE

As you celebrate the Fourth of July, embrace the ultimate American liberty: the right to decide your own affairs, even after death or in the event of incapacity. Learn how a Life & Legacy Plan empowers you to preserve self-determination, protect your family, grow your wealth, and define your legacy. This comprehensive estate planning approach ensures your wishes are honored, evolves with you, and minimizes stress for your loved ones. Make your own declaration of freedom and secure your legacy with a Life & Legacy Plan today. READ MORE

Joint tenancy with rights of survivorship (JTWROS) is a common form of property ownership in the United States, offering an undivided right to enjoy the property and a seamless transfer to the surviving joint tenant upon death. While this method is attractive for its simplicity and low cost, it can lead to unintended legal consequences. Explore the benefits and potential pitfalls of JTWROS, and learn about the various methods for severing joint tenancy when necessary. Ensure your estate planning aligns with your wishes by consulting an experienced attorney. READ MORE

Did you know that your physical health can have a profound impact on your estate planning? As we mark Men’s Health Month, let’s explore how good health extends beyond just longevity and quality of life—it’s also crucial for setting up a robust estate plan. A strong estate plan ensures your wishes are respected throughout your life and even after, making it as important as your physical well-being. READ MORE

Conversations about death and dying can be uncomfortable, but they’re essential for ensuring your parents’ wishes are honored. This blog explores the importance of discussing estate planning with your parents, offering practical tips on how to approach the topic. Learn how to navigate these sensitive conversations, involve all necessary parties, and review existing plans to build a solid foundation for your family’s future. Don’t wait – take steps now to secure your parents’ legacy and provide peace of mind for everyone involved. READ MORE

When your child turns 18, they’re legally considered an adult, even though they still have a lot more growing to do (though they might not think so!). Just like any other adult, their health and financial information is protected by privacy laws. But you can still step in and help them if you and your child plan ahead. In our latest blog, we share three essential strategies to help you and your child navigate this important transition: education, communication, and legal planning. Learn how to support your newly-minted adult through this critical phase and ensure you’re able to step in if needed. READ MORE

When creating an estate plan, a critical question arises: Who will get your belongings when you pass on? While major assets like homes and retirement accounts often get attention, personal items such as jewelry, clothing, and sports equipment can be overlooked. What happens if your loved ones don’t want these items? This article explores how to handle personal property in your estate plan, covering wills, trusts, and various methods to distribute or dispose of unwanted items, ensuring your wishes are honored and your loved ones are spared unnecessary burdens. Discover practical solutions and the importance of a comprehensive estate plan to protect your legacy. READ MORE

As a father, you’ve always strived to provide the best for your family, ensuring their well-being and securing their future. From the moment you first held your child, you committed to protecting them, guiding them, and supporting their growth and happiness. Your dedication is unwavering, and your love knows no bounds.

However, even the most well-intentioned plans can falter if you overlook the complexities of estate planning. It’s not just about having a will or a few financial arrangements in place; it’s about understanding the intricate details and potential challenges that can arise. Without a thorough and well-thought-out estate plan, your assets might not be distributed according to your wishes, and your family could face unnecessary legal battles and financial hardships. READ MORE