Imagine opening your inbox to an urgent email from a seemingly legitimate source – perhaps your bank, a popular online retailer, or even a social media platform. The message claims there has been suspicious activity on your account and urges you to click a link or provide sensitive information to verify your identity. This is the classic phishing email – a crafty attempt to deceive you into revealing your personal data.

Phishing has been around since email became mainstream, but what has changed is the depth to which scammers feign legitimacy. Even if you or your parents are familiar with phishing email schemes, new approaches and advances in technology are making it harder than ever to detect a phishing email. READ MORE

A benefit of working hard is sharing the fruits of your labor with your loved ones. However, gift or estate tax consequences may impact high net worth clients when they share their wealth. By crafting a comprehensive estate plan, we can address these concerns and protect high net worth clients and their loved ones. The following three types of trusts may assist high net worth clients in sharing their wealth in a tax-advantageous way.

A grantor retained annuity trust (GRAT) is an irrevocable trust you can use to make large financial gifts to your loved ones while also minimizing gift tax liability. These financial gifts remove future appreciation from your estate, reducing the amount that will be subject to estate tax at your death. However, there may be gift tax liability, which would be owed and paid at the trust’s creation. READ MORE

Adding a payable-on-death (POD) or transfer-on-death (TOD) designation to an account allows the assets (money and property) in that account to be passed to a named beneficiary when the original account holder dies. 

Like trusts, POD and TOD accounts bypass probate. They are also fast, easy, and usually free to set up. However, they do not provide the full range of benefits that a traditional trust does and can have some unintended consequences.  READ MORE

Fraudsters and scam artists are nothing new, but changing tools and technology are making it easier than ever for scammers to target their victims, especially seniors. To protect your aging parents (or yourself) from these con artists, it’s crucial to equip yourself with the knowledge of how these scams work and what your loved ones need to know to keep their assets and emotions safe.

In this two-part series, we’ll explore four of the most recent and insidious financial scams that have surfaced, shedding light on their tactics and providing you with practical steps to shield your parents from potential harm. READ MORE

Being self-employed is no easy task. You are the owner, and in some cases, the only employee. While you may have more freedom than the average worker, a lot of responsibilities lie on your shoulders. Working together, we can craft a comprehensive estate plan that will help you address three important concerns you may have.

You are your own boss, and you have your own business. That means it is your responsibility to obtain the important things we associate with employment, such as retirement accounts and insurance. To properly plan for your financial future and the future of your business and loved ones, it is important to have a comprehensive plan and an experienced advisor team. The right advisor team can educate you about the available retirement plan options and the best investment strategies based on your unique situation. READ MORE

As kids return to school, they’ll spend most of their day in the care of other people – their teachers, coaches, and babysitters. That means that your children will spend most of their time with people who do not have any legal authority to take care of them for more than a brief time in the event you are in an accident or can’t be reached for any reason. 

And, if your kids are going off to college, you’ll no longer be able to make decisions for them or have access to their medical records in an emergency unless your adult kids create Powers of Attorney and Health Care Directives. READ MORE

You might think that estate planning is something you can complete one time and then check off your to-do list for good. But the reality is that in order for your estate plan to work for you no matter how your life changes, your plan needs to change with it.

To make sure any big changes in your life are considered in your plan, I recommend reviewing your estate plan with your attorney at least every three years. But if any major life events happen before then, it’s crucial to have your plan reviewed as soon as possible so it can be updated if needed. READ MORE

You may think that it would make sense to refer to yourself and your family members or loved ones by using their Social Security numbers to ensure that they are correctly identified when the time comes. It is important to provide information in your estate planning documents that is sufficient to properly identify your beneficiaries, but using full legal names, including middle name or initial, is typically adequate.

Providing Social Security numbers would leave the individual vulnerable to the risk of identity theft because there are several estate planning documents that may become part of the public record. A will may need to be filed with the probate court at your death, or a power of attorney or certificate of trust may need to be recorded if real estate is transferred. Once these documents are part of the public record, complete strangers will have access to this private information by making a simple request of the probate court or recording office and paying a small fee. Considering that in 2022 alone, the Federal Trade Commission received 1.1 million reports of identity theft, Social Security numbers should never be included in anyone’s estate plan. READ MORE

Maybe you thought that creating a Will or Trust is something you can do once and then your family and assets are protected forever after. It seems to be how most lawyers structure their services, so it wouldn’t be surprising if you did think this. You work with your lawyer, they draft documents, you bring them home in a binder or notebook, put them on a shelf or in a drawer, and you never hear from them again. Estate plan, done. But, it’s not, and thinking of it that way could leave your family with a big mess when something happens to you. 

In reality, life events can drastically affect your estate plan and even cause your plan not to work in the way you intended. To make sure your plan remains up to date throughout your life, we recommend reviewing your plan at a minimum of every three years. Because I am so passionate about this, I offer to review my clients’ plans every three years for free. READ MORE

Estate planning helps bring peace of mind and a sense of security, both in our lifetime and beyond. While we cannot predict our fate, we can at least dictate how our money and property will be distributed and ensure that we provide for our loved ones.  Physical security is a big part of feeling emotionally, READ MORE

The national debt ceiling is a legal limit set on the amount of money the government can borrow to finance its operations and meet its financial obligations domestically and around the globe. When the government reaches this limit, it cannot borrow more money unless Congress raises or extends the country’s debt ceiling. If the ceiling isn’t raised and the United States can’t pay back its debts, the country’s global creditworthiness is affected as well as financial security abroad and at home.

Congress raised the national debt ceiling on June 3, 2023, which means the United States will not default on its loans. This is good news, and yet the extension of the debt ceiling can still affect the economy and your family. READ MORE

If you are thinking about creating an estate plan, you may hear some new and confusing terms that make your brain hurt. To add to your bewilderment, not only are some of the words unfamiliar, they may also be homophones – words that are pronounced the same as other words, but have different meanings and spellings. For example, an heir is a person who legally (under a will or according to state law) receives money or property from another person when that person dies. In contrast, air is an invisible gaseous substance made up primarily of oxygen and nitrogen that surrounds the earth. The two words sound alike, but obviously have vastly different meanings.

Likewise, if you have heard an estate planning attorney mention a devise, it is very different from a device – which usually refers to a piece of electronic or mechanical equipment. So exactly what is a devise in your estate plan? Adevise is a legal term that traditionally has referred to a gift of real estate made by a will. However, in common usage, it has been used interchangeably with other legal terms such as a bequest, which traditionally refers to a gift made in a will of personal property – that is, property other than real estate. Courts will uphold the use of either term for a gift of real or personal property in a will if the will clearly shows that the person who created it (the willmaker) intended to make the gift.  READ MORE

July is National Family Reunion Month and the perfect time to reconnect with family from near and far, share life’s updates, and reminisce about the wonderful memories you share together. If you’re getting together with family this month, it’s also a perfect time to talk to your loved ones about your shared goals, family resources and the legacy you want to leave behind for the next generation. 

You might think that estate planning is too somber a topic for a happy family reunion, but it can actually be an opportunity to bring you closer to your loved ones by giving everyone time to speak openly about their wishes for the family and can help everyone feel unified by working together toward the family’s future wellbeing. READ MORE

Including a Trust as part of your estate plan is a smart decision. It allows you to avoid probate, maintain privacy, and distribute your assets to your loved ones while also providing them with a lifetime of asset protection, if you choose it for them. But, here’s the thing you might not know, and is critically important to remember: simply creating a Trust is not enough. For your Trust to work, it has to be funded properly and may need to be updated over time.

Funding your Trust means transferring ownership of your assets from your own name into the name of your Trust. This can include bank accounts, investments, real estate, and other valuable possessions.  READ MORE

If you have recently lost your job, you are not alone! Inflation has skyrocketed in the United States over the past couple of years. Some smaller businesses have not been able to survive the increased expenses, putting employees out of work, while many larger companies have laid off employees to reduce their costs. If you are dealing with a job loss, you can transform what you may view as a crisis into an opportunity to take steps to protect yourself and your family.

Try not to dwell on the loss; rather, focus on planning for the future. In planning proactively to address both the immediate crisis and your long-term financial wellbeing, it is important to assess the state of your finances. Do everything you can to maximize your resources and minimize your expenses. READ MORE

Vacations are a time to relax, unwind, and create beautiful memories with your loved ones. But before you set off on your adventure, it’s essential to ensure that your legal affairs are in order so you can fully relax during your travels. 

Don’t worry! As your attorney, I’m here to guide you through these important tasks, so you can enjoy your vacation worry-free. Plus, these steps only take a little time to complete and can provide you with peace of mind knowing that you have made proper arrangements if the unexpected happens to you or your family while you’re away. READ MORE

Even with the most thorough estate planning, there is likely to be some personal property that is unaccounted for after somebody passes away. What remains after specific items have been distributed to loved ones and final expenses have been paid makes up the residuary estate.

A residuary estate can contain newly acquired accounts and property that were not accounted for in the latest draft of an estate plan. It can also contain overlooked items that, at least on the surface, seem to have nothing more than sentimental value. An old family Bible might be left to a close family member. The other books on the shelf, though, may be left in no-man’s-land. READ MORE

Get ready for an interesting twist in the world of legal and business news. You may already be familiar with the upcoming Corporate Transparency Act, set to kick in next year. If you aren’t, it’s time to get in the know because it could impact you, and if you it does, you’ll need support. Starting January 1, 2024, every small business will be obligated to submit an annual report revealing the names of their major owners. Now, here’s where it gets intriguing. If you happen to have a Trust that holds partial or full ownership in a business, that business might be required to disclose private details about your trust, including details about the name of your Trustee or beneficiaries, in your annual corporate report to the government.

But hold on, you might be wondering, how do you figure out if your Trust needs to be reported? Fear not, for I have some answers. Keep reading, and you’ll soon uncover all the essential details! READ MORE

Last week we started the discussion of why it’s so important for LGBTQ+ families to invest in custom estate planning. While major strides for LGBTQ+ rights have been made in recent years, estate planning law is still written with hetero, cisgender couples in mind, which means that your wishes and your rights may not be respected when you die or if you become incapacitated without proper planning in place.

This week, I’m covering two more reasons why every LGBTQ+ family needs custom estate planning. READ MORE

The online marketplace Etsy has gone from a niche craft seller to one of the largest commerce companies in the world. Etsy has millions of active sellers worldwide, most of whom are based in the United States. Many Etsy sellers rely on the site as a primary or secondary income stream. Collectively, they contribute billions of dollars per year to the US economy. 

Etsy sellers tend to be independent workers who seek success on their own terms. But you should have a contingency plan for your Etsy store that considers the worst-case scenario of incapacitation or death. Ask yourself: what would happen to your store if you were no longer able to run it? READ MORE

June is a time of celebration and reflection for the LGBTQ+ community as Pride Month shines a spotlight on the progress made in the fight for equal rights. While significant strides have been made, such as the legalization of same-gender marriage and increased recognition of LGBTQ+ families, there is still a large gap in estate planning for LGBTQ+ individuals that could leave your loved ones with a big mess.

Estate planning laws are still written for hetero, cisgender individuals, and many lawyers aren’t well equipped to customize their estate plans to account for the unique family dynamics and wishes of LGBTQ+ clients. Sadly, if you have LGBTQ+ family members or are in a non-traditional family dynamic of any kind and don’t have a custom estate plan, the people you love most could find themselves accidentally disinherited from your estate or stuck in a lengthy and expensive court battle. READ MORE

Raquel Welch, whose acting career spanned five decades, passed away in February at the age of eighty-two. Welch appeared in more than thirty films and fifty television series, won a Golden Globe Award, and has a star on the Hollywood Walk of Fame. However, Welch was more than an actress. She was also a savvy businesswoman with several successful ventures, including a fitness program, wig line, and celebrity product endorsements. 

Her reported net worth of $40 million will presumably go to her two adult children, although there are few public details about Welch’s estate plan. This suggests that Welch was also savvy about estate planning and may have set up a trust for her loved ones. READ MORE

May is Senior Citizen’s Month, a time to reflect and appreciate all the things the seniors in our lives have done for us. Whether they are our parents, grandparents, or elderly friends, our seniors have given us so much over the years. But sometimes seeing your loved ones aging or seeing how you’ve aged yourself may remind you of how quickly time passes and how much you wish you could pause life. 

When you think about a loved one who has passed away, you probably don’t give much thought to the material things they’ve left you. Maybe you have a piece of their clothing that you sometimes hold close to your heart or a favorite item of theirs displayed proudly on a shelf. But what you value most about that object likely isn’t its monetary worth but the memories it evokes of your loved one and the time you spent together.  You wish you could still hear from them, learn from them, and share memories with them. READ MORE

Each May, the home remodeling industry and the National Association of Home Builders (NAHB) celebrate National Home Remodeling Month. In 2023, over 17 million home remodeling projects are expected to be undertaken in the United States. 

Between planning, permitting, and construction, the home remodeling process can take months to complete. But even after the finishing touches have been applied, there may still be work to do. If the home is part of an estate plan, a remodel can affect that plan and require changes to it. To keep your estate plan up to date, make sure to discuss a home remodeling project with an attorney. READ MORE

If you are going to take investment and estate planning advice from anyone, Warren Buffett is likely one you want to consider. As one of the most successful investors in history, his track record speaks for itself. However, his wisdom goes beyond picking stocks and making money. 

At this year’s Berkshire Hathaway annual shareholder meeting, Buffett shared several pieces of financial advice but also provided insights on the importance of personal growth and estate planning when seeking to grow wealth.  While many of us may feel overwhelmed by the thought of estate planning or building our wealth, Buffett’s advice reminds us of two key but simple steps we can take to create financial and generational wealth. READ MORE

When you plan a barbecue, one of the first steps is to decide what foods to include on the menu. If you buy the burgers and hot dogs but forget the buns, the menu will lack an essential component and the party may be ruined. Likewise, in creating your estate plan, one of the first steps in making sure your goals are achieved is to consider what you own. If you omit important property or accounts from your estate plan, it is unlikely to fully achieve your goals. 

As your estate planning attorneys, we will provide you with a checklist that will help you think through what you own so that none of your property is inadvertently left out of your plan. For example, you will be asked to list real and personal property and all of your bank and other accounts, and to note whether you own them individually or jointly with your spouse or another person. READ MORE

When you think of estate planning, a Will is usually the first thing that comes to mind. In fact, most people who contact me tell me they don’t need anything complicated for their estate- just a Will. Indeed, Wills have a reputation as the number one estate planning tool and can be seen all over TV shows and movies, from the dramatic “reading of the Will” (which rarely happens in real life) to characters plotting how best to defraud their billionaire uncle’s Will in order to inherit his lavish estate.

But although Wills are a key part of your estate plan – and a big part of the movies – relying on a Will alone won’t solve your estate planning needs – no matter what Hollywood says. Instead, using just a Will to plan your final wishes is likely to leave your loved ones with an expensive mess that won’t distribute your assets in the way you intended.   READ MORE

Joint trusts are beneficial for many married couples, especially if they have a stable relationship, do not have many creditors, and do not live in a state where their estate may be subject to a state death tax. Compared to separate trusts, they are easier to fund, allow the surviving spouse to have complete control over the money and property held in the trust, and may help avoid much higher trust income tax rates that are applicable to their spouse’s separate trust after their spouse dies.

If you are in a long-term relationship with your partner but are not married, you may want to take advantage of these benefits. However, joint trusts typically are not a good option for unmarried couples. This may not seem fair, but there are some important reasons why unmarried couples should consider separate rather than joint trusts. READ MORE

Blended families were once considered “non-traditional” families, but today, blended families are becoming just as common as non-blended families. Currently, 52% of married couples (or unmarried couples who live together) have a step-kin relationship of some kind, and 4 in 10 new marriages involve remarriage. 

If you’re part of a blended family, you’ve probably recognized the extra layer of complexity that comes with planning for your family’s needs and accommodating the many relationships that exist between step-parents, step-kids, and step-siblings. Topics that might be straightforward for a “traditional” family – such as where to spend the holidays or who gets the old family car  – are more complex. READ MORE

Roughly one in five US adults experiences a mental illness each year. Anxiety disorders are among the most common mental health conditions, affecting nearly one-third of adults at some point in their lives. While anxiety can be generalized and chronic, it can also be a normal reaction to everyday stresses, such as worrying about finances, health, and family. 

During Mental Health Awareness Month, people are encouraged to make positive changes that can help them feel better. Anxiety may be rooted in concerns about the future, like what will happen when you pass away or have health problems. Many questions cannot be answered. But that does not mean we have no control over the future. READ MORE

AI (artificial intelligence) language models like ChatGPT and Jasper in particular are enjoying the spotlight this year. Essentially, these are online software programs that have the ability to interpret natural language and provide human-like responses. In a nutshell, that means you can type in questions or commands as if you were writing a message to a real person, and the software will produce an equally human-like response. 

What has the world buzzing over these programs is their ability to understand and interpret the text you enter into them in the same way a real person would, including an ability to modify its response based on your follow-up questions or commands. READ MORE

You have a minor child who depends on you for their survival, so you need to make sure that they will be cared for if you are ever unable to care for them. By creating an estate plan, you can address your minor child’s care and custody and provide instructions about how your money and property should be used for their care should something happen to you. 

Creating an estate plan allows you to name someone to care for your minor child if you are unable. A child under the age of majority (eighteen or twenty-one depending on your state law) cannot legally care for themselves (unless they have been emancipated). A guardian must be appointed to take care of the minor child if both parents have passed away or are unable to care for the child. READ MORE

Elvis Presley, the King of Rock and Roll, died in 1977. Like most celebrities of his stature, he left behind a complicated legacy and a considerable estate. Elvis’s estate, including Graceland, ended up in the hands of his only child, Lisa Marie Presley, who passed away in January at fifty-four years old. It is now set to pass to Lisa Marie’s three daughters.

Several complications could make administering Lisa Marie’s estate a messy affair, however. Personal financial issues, a wide age gap between her children, and a challenge to her will by mother Priscilla Presley cast doubt over what will happen not only to her estate but the future of Elvis’s legacy. READ MORE

Stephen Laurel Boss, also known as “tWitch,” was an American DJ, hip-hop dancer, choreographer, television producer, and actor whose personality lit up the stage on So You Think You Can Dance and as a producer and frequent guest host on The Ellen Degeneres Show. Boss also co-hosted the TV show Disney’s Fairy Tale Weddings alongside his wife and fellow dancer, Allison Holkers.  

Boss and Holkers shared a seemingly extremely happy life together in Los Angeles, California, where they were raising their three children, ages 3, 7, and 14. Sadly, on December 13, 2022, Boss died by suicide at the age of 40. Boss’ death was a complete shock to fans and loved ones, who reported the star seemed happy in the weeks leading up to his death. READ MORE

On February 14, 2023, California state lottery officials named the winner of the largest lottery prize in United States history: Edwin Castro won an eye-popping $2.04 billion in a November 2022 lottery drawing, choosing a lump sum payment of $997.6 million instead of annual payments over three decades. A lottery player in Maine recently won the READ MORE

If you’re tempted to use a DIY estate planning service or have already created a plan you aren’t 100% confident in, be sure to read how these three simple mistakes can derail your estate plan and leave your family with an expensive mess.

We regularly meet with clients who ask us to review an estate plan that they created online or with an attorney who isn’t experienced with estate planning. You see, these clients usually think they found a faster and cheaper solution to estate planning, but once the plan is signed and done, they’re often left wondering whether this “cheap” plan will actually accomplish their goals or if it will leave their family with a big mess instead. READ MORE

When it comes to protecting your hard-earned money and property, it is important that you have the right plan, which can include a number of tools for your unique situation. One tool that might benefit you is a limited liability company (LLC) that owns some of your accounts and property.

An LLC is a business structure that can own many types of accounts and property. The LLC is owned by members who contribute money or property to the LLC. You can have a single-member-owned LLC or a multimember-owned LLC. If there is more than one member, management of the LLC can either be carried out by each member or the members can elect a manager. READ MORE

Hiring a lawyer to help you make wise decisions for life and death can be the most empowering choice you ever make for yourself and your loved ones. The way I explain it to my friends and family is, “estate planning isn’t about planning for your death; it’s about planning for your life.” So, with that frame in mind, let’s talk about how to choose an estate planning attorney because we aren’t all cut from the same cloth.

The right lawyer will be there for your family when you can’t be, so you want to understand who the lawyer is as a person, not just an attorney. Of course, you’ll also want to discover the services your lawyer offers and how they run their business. READ MORE

Some trusts are irrevocable as soon as they are created, which means that, in general, the trustmaker (the person who created and funded the trust) cannot terminate or modify it and take back the money or property that it holds. You may wonder why anyone would want an irrevocable trust, but irrevocable trusts can provide some very important benefits, particularly asset protection, tax minimization, and maintaining eligibility for government benefits. In contrast, trustmakers may amend or revoke a revocable living trust at any time prior to their death, but at their death the trust becomes irrevocable.

Although irrevocable trusts generally cannot be changed, many states’ laws allow interested parties to modify a trust in certain circumstances using a binding nonjudicial settlement agreement—assuming there is no language in the trust document prohibiting their use or providing another way for the trustee and beneficiaries to consent to modifications. READ MORE

You might think that because you are married, you don’t need an estate plan. Or you might even think your Will is enough and would just handle everything. But that’s generally not the case.

Even if you are married, you still need medical powers of attorney, making it clear that you want your spouse making medical decisions for you or even potentially adding in additional decision-makers. You still want a Living Will to give clarity on how you want medical decisions made for you. READ MORE

None of us likes to think about our own death or enjoys planning for that occasion. However, if you do not create an estate plan or fail to update it regularly, you are likely setting your loved ones up for even more stress and grief after you pass away. It may add to your own stress and impede your peace of mind during your lifetime because of the uncertainty that your wishes and goals will be fulfilled.

If you have not updated your estate plan to include loved ones who are not provided for in your existing plan, you may be tempted to make deathbed gifts. It may bring you pleasure to make significant gifts to loved ones because of the joy it may bring to them. However, in addition to the obvious problem that none of us knows the exact time we will die and may not be able to make the deathbed gifts we intend, there are some other drawbacks to deathbed planning that you may not have thought about. READ MORE

The primary reason to update an estate plan is to ensure that an individual’s wishes are respected upon death. For example, suppose an individual has recently acquired valuable property or has had changes in family structure (such as marriage or children). In that case, updating the documents that outline how assets should be distributed is important. If the documents are not updated, this could lead to disputes between family members and legal complications when probate occurs. Additionally, if laws change at the state or federal level, those changes need to be incorporated into the existing estate plan to remain valid and effective. 

Another reason for updating an estate plan is for future tax planning purposes. Without proper planning and asset allocation, taxes can significantly reduce the amount that beneficiaries receive after one’s death. Additionally, some states have transfer taxes on certain assets (such as real estate), which must be factored into one’s estate planning decisions. In addition, changes in Federal tax law may affect whether other taxes, such as capital gains tax, applies at the time of death or while transferring assets during life – thus providing additional incentive for individuals to review their plans regularly with their advisors and make necessary updates when necessary.  READ MORE

When you create an estate plan, it is an admission of your mortality. But even if you accept that you are not going to live forever, you may be slower to face the possibility that you could become incapacitated before you die.

Although it can be an uncomfortable topic, incapacity is an essential but often overlooked part of drafting revocable living trusts. Placing your money and property in a living trust can accomplish many estate planning objectives, including planning for incapacity. Should you suffer a disability, your mental competency could come into question. At that point, it will need to be determined if a backup trustee should take over the management of your living trust. READ MORE

As a parent, you are quite accustomed to managing your children’s legal and medical affairs as circumstances require. If your child requires urgent medical attention while away from you, a simple phone call authorizing care can do the trick. But what happens when those “children” turn 18, now adults in the eyes of the law, and need urgent medical attention far from home?

The simple fact is that the day your child turns 18, he or she becomes an adult and has the legal rights of an adult. This means that you lose your prior held rights to make medical and financial decisions for your child unless your child executes legal documents giving you those rights back. Without the proper legal documents, accessing medical information and even being informed about your adult child’s medical condition can be difficult and in some cases, impossible. READ MORE

If you have a current estate plan, I’ll bet you plan to leave your assets to your children outright and unprotected by age 35 or maybe a little later. Go take a look at your estate plan, and see what it does right now. And, if you don’t have an estate plan and you have kids or other people you care about, contact us today, and let’s get that handled for you. 

If you do have a plan and it distributes your assets outright to your kids – even in stages, over time, some at 25, then half of what’s left at 30, and the balance at 35 (or something along those lines), you’ve overlooked an incredibly valuable gift you can give your children (and the rest of your descendants for generations); a gift that only you can give them. And a gift that, once you’ve died and left them their inheritance outright, is lost and cannot be reclaimed.  READ MORE

If your spouse’s will or trust, or your joint trust, has a disclaimer provision, one of the time-sensitive decisions you will need to make is whether to disclaim (refuse to accept) money or property that you will otherwise receive as a trust beneficiary. State and federal law set forth the requirements that you must meet in order for the disclaimer to work as intended.

Under Internal Revenue Code (I.R.C.) § 2518, a qualified disclaimer is simply an irrevocable, unqualified refusal to accept a gift or bequest of a property interest. The disclaimer allows the interest in property to pass to someone other than the beneficiary who originally would have received it, and it is not considered a taxable gift from the first beneficiary to the next beneficiary in line. There is a special exemption under I.R.C. § 2518(b)(4) that allows a surviving spouse to benefit from disclaimed money or property, but taking advantage of the exemption requires careful planning. READ MORE

Shopping for an estate plan based on getting the lowest cost plan possible is often the fastest path to leaving your family with an empty set of documents (maybe in a beautiful binder, but not worth the paper they are written on) that won’t work for your family when they need it.

Unfortunately, we see the negative effects of cheap estate planning when family members come to us during a time of grief with that fancy binder that sat on the shelf for years sending out signals of false security, full of out-of-date estate planning documents, and find themselves stuck in what could have been an avoidable court process,  or even conflict when that’s exactly what their loved one thought they had paid someone to handle for them. READ MORE

Would you like to provide your children or loved ones with an inheritance but protect them from the risks that may accompany a large windfall? If so, you can create a beneficiary-controlled trust in which the person you name as the trust’s primary beneficiary has rights, benefits, and control over the property held by the trust, but with important protections.

In a beneficiary-controlled trust, you can name the primary beneficiary as the sole trustee, or if you name a co-trustee, the beneficiary can be given the authority to remove the co-trustee and select a successor co-trustee if they choose. In addition, a beneficiary-controlled trust may include a broad, nongeneral power of appointment that enables a beneficiary who is also trustee to limit the ability of other more remote beneficiaries to enjoy the property held by the trust. READ MORE

We hear similar stories from our clients all the time. In fact, outside of not creating any plan, one of the most common planning mistakes we encounter is when we get called by the loved ones of someone who has become incapacitated or died with a plan that no longer works. Yet by that point, it’s too late, and the loved ones left behind are forced to deal with the aftermath.

We recommend you review your plan annually to ensure it’s up to date and immediately amend it following events like divorce, deaths, births, and inheritances. This is so important we’ve created proprietary systems designed to ensure these updates are made for all of our clients. You don’t need to worry about whether you’ve overlooked anything as your family, the law, and your assets change over time. READ MORE

Knives Out begins with the death of Harlan Thrombey, an internationally famous novelist who has just celebrated his eighty-fifth birthday at his country mansion, surrounded by family. Detective Benoit Blanc has been anonymously hired to investigate the death, and several family members have a murder motive, including his son-in-law, his son, his grandson, and the widow of his late son.

It turns out that Harlan’s death was a suicide, but that is just one thread in a jumbled knot of family dysfunction. Drawn into the fray are Marta Cabrera, Harlan’s nurse and the sole beneficiary of his estate. The large inheritance is revealed at a dramatic will reading that, although used as a dramatic device, nonetheless raises real-world estate planning lessons. READ MORE

An FLP is an entity owned by two or more family members, created to hold the accounts, properties, or businesses that are owned by one or more of the family members. An FLP has at least one general partner who is responsible for the management of the partnership, has unlimited liability, and is compensated by the partnership for their work according to the partnership agreement. An FLP also has one or more limited partners who are permitted to vote on the partnership agreement and are not authorized to manage the partnership.

The limited partners receive the income and profits of the partnership and have no liability. Often, one or both parents are general partners because they contribute accounts, properties, or a business they own to the FLP and want to retain control of them as they transfer them to the next generation. To facilitate this transition, the children are given limited partnership interests while the parents retain general partnership interests. READ MORE

Although cryptocurrency may be one of the latest investment strategies with great potential, for some individuals and their loved ones, investing in cryptocurrency has not gone as planned. The following stories are each a little different, but they all underline one simple warning: if you own cryptocurrency, you need a plan.

Cryptocurrency is an amazing advancement for secure and private transactions. This groundbreaking investment strategy has the potential to forever change how we view money and financial transactions. Because it is so new, finding and managing cryptocurrency may present some barriers. To best protect yourself and your loved ones, we encourage you to speak with a trusted advisor to craft your cryptocurrency plan. READ MORE

Life is full of contingencies. While some outcomes are relatively certain, other events are more difficult to predict. This uncertainty can create estate planning challenges. Because life changes quickly and sometimes unexpectedly, your estate plan needs to be flexible.

You can make changes to your estate plan when you are still alive, but when you pass away, your plan is effectively but not entirely – set in stone. Incorporating milestones into your estate plan is one way to hedge against the unpredictable future. By creating incentives for particular events, you can continue to exercise your values and provide for your loved ones beyond your lifetime. READ MORE

Maybe you’ve wondered about your own debt or perhaps your parent’s debt – what happens to that debt when you (or they) die? Well, it depends, and that’s part of the reason you want to ensure your estate plan is well-prepared. How you handle your debt can greatly impact the people you love.

In some cases, you could inadvertently leave a reality in which your surviving heirs – your kids, parents, or others – are responsible for your debt. Alternatively, if you structure your affairs properly, your debt could die right along with you. READ MORE

If you are looking to create your last will and testament, or will, online, you’ll find dozens of websites that let you prepare a variety of estate planning documents for very little money and even for free. With so many do-it-yourself online document services out there, you might believe you can create your will online, all on your own, without paying a lawyer to help. 

But if you do, you need to understand how these services can backfire on you and your family. Online estate planning can be a catastrophe for those who aren’t aware of the risks. And as you’ll see, creating your will online without a lawyer’s guidance can even be worse for your family than if you’d done nothing at all.  READ MORE

Although we would all like to believe that our family and loved ones will honor our wishes as expressed in our estate plan, contests are more common than you might think. Sometimes, a family member does not receive what they thought they would after a loved one passes away. To try to get what they think they are entitled to, they may file a lawsuit alleging that the person who made the will (the testator) or trust (the grantor) was not mentally competent to create it.

There is a heightened risk that your estate planning documents will be challenged if you disinherit someone who ordinarily would have received money and property at your death or if you have been diagnosed with a medical condition that will slowly decrease your mental capacity. If a court finds that you did not have the mental capacity to sign your estate planning documents, the documents will be invalidated. Your money and property will be transferred to the people identified by state law, who may not be the individuals you would have chosen. READ MORE

An estate plan is a set of instructions memorialized in legal documents that explains to your trusted decision makers and loved ones your wishes about your care, the care of any dependents, and how your money and property should be handled.

Depending on your unique situation and needs, you may have a last will and testament (also known as a will) as the foundation of your estate plan. This document allows you to name someone to wind up your affairs (i.e., gather your belongings for safekeeping, create a list of everything you own, pay your outstanding bills and taxes, and give the remainder to the individuals and charities you have chosen). You can also name a guardian for your minor children if you have any. READ MORE

The environmental costs of death are significant and constantly rising. With 8 billion people on the planet right now – all of whom have bodies that die and must be disposed of – we need to start seriously considering alternatives to traditional options for burial and cremation. Fortunately, more and more “green” options are being developed to reduce these costs, and this article looks at some of the latest innovations. 

In most conventional burials, the body is pumped with toxic embalming fluid, placed in a steel casket, and buried within a cement-lined vault six-feet underground. According to the Green Burial Council, burials in the U.S. go through roughly 77,000 trees, 100,000 tons of steel, 1.5 million tons of concrete, and 4.3 million gallons of embalming fluid each year. READ MORE

When you live with a romantic partner, it may feel as though you share everything. And to some extent, this may be true, legally speaking. For example, there is a trend toward unmarried couples buying homes together. While this might make economic sense, especially at a time when household budgets are being stretched, it can also create legal complications.

Gifts that are given purely out of affection can create unintended consequences as well. This includes gift taxes and the relinquishing of control over the gift once it is accepted. Your heart might be in the right place, but without understanding gifts and joint ownership, you could be making a decision that you will come to regret. READ MORE

While most are talking about the many benefits the wealth transfer might have for younger generations and the economy, fewer are talking about the potential negative ramifications. Yet there’s plenty of evidence suggesting that many people, especially younger generations, are woefully unprepared to handle such an inheritance.

In fact, an Ohio State University study found that one-third of people who received an inheritance had negative savings within two years of getting the money. Another study by The Williams Group found that intergenerational wealth transfers often become a source of tension and conflict among family members, and 70% of such transfers fail by the time they reach the second generation. READ MORE

During every economic shift, whether it’s the Great Depression, the last Great Recession, or even during the pandemic, some people get rich while others lose everything. Whether your family got rich, lost it all, or just hung on by their toes, you can learn from what happened and create the exact future reality you want for yourself and the people you love.

But to do that, you need to get into action now. In service to that, here are 4 steps you can take right away to change your family’s future and ensure you have the stability you need to sail through the economic shifts in the best way possible. READ MORE

While it is an honor to be named as a trusted decision maker, also known as an executor or personal representative, in a person’s will, it can often be a sobering and daunting responsibility. Being an executor requires a high level of organization, foresight, and attention to detail to meet responsibilities and ensure that all beneficiaries receive the accounts and property to which they are entitled. If you are an executor who is feeling overwhelmed, here are some tips to lighten the load.

he caveat to being an executor is that once you accept the responsibility, you also accept the liability if something goes wrong. To protect yourself and make sure you are crossing all the “t’s” and dotting all the “i’s,” hire an experienced estate planning attorney now. Having a legal professional in your corner not only helps you avoid pitfalls and blind spots, but it will also gives you greater peace of mind during the process. READ MORE

With the cost of a funeral averaging between $7,000 and $12,000 and steadily increasing each year, at the very least, your estate plan should include enough money to cover this final expense. And if you are thinking of simply setting aside money in your will to cover your funeral expenses, you should seriously reconsider, as paying for your funeral through your will can create unnecessary burdens for your loved ones.

Although you can leave money in your will to pay for your funeral expenses, your family won’t be able to access those funds until your estate goes through the court process of probate, which can last months or even years. And since most funeral providers require full payment upfront, your family will likely have to cover your funeral costs out of pocket. Moreover, your loved ones will have to deal with all of this while grieving your death. READ MORE

This August, President Biden, Vice President Harris, and the U.S. Department of Education (DOE) announced a three-part plan to help low and middle-income families deal with the increasingly burdensome cost of paying for college while also making the student loan system more efficient and easier for borrowers to manage. The most dramatic part of the plan includes the cancellation of up to $20,000 in student loan debt, which would benefit an estimated 43 million borrowers, and completely cancel the debt of 20 million.

Since 1980, the cost of public and private colleges has nearly tripled, yet federal assistance hasn’t kept pace with the increased expense. Indeed, Pell Grants once covered roughly 80% of the cost of a four-year public college degree, but today they cover just one-third. This has forced many students to rely on student loans, and today’s typical undergraduate student leaves college with nearly $25,000 in debt, according to the DOE. READ MORE

From a financial perspective, now is a good time to start planning for your child. As you are probably aware, the ART process can be expensive. Having a proper financial plan can help alleviate some of your worries during the process. Raising a child is also expensive; the cost of food, clothing, shelter, toys, and education must be considered. Even if you are not expecting a child imminently, setting money aside or preparing a budget to accommodate these expenses can put you on the right financial path.

When it comes to addressing your child in your estate plan, including who will be the child’s guardian if something should happen to you, how much money the child will receive, and when the child will receive an inheritance, it is best to wait until the child is soon born. While you can plan for a potential child, your estate planning documents will be clearer if you plan for things as they are at the time of drafting. However, you can still create an estate plan now and change your plan when a child is born. Creating an estate plan is not a one-and-done event. It must change and evolve as your, and your family’s circumstances change. READ MORE

Following the death of a loved one, close family members are sometimes surprised to learn that they didn’t receive the inheritance they were expecting and that the deceased instead left most of their estate to an individual they only recently met, who wasn’t even a relative. While it’s not always the case, in some situations, this can mean your loved one was taken advantage of by a bad actor, who manipulated him or her into cutting out close family members from their plan and leaving assets to the bad actor instead. 

This is called “undue influence,” and it’s not only unethical, it’s illegal and considered a form of elder abuse. Given the growing number of seniors, the prevalence of diminished capacity associated with aging, and the concentration of wealth among elderly Baby Boomers, we’re likely to see a serious surge in the number of cases involving undue influence in the coming years. READ MORE

Roughly two-thirds of Americans do not have an estate plan. If you are among the minority of US adults who have prepared a will, living trust, and other end-of-life documents, you may think your estate plan is settled. But you might want to think again. An estate plan is a living set of documents that should be regularly reviewed and updated. Even if you are vigilant about changing your estate plan over time, there may be aspects that you have missed, such as beneficiary designations for retirement accounts or life insurance policies.

Because your estate plan relies on others, such as designated decision-makers and beneficiaries, it is important to consider not only what might happen to you but also what might happen to them. There may be other aspects of your estate plan that you have overlooked as well. The best-laid plans often go awry, but paying attention to the smallest details can help keep your final wishes intact. READ MORE

As we noted in part one, one alternative way to save for your offspring’s higher education is by using an irrevocable trust. Although there isn’t any income tax deferral on income earned by the assets held by these trusts, it is possible to structure a trust, so your beneficiaries could qualify for financial aid that they may otherwise be ineligible for with a 529 plan. Depending on your situation, qualifying for financial aid may prove even more valuable than savings on the income taxes owed on income earned by the trust.

Here in part two, we’ll further discuss how these trusts work and why they may be an attractive alternative to 529 plans if you are looking to save for your loved ones’ education – whether that education is college or some other form of learning. READ MORE

Creating an estate plan is a personal and often emotional undertaking, making the selection of your estate planning attorney of the utmost importance. Here are some questions you should ask your estate planning attorney to determine if they are the right person for the job.

At its core, estate planning is a personal endeavor. Many estate planning attorneys have personal experiences that influenced their decision to specialize in this area. Asking this question can help you get to know your attorney and their reasons for practicing the way they do. These attorneys are passionate about their work and happy to share their background and the experiences that brought them to choose estate planning as their practice area. If the attorney you are considering has no particular reason for choosing estate planning, then perhaps you should keep looking. READ MORE

Since the pandemic’s start, college enrollments have declined by over one million students over the past two years. With college tuition getting more and more expensive, many students are considering alternatives to the traditional higher education path.

Gap years, travel, trade programs, and online training are replacing the traditional college education path for many. If you want that to be an option for your children or grandchildren, you should be aware that the traditional college savings plans may not be the right fit for your family. READ MORE

The first step is to catalog your artwork, including pieces that you have sold. Make sure to specify to whom they were sold and for how much. This information can be helpful in valuing artwork that has not sold and providing a list of potential buyers for when you pass away. You should also include any pieces of artwork that you have lent. This knowledge will be helpful for your loved ones to determine who has the artwork and under what circumstances it will need to be returned. Your list should also include any pieces that have been licensed to someone else. It will be important for your loved ones to know about this stream of income, which could continue after your death. Also, consider including a list of pieces that you have gifted to individuals or donated to charities. Be sure to include any pieces that you have kept for yourself.

After you have compiled a list of your artwork, it will then be important to determine the value of any piece that has not already been appraised, and that is still considered yours (having been neither donated nor sold). This process can help you understand the value of everything you own (an important step in the estate planning process) and determine if you have adequate insurance to cover your artwork’s value. Just like other pieces of tangible personal property, your artwork can be susceptible to theft and destruction and needs to be protected. READ MORE

When a person dies and leaves behind frozen sperm, eggs, or embryos, who owns the genetic material after the person’s death, and who can use it? While the answers vary from state to state, in general, there is a distinction between who owns and controls gametes (i.e., eggs and sperm) as opposed to embryos. Your sperm or eggs are generally considered your own individual property, and therefore your intent as to how gametes are to be used controls their disposition after your death, so if you intend to allow your frozen genetic material to be used for reproduction after your death, you should make your intent clear in your estate plan. 

State laws that address the issue of embryos vary substantially. As discussed above, in Louisiana, an embryo is considered a legal person and cannot be intentionally destroyed. In Florida, however, any written agreement controls the disposition of the frozen genetic material. In the absence of an agreement, the person who provided the gametes controls their disposition, whereas a couple jointly decides the disposition of their embryo. If one member of the couple dies, the surviving member makes all decisions about the embryo’s disposition. READ MORE

As anyone who has dealt with loss knows, when a loved one dies, those left behind face significant challenges, not only emotional and logistical but financial as well. Empathy was designed to help manage and streamline these responsibilities for grieving families. In addition to the app, in March 2022, Empathy released its first-ever Cost of Dying Report, which surveyed more than 2,000 Americans – each of whom had lost a loved one in the last five years – to get a clearer picture of dying’s the actual cost to families.

Last week, in part one of this series, we discussed some of the Cost Of Dying’s most notable findings and explained how proactive estate planning could dramatically reduce many of the financial, logistical, and emotional challenges for your loved ones following your death. Here in part two, we wrap up our summary of the report and outline more of the ways proactive planning can relieve the burden of your death for your family. READ MORE

According to Census figures, the pandemic caused the U.S. death rate to spike by nearly 20% between 2019 and 2020, the most significant increase in American mortality in 100 years. More than two years and 1 million deaths later, it’s more apparent that death is not only ever-present but a central and inevitable part of all our lives.

Yet, in what may be one of its few positive outcomes, some in the end-of-life industry believe that the pandemic’s massive loss of life has created an opportunity to transform the way we face death, grief, and all of the other issues that arise when we lose someone we love dearly. In fact, this sentiment is the mission of the new startup Empathy, an AI-based platform designed to help families navigate the logistical and emotional challenges following the death of a loved one. READ MORE

Whenever you merge two families into one, you will naturally encounter some challenges and conflict. To this end, blended families present several particularly challenging legal and financial issues from an estate planning perspective. Indeed, though all families should have an estate plan, planning is essential for those with blended families. 

Suppose you have a blended family, and something happens to you without a carefully considered estate plan. In that case, your loved ones are at risk of significant misunderstanding and conflict and having your assets tied up in court instead of passing to those you want to receive them. Unless you are okay with setting your loved ones up for heartache, confusion, and pain when something happens to you, you need an estate plan that’s intentionally designed by an experienced lawyer (not an online document service) to keep your loved ones out of court and out of conflict. READ MORE

While most adults don’t take estate planning as seriously as they should, if you are single with no children, you might think there’s no need to worry about creating an estate plan. But this is a huge mistake. Having an estate plan can be even more essential if you are single and childless.

If you are single without kids, you face several potential estate planning complications that aren’t an issue for those married with children. And this is true whether you’re wealthy or have minimal assets. Indeed, without proper estate planning, you’re jeopardizing your wealth and assets and putting your life at risk, too. And that’s not even mentioning the potential conflict, mess, and expense you’re leaving for your surviving family and friends to deal with when something unexpected happens to you.  READ MORE

A resume is a snapshot of your experience, skill set, and education that provides prospective employers insight into who you are and how you will perform. Imagine not updating your resume for five, ten, or even fifteen years. Would it accurately reflect your professional abilities? Would it do what you want it to do? Probably not. Estate plans are similar in that they need to be regularly updated to reflect changes in your life and the law so they can do what you want them to do. Outdated estate plans, like outdated resumes, do not work.

Think for a moment about all of the changes in your life so far. What has changed since you signed your will, trust agreement, and other estate planning documents? If something has changed that affects you, your trusted helpers, or your beneficiaries, your estate plan probably needs to reflect that change. READ MORE

Smaller items, like family heirlooms and keepsakes, which may not have a high dollar value, frequently have the most sentimental value for our family members. But for a number of reasons, these personal possessions are often not specifically accounted for in wills, trusts, and other estate planning documents. 

However, it’s critical that you don’t overlook this type of property in your estate plan, as the distribution of such items can become a source of intense conflict and strife for those you leave behind. In fact, if you don’t properly address family heirlooms and keepsakes in your estate plan, it can lead to long-lasting disagreements that can tear your family apart. READ MORE

As we all know, life happens. There is really nothing we can do about it. However, some of the most common life events can have a dramatic effect on your estate plan. If you think your estate plan is like a slow cooker and you can set it and forget it, you and your loved ones may be in for a stomach-turning surprise when it is time to put your plan into action. Let us take a look at some common life changes and the impact they may have on your already established estate plan.

It is common for parents to have their estate plan prepared after the birth of their first child. However, depending on what provisions are in the first iteration, a second child might have difficulty getting their share without court involvement if the clients do not revise their plan after the birth of a subsequent child. READ MORE

Often, people who do not have a lot of money think that it is unnecessary to have an estate plan. After all, what is an estate plan without an estate? Yet estate planning is more than making sure a person’s wealth passes to the next generation. It also involves making your wishes known with regard to certain items of property, burial arrangements, and end-of-life care decisions. Family relationships have been irreparably damaged over the question of who gets the homemade Christmas tree ornaments, and children have agonized over how much to spend on their parent’s casket and other burial arrangements, not wanting to skimp on something they feel represents their love for their parent.

Your family can have peace of mind knowing with certainty that they are carrying out your wishes if they have a crystal clear understanding of what those wishes are. Whether or not you have much money, you can leave an important legacy to your family simply by making a plan. READ MORE

Like the Madrigal family, you can use your estate plan to benefit the world around you. You can design your plan so that the money and property you leave will cultivate a legacy that will not only impact your immediate family but can also benefit the community for generations to come. The Carnegie Foundation, which funds libraries and learning centers around the country, and the Bill & Melinda Gates Foundation, which fights poverty, disease, and inequity worldwide, are well-known examples.

But you do not have to be a billionaire to establish a family foundation. In its simplest terms, a family foundation is a means of providing charity that is funded with family assets and often employs family members to work for its cause. Family foundations are an effective way to involve your family in establishing a charitable legacy that can benefit the community. READ MORE

Another drawback to transferring ownership of your home in this way is the potential tax liability for your child. If you’re elderly, you’ve probably owned your house for a long time, and its value has dramatically increased, leading you to believe that by transferring your home to your child, they can make a windfall by selling it. And by transferring the property before you die, you may think that you can save your child both time and money by avoiding the need for probate.

Probate is the court process used to distribute your assets according to the wishes outlined in your will or according to our state’s intestate succession laws if you don’t have a will. Depending on the complexity of your estate, probate can be a long and expensive process for your loved ones; however, that expense is likely to be relatively minor compared to the tax bill your heirs could face. READ MORE

If your loved one was living in an assisted living facility or was in hospice before their death, check with the healthcare staff to determine whether they will dispose of the unwanted or expired medications. If you learn that you are responsible for their disposal and there are no specific disposal instructions in the medication package insert, or you have not received detailed disposal instructions from a healthcare provider, follow the steps below.

The first step for properly disposing of a deceased person’s controlled substances is to determine whether there is a drug take-back site or program nearby. This is the best way to dispose of unwanted or expired medications. You can check the Drug Enforcement Agency (DEA) website or ask about possible options at your local pharmacy or police station. READ MORE

Family dynamics are highly complicated and prone to conflict even during the best of times. But when tragedy strikes a household member, even minor tensions and disagreements can explode into bitter conflict. And when access to money (or even quite often, sentimental items of furniture or jewelry) is on the line, the potential for discord is exponentially increased. Ultimately, there is no higher cost to families than the cost of lost relationships after the death or incapacity of a loved one.

By becoming aware of some of the leading causes of conflict over your estate plan, you’re in a better position to prevent those situations through effective planning. Though it’s impossible to predict how your loved ones will react to your estate plan, the following issues are among the most common catalysts for conflict. READ MORE

A common misconception people have about life insurance is that they only need to designate their spouse, child, or loved one as the policy’s beneficiary to ensure that the life insurance benefits will be available to the beneficiary when they die. Life insurance is a significant financial and estate planning tool. Still, there is no guarantee that your beneficiary will receive or keep the benefit from your insurance without certain protections in place.

Despite the estate tax exemption currently being at a historic high, the exemption amount will likely change under the current administration or sunset in 2026 at the latest. Therefore, if you have purchased life insurance, consider taking the extra step to ensure that your loved ones’ financial futures are secure. READ MORE

Decanting is an essential tool that emerged in some states in the last century. This tool is increasingly being used to remedy situations where a now-irrevocable trust needs to be fixed because of changing circumstances that appear to work contrary to the trustmaker’s intent.

Decanting gets its name from the practice of pouring wine from an old bottle into a new container, allowing the undesirable sediment or impurities to remain behind in the original container and the pure wine to be held in a much cleaner container, thereby enhancing the quality of the wine before consumption. Similarly, trust decanting aims to pour the trust property from an outdated or problematic trust into a newly drafted trust with the necessary improvements so that the beneficiaries can enjoy the trust property without the undesirable elements of the old trust. READ MORE

Saying that America is dealing with a mental health crisis is not an exaggeration. According to the National Alliance on Mental Illness, approximately 20 percent of US adults experience mental illness, including 1 in 20 who experience serious mental illness, and 17 percent of American youth experience a mental health disorder. 

The mental health crisis has worsened during the coronavirus pandemic. Loneliness and isolation are fueling increases in anxiety, depression, and thoughts of suicide and self-harm report Mental Health America. More people are seeking mental health screening and treatment, but around 23 percent of Americans with mental illness are still not receiving the services they need. READ MORE

All adults over age 18 should have some basic estate planning documents in place. And this is true regardless of how much money you have, whether you are married or single, and whether or not you have kids. On that note, if you are an adult of any age and the pandemic didn’t inspire you to create your estate plan, here are four reasons why you shouldn’t wait another day to get your plan started.

Most people assume estate planning only comes into play when they die, but that’s dead wrong – pun fully intended. Although planning for your eventual death is a big part of the process, it’s just as important – if not more so – to plan for your potential incapacity due to a severe accident or illness. READ MORE

We may go to great lengths to protect and pass on our family’s financial wealth. Still, very few of us take the time to even document, much less preserve, our family’s legacy. The stories, values, insights, and life lessons of our parents, grandparents, and those who came before them— are typically lost forever when a beloved father figure passes away. READ MORE

In many families, money still is not a typical dinner table discussion, but we think it should be. Surprisingly, this is especially true when it comes to affluent parents. And, we hope to change it because one of the most important things you can do is talk to your kids (and your parents) about money. READ MORE