Like some of us, wealthy and famous people are often unprepared for the future. In reality, some of today's most wealthy individuals enter heaven with no will or estate plan. In contrast, others have had to deal with costly mistakes in their estates, tied up all...
What is a healthcare proxy, and what does it do? When creating an estate plan, one of the most important documents to include is a health care proxy (advance directive). A healthcare proxy is a legal document that gives another person the authority to make medical...
Many think an essential part of an estate plan is their last will or revocable trust; however, those documents are only part of the equation. Your life planning is the most critical part of an estate plan. A well-titled article, "Planning for death probably isn't the...
When distributing your assets after you die, you may have different plans for different children. Maybe you plan to leave the family home to one child while leaving a more substantial sum of money to another. Or perhaps you have a child with special needs whom you...
Having a properly prepared estate plan is especially important if you have minor children who would need a guardian, are part of a blended family, are unmarried in a committed relationship, or have complicated family dynamics—especially those with drama. There are...
How to Keep Your Child's Inheritance Out of Your In-Law's Hands About 40 to 50 percent of all marriages in the United States end in divorce. Regardless of how you feel about your child's spouse, it would be best if you faced the possibility that they could become your...
As summer comes to its sweet end and we reflect on the barbeques, baseball games, and the beach, it is also an excellent time to consider some our outstanding estate planning issues that may have been left unintended and remain on our mind. Below is our estate...
Think Your Estate Plan is Complete? Make Sure You’re Not Missing These Important Planning Points. You may have executed your last will, trusts, powers of attorney, health care directives, and funeral plans and feel a sense of accomplishment, and you should. However,...
When it comes to special needs planning, there are a few different options available to parents and caregivers. Two of the most common are ABLE accounts and special needs trusts. So what's the difference? And which is right for you and your special needs loved one(s)?...
When Johnny Cash died in 2003, his estate, worth an estimated $60–$100 million, was left mostly to his son, John Carter Cash, while his four daughters received $1 million each. The dispute over royalties from “Ring of Fire” led to a family legal battle that Cash’s...
FedWeek’s recent article entitled “How Assets Are Titled Can Make a Big Difference” discusses the different ways property may be titled, and the significance of each one. The way in which you take title to assets can affect your estate, taxes and perhaps the...
Did you know estate planning attorneys recommend anyone over age 18 have a power of attorney? Without one, even a long-married spouse may be unable to make financial or medical decisions if their spouse becomes incapacitated, according to a recent article "How to Set...
