Some of these articles have been written by our law firm and other articles are written by the American Academy of Estate Planning Attorneys and compliments of our law firm. Any feedback or questions about the articles can be addressed by contacting our office.
As parents, one of the challenges we face is ensuring our children feel as though they’re treated fairly and loved equally. What many may not realize, however, is that sometimes accomplishing this doesn’t include equal divisions, especially after they’ve reached adulthood. This is also sometimes the case with Estate Planning. While it’s designed to efficiently distribute your assets after your death, it’s also meant to see your final wishes implemented. The challenge is making sure your children understand that after assessing the dynamics and factors associated with your family and the needs of each family member, your final wishes may appear to be unfair, even though your goal was always to address the needs of each child versus the collective family.
Estate planning for an 18-year-old isn’t something most people think about, but there are certain documents you need to create in case something happens to a young adult. An estate planning lawyer can help.
As a new parent, estate planning might be at the bottom of your long list, however, it can bring you immense peace of mind. Here’s what you need to know.
Many people put off estate planning because of the uncertainty of what it means and what it encompasses. It’s not an overwhelming or time-stealing process, though it is crucial for ourselves and our families.
There are few things more precious than the relationship between grandparents and grandchildren. Be sure you leave them with more than just memories. Proper estate planning is a great way to make the most of your gifting efforts.
The SECURE Act was signed into law on December 20, 2019 and became effective on January 1,2020, creating significant changes to IRAs for the 2020 tax year.
What are your New Year’s resolutions this year? Ever thought about adding estate planning to the list? You should; and here’s how to do it.
Did you just find out you are the Trustee of a Trust? If so, you are probably feeling honored, and maybe a bit intimidated if this is your first time acting as a Trustee. In this article, find out what a Trustee’s role is within the Trust as well as the duties and responsibilities of a Trustee.
There is a very good chance that you, or your spouse, will need long-term care at some point down the road. To help pay for that care you may need to qualify for Medicaid. There is a right way, and a wrong way, to approach Medicaid planning in anticipation of qualifying. The wrong way could land you in prison. Proper planning can protect your assets without jeopardizing your eligibility for Medicaid.
When you are planning your estate, it is important to remember that circumstances rarely stay the same over long periods of time. A plan that worked for your family when the kids were little may very well be obsolete by the time they’ve started families of their own. This is why it’s important to ensure that you build flexibility into your plan.