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When I talk with clients about estate planning, I often need to start with the basics, giving them a good solid foundation. I am not sure I have done that yet on my blogs, so I am excited to do a four part series where I talk about the basic, foundational documents of every estate plan. Hopefully this will set a good foundation for you. In my … [Read more...]
Four Fundamental Estate Planning Documents: Part 1 – The Will
When I talk with clients about estate planning, I often need to start with the basics, giving them a good solid foundation. I am not sure I have done that yet on my blogs, so I am excited to do a four part series where I talk about the basic, foundational documents of every estate plan. Hopefully this will set a good foundation for you. In my … [Read more...]
Asset Protection: The Difference Between Irrevocable Trusts and Revocable Trusts
A couple of weeks ago, I had a conversation with a financial planner who has referred business to me for several years. This financial planner told me we need to provide asset protections in a trust for a potential client he planned to refer to me, and referenced using a revocable trust. We have these types of conversations all the time, as we … [Read more...]
What Will You Be? Picking the Right Halloween Costume For Your Estate
It is October, and Halloween is coming up. A couple of years ago my four year old asked what a friend of ours would be for Halloween by asking, “What will Erazz be for Halloween? A witch!” He mispronounced our friend Mirazz’s name, and made us laugh, but picking a costume is always a fun part of Halloween. Picking an estate plan may not be as … [Read more...]
Making Beneficiary Designations Work for You
You spend hours setting up the perfect estate plan, and you are set up exactly the way you want. Everything seems perfect, and then it comes time to implement the plan. But wait, what is this? Your assets are transferring outside of the perfect plan? How can that be? What is going on? What happened? Is everything now ruined because of something … [Read more...]
Estate Planning 101: The Four Methods of Transfer & Who Gets What
I am amazed at how often people want a will written to make sure their assets go where they want when they die, but have never considered what other methods of transferring assets exist. And...what different types of asset transfer options are available to use. These people want me to write a will to make sure assets go where the individual … [Read more...]
How to Determine Mental Capacity for a Will or Estate Plan
Your mind matters! I often have people I meet who feel the need to apologize to me for not having created an estate plan before they met with me. Many times this comes from an older couple who realized that they should have planned sooner. I think I addressed that attitude in my last blog about putting things off until tomorrow, but I often … [Read more...]
Where there’s no Will, There is a Way
When someone asks me, “Well, if I set things up right, I don’t even need a will or a trust, right?” I often wonder if the person asking the question wants an actual answer, or just wants me to agree with them. I think I understand what the person is asking, but I am not sure why someone would want me, an estate planning attorney, to simply agree … [Read more...]
