Financial exploitation is far more common than most people think, especially of the elderly. There are several types of individuals more at risk for exploitation, according to an article from mondaq titled “How An Estate Plan Can Protect Against Financial Exploitation.” These include someone with a cognitive impairment, in poor physical health, who is isolated or has a learning … Continue reading Estate Plans Can Protect against Exploitation
Category: Estate Planning Attorney
How Does Probate Court Work?
Probate court is where wills are examined to be sure they have been prepared according to the laws of the state and according to the wishes of the person who has died. It is also the jurisdiction where the executor is approved, their activities are approved and all debts are paid and assets are distributed … Continue reading How Does Probate Court Work?
Should I Have a Trust in My Estate Plan?
Kiplinger’s article entitled “Why Do I Need a Trust?” says that if having assets distributed outright to a beneficiary could cause potential issues, there are several reasons to think about creating a trust. If you prefer to place specific conditions on the funds, you should have a trust. Many trusts state that distributions can only take place at … Continue reading Should I Have a Trust in My Estate Plan?
Does My College Aged Kid Need an Estate Plan?
When it comes to estate planning, we usually think of older adults. However, it’s a topic that we should also consider for college students. WDIO’s article entitled “Estate planning is for college students too” reminds us that there’s a number of documents you can put into place in the case of an emergency. Power of Attorney. There are … Continue reading Does My College Aged Kid Need an Estate Plan?
Estate Planning Considerations for Minor Children
Creating an estate plan with minor children in mind has a host of variables quite different than one where all heirs are adults. If the intention is for the minor children to be beneficiaries, or if there is a remote chance a minor child might become an unintended beneficiary, different provisions will be needed. An … Continue reading Estate Planning Considerations for Minor Children
Are You Ready for 2026?
You may not be thinking about Jan. 1, 2026. However, if your estate is worth $5 million or more when the first day of 2026 arrives, your estate planning should begin now. According to an article from Forbes, “Is 2026 An Important Year For Your Wealth?,” the reduction in the estate tax exemption will revert to the 2010 … Continue reading Are You Ready for 2026?
What Is Upstream Planning?
Estate planning with an eye to a future inheritance, known as “upstream planning,” can be especially important where families pass significant wealth from generation to generation. Knowing these details in advance can have a big impact on deciding on how to manage the heir’s own assets, as explained in the article “Expecting an Inheritance? Consider Coordinating … Continue reading What Is Upstream Planning?
Factors to Consider when Picking Executor, Trustees and POAs
Having your estate planning documents created with an experienced professional is important, as is naming the people who will be putting your plan into action. A key sticking point is often deciding who is the right person for the role, says an article from Nasdaq titled “Estate Planning: 5 Tips to Pick Trustees, Executors and POAs.” It helps to … Continue reading Factors to Consider when Picking Executor, Trustees and POAs
Estate Planning for Different Ages and Stages of Life
Estate planning is a critical means of protecting your financial legacy, providing for loved ones, reducing taxes and preventing unnecessary expenses, says an article from The Seattle Times, “Estate planning needs vary at every stage of your life.” The reasons for an estate plan change depending on your stage of life. However, no matter what your income is, … Continue reading Estate Planning for Different Ages and Stages of Life
Why Is it Important to Have an Estate Plan?
By the time you reach your thirties, it’s likely you’ve accumulated some assets—maybe a home, a car, a savings account and some cryptocurrency. However, if you are like most millennials, even though you know you should have a will, you probably don’t. An article, “5 Reasons Estate Planning Is So Important” from The Baltic Times, reports a staggering … Continue reading Why Is it Important to Have an Estate Plan?