Category Archives: Estate Planning
Powerful Provisions in Your Financial Power of Attorney
In a financial power of attorney, you designate a trusted decision maker (agent or attorney-in-fact) to act on your behalf if you become disabled or unable to manage your financial affairs. Depending on the provisions you choose to include, your agent may have the power to buy and sell property, the power to invest,… Read More »
Three Things You Need to Know about Cryptocurrency and Your Estate Plan
The popularity of cryptocurrency has rapidly increased in recent years, with more people buying and selling it. Here are three things you need to know about cryptocurrency in relation to your estate plan. Beware of the Tax Consequences Transferring your cryptocurrency to other people, either during life or at your death, could have income,… Read More »
The Basics of Guardianships (Part 2)
If you haven’t already read The Basics of Guardianships (Part 1), click here to do so. Once you understand how guardianships are intended to help a special needs adult, you must understand the key responsibilities a guardian plays within their legal role. Guardian duties vary depending on the protected person’s limitations and abilities. However,… Read More »
The Basics of Guardianship (Part 1)
Protecting and providing for your children is particularly challenging if they have special needs requiring additional care to address their vulnerabilities. Structuring your estate plan to include the appropriate legal documents in the event of your death is crucial, especially when naming a guardian. Special needs children often require guardianship past the age of… Read More »
Important Questions to Ask When Investing in a Vacation Property
According to the National Association of Home Builders, in 2018 there were approximately 7.5 million second homes, making up 5.5 percent of the total number of homes.[1] These homes are not only real estate that must be planned for, managed, and maintained, they are also the birthplace of happy memories for you and your… Read More »
What Happens to My Spouse’s Debts Upon Their Death?
A spouse’s death creates a difficult and demanding time for the surviving partner. As much as you might want space and time alone to process your grief, you may have certain responsibilities related to settling your deceased spouse’s affairs. You may even be wondering: “Am I responsible for my deceased spouse’s debt?” Most Americans… Read More »
Can a Trust Own a Business After the Owner Dies?
In general, the answer to the title question is yes, your trust can own your business after you die. However, there are a number of considerations that may impact the answer to this and the following questions. One consideration is the type of business interest you own. Is your business a limited liability company… Read More »
LGBTQ+ Estate Planning to Protect Yourself and Your Loved Ones
Estate planning is for everyone. Regardless of your wealth, age, marital status, gender identity, or sexual orientation, it is crucial to have a plan in place to protect your money, property, and loved ones in the event of an accident, illness, or death. For LGBTQ+ Americans, estate planning can be even more important. Despite… Read More »
Don’t Have a Lot of Money? Here Are Seven Ways You Can Still Leave Your Family a Great Legacy
Although the word “inheritance” usually conjures up images of property or accounts with significant monetary value, you can leave a long-lasting family legacy and inheritance by doing these seven things, whether or not your bank account is overflowing. 7 Ways to Leave a Great Family Legacy with a Smaller Income Make a Plan Often,… Read More »
An Estate Plan Should Not Be a Set-It-and-Forget-It Endeavor
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… Read More »
