Category Archives: Estate Planning-General
Sweet Peace
“Thank you for helping me with my estate plan. You have taken a load off my mind. I slept like a baby last night.” This is an actual quote from a “thank you” card I received from one of my clients after we had completed his estate plan. These sentiments are typical of what… Read More »
The Value of “Legalese”
There are many unusual words or phrases in our language that we see or use without pausing to think about where the word or phrase came from. Some are obvious; others defy an easy answer. Many times my husband hears such a word or phrase and plays a little game trying to figure out… Read More »
Resolve to Make or Update Your Estate Plan
The beginning of a new year is a time for reflection on the year gone by and planning for the year ahead. Many people will make New Year’s resolutions, often involving getting their financial affairs in order. Wouldn’t it be wonderful not to have to worry about what will happen to you or your… Read More »
Estate Representatives
An important part of creating an estate plan is the selection of the person who will take over your financial matters for you after your death. If you have a living trust, that person is called the “successor trustee.” If you have a will, that person is called the “executor.” Your successor trustee or… Read More »
The Importance of Proper Beneficiary Designations
We are all busy and have a long list of “things to do” that we keep putting off. One of those “things” that should be done periodically is reviewing and verifying the beneficiary designations on our various accounts. Most financial institutions require that you fill out a beneficiary designation. It tells the financial institution… Read More »
The Homestead Exemption
In these days of rampant debt faced by many of us, protecting the family home through a declaration of homestead could take on new significance. When financial obligations go unpaid, a person’s creditor can go to court to seek payment of the debt. If a judgment is obtained against the debtor, the creditor can… Read More »
“Medi” What?
As an estate planning attorney, I am sometimes asked to assist an elderly person meet his or her health care needs through public benefits. The rules and regulations regarding public benefits are very complicated and are forever changing. Therefore, I always refer persons seeking this type of assistance to an attorney who specializes in… Read More »
Is a Gentle Nudge In Order?
I have found that some people need a gentle nudge to start and/or complete their estate plan. Sometimes a spouse, an adult child, or a close friend can motivate or encourage another person to do what he or she knows is the right thing to do. Every family has at least one trusted and… Read More »
Secrets that Should be Told
One of the primary reasons that living trusts are favored is that, unlike a will, they are not subject to public inspection. A will becomes a public document when it goes through probate. On the other hand, a living trust is not subject to probate and thus the grantor can keep his or her… Read More »
Care and Custody of the Estate Plan
There are three core documents to a good estate plan: (1) a revocable living trust or, in very limited circumstances, a will; (2) a durable power of attorney; and (3) an advance health care directive. But estate planning doesn’t end with getting the documents created. Some people go through the effort of creating an… Read More »