Recent Blog Posts
That Last Step: Trust Funding
Neglecting to fund trusts is a surprisingly common mistake, and one that can undo the best estate and tax plans. Many people put it on the back burner, then forget about it, says the article “Don’t Overlook Your Trust Funding” from Forbes. Done properly, trust funding helps avoid probate, provides for you and your… Read More »
Why Is Trust Funding Important in Estate Planning?
Trust funding is a crucial part of estate planning that many people forget to do. If done properly with the help of an experienced estate planning attorney, trust funding will avoid probate, provide for you in the event of your incapacity and save on estate taxes, says Forbes’ recent article entitled “Don’t Overlook Your… Read More »
When Social Security Makes the Most Sense
There’s an unfortunate tendency to focus on how to get the most out of Social Security in total benefits, but that’s not always the right approach to determine when to apply for Social Security. Everyone has the same eight-year window—from age 62 to 70—when they can start applying for benefits, as explained in the… Read More »
What are Fiduciary Duties in Estate Planning?
One of the reasons people uses trusts in their estate planning, is that the person named as a trustee has a legal duty to put the trust’s interests first, rather than their own interests. This is called a “fiduciary duty, ” and it becomes very important when planning for the future of your assets… Read More »
Do I Need a DNR in My Estate Plan?
Forbes’s article entitled “Should “Do Not Resuscitate” Be Part Of Your Estate Plan?” explains the difference between a health care proxy and a DNR. A health care proxy is a legal document that lets you name an agent to make health care decisions for you. It is used if you’re unable to make those… Read More »
What Happens If Power of Attorney Documents are Rejected?
It is frustrating when a bank or other financial institution declines a Power of Attorney. It might be that the form is too old, the bank wants their own form to be used, or there seems to be a question about the validity of the form. A recent article titled “What to know if… Read More »
Can I Disinherit Anyone I Want?
If there’s someone you believe is more deserving or needs more of your help, that may mean someone else in your life may receive little or nothing from you when you die. However, be careful—disinheriting an heir is not as simple as leaving them out of your will, explains the article “How to Disinherit… Read More »
What are the Estate Planning Basics?
Estate planning is an all-encompassing term that refers to the process of organizing, inventorying and making plans for the proper handling of your affairs after you die, including your dependents as well as your assets, valuables and heirlooms. This typically involves writing a will, setting up a power of attorney and detailing funeral arrangements… Read More »
What Should I Know about Beneficiaries?
When you open most financial accounts, like a bank account, life insurance, a brokerage account, or a retirement account (e.g., a 401(k) or IRA), the institution will ask you to name a beneficiary. You also establish beneficiaries, when you draft a will or other legal contracts that require you to specify someone to benefit… Read More »
What Is a Will Codicil?
There are a number of reasons for adding a codicil to an existing will. KAKE.com’s recent article entitled “Using a Codicil to Modify a Will” says it’s good to know when you might need one and how to add it. A codicil is a way to change the terms of an existing will. A… Read More »