A Power of Attorney is a document by which one person (the principal) can appoint another person (the agent) to act on the principal’s behalf in regard to financial and property matters (Property Power of Attorney) and health care and personal matters (Health Care power of Attorney). In other words, one person (the principal) can…
For many people, going through a divorce seems like an endless tunnel with the light that seems like a long time coming. When the light does come, and the process is over, the last thing a person might want to do is to think about death. You are looking forward to a new life! Future…
The estate planning that you do (or don’t do) will leave a lasting impression upon your loved ones. Will they love you for it? Planning your estate, the extent of your planning, and the thoughtfulness by which you plan your estate is an extension of who you are. It’s your last gift to the people…
Most people today have an IRA, and sometimes more than one. IRA’s and 401(k)’s and other qualified plan assets have become more popular, taking the place of more traditional pension plans. Whether an employer makes any contributions, or not, people are increasingly aware of their own need to put money aside for retirement into pre-tax…
According to The National Center for Education Statistics, about 35% of children ages 3-21 have some kind of learning disability. About 20% have a speech or language impairment. More significantly, about 9% of this population has autism, 6% have an intellectual disability, another 6% have developmental delay, 5% have some kind of emotional disturbance, and…
The benefits of doing a living trust and transferring your assets into the trust during life are many. A primary benefit is that your estate will circumvent the probate process when you pass, if you do things right, saving your loved ones many months of administrative burdens, delays, attorney’s fees and other costs. You also…
The concept of a trust is difficult for many people to grasp because a trust is a concept, and therefore is intangible. Another intangible concept that is more familiar, and therefore seems easier to understand, is a corporation. Corporations have some similarities to trusts and, therefore, provide a helpful comparison. A quick look at the…
One of the most often misunderstand terms in estate planning is “probate” and what it means so we answer the most common FAQs about probate here: WHAT IS PROBATE? The term “probate” refers generally to the process by which the estate of a decedent (person who died) is administrated and distributed to the heirs and/or people named…
Social pundits have said that kids who grew up in the 1970’s are part of the “me generation”. They are forty and fifty somethings now. Our survival-of-the-fittest world encourages people to “look out for number one”. In that context, the fiduciary idea is counter-cultural.
During the time that I have been representing people doing estate planning, handling probate estates and other estate administration and similar matters, I have come across many, many stories, both good and bad, of examples what to do and what not to do in regard to estate planning. Most of the bad stories involve not…