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Pet Planning - Not Just for the Rich and Eccentric
When people think of someone setting up a Trust for their pet, they might imagine Leona Helmsley's pet Maltese named Trouble drinking Perrier from a crystal bowl in a lavish Manhattan penthouse. However, you don't have to be rich and eccentric to set up a Pet Trust to care for their beloved pet(s). Pet Trusts are most commonly set up by caring individuals who just want to make sure that their non-human family member is taken care of in the event of their own death or disability. This article discusses the 3 easy steps necessary to set up a Pet Trust for your furry and feathered family members. Remember, without you planning for them in advance, they may face the same awful fate that awaits so many other orphaned pets. You will sleep better knowing that they will continue purring or wagging their tail even if you're no longer able to care for them.
MORE4 Deaths, 3 Estate Planning Mistakes
What would you want to leave behind for your family when you pass away? If the answer is not a contentious mess, then planning is required. Unfortunately, only 44% of Americans have a simple Will, much less a well-coordinated estate plan. In this story there are 4 deaths with 4 different outcomes. Each had the best of intentions but only one provided for their loved ones after their passing. A qualified estate planning attorney, one who focuses his or her practice in estate planning, can help you craft a well-coordinated estate plan that will provide for your loved ones who were left behind and avoid the 3 mistakes made by these families.
Eighteen and Alone: The Legal Risks of Independence
When your child turns eighteen, it may feel like nothing has changed. But, disconcerting as it may be, for all legal purposes, turning eighteen makes your child an adult. Even more disturbing is the fact that without proper legal safeguards, you may no longer have any say in their medical care or financial matters. This article reviews the barriers that may prevent you from accessing your child's medical information in case of an accident or illness. Also discussed in this article are several legal safeguards that can be used to prevent this from happening to you and your child.
Estate Planning: It's Not Just About the Documents
An estate plan passes your assets to whom you want and in the manner you want after your death. However, some of your assets may not be controlled by your Will or Living Trust. This article discusses the various problems that can result when a thorough review of assets and ownership titles doesnt happen and how working with an experienced estate planning attorney can ensure that you avoid any planning pitfalls.
Guarding Against Mental Incapacity
Mental incapacity is something that concerns all of us as we age. Like physical decline, the loss of mental alertness may not be entirely within our control. This only increases the need for proper planning. If you have not planned, and are no longer able to handle your financial affairs, a competency hearing may be necessary. This article discusses certain estate planning tools that are available to help avoid this hearing and take care of you and your family in the event of your incapacity.
Scams, Swindles, and Fraud, Oh my!
With more and more financial swindles making the news, it is not unreasonable to be worried about where you are investing. But scams are not limited to the investment field. There are plenty of scams to go around, even in estate planning. Seeking the counsel of a qualified estate planning attorney can help ensure you will not be the victim of an estate planning scam. This article explains what to look for in a qualified estate planning attorney.
Tough Times Could be Tougher
In unsettling economic times, people are looking for someone to hold accountable for their difficulties. With an expected increase in lawsuits this year, it is important to protect yourself. This article discusses steps you can take to protect yourself and your family against harmful lawsuits that could put all your assets in jeopardy. A qualified estate planning attorney can help structure a plan that limits your liability and keeps you safe during these tough times.
Everyone Needs a Periodic Checkup
This article examines how legal and life changes may make it a good idea to consult with your estate planning attorney to ensure that your estate plan continues to achieve your financial and estate planning goals.
Grandma and Grandpa--You're the Best!
The article examines ways to give to grandchildren, both during life and after you are gone.
Same-Sex Marriage Confusion
This article examines the impact of Californias landmark decision to allow same-sex marriages for both state and out-of-state residents. It clarifies the impact that this decision has on out-of-state residents and what responsibilities other states have of recognizing same-sex marriages performed in California.
Death and Tragedy
The article looks at the tragedy of family disputes and how to avoid them.
Putting Your Legal Life Back Together After Divorce
Divorce is common today. This article examines how to put your legal affairs back in order after a divorce.
Do You Want Your Spouse to Lose Your Biggest Asset?
The article examines how beneficiary designations must be coordinated in order to have an effective estate plan. It looks at the story of a woman who forgot to change her beneficiary designations. As a result her husband of 20 years did not get her retirement plan proceeds.
Planning With Retirement Assets
The article looks at retirement planning and looks at a few strategies such as ROTH conversion, paying the tax, giving to charity, etc.
Relax: Everything's Handled
Tells the story of a couple that is going on a second honeymoon and
is worry-free because they did their estate planning.
Honest Discussion About Funerals
Pre-planned funerals may be the best way to go. It reduces friction and makes sure things happen the way you want. Further, it provides Medicaid planning opportunities.
Domestic Partnerships: First, Know the Facts
Domestic partnerships vary dramatically. Examines differences and federal tax issues.
Leaving a Legacy
If you want to leave a legacy, consider a dynasty trust to gain tax advantages and creditor protection.
When Parent and Child Reverse Roles
When we start off in life, our parents provide love and nurturing, as well as the necessities of daily life. As time passes, we grow into adulthood. Our relationship with our parents becomes one of equals, with each providing love and nurturing for the other, while both are self-sufficient. Often, parents reach a stage in their lives when they are no longer self-sufficient, typically due to advanced age or illness.
Effective Estate Planning for the Single Parent
Estate planning for the single parent is somewhat more of an urgent concern than for spouses, because if the single parent dies without an adequate plan, the children are left with no parent to help them.
Basic Estate Planning for Unmarried Couples
The estate planning concerns of unmarried partners are very similar to the concerns of married partners. They are: (1) providing economic protection for the surviving partner; (2) providing for family members at the death of the surviving partner while paying as little as possible in estate taxes; (3) asset protection for the surviving partner, including protecting the surviving partner from creditors and lawsuits; (4) meeting the surviving partners future medical costs; and (5) protecting the property from the surviving partners inability or inexperience in managing money.
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