When you think about your loved ones who've passed away, you probably don't think very much—or even at all—about the "things" they've left you. And when they do leave something behind, what you likely cherish most about the object are the memories and feelings the item evokes, not the thing itself. Your family's most precious wealth is not money, but the memories you make, the values you instill, and the lessons you hand down. Protect and preserve what matters to you most.
If you have children from a previous marriage, and you become incapacitated or die, leaving everything to your new spouse or partner, there is almost certain to be some conflict (whether spoken or not) between your children and new spouse. You can avoid all of this (and even use the estate planning process to build stronger bonds with those you love) by having clear planning in place that has been discussed with your children and your new spouse or partner.
When you are a kid, finding a suitable gift for Father's Day can be a struggle. You want to get Dad something he'll enjoy, but you can't afford expensive things. And even after you become an adult, that struggle for the perfect Father's Day gift often continues, albeit in a slightly different way. With this in mind, give your father a tribute to the role he has played in your life by preserving his legacy for generations to come with a Family Wealth Legacy Passage.
A last will and testament is the most commonly thought-of document when it comes to an estate plan. But really, it's only a very small part of an integrated plan that ensures your family stays out of court and out of conflict if and when something happens to you. Do not think you can just write your own will that will help your family, especially when you plan on creating it online. If you need help in getting started, consult with Personal Family Lawyer® that will help you through the process.
To make certain that your business—and the income it generates for your family—would continue to run smoothly when something happens to you, you need to create a comprehensive estate plan, and it really needs to include a trust. Without such a plan in place, your business will be stuck in an unnecessary court process that could easily cause the loss of everything you’ve worked so hard to build.
In case you missed all of the commercials for floral arrangements that have been airing recently, here’s one final reminder: Mother’s Day is this Sunday, May 9th. But before you spend your money on something that will wilt and die within a week or two, consider getting Mom a truly priceless gift—a plan for her kids that provides her with peace of mind that, when something should happen to her and dad, her children will always be in the care of the people she knows, loves, and trusts.
With 2020 firmly in our rear-view mirror, the economy appears to be on the rebound, and things are slowly getting back to a semblance of normalcy. That said, many families continue to struggle financially, and if this includes you, you may be able to find some relief from the American Rescue Plan. To highlight the ways the ARP can impact your family's bank account, we'll break down three additional parts of the law that stand to boost your family's finances. Learn more here!
Signed into law on March 11th, President Biden's $1.9 trillion American Rescue Plan Act of 2021 (ARP) is the largest direct-to-taxpayer stimulus legislation ever passed, and it came just in time to save millions of Americans whose unemployment benefits were about to expire. This ARP comes with numerous other provisions that can seriously boost your family's finances for 2021. Learn more here to highlight the ways the ARP can impact your family's wallet.
Every state has different terms for what happens when you become incapacitated or die, especially when you have a blended family. One of the most common problems that arises of having a blended family is that the deceased’s children from a prior marriage and the surviving spouse end up in conflict. Unless a comprehensive plan has been created. That way, not only do the people you love get the assets that you want them to receive, but you may also be saving them for years of legal conflict.
Having an estate plan is one of the best things you can do for your family to ensure your wishes are carried out in the future. However, estate planning is not a one-and-done type of deal. Because if it’s not updated regularly when your wealth, family status, or laws change. Then your plan will be meaningless - it can create its own set of problems that can leave your family worse off than if you’d never created a plan at all.