After you are gone, your loved ones will miss you deeply. They will long for your words of encouragement and concern. Hearing your voice again is a tremendous gift. At Sky Unlimited Legal Advisory, we guide you to leave a legacy that includes much more than just your money.
Through our unique legacy process, you can give your loved ones a most precious gift - a lasting expression of your love. Is there anything more priceless?
We believe estate planning is not just about transferring your financial assets and personal belongings, it's also about capturing and transferring your valuable intangible gifts: who you are and what's important to you - your values, insights, stories and experiences.
"It's too often I hear from colleagues how so few people ever leave their loved ones some lasting legacy of themselves. They even tell their clients to record a message and put it in a safe place or simply write notes to their children letting them know how they felt about them. But we all get caught up with our day-to-day that focusing in on leaving a legacy falls behind."
At Sky Unlimited Legal Advisory, preparing a Family Legacy is part of how we help you capture and pass on more than just your money: your intellectual, spiritual and human assets - who you are and what's important to you.
"I love hearing from many how the thoughts, feelings, memories, and advice they share - especially parents - is the real gift that they give to their families. It's the point of pride that I take in my practice to be able to help clients create their true, lasting legacy. That is so much more important than the paper documents in their binder. "
For more information about creating a Family Legacy, please contact us at (650) 761-0992, today.
In light of this, it’s critically important to have the appropriate safeguards in place to reduce the risk of fraud and identity theft, especially for your senior parents. Because your parents are probably not as savvy about digital technology and may be losing some of their powers of discernment as they age, it’s quite likely up to you to help them protect themselves—and ultimately your inheritance.
Along with traditional estate planning strategies to ensure your parents’ planning is handled in the event of their incapacity or death, you should take the following four precautions to ensure the safety of their identity and finances while they’re still alive and well.
1) Secure their computer: Your first step should be to make sure all computers they use are protected by robust security software bundled with anti-virus, anti-spam, and spyware detection features. Always go with the latest version of software, and make sure it’s configured to provide automatic updates, including security patches.
2) Use strong passwords and PINs: Create strong passwords and PINs that contain numbers, letters, and symbols, and change them regularly (once every six months). Don’t use the
same password for multiple accounts—each account should have its own unique password. Never share passwords, don’t store them on a computer, and keep them in a secure location.
Most elements of business branding—name, logo, design—are readily available online, making it easier for people to knowingly or unknowingly use the intellectual property of others. As a business owner, you must prioritize both protecting your own trademarks and avoiding infringement of others’ marks. The following are important concepts to understand as you develop your business’s trademark strategy.
1. What is a trademark? A trademark identifies a business or individual as the source of a good or service. It can take the form of words, phrases, symbols, designs, colors, or a combination of elements. Marks that identify the source of a service are called service marks; however, in practice, the term trademark is broadly used to identify both service marks and trademarks. The United States Patent and Trademark Office is the federal agency responsible for reviewing and registering trademarks in the United States.
Yet a single catastrophic event, accident, or lawsuit can wipe out your company before it even has the chance to get off the ground.
What’s more, as we’ve seen with the events of 2020, there are a number of threats and worst-case scenarios that even the most successful companies can fail to consider in advance. Although you can’t protect your business 100% from every single threat, you can greatly improve your chances of surviving any potential liability by having the proper insurance coverage in place.
That said, there are many types of business insurance available, some of which are a must-have for nearly every entrepreneur, and others you might not need. Given this, before you sit down with an insurance agent, it’s vital to know the specific risks your company faces and what types of coverage will best cover those risks.
In the first part of this series, we discussed the vital importance of having updated advance directives in place in light of COVID-19. Here, we’ll look at several additional provisions you should consider adding to your directives to address potential contingencies related to the pandemic.
The most crucial planning tools for this purpose are medical power of attorney and a living will, advance healthcare directives that work together to help describe your wishes for medical treatment and end-of-life care should you become unable to express your own wishes. While all adults over age 18 should put these documents in place as soon as possible, if you are over age 60 or have a chronic underlying health condition, the urgency is paramount.
What’s more, in light of COVID-19, even if you’ve already created these documents, you should revisit them to ensure they are up-to-date and address specific scenarios related to the coronavirus. In the first part of this series, we discussed some unique circumstances related to COVID-19 and its treatment that you should be aware of when creating or updating your directives.
Here, we offer several more provisions you should consider adding to your directives to ensure the documents address as many potential contingencies as possible during the ongoing pandemic.
In fact, the Humane Society estimates that between 100,00 to 500,000 pets are placed in shelters each year for exactly this reason, and a large number of these animals are ultimately euthanized.
Whether we like it or not, the law considers pets to be nothing more than personal property just like cars, furniture, and electronic devices. In light of this cold reality, it’s vital that you provide for your pet’s future care through estate planning, so when you die or if you become incapacitated, your beloved friend won’t wind up in a shelter or worse.
The following tips offer helpful advice to ensure your faithful companion receives the best possible care when you’re no longer able to do it yourself.