It is critical that you review your plan annually to make sure it’s up to date and immediately amend your plan following events like divorce, deaths, births, and inheritances to keep your family from an endless work and expenses of tracking down your assets in the event of your potential incapacity or death. This will also ensure you that your assets will be inherited by the right people and that your plan will never be worthless when your family needs it.
Your "When I die" file is one crucial part of your plan as it will give your loved ones access to all your planning documents, financial accounts, digital assets, etc. in the event of your potential incapacity or death. Failure to execute this file will result in your family an agonizing work and endless expenses in tracking down your assets and worse, they will all end up as if they never existed. Read here to know how to avoid estate planning failure.
Conflicts frequently erupt in blended families as children, especially from a prior marriage and spouse's interests, often aren't aligned. It is critical to communicate and explain your wishes to your loved ones in person while you're still alive and have a comprehensive estate plan in advance to reduce the chances of conflict and bring your family closer at the same time. Consult with us to help you draft clear terms for all your planning documents.
Now that you know exactly what planning is designed to prevent and support, you realized there really is no acceptable excuse for not having an estate plan. Putting up a proper Estate Plan gives you confidence and peace of mind that your loved ones will be provided and cared for no matter what happens to you. Consult with an experienced lawyer like us to guide you step-by-step through the planning process.
A will is an integral part of your estate plan, but it is not enough to protect your wishes in the event of incapacity or death. There’s a common saying among lawyers: “Where there’s a will, there’s a probate.” But having your family end up in court or conflict is no laughing matter. That's why it is important to complete a comprehensive estate plan in addition to the will, including a trust (if needed), advanced health care directive, financial power of attorney, and Kids Protection Plan®.
Scammers view seniors as easy targets and nowadays, they use a wide array of sophisticated and highly effective tactics which even the most intelligent and educated can be duped. Be alert and protect your aging loved ones and yourself from such predators by knowing the three big red flags of financial exploitation we listed to safeguard your family's finances.
Each of us is at constant risk of experiencing a devastating accident or disease that may leave us incapable of caring for ourselves & our loved ones. Temporary or not, such may render emotional trauma, or worse, financial loss. This is why incapacity planning is significant to ensure someone can take charge of your legal decisions in case you are incapacitated to keep your family out of court & out of conflict. Consult with an experienced lawyer like us to guide you in this decision making.
No matter who you are, your life will inevitably change: families change, laws change, assets change, and goals change. In the absence of any major life events, it is important to review your plan annually to make sure its terms are up to date. There are several common life events that require you to immediately update your plan—that is, if you want it to actually work and keep your loved ones out of court and out of conflict.
You might assume your close family and friends will take care of your children if anything ever happens to you, but everything won’t be simple and easy unless you prepare for it. Your family and friends would probably want to take care of your children, but it is not up to them to decide. If you did not appoint a guardian for your children, even a stranger could gain custody of your loved ones. Plan now so you could make certain that your children are never taken into the care of strangers.
Traveling, especially in foreign destinations, means you’ll likely be at greater risk than usual for illness, injury, and even death. In light of this reality, you must have a legally sound and updated estate plan in place before taking your next trip. Read here the 4 critical estate planning tasks before going on vacation.