Estate planning is important for every adult; however, it takes on a heightened importance when you become a parent. From the moment you first lay eyes on your child, you feel an almost primal need to care for and protect that child. There are numerous ways in which you will protect and care for your children throughout your lifetime but there is only one way to accomplish those same goals if you … [Read more...] about Estate Planning 101 for New Parents
Whether you are just starting out and have a modest estate or you have already amassed your fortune, it is probably safe to assume that you want to protect the assets that you do have. Accomplishing this seemingly simple goal may be more complicated than you think, due in large part to the fact that your assets face more threats than you likely realize. To illustrate, the Bowie asset protection … [Read more...] about 5 Threats to Your Assets
The death of a loved one is usually followed by a period of heightened emotions. Finding out that you were named as the Executor of the decedent’s estate can add additional stress during an already trying time. One of the first things you will need to do is to initiate the probate of the estate. That may have you wondering if you need an attorney to help you. A Bowie probate attorney at Sinclair … [Read more...] about Do I Need an Attorney If I Am the Executor of an Estate?
One of the most important aspects of estate planning is choosing people for the fiduciary roles within your plan. This is also an area where people frequently make mistakes. A Bowie estate planning attorney at Sinclair Prosser Gasior helps you decide who to choose as fiduciaries in your estate plan. What Is a Fiduciary? The law defines a fiduciary as “a person who holds a legal or … [Read more...] about How to Choose Your Fiduciaries
A Living Trust is a way to hold title to assets, just like sole ownership or joint tenancy. The main reasons most individuals choose an estate plan that includes a Revocable Living Trust is to avoid probate. The only way to accomplish this is to set up the trust properly and fund your trust. Funding a trust is the process of transferring your assets to the ownership of your trust. Once ownership … [Read more...] about How to Fund Your Revocable Living Trust
When you think about the priorities in your estate plan, you likely think about the need to ensure that your loved ones are provided for in your absence. That causes you to focus on creating a plan to distribute your estate assets according to your wishes. While it is always important to focus on how your estate assets will be passed down to loved ones, it is equally important to incorporate tools … [Read more...] about Asset Protection Planning for Seniors
The acronym HIPAA stands for the Health Insurance Portability and Accountability Act of 1996. In this post, we will explain why this piece of legislation is something to take into consideration when you are planning your estate. Advance Directives for Health Care Everyone is well aware of the fact that you have to facilitate postmortem asset transfers when you put your estate plan in place. A … [Read more...] about What Is a HIPAA Release?
"Don’t Junk that Old Car Yet!" by Attorney Victor Lembo (Audio) Recently, the owner of a 1970 Ford Mustang put his car on eBay for sale. According to reports, the Mach 1 appeared to have faded paint and some wear and tear, but the true value of the vehicle was hidden. The Denver-based owner first used it in high school and sold it in 1984. However, he recently tracked it down and bought it back … [Read more...] about Don’t Junk that Old Car Yet!
"What’s Your Generation?" by Attorney Victor Lembo (Audio) Whether sitting at the doctor’s office, ordering dinner, or simply watching television, there are constant reminders about how we grew up and how we like to do things. For example, how do you get to the doctor – perhaps you walk, drive or Uber? Do you prefer to eat in the restaurant, pick up curbside, or order through an app? Do you … [Read more...] about What’s Your Generation?
"Insurance to Protect Your Assets" by Attorney Victor Lembo (Audio) We all want to ensure our families are protected in times of need, as we never know what life has around the next corner. Keeping your money secure can be a challenge, and as estate planning attorneys, Sinclair Prosser Gasior can help make certain that you are taking the necessary steps to protect your family and assets. For … [Read more...] about Insurance You Need to Protect Your Assets