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Robin Williams’ Estate Plan

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  Robin Williams' untimely death came as a shock to the world this past August.  As devastating as an unexpected, sudden death can be for the family, the need to settle the estate only adds to the stress of an already overwhelming situation. However, having an estate plan in place reduces the uncertainty and unknowns for the grieving family members, since the deceased person has already documented … [Read more...] about Robin Williams’ Estate Plan

Privacy in Estate Planning

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  In these times of technology and security breaches, our personal privacy is a top concern.  If you choose a Last Will and Testament as your estate planning document, or you choose not to create an estate plan at all, and you pass away, do you realize that private, personal information will be revealed to the public?  Most people don’t, however that may be exactly what will happen in a process … [Read more...] about Privacy in Estate Planning

What Is a Medicaid Asset Protection Trust? How Does It Work?

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  If you are considering applying for Medicaid for yourself or a loved one to pay for costly nursing home expenses, you may already be familiar with the financial requirements that a person must meet in order to qualify for Medicaid. Without getting into the details of all of the rules and exceptions, for a single person to qualify for Medicaid they must have no more than $2500, can keep a house, … [Read more...] about What Is a Medicaid Asset Protection Trust? How Does It Work?

Who is Responsible to Pay the Debt of a Deceased Loved One?

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  If you've helped settle an estate before or even sorted through the belongings of a deceased love one, you're probably familiar with the debt that continues to accrue following their death.  Recent medical expenses and credit card bills are common, and children handling a parent’s estate are often concerned that they are responsible for paying this debt. Family members are generally not … [Read more...] about Who is Responsible to Pay the Debt of a Deceased Loved One?

Why Traditional Estate Planning May Not Be the Answer

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   Most estate planning lawyers, accountants, and financial advisors in the field of traditional estate planning are taught only two things: protect the clients’ material wealth from the evils of probate and taxes.  Now let me ask you, just as a reality check, how do most people actually plan their estates?  In our experience, they either do nothing or they create a simple Will, to look after a … [Read more...] about Why Traditional Estate Planning May Not Be the Answer

Beneficiary Designations

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If you have an employer-sponsored retirement plan, life insurance policy, annuity, or other  retirement account, you probably specified a beneficiary to inherit the proceeds upon your death.  Beneficiaries can also be named on brokerage accounts, certificates of deposit, mutual fund accounts, and checking or savings accounts. These accounts become known as payable on death, or transfer on death … [Read more...] about Beneficiary Designations

“You’ve Signed Your Estate Planning Documents, Now What?”

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  You met with an estate planning attorney to establish a comprehensive estate plan that will protect your assets and continue to provide for your family when you cannot.  Today you signed your Revocable Living Trust, Pour-Over Will, Property Power of Attorney, Health Care Power of Attorney, Living Will and Medical Directive.  You feel pretty good about yourself and pleased that you have taken the … [Read more...] about “You’ve Signed Your Estate Planning Documents, Now What?”

4 Important Reasons Why You Need an Estate Plan

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Some believe they have not accumulated enough wealth or assets to warrant an estate plan at the present moment.  In light of the fact that many young people are saddled with debt, either from credit cards or student loans, it may seem unnecessary to formulate a plan that transfers wealth if your liabilities exceed your assets. However, a simple will is important for young couples who have children … [Read more...] about 4 Important Reasons Why You Need an Estate Plan