A lot of people put estate planning on the back burner because it seems like an overwhelming task, and they don’t know where to begin. This is understandable to some extent, and in this post, we will look at five must-have documents to provide you with a starting point. Asset Transfers The first order of business will be to state your wishes with regard to the way you want your assets to be distributed after your passing. A will is a possibility, but this document is really not the right … [Read more...] about You Need These Five Estate Planning Documents
Dealing with Stress and Anxiety (Video)
In this Vlog, Geriatric Care Manager Dedra Jize offers some important advice on dealing with stress and anxiety. Litherland, Kennedy & Associates, APC, Attorneys at Law are members of the American Academy of Estate Planning Attorneys. If you would like to learn more about the importance of estate planning, we invite you to attend one of our free estate planning webinars. … [Read more...] about Dealing with Stress and Anxiety (Video)
Joint Tenancy Problems in Estate Planning
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. Sometimes people use Joint Tenancy as a simple way to do Estate Planning. This can have drawbacks, sometimes serious and unexpected. First, why is Joint Tenancy a simple way to do Estate Planning? At the death of a joint tenant, the property automatically transfers by operation of law to the remaining joint tenant(s). This can be attractive because it bypasses the … [Read more...] about Joint Tenancy Problems in Estate Planning
How Will You Obtain the Care You Need?
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. As Americans grow older, more and more of us need help with our daily activities. It could be a little help or a lot of help, depending on the situation. Of course, the level of assistance we need can change over time. According to a study by Bankers Life Center for a Secure Retirement, 68% of middle-income boomers are providing care for a parent and 17% are … [Read more...] about How Will You Obtain the Care You Need?
Updating Your Plan: Beneficiary Designations
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is a bonus part of a series of articles on updating your plan. The first article examined the importance of updating your Powers of Attorney, both Financial and Medical. The second part of the series looked at the importance of updating your primary estate planning document, such as your Trust or Will. Together, these documents are the keystone in even the most … [Read more...] about Updating Your Plan: Beneficiary Designations
Updating Your Plan: Your Trust or Will
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is the second in a two-part series of articles on updating your plan. This first article examined the importance of updating the Powers of Attorney, both Financial and Medical. This second part of the series looks at the importance of updating your primary estate planning document, such as your trust or will. Together, these documents form the core of even the … [Read more...] about Updating Your Plan: Your Trust or Will
Updating Your Plan: Powers of Attorney
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is the first in a two-part series of articles on updating your plan. This first article examines the importance of updating Powers of Attorney, both Financial and Medical. The second part of the series looks at the importance of updating your primary estate planning documents, such as your Trust or Will. Together, these documents are the keystone in even the most … [Read more...] about Updating Your Plan: Powers of Attorney
Planning for Incapacity
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. Every year, many people in the United States are unable to manage their own affairs due to incapacity. They might be young or old. They may have had a gradual decline or a sudden onset. They might have had a stroke, heart attack, or some disabling disease such as Parkinson’s, Alzheimer’s, or COVID-19. If you are incapacitated without having prepared, it can be an … [Read more...] about Planning for Incapacity
Preparing for the Unexpected…and the Eventual
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. All of us face difficulties and tragedies in our lives. Some of these difficulties are expected and some are unexpected. 2020 has been a year of many unexpected difficulties. While all of us get sick from time to time, nobody anticipated the COVID-19 pandemic. Over 15 million Americans have caught the disease, resulting in the deaths of over 290,000 … [Read more...] about Preparing for the Unexpected…and the Eventual
Generational Wealth is Key to Leveling the Playing Field
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. Even a little bit of a headstart can be extremely helpful in life. Those who start with little economic wealth, including many minorities and recent immigrants, face obstacles in obtaining a good education and building a business or a solid career. Those who have a headstart in life have an easier path to success and happiness. It doesn’t mean they will have … [Read more...] about Generational Wealth is Key to Leveling the Playing Field
