For many years Estate Planning attorneys touted irrevocable trusts as an immutable way to set an estate plan in stone. As more and more states have adopted the Uniform Trust Code that has changed. Provisions of the Uniform Trust Code allow for modification of an otherwise irrevocable trust which has altered the landscape of Estate Planning. Irrevocable Trusts have long been an effective, albeit static, estate planning tool, with the ability to alter irrevocable trusts, they provide more … [Read more...] about Are Irrevocable Trusts Really Irrevocable – Part I
Homeowner Insurance, Title Insurance, and Your Living Trust (VIDEO)
In this Vlog, Litherland, Kennedy & Associates Attorney Justin M. Kennedy discusses the importance of adding your Living Trust as an additionally insured on your Homeowner, Fire, Earthquake, Flood and Title Insurance policies. If you have transferred your home or other real estate into your Living Trust, there is another important step you should consider: reviewing the insurance policies connected to that property. Recent natural disasters, including major fires in … [Read more...] about Homeowner Insurance, Title Insurance, and Your Living Trust (VIDEO)
Proper Estate Planning Brings Peace of Mind During a Disaster
Estate planning isn’t just about securing your legacy—it’s about protecting your assets and loved ones when disaster strikes. Updating an outdated Estate Plan or creating a new one provides a set of instructions for your family regarding what you want to happen during your life if you lose the ability to communicate that and at death. It provides comfort and a sense of control. This article will serve as a guide to getting more out of your Estate Plan during a disaster. Read on to learn more. … [Read more...] about Proper Estate Planning Brings Peace of Mind During a Disaster
Balancing Efficiency and Excellence: The Perils of Boilerplate in a Busy Estate Planning Practice
The past few years have brought more people than ever to the world of Estate Planning. Whether prompted by global uncertainty, changes in tax law, or a desire for peace of mind, families and individuals are eager to put their affairs in order. At the same time, attorneys have worked tirelessly to meet that demand—often managing more clients and cases than ever before. With this increased volume, efficiency has become essential. But in the rush to serve everyone well, it’s important not to … [Read more...] about Balancing Efficiency and Excellence: The Perils of Boilerplate in a Busy Estate Planning Practice
Litherland, Kennedy & Associates – A Half-Century Strong (VIDEO)
In this Vlog, Litherland, Kennedy & Associates Attorney and President celebrates the major milestone of the firm providing 50 years of service to our community. Transcript: Hello, I'm attorney Justin M. Kennedy. This year, I am honored to celebrate a major milestone with our team at Litherland, Kennedy & Associates: 50 years of service to our community. Our office was founded in 1975 with the goal of providing quality legal services and education in the Bay Area. Our … [Read more...] about Litherland, Kennedy & Associates – A Half-Century Strong (VIDEO)
Why Do People Use Living Trusts?
Many people think that trusts are only useful for wealthy people with estate tax concerns, but this is not the case at all. In fact, the revocable living trust is a versatile estate planning tool that can be ideal for a wide range of people. In this post, we will look at four reasons why you may want to use a living trust as the centerpiece of your estate plan. Streamlined Estate Administration Process When you establish a living trust, you make the trust the owner of your personally held … [Read more...] about Why Do People Use Living Trusts?
The Different Stages of Estate Planning
Estate planning is an essential part of financial management. It ensures that your financial and healthcare decisions can be made as you see fit should you become incapacitated, and that your assets are distributed according to your wishes after your death. The ideal approach to estate planning evolves as you age, reflecting changes in your financial situation, family dynamics, and personal goals. Here's a guide to understanding the different stages of estate planning through various life … [Read more...] about The Different Stages of Estate Planning
Pumpkin Kisses and Harvest Wishes
As the spooky season transitions into the season of Thanksgiving, it’s important to remember our why. Most of us do what we do for our families and loved ones. As the holiday season approaches, do something that will have a lasting impact on your family. Create a comprehensive Estate Plan. Make sure that you take the time to consult a qualified Estate Planning attorney who can provide advice regarding all the elements necessary to complete your plan. Read on to learn more. … [Read more...] about Pumpkin Kisses and Harvest Wishes
Estate Planning: There’s Something Here for Everyone – Part II
Some individuals create a Revocable Trust, pour-over Will, Property Power of Attorney, Health Care Power of Attorney, Living Will, Health Insurance Portability and Accountability Act Authorization Act and think that those documents alone constitute a complete Estate Plan that will protect their family. While the documents themselves represent a solid beginning, the documents don’t cover every asset or concern. A qualified Estate Planning attorney will consider all and provide advice regarding … [Read more...] about Estate Planning: There’s Something Here for Everyone – Part II
How to Start the Estate Planning Conversation Today
Has your family discussed estate planning? American families are facing a future crisis. A 2023 survey found that only one-third of U.S. adults have an estate plan. Though that statistic increases to 44% for those age 55 and older, it is still a wildly insufficient number that will lead to confusion and stress for many. October 21 kicks off National Estate Planning Awareness Week, and it is clear that many need help understanding the benefits of getting their affairs in order. As estate … [Read more...] about How to Start the Estate Planning Conversation Today
