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
Chadwick Boseman Demonstrates the Importance of Planning
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc The star of multiple films, including the blockbuster superhero film “Black Panther,” died on August 28 of colon cancer. “Black Panther” by Marvel was nominated for 6 Academy Awards, including Best Picture. The film grossed over $1.3 billion worldwide. Chadwick Boseman became a role model for millions by playing Marvel Studio’s first Black superhero. Boseman also … [Read more...] about Chadwick Boseman Demonstrates the Importance of Planning
Staying Current is Especially Important in the Pandemic
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. In the United States alone, the pandemic has infected nearly 8.5 million people and has killed nearly 227,000 of them. In today’s pandemic, it’s more important than ever to make sure your estate planning documents are current. It’s especially important to ensure your documents relating to your health are up-to-date. Those documents are the Health Care Power of … [Read more...] about Staying Current is Especially Important in the Pandemic
Leaving Assets Can Be Tricky – Part 3
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. Maybe you grew up without much. You worked hard. You earned a good education. You succeeded in life even though the streets weren’t paved with gold where you grew up. In fact, maybe you grew up in a very impoverished, oppressed community. Now you (and your spouse if you’re married) have accumulated enough so you’re comfortable. Maybe you’re not a billionaire, but … [Read more...] about Leaving Assets Can Be Tricky – Part 3
Leaving Assets Can Be Tricky – Part 2
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. Maybe you grew up without much. You worked hard. You earned a good education. You succeeded in life even though the streets weren’t paved with gold where you grew up. In fact, maybe you grew up in a very impoverished, oppressed community. Now you (and your spouse if you’re married) have accumulated enough so you’re comfortable. Maybe you’re not a billionaire, but … [Read more...] about Leaving Assets Can Be Tricky – Part 2
Leaving Assets Can Be Tricky
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. Maybe you grew up without much. You worked hard. You earned a good education. You succeeded in life even though the streets weren’t paved with gold where you grew up. Maybe you even grew up in a very impoverished, oppressed community. Now you (and your spouse if you’re married) have accumulated enough so you’re comfortable. Maybe you’re not a billionaire, but you … [Read more...] about Leaving Assets Can Be Tricky
A Living Trust Can Protect a Spendthrift
There are many different tools in the estate planning toolkit, so you should be aware of all of your options so that you can make the right choices. A lot of people assume that there are certain risks that must be taken, but for the most part, this is not the case at all. This dynamic can enter the picture when it comes to leaving an inheritance to a loved one that is not very good at managing money. If you leave a lump sum inheritance, the individual could burn through it very quickly, and … [Read more...] about A Living Trust Can Protect a Spendthrift
The Basics: “HIPAA” Powers
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is the third in a three-part series of articles on Powers of Attorney. The first article examined the Financial Power of Attorney. The second article examined the Healthcare Power of Attorney and Advance Directive. This third article in the series focuses on a “HIPAA” Power of Attorney. These three documents are the keystone in even the most basic estate … [Read more...] about The Basics: “HIPAA” Powers
