In far too many cases, loved ones are left behind to deal with difficult circumstances because of estate planning mistakes that were made by family members. With this in mind, we will look at some common estate planning mistakes in this post so you can steer clear of these scenarios. DIY Estate Planning There are websites on the Internet that sell boilerplate, fill in the blanks legal documents. The marketing approach revolves around the idea that anyone can play the role of an attorney and … [Read more...] about Avoid These Common Estate Planning Mistakes
Estate Planning: Make Today the Day
Studies are conducted periodically to gain an understanding of the estate planning preparedness of adults in the United States. Unfortunately, the results are never encouraging. Most people that are over 65 have a will or some other estate planning document, but a significant percentage of people in this age group do not. The vast majority of Americans that are under the age of 40 are completely unprepared. If you are a young adult and you are single, you should have a will or a trust, but … [Read more...] about Estate Planning: Make Today the Day
Estate Planning is Too Important to Procrastinate
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. Most of us recognize that estate planning is the loving and responsible thing to do. Yet, only 44% of adult Americans even have so much as a simple Will, according to a Gallup poll. Our world is increasingly complex. It seems our lives are busier than ever. Interestingly, this may not be what leads us to procrastinate. According to Psychology Today, there are three … [Read more...] about Estate Planning is Too Important to Procrastinate
Basics of Estate Planning: Privacy and Estate Planning
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning. From the dawn of time, humans have been concerned with privacy. In the biblical story of Adam and Eve, the couple sought the privacy provided by fig leaves as they left the Garden of Eden. When species Homo sapiens emerged, privacy was essential to protect against predators. In today’s world, … [Read more...] about Basics of Estate Planning: Privacy and Estate Planning
What Happens to My Property If I Die Without a Will or Trust in California?
Estate planning is important for all responsible adults, and everyone should have a last will in place at a minimum. If you do not execute any estate planning documents you will die intestate, and the outcome of this is not consistent with most people's wishes. When you die without a last will or a trust in California directing the transfer of your assets, the condition of intestacy results. Under circumstances where you pass away without having a will or trust and no living relatives, the … [Read more...] about What Happens to My Property If I Die Without a Will or Trust in California?
Be Aware of the Dangers of DIY Estate Planning
Any time you would like to access information about any facet of estate planning, we invite you to visit our website. We have accumulated a rather extensive digital library of free special reports that cover all areas of estate planning and elder law. One of these reports examines the dangers of DIY estate planning. There are websites out there that sell generic legal documents including estate planning devices. There are things that can go wrong when you use a download or worksheet to create … [Read more...] about Be Aware of the Dangers of DIY Estate Planning
Reality TV Show “Will Wars” Planned
The public seems to absolutely love reality shows of all kinds, and apparently a new one is in the works: Will Wars. Estate disputes are not entirely uncommon. This is especially true when you're talking about a great deal of money. There can be some "juicy" circumstances surrounding such disputes, and the producers of Will Wars see a lot of potential there. The website The Trust Advisor was contacted by the producers of the show for promotion purposes and to reach out for some specific … [Read more...] about Reality TV Show “Will Wars” Planned
Arrests Made in Will Forgery Case
Your first thought when you hear about someone challenging a will may be that the individual presenting the challenge can't accept the decisions of the deceased. Indeed, there are cases where someone feels as though he or she has been treated unfairly. Of course, that in itself does not render a will invalid by any stretch of the imagination. You have a right to leave inheritances as you see fit, and you have a right to disinherit people as you see fit. The above being stated, there are times … [Read more...] about Arrests Made in Will Forgery Case
Various Different Wills Used in Estate Planning
Aside from the last will, or last will and testament as it was traditionally called, there are some other types of wills used in the field of estate planning. One of these is the living will. This is an important advance health care directive, and unfortunately the majority of people in the United States are going through life without a living will. This type of will is not a financial instrument. Living wills are used to state your preferences regarding medical procedures. Your choices as … [Read more...] about Various Different Wills Used in Estate Planning
All Responsible Adults Need an Estate Plan
When you examine the statistics, you find that the majority of people in the United States have not executed all of the recommended estate planning documents. Many of us live busy lives and procrastination can often be the order of the day, but there is really no excuse for going through life without making any preparations for the inevitable. Even if your situation is not very complex, it is important to express your final wishes with regard to the distribution of your financial assets via the … [Read more...] about All Responsible Adults Need an Estate Plan
