Litherland, Kennedy & Associates, APC, Attorneys at Law

Compliments of The Litherland, Kennedy & Associates, APC, Attorneys at Law Written By: The American Academy of Estate Planning Attorneys If you have a pet, you know firsthand the bond that can develop between humans and animals. Many of us consider our pets part of the family. But have you considered what would happen to your furry or feathered companion if something were to happen to you? Over 500k pets are abandoned each year due to the death or disability of their owner. These pets could have … [Read more...] about How a Pet Trust Can Protect Your Furry Friends

Compliments of the Litherland, Kennedy & Associates, APC, Attorneys at Law Written By: The American Academy of Estate Planning Attorneys Irrevocable trusts are a common estate planning tool, and they provide valuable benefits in a variety of planning situations. For example, irrevocable trusts can be used: To transfer assets to a beneficiary, while restricting the circumstances under which that person can access the trust property. To make property available for a beneficiary to use, while … [Read more...] about Is an Irrevocable Life Insurance Trust Right for You?

Compliments of  The Litherland, Kennedy & Associates, APC, Attorneys at Law Written By: The American Academy of Estate Planning Attorneys There is a common misconception that as long as you’re healthy, there’s not much need to think about who would make medical decisions on your behalf, should you be unable to make them. When you are healthy, you discuss your health care concerns with your doctor and are able to express your own wishes. But who would voice your decisions in the event of an … [Read more...] about Protect Your Right to Make Medical Decisions

Compliments of  The Litherland, Kennedy & Associates, APC, Attorneys at Law By: The American Academy of Estate Planning Attorneys www.aaepa.com • blog.aaepa.com Your first meeting with an estate planning attorney may seem a little daunting, especially if you’ve never consulted an attorney before. There’s no need to worry, however. This meeting is just a conversation in which your attorney will find out about you, your family, and your goals. After you’ve shared this information, your … [Read more...] about What to Expect at Your First Estate Planning Consultation

Compliments of  The Litherland, Kennedy & Associates, APC, Attorneys at Law Written By: The American Academy of Estate Planning Attorneys Not long ago, wives were “silent partners” when it came to estate planning. Husbands were the ones in charge of long-term planning and major financial decisions. In fact, estate planning attorneys often advised wealthy men to leave their assets in trust for their wives, so that a trustee other than their wife could manage and preserve the family fortune. It … [Read more...] about Five Things Every Woman Should Know About Estate Planning

Compliments of The Litherland, Kennedy & Associates, APC, Attorneys at Law By: The American Academy of Estate Planning Attorneys One of the biggest myths about estate planning is that it is something only wealthy people need because the only reason for having an estate plan is to minimize estate taxes. The truth is, estate taxes are only a tiny piece of the estate planning puzzle – and every adult needs an estate plan. Here are just a few non-tax reasons to plan: Put the Appropriate People … [Read more...] about Five Non-Tax Reasons You Need an Estate Plan

Compliments of  The Litherland, Kennedy & Associates, APC, Attorneys at Law By: The American Academy of Estate Planning Attorneys The holiday whirlwind is over, you’ve packed up the decorations, and life is settling into its familiar routine. Your thoughts are likely turning to the coming year, and the things you’d like to accomplish over the next twelve months. Maybe you have ten pounds to lose. Perhaps you want to learn a new language, or set aside more time for family and friends. No matter … [Read more...] about This New Year, Resolve to Review Your Estate Planning Options

Compliments of  The Litherland, Kennedy & Associates, APC, Attorneys at Law By: The American Academy of Estate Planning Attorneys Avoid Information Overload Estate planning is a complex topic, and it can involve abstract concepts that are only familiar to experienced estate planning attorneys. If you Google “estate planning,” “will” or “living trust,” you’ll likely be faced with information overload. You’ll have mountains of loosely related bits of information, but no real way to connect all … [Read more...] about What You Should Know About Seminars on Wills & Living Trusts

Compliments of The Litherland, Kennedy & Associates, APC, Attorneys at Law By: The American Academy of Estate Planning Attorneys Giving generously to charity has many advantages, some obvious, and some not so obvious. First and foremost, your donation helps to support your favorite cause. Giving also makes you feel great, and if you itemize deductions on your tax return, gifts to qualified charities may result in an income tax deduction. But what if you want to do a little more, and make a … [Read more...] about Three Ways the IRS Rewards Your Generosity

Compliments of Litherland, Kennedy & Associates, APC, Attorneys at Law By: The American Academy of Estate Planning Attorneys We’ve all dreamed of suddenly becoming wealthy by winning a lottery jackpot, receiving an unexpected inheritance, or some other happy accident. However, few of us consider what steps we would take to manage a windfall. Without careful management, your dream come true could quickly turn into your worst nightmare. What steps should you take to ensure that you stay out of … [Read more...] about Three Simple Steps for Managing a Windfall