Litherland, Kennedy & Associates, APC, Attorneys at Law

Picking up the Pieces After Divorce Compliments of The Litherland, Kennedy & Associates, APC, Attorneys at Law Written By: The American Academy of Estate Planning Attorneys Consider all the planning a couple may do during the course of their lives: purchasing a home, building a business, starting a family – the list is endless. However, no one plans for a break-up. So what happens when there’s no longer a “happily ever after?” What will our finances, our emotions and even our future look … [Read more...] about Picking up the Pieces After Divorce

Provided by The Litherland, Kennedy & Associates, APC, Attorneys at Law Written By: The American Academy of Estate Planning Attorneys When it comes to estate planning, Ted and Emily thought they were ahead of the game. They went to their attorney for help with estate planning and created a Trust to protect their assets. They are in company with about only 21 percent of Americans who also have a Trust. After their lawyer prepared documents, they signed or “executed” their revocable Trust, and … [Read more...] about Funding: What Should Ted and Emily Have Done

Written By: The American Academy of Estate Planning Attorneys The end of the holiday season can sometimes bring families both sadness and relief. While the holidays are a time when loved ones get together to enjoy each other’s company, holiday stress can certainly lead to trivial arguments and miscommunications. Imagine the disagreements that can arise if something more serious were to happen like leaving your loved ones behind to divide up property if you didn’t plan properly. A dispute over … [Read more...] about Family Feud – Don’t Let This Be Your Legacy

Planning for Adoption Written By: The American Academy of Estate Planning Attorneys In 2013, a Florida court set aside an adoption in a case called Goodman v. Goodman. There was no upset child or devastated parents in this case, because Mr. Goodman adopted his adult girlfriend. Mr. Goodman and his ex-wife had created an Irrevocable Trust for their shared children, but the couple subsequently divorced. Mr. Goodman decided to adopt his girlfriend so she would become a beneficiary of the Trust and … [Read more...] about Planning for Adoption

Estate Planning for Young Adults Written By: The American Academy of Estate Planning Attorneys Parents know there is no statute-of-limitations on worrying about their kids. Your interest in your child’s health does not end once your son or daughter reaches adulthood. However, your legal interest in having a say about your child’s medical care ends on the day that he or she turns 18. This means that while you have the final word about medical care one day, the next day you will not even have … [Read more...] about Estate Planning for Young Adults

Open Communication Avoids Disputes After Death Written By: The American Academy of Estate Planning Attorneys When leaving behind a legacy for children or loved ones, parents hope that it will bring joy to the recipient. Although nothing can mitigate the sorrow after a death occurs, an inheritance can sometimes alleviate financial worries. Of course, it is not just the money that matters. For as many as 74 percent of Americans, keeping their family history alive is what’s most important after a … [Read more...] about Open Communication Avoids Disputes After Death

How to Leave Behind a Lasting Legacy for Your Loved Ones Written By: The American Academy of Estate Planning Attorneys In the United States, the average American retiree will leave an estate of around $177,000 to their loved ones. According to CNN Money, this is the sixth highest estimated amount of any country. Retirees in Australia, Singapore, the United Kingdom, France and Taiwan all leave more to their heirs than those in the United States. Whether you have more or less than the average to … [Read more...] about How to Leave Behind a Lasting Legacy for Your Loved Ones

Selecting an Estate Planning Attorney Wisely Written By: The American Academy of Estate Planning Attorneys When former NFL quarterback, Steve McNair, died without a Will, his family members were left to fight over his expansive estate. Immediately after his death, although news reports indicated the NFL-star had provided instructions to his family and that his wife wasn’t trying to exclude his mother from inheriting, things quickly deteriorated. Two years later, on the anniversary of McNair’s … [Read more...] about Selecting an Estate Planning Attorney Wisely

Compliments of the Litherland, Kennedy & Associates, APC, Attorneys at Law Written By: The American Academy of Estate Planning Attorneys  A simple search online these days can turn up lots of advice regarding the importance and benefits of buy-sell agreements, deferred compensation agreements, and life insurance in family business succession planning. While knowing this information is valuable when thinking about the transition of a family business from one generation to the next, none of it … [Read more...] about Facing Reality: The Essence of Family Business Succession Planning

Compliments of the Litherland, Kennedy & Associates, APC, Attorneys at Law Written By: The American Academy of Estate Planning Attorneys When receiving an inheritance, few people consider that there may be a big decision looming. You are still mourning the passing of someone dear to you when you learn about the inheritance. While you continue with your daily life, numb from the emotional loss, the estate or Trust Administration process continues, which eventually leads to the distribution of … [Read more...] about Sometimes “No” is the Best Answer