Is It Time To Update Your Estate Plan? Michael Crichton is one of the bestselling authors and screenwriters of all time. His estate was worth many millions of dollars when he died at age 66, leaving behind a pregnant wife. Crichton had a Will and a Trust, but they had not been reviewed or updated. So, they did not mention the son who would be born just months after Crichton’s death. Crichton was a resident of California, and like many other states, California has laws that protect children … [Read more...] about Should You Trust Your Estate Plan?
Why create an estate plan? You don’t have to be a millionaire to benefit from an estate plan. Reasons to create an estate plan are as unique as the individuals who create them. If you own a home, have minor children and/or grandchildren, grown children in their own marriages, have been divorced, own a business, or expect to receive an inheritance of your own, you need to take action now. Here are the common reasons you need to not only build and protect your hard-earned money, but transfer … [Read more...] about 15 Common Reasons To Do Estate Planning
One morning you wake up and ask yourself, “Where has the time gone?” Your babies are now adults and likely parents themselves. You have done your job of raising responsible adults with lives of their own. You have taught them right from wrong, how to treat others, and many other important life skills. Although they are off on their own, you still worry and want to protect them from all of life’s uncertainties. The question of what will happen to your children without you or their own partner … [Read more...] about Grandparents’ Guide To Second Generation Planning
As citizens of a culture that worships youth, most of us find it nearly impossible to admit our own mortality, much less make plans for that eventuality. Denial, however, offers no protection from the inevitable. And, as it turns out, we have far more to gain than to lose by sitting down in advance to plan for every contingency life may throw at us. To help you begin this important process, here are the essential items that should be on your list of basic estate planning objectives. Pre-Need … [Read more...] about Peace Of Mind
If you’re like most people you probably just want an estate plan to give your estate to whom you want, when you want and how you want. You don’t want to become a lawyer and figure out how to make all this happen. You just want an estate plan to do what estate plans have traditionally done: Distribute your assets to the people you choose. Eliminate Living Probate: If you become disabled or are unable to manage your estate, your successor Trustee will step in and manage your affairs … [Read more...] about Creating a Lasting Legacy
Is it time to update your estate plan? Are you concerned about the safety of your bank accounts? If so, your fears are justified. Early in 2008, the Federal Deposit Insurance Corporation (“FDIC”), which insures bank deposits, reported the biggest jump in "problem institutions" it has seen since the Savings and Loan Crisis of the late 1980s. The FDIC identified 76 banks in trouble, a 52% increase from the prior year. But there’s also good news. With proper planning you can protect your … [Read more...] about Are Your Bank Accounts Safe?
Beware of Living Trust Scare Tactics By now most of America is familiar with the tragic events of Terri Schiavo’s life. No matter how you may feel about the moral and political issues that have arisen, most Americans would agree that they would not want their families to suffer through the 15-year ordeal that Terri and her family endured. Fortunately, there are means within easy reach of any American to plan for end-of-life medical decisions. Born to Mary and Robert Schindler on … [Read more...] about Your Life, Your Final Say
Want to see two groups who make the Republicans and Democrats look like one big, happy family? Then put into one room those attorneys who believe in probate and those who prefer their clients manage their affairs with a Revocable Living Trust. You’ll get as contentious an assembly as you could possibly hope for. For seniors, the debate has special meaning because the vast majority of probate cases revolve around the affairs of those Americans age 60 and over. This report from the American … [Read more...] about What Every Senior Should Know About Probate
Who Will Care For Your Pets? If you have a dog, cat or other pet, you know that the unconditional love and affection our pets devote to us improve the quality of our lives in ways nothing else can. This is why they deserve our respect and dedication even after we pass away or become incapacitated. Unfortunately, if a pet owner becomes unable to care for his or her pets, they often end up living on the street. Thousands of pets are orphaned every year in the United States. To prevent your … [Read more...] about To My Dog Lucky
Why create an estate plan? For most of our lives the greatest risk to our well-being isn’t death. It’s the ever-growing likelihood of becoming seriously ill or injured. As Carolyn Henderson* anxiously watched her husband’s flickering vital signs on the Intensive Care Unit monitor, she considered the irony of their circumstances. When she and Kirk planned how they might spend their thirtieth wedding anniversary, this sickbed vigil was the farthest thing from their minds. But then on the … [Read more...] about The Nightmare of Living Probate