When You’re Expecting an Inheritance

The “great wealth transfer” is underway. Over the next few decades, Baby Boomers will pass on $30 trillion in assets to Generation X and Y. If you’ve talked to your older loved ones about estate planning, you may have an idea of the scope of the assets that will wind up in your hands eventually. Have you calculated how this will affect your own estate planning?

Continue reading “When You’re Expecting an Inheritance”

What Will Happen to Your Digital Assets When You Pass Away?

digital assets

Much attention is given to how to handle your personal property after death, in the physical world. What about the digital footprint you have left behind? From cryptocurrency to domain names to online stores to your Twitter feed – do you have a plan in place for each of these digital assets and who will assume ownership or responsibility for termination?

Continue reading “What Will Happen to Your Digital Assets When You Pass Away?”

How Estate Planning Changes After Your Children Graduate

estate planning

 

Young children in the family offer powerful motivation for parents to put an estate plan in place. It’s imperative to ensure growing young ones will be taken care of by the desired guardian in the event of a parent’s premature passing, and it’s important that the guardian have access to the funds to “launch” the child in place of the deceased parent.

Continue reading “How Estate Planning Changes After Your Children Graduate”

5 Factors to Consider When Naming a Personal Representative

personal representative

So you’ve decided to have your will and estate plan drafted. This process involves identifying what assets you own, where they should go and how they should be given to the recipient. Another important step in estate planning is choosing an individual to oversee the entire process once you’re gone.

This person plays a critical role in the management and distribution of your assets after your passing, and they’re referred to as your personal representative. To have control over the individual chosen for this responsibility, you must name the person in your will. If you do not, the court will select a representative for you, which will most likely be your spouse or a close relative.

Continue reading “5 Factors to Consider When Naming a Personal Representative”

How to Talk with Aging Parents About Estate Planning

estate planning

“Mom, dad, we need to talk.” Many people dread discussing financial arrangements with their elderly parents. It’s not easy reminding our parents that their time left on this earth is limited, but it’s necessary for their (and your) peace of mind.

So, what’s the best way to talk to your aging parents about estate planning? We’ve provided a few sincere approaches to help broach that intimate conversation.
Continue reading “How to Talk with Aging Parents About Estate Planning”

How to Prepare for Your First Estate Planning Session

estate planning

Whether you’re a newlywed or a retiree, you should have an estate plan. An estate plan is more than a will alone. An estate plan consists of multiple documents underlining the “whos,” “whats,” and “hows” of the management of your finances, assets and family matters in case of your absence.

As opposed to the average firm that may ask their clients to come prepared with countless document copies and no tough questions, our team offers guidance through every step of the process. In preparation for your first estate planning session, we came up with a brief list on how you can prepare to meet with us.
Continue reading “How to Prepare for Your First Estate Planning Session”

5 Estate Planning Resolutions to Follow in the New Year

estate planning

Change is inevitable, but preparation is not. If you don’t invest time in estate planning, your family could be caught unawares. With the new year upon us, why not add estate planning to your list of resolutions? Many unforeseen events occur every year, and in case of sudden misfortunes, it’s wise to protect your loved ones and assets. Below are five estate planning resolutions to consider for the new year:
Continue reading “5 Estate Planning Resolutions to Follow in the New Year”

6 Estate Planning Mistakes You Should Avoid

estate planning mistakes

You want peace of mind knowing that your loved ones are taken care of after your death. While it may be difficult to think about, preparing a will and revisiting former estate plans are the best way to prevent needless mistakes in the future, many of which could cost your family thousands of dollars.

Attorneys that are experienced in this area can help their clients avoid making these six disastrous estate planning mistakes:

Continue reading “6 Estate Planning Mistakes You Should Avoid”

Are You Prepared for These 5 Major Life Moments?

major life moments estate planning

There are some moments in life it’s impossible to prepare for on an emotional level. But when it comes to your finances, it is possible to be proactive. An estate planning lawyer can help.

Estate planning can help you at all times in your adult life, but you will see the greatest benefit the earlier you begin. Here are five key milestones where estate planning is essential:

Continue reading “Are You Prepared for These 5 Major Life Moments?”