Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys As we retire and get ready for the next stage of our lives, many of us have a plan in place outlining what we wish to leave to our sons, daughters, grandchilden, or other loved ones, or perhaps to charity. It's imperative to review your estate plan periodically, especially if you or your spouse are getting on in years, or if your health is failing, to ensure that it continues to meet your goals. Time usually … [Read more...] about There’s No Time Like the Present to Review your Plans

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys Parents dream many dreams for their children.  These dreams often incorporate hopes that their kids will get a good education, embrace fulfilling careers, keep their good health, and find happy, stable marriages. Sometimes reality can play out more like a nightmare in this last instance, however, as more and more marriages end in divorce. Even when our children have grown into the independent adults we have … [Read more...] about Make Sure Your Dreams Don’t Turn Into Nightmares

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys Divorce is a fact of modern American life.  Approximately half of all first marriages fail, and the divorce rate for subsequent marriages can be as high as 73 percent. While divorce is commonplace, it’s not uncommon to overlook some important legal ramifications of splitting from your spouse. For instance, suppose you have been divorced for several years, are happily remarried, and have children with your new … [Read more...] about Is Your Ex-Spouse Really Out of Your Life?

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys What comes to mind when you think of estate planning? Perhaps the ideal image is a family relying on an experienced, trusted attorney to guide them through the ups and downs of life, helping them work out the legal issues surrounding illnesses, deaths, and other major life events. What most of us don’t think about when we consider estate planning is an unqualified, or even unlicensed, individual producing … [Read more...] about Choose Your Estate Planning Practitioner Wisely

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys You and your spouse have worked hard to save for your golden years. But have you planned for a long, secure retirement if one of you outlives the other? Study after study shows that women tend to fall behind men when it comes to planning for retirement, and there are myriad reasons for this situation. During their pre-retirement years, women traditionally have not earned as much as men, and mothers have often … [Read more...] about Look After Your Spouse Even After You’re Gone

When you compare a do-it-yourself Living Trust with one that was prepared by a qualified estate planning attorney, one of the first things you’re likely to notice is that the attorney-prepared trust is long. And it might not be so easy to read. There’s a good reason for this. Lawyers don’t write legal documents just to annoy non-lawyers: we write them in order to address as many potential legal issues as possible. When it comes to estate planning, there’s any number of contingencies to prepare … [Read more...] about Short and Sweet is Not Always Better

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys Maybe it’s the word “estate” that throws so many of us off, but there is something about the idea of estate planning that calls to mind the Warren Buffets and Bill Gates of the world. This tends to lead those of us who are not among the mega-wealthy to believe we’re off the hook. The truth is, estate planning is about achieving some pretty common goals and taking care of basic responsibilities, regardless of … [Read more...] about Don’t be Fooled: Estate Planning Isn’t Just for the Wealthy

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys We all have areas of our lives that we prefer to keep out of the public eye. At the same time, each of us experiences intrusions into our privacy, both large and small, during our lifetime and even after death. For instance, those telemarketing calls that always seem to come just as you're sitting down to dinner are not just a nuisance; they are also an invasion of your family's privacy. On a larger scale, the … [Read more...] about Practical Strategies for Protecting Your Privacy

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys What is "wealth?" Upon hearing this question, your thoughts might run first to material possessions: money, real estate, and other assets. However, when you really think about it, your true wealth is much more than just your accumulated assets. It encompasses the financial and the non-financial, and many people would argue that the most important elements of true wealth are all those things that don't show up … [Read more...] about Leaving a Lasting Legacy

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys One of the primary reasons for planning your estate is to make sure that your assets go where you want them to after you’ve passed away. If you’re a parent, it’s likely that you’ll want to use your estate plan to make sure your children are provided for. Many people choose to use their Will or their Living Trust to leave a lasting legacy to a favorite nonprofit or charitable cause. If you’re not careful, … [Read more...] about Estate Planning Without a Crystal Ball