Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys As you research your estate planning options, you’re sure to hear a lot about living trusts. In recent years, the living trust has become such a popular tool that it forms the cornerstone of many people’s estate plans. What are the benefits of a living trust and why would you opt for one as part of your estate plan? Protect and Provide for Beneficiaries The foundational goal for any estate plan … [Read more...] about Why Choose a Living Trust?

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys College costs have been steadily rising for years, and there does not appear to be an end in sight. If you are a new parent, you might want to grab some smelling salts: according to current estimates, the total cost for a four-year public university education for your little bundle of joy could top $200,000. Faced with this financial reality, parents and grandparents are looking for ways to get the … [Read more...] about More Bang for Your Buck: Education Planning with Deferred Annuities

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys Every year, about 6,000 babies with Down syndrome are born in the United States. Over their lifetimes, many of these children will contend with serious medical conditions including heart defects, gastrointestinal problems, visual or hearing impairment, dementia, and early-onset Alzheimer’s disease. As a result, the costs associated with Down syndrome can be astronomical and many of those with the condition … [Read more...] about Special Needs Trusts for Children with Down Syndrome

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys As we move further into the “electronic age,” we seem to spend more of our lives online. Many of us have an ever-expanding digital footprint using accounts that store sensitive personal and financial information. These may include email accounts, website domain names, online banking accounts and passwords, and countless personal and business documents stored in the cloud. You may also … [Read more...] about Does Your Estate Plan Include Digital Assets?

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys When Sopranos star James Gandolfini died unexpectedly at the young age of 51, his estate plan sparked a media firestorm. Experts have scrutinized and criticized his plan, and news reports have covered its details. What led to this flurry of attention? The fact that he left behind a Will, which made his estate planning choices public record. What can we learn from James Gandolfini’s Will? … [Read more...] about James Gandolfini’s Will: 3 Lessons for You and Yours

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys It is an honor to be named the successor Trustee of a loved one’s Trust. As the name implies, you’ve been given a position of trust and responsibility, and it means that your loved one thinks highly of your skill and ability, not to mention your integrity. So, what does a successor Trustee do? Normally, the person who creates a Trust serves as the initial Trustee. Your job as the successor … [Read more...] about I’m a Trustee! Now What?

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys Your bags are packed, the reservations have been made, and the kids are looking forward to spending a week at grandma’s house…you and your spouse are ready for a summer getaway. But before you leave for the airport, ask yourself if there’s one plan you might have overlooked: your estate plan. Without proper estate planning, a vacation mishap could spell disaster for you and those you leave at … [Read more...] about An Estate Plan: Don’t Leave Home Without it

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys You might not realize it, but you already have an estate plan. Even if you’ve  never created a Will, never set foot inside an estate planning attorney’s office, and never given estate planning a second thought. Here’s why: each state provides every citizen with a default estate plan. This estate plan comes in the form of intestacy law – a set of basic, one-size-fits-all rules for what happens to property … [Read more...] about Estate Planning is Essential for Same-Sex Couples

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys Ask the parent of an eighteen-year-old whether their child is an adult, and you’re likely to get a wry smile. Eighteen-year-olds like to think of themselves as adults, but parents tend to look at their young adult offspring and see… teenagers. Legally speaking, however, your child’s eighteenth birthday is a huge milestone. This is when your child reaches the age of majority in most states, and … [Read more...] about Eighteen: The Magic Number?

Compliments of Our Law Firm, 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 been protected with just a little … [Read more...] about How a Pet Trust Can Protect Your Furry Friends