You need to think carefully about how you will give beneficiaries a way to access your digital wallets. Giving someone you trust or a group of people a way to access your digital wallet when you pass away is essential for making sure they get these assets. Your NFTs or cryptocurrency that you’ve spent time,… Read More »
Blog Posts Page 3
What You Need to Know About Naming a Beneficiary in A 401(K) Plan
You may not live long enough or have enough financial needs to use all the funds in your 401(k) account before you pass away. Your retirement savings will, in that case, pass on to the person you’ve named as the beneficiary of the account. It is important to recognize that this is different from what… Read More »
Important Questions to Consider in Pet Estate Planning
There are many different avenues available to you if you own pets and want to make sure that you have an opportunity to protect them if something happens to you. Many people want to provide immediate care opportunities for their pets, such as appointing a trusted family member, friend, or neighbor with the ability to… Read More »
What Variables Influence How Much My Estate Plan Costs?
A leading reason for many people to put off the process of estate planning is confusion or lack of clarity around what it might cost. There are a number of different factors that will influence what your estate plan costs. The chief among these being your individual goals for your estate planning process. You may… Read More »
What Can a Living Will Do for Me?
Your living will is a written record of the kind of medical care you would want to receive in specific circumstances. This becomes extremely important if you are unable to speak up for yourself about the care that you wish to receive. This can affect you with a permanent or temporary illness or injury. A… Read More »
What To Know About Using a Trust to Pass on Intergenerational Values
An appropriately created directed trust can help to provide for the promotion of social and fiscal responsibility because of the role that members on the directed trust distribution committee can play. As part of an overall wealth management strategy, you might wish to consult with an experienced estate planning lawyer about how to use a… Read More »
Why Is Elder Law Planning Distinct from Estate Planning?
When seeking out a professional to help you to create your estate plan, you also likely have questions about areas of the law that fall under the umbrella of elder law. Estate planning and elder law might be practiced by the same attorney or the lawyer you contact might have most of their clients in… Read More »
How To Help Aging Parents Confront Estate Planning
Perhaps you’re doing your own planning for the very first time and want to know if your parents have made any progress in that regard. Maybe you’d like to know if you’ve been named as a key part of their estate plan so that you have time to plan accordingly. No matter what your reasons,… Read More »
New Study Indicates Retirement Savings Shortfalls
A new study looking at people in retirement determines that retirees aren’t necessarily selecting to spend less in their golden years but are instead influenced by health and wealth issues. The Centre for Retirement Research at Boston College found that household consumption drops 0.7% to 0.8% each year on average during retirement when looking at… Read More »
Can Your Former Spouse Still Inherit Money?
There are some situations in which your former spouse might inherit assets from your estate if you’re not careful with your estate planning strategy. The major concern in this area is to consider updating your beneficiaries on your retirement plan. This often-forgotten document is very important after you get divorced because failing to update it… Read More »
Understanding No Contest Clauses
Are you worried about your loved ones fighting over your assets and your estate? Depending on your family dynamics, this might be a serious concern. A no contest clause is a provision in your trust, will, or estate plan that can specifically impose a penalty if someone attempts to challenge the validity of your document…. Read More »
Asset Liquidity Influencers Executor Choices
Different types of assets can and should get different treatment within your estate. You might assume that leaving equally valued assets to your loved ones is in their best interests, but some assets are more liquid than others. You might leave behind a family vacation home to a child who cherishes it but if it… Read More »
Three Simple Steps to Basic Estate Planning
Most people undertake the goal of creating an estate plan to make things easier for their loved ones. Elderly parents don’t want their children to be burdened with the frustration of long term care support or the expense necessary to provide the same in a facility. There are three basic estate planning steps that should… Read More »
Which Digital Assets Could Be Missing From Your Plan?
Has your estate gotten more complicated as you’ve undertaken new online accounts, investments in cryptocurrency or other digital assets? If so, you need to incorporate these digital assets into your existing estate plan, preferably with the help of a knowledgeable attorney who can ensure that you have crafted appropriate strategies to pass these on. It… Read More »
How To Protect Your Social Media in Your Estate Plan
It might seem silly to make plans for your social media accounts and other online access points considering bigger issues in your estate plan like providing your loved ones or handling real estate. But it is a good idea to think about your final wishes and to document it in advance. First, consider what you… Read More »
Estate Planning Is Tax Planning, Too
When a transfer of wealth occurs when one person passes away, this means that assets are passed from one person to another, generating possible tax consequences. Taxes are inevitable, and any good estate plan created by an experienced attorney should look for ways to minimize this liability. There are a few different kinds of assessments… Read More »
Six Important Transitions for Business Owners
Business succession planning is an important process to engage in when creating your own company. This is because in the future, you will need to have plans in place to pass the business along. The support of an experienced business succession planning attorney in your area can support you with this process and empower you… Read More »
Should You Create an Important Legal Paperwork List?
It can be very difficult for executors and grieving family members to try to find all of the most important documents they need to access your estate and to file proper paperwork in the days and weeks after you pass away. The last thing you want is for your chosen heirs or administrator unable to… Read More »
Don’t Forget to Protect Your Family Business as The Family Grows
It’s engagement season, which means that many people are preparing to welcome new loved ones into their family on a more permanent basis. If you run a family business, this has important implications for your business succession planning strategy. Make sure that you’ve considered all possible issues that can arise as your family grows. Writing… Read More »
What Problems with An Agent Should Prompt You to Update Your POA?
Your best efforts to select a responsible and trusted power of attorney agent might not always work out. In those cases, you need to know when it’s time to adjust your plans. Your power of attorney document gives authority to another person known as your agent to make decisions and to take actions on your… Read More »
