May 2019

Do you care if your beneficiaries screw up their lives after you are gone? What if your legacy enables them to screw up their lives? Earlier I explained that in the absence of other arrangements in a properly constructed trust, a child will fully inherit their portion of your estate at age eighteen in most states. I mentioned how that might not be such a great idea (see Mistake #10). Let me...

When you talk to estate planning attorneys, they will tell you plenty of stories in which a frazzled man or woman has come into their office and said, “I’m done. I can’t handle it anymore. I’ve been taking care of my spouse for four years, and I’m physically worn out. I’m emotionally drained. What can I do?” Like my grandma, these folks have been the primary caregivers for people who cannot...

Approximately 1 in 10 Americans, aged 60 or older, have experienced some form of elder abuse. As seen in the news, even Stan Lee, the well known and affluent face of the popular Marvel comics, is the possible victim of abuse at the hands of his former business manager. Elder abuse can come in many forms. Physical, emotional, financial, neglect, and more. Families who hire private caregivers...

No one has divorce in mind when they step up to the altar and say the words, “I do.” However, 40-50% of marriages still end in divorce. Your estate plan changes drastically after you divorce from potential custody implications to splitting up assets and the impact of complicated tax laws. This change in status necessitates an update in your documents. A major relationship change, such as a...

Conversations revolving around illness or death are not easily broached by anyone. We tend to avoid these topics because we live in the present. No one ever plans on tragedy striking, and facing our own mortality can leave us feeling an array of uncomfortable emotions. Over 80 percent of Americans will face a period of sustained disability before their deaths. That is a staggering statistic....

Summer is almost here, and maybe you are planning family vacations, road trips, amusement park adventures, or even skydiving! While none of us ever want to contemplate tragedy or hardship, before you create your summer vacation plans, be sure to put in place an estate plan that will protect you and your family in the event the unthinkable happens. Taking a few small steps now can ensure your...