When establishing a trust, choosing your successor trustee is one of the most crucial choices you will need to make. You can act as the trustee if your trust is a revocable living trust. However, you must name a successor trustee. The successor trustee will manage the trust on your behalf in the event of…
As a parent, you want to protect your child’s future, but have you ever pondered what might happen if you could not be a part of it? This contemplation can be a sad one for anyone. Nevertheless, by proactively putting a plan in place, you can find solace in knowing that if the unexpected occurs,…
When you pass away, estate planning facilitates the transfer of wealth to your loved ones. Therefore, estate planning involves preparing various legal documents to ensure your wishes are carried out effectively. However, there is some personal information that we recommend an estate plan should not include: Social Security Numbers You do not need to provide…
By Nate Loftin, Esq. Aretha Franklin, the legendary Queen of Soul, left behind a legacy that will forever be remembered. But what many people didn’t expect was the discovery of her last will and testament hidden in a most unexpected place – her couch! Yes, you read that right. It seems even icons like Aretha…
It’s common knowledge to include bank accounts, retirement accounts, and other standard financial accounts in estate plans. However, did you know it’s essential to have a digital estate plan that accounts for your digital accounts, such as PayPal, Venmo, and Apple Pay? Without a digital estate plan for these accounts, your loved ones may need…
Inadequate or outdated estate plans can have detrimental effects on both you and your loved ones. Our July newsletter aims to emphasize the significance of establishing a comprehensive estate plan that safeguards your legacy and facilitates a seamless transition for future generations. Parent-Child Relationship in Estate Planning The parent-child relationship can take many forms, including…
The legendary Queen of Soul, Aretha Franklin, passed away on Aug. 16, 2018, of pancreatic neuroendocrine cancer. Contrary to her lawyer’s advice to establish a will and trust before her death, Aretha Franklin did not leave behind an estate plan for her estimated $80 million estate. Since she was very private, she decided against formal…
Some businesses could not pull through the increased expenses inflation has brought on over the past few years unscathed. Due to this, companies have put employees out of work or laid off employees to reduce costs. If you are dealing with the stress of recent unemployment, remember you are not alone. You can use this…