Key Questions to Ask When Picking Your Successor Trustee
When you create a revocable living trust, you’ll need a trustee to be in charge of managing the property and accounts in the trust. Initially, this will typically be you. However, you’ll need to name…
October Newsletter: Lessons from the Movies on Creating a Lasting Legacy
October’s newsletter delves into estate planning lessons from Hollywood, with insights on creating a lasting legacy drawn from Rain Man and The Descendants. These iconic films offer valuable takeaways for families facing estate planning challenges,…
Handling Sentimental Belongings in Estate Planning
We’ve covered many topics on how estate planning secures wealth distribution according to your preferences. However, what about items with less financial value but significant sentimental value? Often, there is no clear path for who…
A Well-Rounded Estate Plan Considers Every Possibility
By Christina B. Yee, Esq. As the population ages, planning in the event of incapacity has become increasingly important. According to the 2024 Alzheimer’s Association report, an estimated 6.9 million Americans aged 65 and older are…
Understanding Hidden Assets, Trusts, and LLCs in Divorce Battles
The Wall Street Journal (Candace Taylor) 09.24.24, published the article “Secret Trusts, a Bitter Divorce and the Battle Over One of America’s Biggest Homes.” The article is regarding the Pritzker estate, a 50,000-square-foot property in…
The Risks of Relying on Intestacy
Many people are under the impression that if they die without a will (dying intestate), everything they own will automatically pass to their spouse and children. State rules differ on this, but generally, your spouse…
September Newsletter: Estate Planning for Young Adults
September’s newsletter covers estate planning for young adults, from basic first documents to smart financial strategies. It’s a great read to gain actionable first steps your young adult child can take toward financial literacy and…
Potential Pitfalls of Joint Property Ownership
Joint real estate ownership allows the property to bypass probate and pass directly to the other owner(s) upon death. However, it’s important to note that joint property ownership can lead to unintended consequences despite its…
3 Effective Ways to Manage Estate Planning Expenses
Hiring an estate planning attorney may involve a notable financial investment, but the benefits and protections they offer make this investment well worth your while. It’s a proactive step to ensure your wishes are legally…
Terms and Conditions for Your Child’s Inheritance
You’re probably aware of the most straightforward way to leave a child an inheritance—a single lump sum. However, did you know that estate planning lets you limit how your child receives their inheritance? While there…
The Complexities of Spousal Disinheritance in Estate Planning
Did you know that special protections are built into the law to help protect against spousal disinheritance? While state laws differ in the details, a spouse has a claim to a share of their deceased…
August Newsletter: Celebrate National Make-a-Will Month!
Our August newsletter celebrates National Make-a-Will Month, explaining why some people don’t have wills and why they should. We debunk common estate planning misconceptions and discuss the importance of planning today for a lasting legacy…
Streamline Your Digital Legacy
The Wall Street Journal (Alexandra Samuel) 8/6/24 published an article titled “Why Everyone Needs a ‘Digital Death-Cleaning’ Plan,” in which the author discusses why it’s essential to have a digital death-cleaning plan so that heirs…
IRS Direct File Program: Permanent Status and State Decisions
The Wall Street Journal (Julie Zauzmer Weil) 8/5/24 published an article titled “The IRS has opened its free tax filing for all states. Which ones will join?”. The article discusses how, in 2024, the IRS…