Monthly Archives: December 2016

Make Estate Planning Your New Year’s Resolution

New Year’s Resolutions – just about everybody sets them but not everyone reaches their goal.   The key to setting any resolution or goal is to make it specific and attainable.  This year, we want to remind you of the importance of keeping your estate plan up to date. Estate planning goals can change over time and for many reasons: 1. Marriage or divorce; 2. Birth or adoption of a child; 3. Death or disability of a child; 4. Birth or death of a grandchild; 5. Marriage of a child; 6. Divorce of a child; 7. Death of a spouse; 8....Read More

My Children Are Irresponsible And Cannot Handle Money … What Can I Do To Insure They Will Not Waste Their Inheritance?

You worked hard all your life, lived frugally, saved money and invested wisely.  As you start the estate planning process, you may have concerns related to your children’s ability to manage money.  You may worry that providing your children with a cash distribution will encourage them to stop working hard; the very thing you did to gain your wealth.  You may worry your child, who has a drug or alcohol addiction, will use his inheritance to fuel his addiction.  Obviously, these are legitimate concerns and should be considered in estate planning. If you are concerned how your child might handle...Read More

What You Think You Know About Wills And Probate

Most of us have a basic understanding of Wills and Probate but sometimes that knowledge is as basic as Wills are good, Probate is bad. While there is some validity to that thought process, here are a few misconceptions: If I die without a will, the probate process will take years. The probate process, while time consuming, does not have to take years. The biggest delay is the time given to creditors to file claims. Once that time has passed, and the Personal Representative has paid legally enforceable bills and taxes, a final distribution can be made and the estate...Read More

I Am The Trustee Of A Trust Or Personal Representative Of An Estate – What Are My Responsibilities And Obligations?

When someone becomes incapacitated or passes away, you may find yourself in charge of administering a trust, or the decedent’s estate.  You may have been nominated as successor trustee through a Trust, the personal representative (executor) through a Will, or the court may have appointed you to administer the estate.  Here are a few important things to remember: Personal Representative:  As the personal representative of an estate, you will be responsible to collect the property owned by the decedent, notify creditors and heirs or devisees, pay debts and taxes, finalize the decedent’s business affairs, file all documents required by the...Read More

My Spouse Always Managed Our Finances. What Do I Do?

It is not uncommon for us to meet with a client whose spouse was responsible for paying debts, making investments, arranging for insurance and paying the taxes, but has become incapacitated or passed away.  The well spouse is left to deal with the emotions of losing their partner, whether that is due to incapacitation or death, and has the challenge of learning how to manage the household finances. This often becomes overwhelming to the well spouse. If you are faced with this problem, you may need help to get through the financial questions.  You may want to gather a support...Read More
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