The nuclear family has traditionally been defined as two parents, two-and-a-half children and a house with a white picket fence. It’s been the basis for the American image of “family” since the 1950s. But as they say, the times are a changin’. The American family now comes in every shape, size and color. One demographic… Read More »
Posts Categorized: Estate Planning
Does Your 18-Year-Old Need a Will?
High school graduation season is nearly over. It’s a celebratory time when you are perhaps more mindful about ways to secure the future of your young adult children. This is an excellent time to remind our clients with graduates heading off to college this fall that while most 18-year-olds probably don’t have a will, there… Read More »
Helping You Avoid the Joint Tenancy Trap
When most of you bought your first home, you probably signed a deed as a joint tenant next to your spouse’s signature. That’s the way your parents and grandparents did it, and the real estate agent told you it would protect the surviving spouse from probate court after one of you dies. It’s not unusual… Read More »
The Dangers of Do-It-Yourself (DIY) Estate Planning
Consumers are becoming more confident that they can handle many common legal tasks on their own. Do-It-Yourself (DIY) companies have sprung up in many markets ranging from income tax preparation to estate planning, and these companies purport that their services are just as good as going to an attorney. Those who seek to replace proper… Read More »
Would ‘Carol Brady’ Have Updated Her Estate Plan?
The recent passing of television star Florence Henderson, known for her portrayal of the mother “Carol Brady” on “The Brady Bunch ,” offers us a chance to talk to our clients in blended families about the importance of updating estate planning documents whenever someone is recently divorced or remarried. The reason for Carol Brady’s first… Read More »
An Updated Estate Plan: Your Best Weapon Against Wealth Transfer Curveballs
While most of us are familiar with the saying “Nothing’s certain but death and taxes,” it’s important to remember that life and tax codes change all the time—and that some of these changes can put your estate plan intent at risk. Take the Treten family, for example. In 2008, Leonard and Eileen Treten, founders of… Read More »
Blended Families and Your Estate Plan: How to Get It Right and Keep the Peace
The idea of “family” has changed dramatically over the last few generations. As a society, we’ve shifted away from thinking of family as a father, mother and children to one that—through divorce and remarriage(s)—can potentially comprise multiple sets of parents and offspring. Throw in the recent legalization of gay marriage and you’re looking at a… Read More »
Cover Me: Why a Durable Power of Attorney for Asset Management is a Smart Part of Your Estate Plan
In 2007, pop singer Britney Spears had a highly publicized meltdown. Caught on camera shaving her head, attacking a paparazzo with an umbrella and otherwise calling her sanity into question, Spears’s father took steps to contain his 26-year-old daughter’s erratic behavior and protect her multi-million dollar estate. While today, Jamie Spears’s actions appear to have… Read More »
5 Common Estate Planning Mistakes That Are Costly—And Easy to Avoid
Most people don’t like thinking about death or who will get what after they die. But refusing to take time to plan your estate can have costly tax implications. Proper planning will not only ensure your wishes are carried out, but prevent your family from losing a huge chunk of your assets unnecessarily—in some cases,… Read More »
8 Tips to Ensure Your Will Goes Your Way
It’s a sad fact of life that money often brings out the worst in people—and that the biggest offenders tend to be family members. While no one likes to think about dying and loved ones carrying on without us, a little planning and communication can go a long way towards ensuring your final wishes are… Read More »