Category: Estate Planning
“Movie scenes where a deceased tycoon’s will is read to a roomful of shocked and bitter relatives make for great drama, but drama is the last thing anyone wants, when seeking to preserve an estate for future generations.” Using an irrevocable trust ensures a far smoother transition of assets than a will, and also offers […]
“A woman was clear about her wishes before she had a stroke — in the case of a serious medical event, she did not want a feeding tube. She had even expressed her wishes in an advance directive, years before her stroke.” There are two sad parts to this story. The first was that the […]
“In the next few months, thousands of northerners — so-called “snowbirds” — will escape their snowy, cold climates to spend the winter in warm, sunny spots in the southern or western part of the United States.” The interstates get busy in September, when retirees take to the highways to leave the north behind and head […]
“When you create a living trust, you also sign a pour-over will. One of the main benefits of a trust is avoiding a court proceeding on death called probate, which is when wills are used.” If the goal of estate planning is to avoid probate, it seems counterintuitive that one would sign a will, but […]
“We all have witnessed how children have a difficult time understanding why one sibling was treated differently. To overcome this, parents will make the well-intentioned mistake that fair and equal are the same.” What may work fine when you are raising children does not always work in estate planning, as reported in The Press Enterprise’s […]
“Three handwritten documents, dated between 2010 and 2014, were found in Aretha Franklin’s Michigan home in recent months, including one in a spiral notebook found under her couch cushions.” The Queen of Soul’s lack of a properly executed estate plan, isn’t the first time a celebrity died without a will, and it surely will not […]
“I admit that this question stumped me. It was not so much because of what you are asking, but rather why you are asking it in the first place. I’ve tried to come up with a scenario why someone would want to change their will temporarily, but I have come up blank.” People usually make […]
“Thanks to the Internet, everyone has the ability to draft wills, trusts and a variety of other legal documents. Many documents can be produced for less than $100, requiring only a few mouse clicks and filled-in blanks.” While the simplicity and low cost of online legal documents is appealing, the results are all too often […]
“As we approach our 70s, we feel like we have everything covered. We don’t have long-term care insurance, but with the income we have off the farm and with our savings, we feel pretty comfortable. Is0’ everything we have enough?” A family has set up their estate plan. Two sons are already in the farming […]
“You probably anticipate living on a fixed income in retirement. However, you may not expect how much your spending will fluctuate. Many individuals tend to shell out more money at the outset of retirement, due to lifestyle adjustments or travel.” Starting retirement with a bang can make a big dent in your nest egg no […]
