Estate Planning

Tax law can change rapidly depending on the economic and political climate. Whether you are a business owner, have high-value property, or are creating an estate plan, it is important to stay up to date on how evolving tax laws will affect you. Navigating tax law can be complicated – especially when there are major changes taking place. Having a good understanding of the upcoming changes to the tax code can help you employ the right strategies to minimize your tax burden while staying compliant.  What Upcoming Tax Law Changes […]

Losing a loved one is difficult no matter what. When you are grieving, perhaps the last thing you want to deal with is the whole legal process of handling your family member’s estate. If there is a valid will, you would file it with the probate court to start the probate process. However, not everyone has a will in place. Maybe your relative never made a will in the first place, or he tried to make a will but you find out after his death that the will is invalid. […]

There are many reasons a loved one might need a guardianship. Guardianships allow you to manage the affairs of someone who is not able to do so for themselves. Most guardianships are created for people who are elderly and have age-related impairments or for special needs adults. Some aging adults may fear being the subject of a guardianship, or “ward,” because they are afraid of losing control. However, wards may find that having a guardian to handle all their finances or day-to-day needs is convenient and protects their safety. If […]

Few things in life are as difficult as experiencing the death of a loved one. The period of grief surrounding a family member’s passing is emotionally difficult, and it has the potential to be legally and financially difficult as well. There are a few common legal problems that arise in the aftermath of a death in the family – most of which can be avoided with proper estate planning. Some of these legal problems, like family disputes, are impossible to completely prevent. But other problems, like discovering that the wrong […]

One of the most important goals in estate planning is to make sure that your wishes will be known and carried out after you pass away. It is an invaluable resource for making sure that you have legally documented who should receive what, so there are fewer arguments and legal issues. Having a well-written, detailed, and up-to-date estate plan can prevent future conflict as well as give you the maximum amount of control over where you want your money and possessions to go.  Too often, people think verbal agreements or […]

Many older people have wills and plans that were created when they were younger, or before they had additional family members, such as grandchildren. Their circumstances and families have most likely changed since the documents were drawn up, as well as there being changes in the laws. Talking to your parents about their estate plan can be uncomfortable. However, planning for how their estate should be handled in the event of their death or incapacitation is an important conversation to have. Having an organized and current will or estate plan […]

The prospect of losing a spouse is a frightening and saddening one. No one likes to think about what would happen to their family were their spouse to die, but it is wise for a family to consider the possibility during estate planning. It is essential to know how you would keep going after the death of a spouse – especially for families with young children. An estate planning attorney can work closely with your family to build a plan to protect you and your children’s financial well-being in this […]

Most married couples share at least one financial or investment account. You may be wondering: What happens to shared accounts when one spouse passes away? Is there anything we can do legally so we know what will happen to one spouse’s interest in those accounts when the other passes away? An estate planning attorney will be able to help. Making arrangements regarding joint accounts is a part of the estate planning process, and it is something every married couple should plan for.  What Happens to Jointly Owned Finances When One […]

The majority of people who plan their estates provide for how their monetary assets and real estate will be distributed. Bank accounts, stocks, houses, and businesses are the first things people think of when they begin the estate planning process. Material possessions, however, are often forgotten about. The importance of including material possessions in your estate plan is not to be underestimated – family conflicts over personal belongings during estate distribution are quite common. You have the opportunity to reduce the risk of conflict among your loved ones by including […]

In the event that you become incapacitated, it is crucial to have someone you trust designated to make financial decisions for you. This trusted person, called an “agent,” will be able to look out for your financial interests when you can no longer do so, either temporarily or permanently. By creating a financial power of attorney, you can rest assured that the person you choose as your agent will be able to manage your finances and help with things like making sure your bills are paid.  How Long Does a […]