How To Talk To Your Parents and Get Them To Stay Home
World War II, the war in Vietnam, nuclear threat, illness, poverty, civil unrest, or all of the above. However, the use of the word “unprecedented” regarding what’s happening now is not an exaggeration. And they may not understand it all or what they should do, not...
CORONAVIRUS: Impact to Your Wealth, Health and Happiness
While it’s still hard to tell how the Coronavirus will impact us in the long term, it’s become a subject that’s impossible to ignore. While some are advocating we prepare to be quarantined, potentially for months, others are saying the virus is nothing more than a...
What Happens to Your Pets When You Die?
If you have pets, my guess is that you love them as much as you do your children, but I’m also guessing that you have not provided any written or, better yet, legally documented instructions about what should happen to them, if you become incapacitated or when you...
Money Talk: How Much Will You Share With Your Kids (and When)?
In many families, money still is not a typical dinner table discussion, but we think it should be. Surprisingly, this is especially true when it comes to affluent parents. And, we hope to change it because one of the most important things you can do is talk to your...
False Security: Is Your Will Legally Valid?
A last will and testament can ensure your wishes are respected when you die. But if your will isn’t legally valid, those wishes might not actually be carried out, and instead the laws of “intestate succession” would apply, meaning that the state decides who gets your...
Kobe Bryant’s Untimely Death Highlights the Vital Need for Estate Planning at All Ages
As you no doubt already know, on January 26, 2020, basketball legend Kobe Bryant was killed in a helicopter crash on a wooded hillside 30 miles north of Los Angeles. Also killed in the tragic accident was his 13-year-old daughter Gianna, and seven other passengers,...
4 Things Trusts Can Do That Wills Can’t
Both wills and trusts are estate planning documents that can be used to pass your wealth and property to your loved ones upon your death. However, trusts come with some distinct advantages over wills that you should consider when creating your plan. That said, when...
The Tax Cut & Jobs Act Alters Tax Consequences of Divorce
The Tax Cuts & Jobs Act (TCJA) made sweeping changes to exemptions, deductions, and credits for your family’s federal income taxes. But one major change that you might not have noticed is the way the law altered the potential tax consequences of divorce. Whether...
Don’t Let Your Kids Move Out Without Signing These Documents
Once they reach age 18, your kids become legal adults, and many areas of their lives that were once under your control will be solely their responsibility. And one of the very first items on their to-do list as new adults should be estate planning. While you may...
Discussing Estate Planning With Your Family This Holiday Season
As we head into the peak of the holiday season, you’re likely spending more time than usual surrounded by your family and friends. It’s one of the rare times of the year when loved ones from across the country gather together to enjoy each other’s company and...
4 Year-End Tax-Saving Strategies for 2019
As we head towards the end of the year, we’re fast approaching the deadline to implement your family’s tax strategies for 2019. The Tax Cut and Jobs Act (TCJA) completely overhauled the tax code, and if you’ve yet to take full advantage of the benefits offered by the...
How Does Divorce Affect Your Trust?
Trusts vary in their structure, funding, and terms, so it’s hard to know how divorce will impact your trust without review. It’s safe to say, without question, your trust (and really your entire estate plan) should be reviewed during your divorce to prevent unforeseen...
Estate Planning Essentials for Parents
A comprehensive estate plan can protect the things that matter most. For many, this means their property and their family. Including provisions for the care of your children in your estate plan is essential for peace of mind. But many parents struggle with including...
What Happens If I Die Without An Estate Plan?
If you die without an estate plan, your assets pass to your surviving family members according to your state’s intestate succession laws. Laws vary by state and depend largely on whether you were married and if you had children. Spouses and children are given top...
Same-Gender Couples & Parental Rights – Estate Planning Can Help
While same-gender couples are gaining matrimonial rights, parental rights are still a legal quagmire. While parental rights are automatically bestowed upon the biological parent of a child in a same-gender couple, the non-biological spouse/parent still faces a host of...
5 Estate Planning Must-Dos if You’re Getting Divorced
Divorce can be traumatic for the whole family. Even if the process is amicable, it involves many tough decisions, legal hassles, and painful emotions that can drag out over several months, or even years. That said, while you probably don’t want to add any more items...
Safeguard Your Children’s Inheritance With a Lifetime Asset Protection Trust
Lifetime Asset Protection Trusts (LAPTs) are primarily designed to protect your loved ones and their inheritance from things like divorce, serious debt, devastating illness, and unfortunate accidents. At the same time, LAPTs can provide your heirs with a unique...
How and When to Talk to Your Children About Money
Whether you consider yourself wealthy or not, you need to think about how and when you’ll talk with your children about money. The Wall Street Journal article “The Best Way for Wealthy Parents to Talk to Children About Family Money” offers guidelines for how and...
How Legal Planning Helps Build a Strong Blended Family
Yours, mine and ours … in today’s modern family, it’s oh so common. The blended family is the product of 2nd (or more) marriages, in which one or more of the parties comes with children from a prior marriage. And then, they may even go on to have children together. If...
4 Ways Wise Planning Protects Family Assets
While most people assume only the uber wealthy need to worry about asset protection, those with less wealth and fewer assets may be at even greater risk. For example, if you’re a multi-millionaire, a $50,000 judgment against you might not be that big of a burden. But...