Estate Planning Myths are a cause for trouble. Myths are widely held but false beliefs. People talk themselves out of creating an estate plan for many reasons. Considering the overall benefits, I ask, are those reasons valid? Perhaps, but perhaps not. Buying into...
Why a Pet Trust? Why a Pet trust? When most people think of creating an estate plan, the conversation focuses on the spouse, the children, and in some cases the grandkids. Unless encouraged to do so, rarely is the protection of ones “furry children,” considered. Yet,...
Do you own Cryptocurrency? Crypto and Estate Plan. Do you own cryptocurrency? If so, you may be wondering with all of the controversy if it is still a good investment. The answer is probably, but no one knows for sure. Some experts say the long-term cryptocurrency...
Studies estimate that 70 percent of family wealth is lost by the end of the second generation and 90 percent by the end of the third generation. To assist your loved ones in not becoming part of this statistic, you need to first educate them. Then, your job is to...
What does it mean to modify, amend, or revoke a trust? To revoke means to annul by recalling or taking back something. To modify means to make changes to something in an effort to improve it. To amend a document is to make minor changes to make...
Can I disinherit my kids? Maybe. According to Tinsel Town, a parent can always disinherit their kids. But not so in the real world. In most instances, you can. However, that also depends on the state and the facts of your particular situation. Generally,...
A common occurrence after someone dies is that the estate documents can’t be found. Maybe it’s because they were lost, mistakenly destroyed, intentionally revoked, or hidden. Regardless, when someone passes away, and their will and trust cannot be secured, there is a...
To be valid and enforceable, a trust must be funded with assets of value, and it must have a purpose. In addition, it must have a trustee. The person who legally holds the assets. When you establish your trust, you are required to nominate your trustee. While not...
A common question often asked by people who want to hire an estate planning lawyer is, “How do I prepare for the first meeting?” Is the meeting in person? Is it virtual? Is it by phone? If it’s by phone, does the lawyer call me, or should I call them? What should I...