When your children are young, it’s safe to assume you won’t tell them much about estate planning. However, as they age, you may want to consider sharing the details of your estate plan and the impact it could have on them in the future. Here’s the one thing to remember: you can share as much or as little about your estate plan as you wish. There’s no right or wrong approach. Here are some of the details you may want to consider sharing with your adult children: The plan for your assets: For … [Read more...] about What to Tell Your Adult Children About Estate Planning
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Preparing for the Unexpected…and the Eventual
The world is an unusual place. Things you’d never expect to happen sometimes actually do happen. There are natural disasters and unusual phenomenon. It’s important to prepare, not just for the unexpected but the eventual, as well. Read on to learn more. … [Read more...] about Preparing for the Unexpected…and the Eventual
Selecting an Estate Planning Attorney – Wisely
Compliments of the McGee Law Firm, Attorney Brandon McGee When you plan your estate, you are putting together your road map to your legacy. Your estate plan determines who will be entitled to your assets, how they can use them, and the protections which they and the assets you leave them may have from creditors, divorcing spouses, etc. The attorney whom you select to assist you in creating that plan is integral to its success. That is why you need to choose wisely. When Bill and Mary … [Read more...] about Selecting an Estate Planning Attorney – Wisely
Reasons to Consider a Prenuptial Agreement
What comes to mind when you think about creating a prenuptial agreement? For many people, this is all about protection in the event of divorce. And while that’s a big deal, don’t overlook the way in which a prenuptial agreement can help in regards to estate planning. Let’s start with some of the basic reasons to create a prenuptial agreement: To protect assets that you bring into your marriage To protect against taking on some of your ex’s debt in the event of divorce To reduce the risk … [Read more...] about Reasons to Consider a Prenuptial Agreement
Updating Your Plan: Beneficiary Designations
As we approach Spring, it’s a good time to think about updating your plan. This includes your entire plan, including beneficiary designations. Beneficiary designations may control a large part of your assets and it’s important to be sure your plan is coordinated to consider these. Read on to learn more. … [Read more...] about Updating Your Plan: Beneficiary Designations
Keeping Your Vacation Home in the Family
Compliments of the McGee Law Firm, Attorney Brandon McGee Vacation homes hold a special place in our hearts. Everyone with a vacation home in the family has memories of special times shared with family and friends. Summer weekends and holidays at the lake or mountain home give a rare chance for families and friends to bond without the distractions of the outside world. But, without careful planning, the vacation home can tear families apart after the passing of the parents. That’s … [Read more...] about Keeping Your Vacation Home in the Family
How to Spend Less Time on Estate Planning
People shy away from estate planning for many reasons. At the top of the list is the time that it takes to create a comprehensive estate plan that will give you and your loved one's peace of mind. But what if you could create an estate plan in a timely manner? What if you could get everything you want without allowing it to bog you down? If you’re looking for a way to save time when creating an estate plan, here are some of the best things you can do: Consult with an estate planning … [Read more...] about How to Spend Less Time on Estate Planning
Updating Your Plan: Your Trust or Will
As we approach the end of the year, it’s a good time to think about updating your plan. This includes your entire plan, including your primary vehicle, such as a trust or will. Read on to learn more. … [Read more...] about Updating Your Plan: Your Trust or Will
Funding is Critical to Estate Planning
Compliments of the McGee Law Firm, Attorney Brandon McGee Everyone knows that planning is part of estate planning. When Ted and Emily met with their attorney, they discussed their family’s needs and the legacy they wanted to leave. Ted and Emily and the attorney created an estate plan designed to achieve their goals via a Revocable Living Trust as the way to get there. After the documents were prepared, they set up the appointment to sign or “execute” the Trust and other documents, … [Read more...] about Funding is Critical to Estate Planning
Special Needs Planning and Direct Gifting: A Bad Idea
Do you have a special needs child? Have you come to realize the importance of advanced planning? Are you concerned that you’re making mistakes that could affect them in the future? There’s a lot that goes into special needs planning, such as creating a special needs trust. But not everyone goes down this path. Instead, some people make the mistake of relying solely on direct gifting. While this sounds like the easiest way to pass assets along to your child, it’s a big risk. Once your child … [Read more...] about Special Needs Planning and Direct Gifting: A Bad Idea
