Most people assume they know where their assets will go when they pass away—especially when they’ve created a Will or Trust. But what about your retirement accounts? You may not realize that your IRA, 401(k), pension, or life insurance may not follow your Will or Trust at all. Instead, these accounts typically pass according to the beneficiary designation … Read more
You may look at estate planning as a simple matter of using a document to express who gets what. This is certainly important, but hands-on tasks must be completed to bring your wishes to fruition. With this in mind, communication is part of the equation as well. Let’s look at the ways you can transmit … Read more
When it comes to estate planning, the type of property you own can significantly impact how your plan should be structured—especially if you’re married and live in a community property state. Learn how community property affects your estate plan. What Is Community Property? Community property is a form of marital ownership recognized in nine states:Arizona, … Read more
Nobody expects the unexpected. When actor Heath Ledger passed away suddenly on January 28, 2008, at the age of 28, the world was stunned. Heath’s accidental death from a combination of prescription medications left more than just a legacy of powerful performances—most notably his Oscar-nominated role in Brokeback Mountain—it also left behind an estate plan that … Read more
Most people don’t like surprises—especially when it comes to matters as sensitive as inheritance. One of the best ways to avoid family tension and reduce the likelihood of disputes after your passing is to promote open communication during the estate planning process. While it may not always be feasible to involve every family member in … Read more
One of the most common questions we hear from clients is: “Why is my trust so long?” It’s a fair question. At first glance, a shorter trust might seem more appealing—easier to read and less intimidating. But in estate planning, brevity often comes at a cost. Like any legal document, a trust is only as … Read more
You’ve worked hard. You’ve saved diligently. You’ve paid into Social Security and earned your Medicare benefits. So when you need long-term care, you should be covered—right? Unfortunately, not entirely. While Medicare covers some medical expenses, it typically doesn’t pay for long-term custodial care—the care that helps with daily living activities like bathing, dressing, cooking, or … Read more
Your child is turning 18. On the outside, not much has changed—they still mix lights and darks in the wash or forget their bag on the roof of the car. But legally, everything is different. At 18, your child is now considered an adult in the eyes of the law. And with that legal adulthood … Read more
Far too many people assume that a simple will is the estate planning document to use unless you’re a multimillionaire. In reality, this is probably the most widely embraced myth in our field. Granted, a will can suffice when the situation is extremely simple and straightforward. However, there are many different types of trusts, and … Read more
Many people focus on wills and trusts but overlook the importance of planning for potential incapacity. Without the right incapacity planning documents in place, courts may step in to make decisions that could conflict with your personal values and long-term wishes. Why Incapacity Planning Matters Unexpected medical conditions, accidents, or cognitive decline can leave you … Read more