Why Joint Tenancy Should Not Be the Go-To Plan for Newlyweds

If you are recently married or have been married and are acquiring additional assets, know that you have options when it comes to how the property will be titled. And, although joint tenancy seems like an easy and convenient choice, it may not work as well as you would think. What is Joint Tenancy? After getting

2018-10-18T11:04:31+00:00 October 18th, 2018|Tags: , , , , |

Do Your Parents have an Estate Plan?

If you find yourself in the "sandwich generation" (someone who is caring for both your children as well as your parents simultaneously), you need to know whether or not your parents have put together an estate plan. While it is still your parent’s choice to make estate planning decisions, having a plan -- no matter how

2018-10-11T10:40:29+00:00 October 11th, 2018|Tags: , , , , |

Your Fall “Legal Affairs” Checklist

Fall is an excellent time to review your affairs. Below is a checklist to ensure your planning meets your needs and is up-to-date: When was your power of attorney last updated? A power of attorney is a valuable legal document, no matter what the circumstance. Not only is it flexible and can be prepared to meet

2018-10-05T12:59:25+00:00 October 5th, 2018|Tags: , , , , |

Who Should Be Your Successor Trustee?

If you have a revocable living trust, you probably named yourself as trustee so you can continue to manage your own financial affairs, but eventually, someone will need to step in for you when you are no longer able to act due to incapacity or after your death. Your successor trustee plays an important role in

2018-09-27T03:26:17+00:00 September 27th, 2018|Tags: , , |

Get Your Treasure into the Treasure Chest

When explaining the difference between a will and a living trust to our clients, we sometimes use the metaphor of a collecting treasure (your house, accounts, etc.) into a treasure chest (the trust that holds your treasure). Although we talk our clients through this concept, admittedly it can feel like they have a lot of information

2018-09-27T03:07:28+00:00 September 24th, 2018|Tags: , , |

Do It Now: Name a Guardian for Your Minor Child(ren)

We know it’s hard. Thinking about someone else raising your children can stop you in your tracks. It feels crushing and too horrific to consider. But you must. If you don’t, a stranger will determine who raises your children if something happens to you - your children’s guardian could be a relative you despise or even

2018-09-20T09:01:23+00:00 September 20th, 2018|Tags: , |

5 Tips for Successfully Receiving an Inheritance

If you recently received an inheritance, or are expecting to receive one in the near future, it has likely triggered mixed emotions in you. You have lost a loved one and also experienced monetary gain. Studies show that a third of Americans who received an inheritance completely spent it within two years of receipt. Below are

2018-09-18T12:20:57+00:00 September 18th, 2018|Tags: |

How to Choose a Trustee

When you establish a trust, you name someone to be the trustee. A trustee does what you do right now with your financial affairs - collect income, pay bills and taxes, save and invest for the future, buy and sell assets, provide for your loved ones, keep accurate records, and generally keep things organized and in

2018-09-12T12:02:31+00:00 September 13th, 2018|Tags: , , |

How to Pick a Trustee, Executor, and Agent Under a Power of Attorney

While the term fiduciary is a legal term with a rich history, it very generally means someone who is legally obligated to act in another person’s best interests. Trustees, executors, and agents are all examples of fiduciaries. When you pick trustees, executors, and agents in your estate plan, you’re picking one or more people to make

2018-09-12T12:02:20+00:00 September 6th, 2018|Tags: , |