Contrary to popular belief, estate plans are not just for the rich and famous. Most people have at least one thing of value — such as money in bank account, a car, a home. The reality is that many people could benefit from having an estate plan in place. Not only can it help maximize the actual … More Ten Common Estate Plan Mistakes to Avoid
Estate planning is the process of drafting documents that set out instructions regarding what happens when a person dies or becomes disabled. Many individuals procrastinate when it comes to their estate plan. However, procrastination can cause significant issues, including: Process of Probate In some situations, a decedent’s estate may not have to go through … More Don’t Procrastinate – Plan Your Estate!
The kids will get it anyway once I die, so why not transfer my home to them now. God forbid I get sick and require long term care, I don’t want the equity in my home to go towards these expenses. This may sound like a good idea, but there are unforeseen pitfalls to be … More Thinking of transferring your house to your children? Think Twice!
This Wall Street Journal Article discusses the choices now available for your Facebook account when you die. You can finally decide what happens to your Facebook account when you die. In a change of heart, the world’s most popular social network will begin allowing its members to designate someone—what they call a “legacy contact”—to manage … More What Happens to Your Facebook Account When You Die?
One of the main goals in estate planning is to provide for a clear and efficient way to distribute assets upon your death. This process can become much more frustrating for your family if they are unable to access your online account information with your banks, stock brokers, etc. Thus, it is a good idea … More Estate Planning Tip: Write Down those Usernames and Passwords.
Most of the time when you read about celebrities and their estate plans it is to point out something they may have done wrong, but today I am pleased to report that based on preliminary reports from TMZ, Robin Williams may have made the right moves in his estate planning by establishing a revocable trust … More Robin Williams’s Estate Plan: He got it right.
Many clients will call me and request an appointment to transfer the deed to their home to their children as they begin to worry about medical issues that may end up depleting the value of their home if it remains in their names. Others just want to transfer the home now so as to avoid … More Should I Transfer My Home to My Children?