04 Jun Putting off estate planning can be a risky thing to do
Have you been putting off estate planning because...
02 Jun How to Handle a Life Insurance Policy
You’re one step ahead of everyone else in this crazy game called life: you’ve made an estate plan to distribute your assets after you die. Great job, and…now what? What do you do with those assets to ensure that they are distributed as you planned in your Will or Trust? We...
29 May How much will your estate plan cost?
What response would you expect to get if you called your doctor’s office and asked, “How much do you charge for an amoxicillin prescription?” Probably an incredulous: “Uh, we need to see you before we can prescribe medication.” Maybe you push your luck. “It’s just a simple sore throat.” Certain response: “Unless the...
19 May Are you buying a value meal or an estate plan?
There are times when prioritizing speed and cost in a purchasing decision makes sense. I like to go to a really high-end steakhouse every now and then, and linger over a three-hour dinner, served slowly and prepared with great care. But not when I’m on a cross-country road trip. When...
18 May What Are FAQs About Personal Representatives and Trustees
Part Three of our series on Personal Representatives and Trustees concludes with some common questions. (Part 1 -- "Serving as Personal Representative or Trustee, A Step-by-Step Guide" -- is available here; Part 2 -- "Personal Representative? Trustee? What are these titles and who should get them" -- is available here). 1....
13 May Serving as Personal Representative or Trustee, a Step By Step Guide
In Part One of this series we explored the basic terms related to fiduciary duties, and now we are ready to step deeper into what the role of Personal Representative or Trustee entails. What do these people actually do? 1. Read the Estate Plan The deceased has named their Agent in one...
09 May Personal Representative or Trustee? Estate Planning Roles & Titles
Most people consider it an honor to be named the Personal Representative or Trustee of a person’s estate. That’s true: it means someone considers you responsible, trustworthy, organized, and clear-headed, as these are all critical traits in a fiduciary. However, it’s more than an honor. It’s also a great responsibility. Naming...
03 May 5 Top Questions About Trust Funding Answered
One of the most versatile estate planning tools is a Revocable Living Trust. It’s often the best option if you are interested in avoiding the public, costly, and time-consuming process of probate, or wish to protect your assets beyond the next generation. They are especially recommended for people with blended...
02 Mar Can You Trust That Trusted Adult?
We hear of people all the time who decide to circumvent court interference by listing a trusted adult as the designated beneficiary of a life insurance policy. If you have minor children, they can’t receive money or assets of any kind until they reach the age of 18. Sometimes people...
02 Mar Good Communication
Here's a surprisingly common scenario: A couple decides to draw up a will. They split their estate evenly between their three kids, and name the husband's youngest brother as Personal Representative. Then, after both have passed away, it's discovered that the designated beneficiary forms on their bank accounts and retirement...