When you are planning your estate, you are going to have to make choices with regard to how your resources will be distributed. This can be a simple matter for some people. For example, you and your spouse may decide to leave all assets to the surviving spouse. You can then leave each of your children equal shares of the estate that is left behind by the survivor. Unfortunately, everyone does not have the same balanced family dynamic. For some reason, you may want to distribute resources … [Read more...] about Will Your Estate Be Challenged?
One of the most compelling reasons why you should work with an estate planning attorney to devise your strategy is because you have options. As a layperson, there is no reason why you would know about all the different ways that you can facilitate asset transfers. There is an ideal course of action to address just about any scenario. With this in mind, we will look at inheritance planning for people with special needs in this post. In the future, we will examine some other case-specific … [Read more...] about Choose the Right Inheritance Planning Tools
There are many tools in the estate planning toolkit, so there is an ideal course of action that can be implemented to address any situation. This is one of the reasons why it is important to discuss your objectives with an attorney. Many people do not understand what is possible, and uninformed decisions can yield negative consequences. With this in mind, we will look at a couple of different ways that life insurance can play an integral role in estate planning for small business … [Read more...] about Life Insurance Provides Succession Solutions
A living trust is a versatile and highly effective estate planning tool that can be a better choice than a last will as the centerpiece of your estate plan. Unfortunately, many people that could benefit from the utilization of a trust do not consider this option. One of the reasons why you may ignore the possibility of trust creation is because you fear a loss of control. Yes, it would be nice to set aside resources that you would like to leave to your loved ones, but you do not know what … [Read more...] about Can You Change a Living Trust?
Many people have misconceptions about the way things transpire after someone passes away. For example, you may conjure images of scenes that you have seen in movies and on television shows. There is a funeral, and the attendees gather at the home of a family member after it is over. Certain people are called into a room where a meeting is convened, and there is then a “reading of the will.” The idea is that the executor that reads the will has the power to distribute the assets independently … [Read more...] about Consider Estate Administration Realities
When we post on this blog, we usually share information about what you should do when you are planning your estate. On this day, we are going to go in a different direction that is just as useful if not more. We are going to look at five common estate planning mistakes that should definitely be avoided. Intestacy Let’s face it, passing away is at the very bottom of everyone’s to-do list. For many, it is a subject to be avoided, and this can yield negative consequences. If you keep … [Read more...] about Top Five Estate Planning Mistakes
If you speak with elders when you are young and anxious, they will tell you that time may seem to move slowly for a while, but it passes very rapidly when you get older. This is certainly true, and before you know it, you may start to recognize the fact that your retirement years are just over the horizon. Unfortunately, many people do not come to this realization until it is too late to accumulate the resources that they need to retire in comfort. Retirement planning is very important, and … [Read more...] about Holistic Planning Should Start Early
Studies consistently show that a significant percentage of people do not have last wills or any other estate planning documents. In fact, a 2019 survey that was conducted by Caring.com found that 57% of the adults that responded were unprepared. As you might expect, younger people are less likely to have wills than their older counterparts. This being stated, a surprising 34% of people 65 years of age and older stated that they did not have plans in place. The figure was a shocking 61% for … [Read more...] about Estate Planning Inaction Is All Too Common
Our law firm is devoted to estate planning and elder law matters, and we have an office in Essex Junction, Vermont. It is truly a fantastic place to call home, and the area provides residents with the best of all possible worlds. Perhaps the best thing about the city is the fact that it is a close-knit community, and locals genuinely care about one another. There are resources that people can tap into when they need assistance with all different types of challenges, and one of them applies to … [Read more...] about Connect With the Vermont Chapter of the Alzheimer’s Association
When we post on this blog, we usually share information about what you should do when you are planning your estate. On this day, we are going to go in a different direction that is just as useful if not more. We are going to look at five common estate planning mistakes that should definitely be avoided. Intestacy Let’s face it, passing away is not on anyone’s to-do list. For many, death is a taboo subject, and while it may be understandable, this perspective can yield negative … [Read more...] about Top Five Estate Planning Mistakes