Category Archives: Estate Planning
All in the Family: Making Sense of Per Stirpes, By Representation, and Per Capita Distributions
“That’s not fair!” In many households, this is the common refrain of children as they advocate for themselves or express what they feel to be unjust. This pursuit of fairness, however, is not limited to arguments between parents and young children. The notion of fairness often pervades family dynamics and may continue even beyond… Read More »
Serving as a Fiduciary: What You Need to Know
You may be asked to be power of attorney for a family member or friend. Your family member or friend may be planning for when they might become unable to take care of their affairs. For example, they might become disabled or incapacitated, and they would need a trusted person to step in and… Read More »
Coming of Age and Powers of Attorney
When your child turns 18 (in most states), it might be hard to imagine that the little child who once needed you for everything has now become – overnight – an adult. Now your child is free to vote, marry, apply for a credit card, make medical and financial decisions, sign contracts, and live… Read More »
What Happens If My Beneficiary Dies Before Me?
When planning for death, most people assume they will die before their beneficiaries (e.g., their spouse, children, and grandchildren). While these assumptions are often well-founded, they do not always come to pass. This may have you wondering, “so what happens if my beneficiary dies before me”? Or, if this has already happened to you,… Read More »
Estate Planning After a Personal Injury Settlement
In the hectic and sometimes dangerous world that we live in, it is an unfortunate fact of life that accidents happen and people get hurt. The U.S. legal system is designed so that those who suffer injury through the avoidable fault of others can seek compensation for those injuries. Sometimes injuries are so severe… Read More »
Disaster Preparedness Month: How to Prepare for Whatever May Come Your Way
The unpredictable can occur at any time: fires, hurricanes, floods, earthquakes, pandemics—you name it. Because September is National Disaster Preparedness Month, we want you to be prepared for whatever life throws at you. Although none of us can predict the future, there are some things you can do to ensure that you and your… Read More »
7 Ways to Avoid Family Fights Over Property
Ask a group of friends if they have experienced family fights over property after a loved one has died, and you will be in for a lively and eye-opening conversation. Far too many families end up fighting, or at least experiencing tension, over a family inheritance. But it does not have to be that… Read More »
Designating Beneficiaries: 8 Pitfalls You May Not Know About
You might think that leaving your property to your heirs would be simple enough. You make a will or a trust, you do a transfer-on-death deed for your real estate, you put your kids on your bank account, you designate beneficiaries for your life insurance and retirement accounts, and you’re done. If only things… Read More »
How to Avoid a Frozen Bank Account After the Death of a Loved One
The death of a loved one is one of the most difficult times in a person’s life. Nothing can truly prepare a person for such a loss. However, dealing with the financial stress of frozen bank accounts can exacerbate the stress. Without proper planning, your significant other could struggle to gain access to your… Read More »
A Will Does Much More Than Transfer Your Assets
Caring.com annual estate planning survey for 2019 found that 57% of U.S. adults do not have a Last Will & Testament (a “Will”). The survey found that participants were more likely or less likely to have a Will depending on issues such as age, race, and education. For example, when broken down generationally, 66% of people… Read More »
