People often focus on their finances and physical property when planning for asset management after their passing, but it’s also important to make a digital estate plan since more and more of our personal information is stored online these days. Social media accounts, email accounts, subscription services, images or videos…
The documents that make up your estate plan should be living documents that evolve and change with you. It’s best to review your plan at least every 5 years or whenever you or one of your beneficiaries has a major life event, including marriage, a new child, divorce, inheritance, or…
Many of us have accumulated a lot of stuff over the course of our lifetimes. Some of it may have significant monetary value, but most items have more sentimental worth. All of a person’s belongings have to end up somewhere after they pass away, and a lot of people don’t…
When it comes to estate planning, families with special needs children need to take extra care to prepare for when you will no longer be around to care for your child. As part of an estate plan designed to help enhance and enrich your child’s life both in the present…
Not only are Limited Liability Companies (LLCs) a useful tool for small business owners, but they can also be a valuable tool for your estate plan and can be used to avoid gift and estate taxes when you pass assets down to your children. An LLC is somewhere between a…
One common issue that arises when creating an estate plan is choosing which family members to name as agents or how to divide assets when you have favorite relatives. When it comes to naming agents, you’ll want to consider a number of factors. For someone such as your health care…
The question of what should be done with estate planning documents after they are created is one of the most common questions estate planners are asked. In short, documents should first be distributed to the appropriate people and agencies, and then they should be properly stored. However, who they should…
One of the most difficult parts of dealing with the passing of a loved one immediately following their death is making decisions for their final arrangements. The first question asked of next of kin is often where to send their loved one. The funeral home soon meets with the client…
Although a lot of estate planning advice is written for people who are married and have multiple kids, this is obviously not everyone’s situation. Last week’s post covered a number of estate planning needs of individuals who are not married, and I will continue writing about that today. It’s important…
Discussions about estate planning often leave the impression that every senior in the United States is a married person with children. This is clearly not the case, and everyone who doesn’t happen to fall into this category needs the same amount of estate planning guidance as those who do. In…