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Estate Planning Checklist Here is a general checklist that to help you while preparing to create or update an estate plan. Beneficiary Designations: Make sure you name a beneficiary for all non-probate assets, including 401(k)s, IRAs, life insurance policies, pensions, and bank accounts. For those who already have an estate plan, it’s important to ensure that the person currently named is…
What is Estate Planning? Estate planning is a crucial step in ensuring that your assets and wishes are protected and carried out according to your desires. The estate planning process typically consists of the following steps: Evaluation of Assets: The first step involves assessing your assets, including properties, investments, bank accounts, and personal belongings. Setting Goals: Next, you will work with…
The Importance of Having a Will Make sure that you assure protection of your assets through a well-crafted Will. Many people underestimate the significance of having a Will in place. A Will serves as a legal document that outlines your wishes regarding the distribution of your assets and the care of your dependents after your passing. It ensures that your hard-earned…
The Importance of a Healthcare Proxy An important topic that often goes overlooked is the significance of having a healthcare proxy. I wanted to take a moment to discuss the importance and benefits of having a healthcare proxy in place. A healthcare proxy, also known as a medical power of attorney, is a legal document that allows you to appoint someone…
The Benefits of a Trust Fund There are significant benefits of establishing a trust fund. A trust fund can be an invaluable tool for managing and preserving wealth for both individuals and families. While the need for a trust fund may vary depending on individual circumstances, there are several situations where it can be particularly beneficial: 1. Minors or individuals with…
Make A Will Month August is Make a Will Month. This is your reminder about the importance of creating and updating your estate planning documents. Even though soaring inflation has caused one in four Americans to recognize a greater need for estate planning, the unfortunate reality is that only 34.1% of Americans have a will in 2023, and even fewer have an…
Estate Planning Tips While an estate attorney should be your primary resource on this topic, I see these oversights financially impact my clients so often that I wanted to be sure I shared some guidance. As always, our office here to answer any questions you may have. 1. Beneficiary Designations and Updates Make sure your beneficiaries are up to date on…
Steps to Take After Someone Passes In my role, I often meet people for the first time soon after a loved one has passed. It’s a confusing, stressful time for all, so I thought I’d share a list of steps to follow in the unfortunate event that you need it. Tuck it away and let it be something you can turn…
Inheritance and Financial/Estate Planning Something that routinely comes up in financial and estate planning discussions—how to plan for an anticipated inheritance? It can be tough to discuss, but we encourage all clients to have a plan in place for when (and if) an inheritance comes their way. Here’s some high-level guidance: If your anticipated inheritance is years away, plan and…
Estate Planning Mistakes Failing to include power of attorney – A power of attorney names someone you trust who can act in your stead should you become medically incapable of making important financial, legal, and/or medical decisions. Misunderstanding your estate plan It’s critical you take the time to read through and understand the plan, what it entails, and what will happen when it…