Making important decisions for aging parents can be a challenging task, but power of attorney (POA) can provide peace of mind and clarity in times of need. POA enables individuals to make crucial decisions on behalf of their parents, such as managing their finances or making medical decisions, when they are unable to do so themselves due to age or illness. While it may be difficult to approach this topic with your parents, having these discussions early on can help ensure that you follow their wishes if their health changes over time. Starting the conversation with empathy and understanding can make all the difference.

Q: Can I leave my 401(k) to my minor children when I die?

If you have a current estate plan, I'll bet you plan to leave your assets to your children outright and unprotected by age 35, or maybe a little later. Go take a look at your estate plan, and see what it does right now. Let's look at some ways you can protect the money you are leaving them.

In most cases, from the most sophisticated business people with the highest net worth to those just starting in the workforce and on their path to adulthood, you very likely do not know how to evaluate estimates when shopping for an estate plan. Shopping for an estate plan based on getting the l...

While most lawyers will create a Trust for you, only some will ensure your assets are properly funded. We’ll not only make sure your assets are properly titled when you initially create your Trust, we’ll also ensure that any new assets you acquire throughout your life are inventoried and properly funded to your Trust. This will keep your assets from being lost and prevent your family from being inadvertently forced into court because your plan was never fully completed.

Q: Do I need to create a new will if I move to another state?

Investing in life insurance is a foundational part of estate planning, and when done right it’s a primary way to say “I love you” to your loved ones after you are gone. However, when naming your policy’s beneficiaries, several mistakes can lead to potentially dire consequences for the people you’re investing to protect and support. The following four mistakes are among the most common we see clients make when selecting life insurance beneficiaries. If you’ve made any of these errors, contact us immediately, so we can support you to change your beneficiary designations on your policy and ensure the proceeds provide the maximum benefit for those you love most.

You’ve probably heard you need a trust to keep your family out of court and maybe out of conflict in the event of your death or incapacity. And, if you haven’t, you are hearing it now. If you own any “probatable” assets in your name at the time of your incapacity or death, your family must go to court to access them. If you aren’t sure if your assets are “probatable” contact us to discuss. But you may need clarification about whether you need a revocable living or irrevocable trust. More and more, we are seeing people come our way asking for an irrevocable trust, and so this article is designed to help you learn the difference and then get into an “eyes wide open” conversation about the right kind of trust for you and your loved ones. 

In this article, we will review some of the most critical things you need to know about living wills and why having a living will is essential to every adult’s estate plan. And it may be that a living will is even more important than a last will and testament.

Maybe you’ve wondered about your own debt or perhaps your parent’s debt—what happens to that debt when you (or they) die? Well, it depends, and that’s part of the reason you want to ensure your estate plan is well-prepared. How you handle your debt can greatly impact the people you love.

How do I include cryptocurrency in my estate plan?

This week, before the year ends, consider these 5 financial, retirement, and tax actions you may need to take before it’s either too late or very costly for your family.

No matter how well you think you know your loved ones, it’s impossible to predict exactly how they’ll behave when you die or if you become incapacitated. No one wants to believe that their family members would ever end up fighting one another in court over inheritance issues or a loved one’s life-saving medical treatment, but the fact is, we see it all the time.

This year, we invite you to ask your mother, father, and/or another loved one the 32 important questions below that can teach you valuable lessons about love, life, and what matters most. And, don’t just ask them, record their answers to create your own Family Wealth Legacy.

While there are dozens of potential tax breaks you may qualify for, here are 4 of the leading moves you can make to save big on your 2022 tax return. However, there may be other opportunities for saving, so meet with us, your Personal Family Lawyer® to make certain you haven’t missed a single one.

Dear Ready: Although you generally must wait until age 59½ to make withdrawals from your 401(k) without incurring a 10% early-withdrawal penalty, the IRS allows for a separation of service exception for certain workers. Also known as the “Rule of 55,” if you quit, were laid ...

If you earn a good living now, but you worry about not having enough money for a future time when you cannot work due to illness or injury, disability insurance is your answer. However, you need to make sure you are getting an insurance policy that will meet your needs and not waste your money. This article covers 7 issues to consider when purchasing disability insurance.

If you have preferences about what happens to your digital footprint after your death, you need to take action. Otherwise, your online legacy will be determined for you—and not by you. If you have any online accounts, such as Gmail, Facebook, Instagram, LinkedIn, Apple, or Amazon, you have a digi...

Looking at how Instagram, Twitter, and Apple’s collection of online platforms handle your accounts once you log off for the final time.

If you have preferences about what happens to your digital footprint after your death, you need to take action. Otherwise, your online legacy will be determined for you—and not by you. If you have any online accounts, such as Gmail, Facebook, Instagram, LinkedIn, Apple, or Amazon, you have a digi...

People often come to us curious — or confused — about the role trusts play in saving on taxes. Given how frequently this issue comes up, here we're going to explain the tax implications associated with different types of trusts in order to clarify this issue. Of course, if you need further clarif...

This year, Estate Planning Awareness Week runs from October 17th to 23rd, and one of our primary goals is to educate you on the vital importance of not only preparing an estate plan but also keeping your plan up-to-date. While you almost surely understand the importance of creating an estate plan...

With the cost of a funeral averaging between $7,000 and $12,000 and steadily increasing each year, at the very least your estate plan should include enough money to cover this final expense. And if you are thinking of simply setting aside money in your will to cover your funeral expenses, you sho...

Actress Anne Heche died this August following a tragic car accident, leaving behind two young sons: Homer Heche Laffoon, age 20, and Atlas Heche Tupper, age 13.  Last week, in part one, we covered the way uncertainty around Heche's estate plan is creating conflict among her loved ones and result...

Actress Anne Heche died this August following a tragic car accident in which she plowed her vehicle into a West Los Angeles home, where it burst into flames. After being pulled from the wreckage, the Emmy Award-winning actress was hospitalized in critical condition, suffering from severe burns an...