When you compare a do-it-yourself Living Trust with one that was prepared by a qualified estate planning attorney, one of the first things you’re likely to notice is that the attorney-prepared trust is long. And it might not be so easy to read.There’s a good reason for this. Lawyers don’t write legal documents just to annoy non-lawyers: we write them in order to address as many potential legal issues as possible. When it comes to estate planning, there’s any number of contingencies to prepare … [Read more...] about Short and Sweet is Not Always Better

Compliments of Our Law Firm,By: The American Academy of Estate Planning AttorneysMaybe it’s the word “estate” that throws so many of us off, but there is something about the idea of estate planning that calls to mind the Warren Buffets and Bill Gates of the world. This tends to lead those of us who are not among the mega-wealthy to believe we’re off the hook. The truth is, estate planning is about achieving some pretty common goals and taking care of basic responsibilities, regardless of … [Read more...] about Don’t be Fooled: Estate Planning Isn’t Just for the Wealthy

Compliments of Our Law Firm,By: The American Academy of Estate Planning AttorneysWe all have areas of our lives that we prefer to keep out of the public eye. At the same time, each of us experiences intrusions into our privacy, both large and small, during our lifetime and even after death. For instance, those telemarketing calls that always seem to come just as you're sitting down to dinner are not just a nuisance; they are also an invasion of your family's privacy. On a larger scale, the … [Read more...] about Practical Strategies for Protecting Your Privacy

Compliments of Our Law Firm,By: The American Academy of Estate Planning AttorneysWhat is "wealth?" Upon hearing this question, your thoughts might run first to material possessions: money, real estate, and other assets. However, when you really think about it, your true wealth is much more than just your accumulated assets. It encompasses the financial and the non-financial, and many people would argue that the most important elements of true wealth are all those things that don't show up … [Read more...] about Leaving a Lasting Legacy

Compliments of Our Law Firm,By: The American Academy of Estate Planning AttorneysOne of the primary reasons for planning your estate is to make sure that your assets go where you want them to after you’ve passed away. If you’re a parent, it’s likely that you’ll want to use your estate plan to make sure your children are provided for. Many people choose to use their Will or their Living Trust to leave a lasting legacy to a favorite nonprofit or charitable cause.If you’re not careful, … [Read more...] about Estate Planning Without a Crystal Ball

Compliments of Our Law Firm,By: The American Academy of Estate Planning AttorneysWe love our pets. Each year, Americans spend billions upon billions of dollars to make sure that our dogs, cats, and assorted other animal friends are well taken care of. The American Pet Products Association estimates that in 2010, Americans spent more than $18 billion on pet food, more than $11 billion on medications and supplies, and more than $12 billion on veterinary care.Increasingly, pet owners are not … [Read more...] about Puppy Love: Planning Your Estate With a Pet Trust

Compliments of Our Law Firm,By: The American Academy of Estate Planning AttorneysDeb was like most of the rest of us. She was responsible. She took care of herself and her family, got an eye exam once a year, and visited the dentist every six months. She also made sure that she had an estate plan in place and even reviewed and updated it regularly. Imagine her surprise when she discovered that the estate planning attorney she had relied on for the past ten years was retiring!It’s not … [Read more...] about Help! My Attorney No Longer Practices Law

Compliments of Our Law Firm,By: The American Academy of Estate Planning AttorneysThe term “estate planning” calls to mind the process of creating a Will, establishing a Living Trust, or naming a Guardian for young children. One piece of the estate planning puzzle that might not be readily apparent, though, is insurance.When it comes to planning your estate, insurance in its many forms has an important role to play, both in allowing you to build and preserve wealth during your lifetime and … [Read more...] about Planning Your Estate? Don’t Forget Insurance

Compliments of Our Law Firm,By: The American Academy of Estate Planning AttorneysMost grandparents act as caregivers for their grandchildren to one degree or another. For some, it may be watching the little ones while mom and dad enjoy a much-needed evening out, while for others caring for grandchildren may be a long-term arrangement.According to data collected in the 2010 census, 4.9 million children under age eighteen live in grandparent-headed households. Most of these children live in … [Read more...] about Parenting Your Grandchildren? You Need a Solid Estate Plan

Compliments of Our Law Firm,By: The American Academy of Estate Planning AttorneysAt some point in our lives, we all dream of receiving an inheritance.  We envision buying a new car, finally being able to afford private schools for the kids, or maybe even taking a trip around the world.  But the reality of inheriting money or property often differs from our dreams.For one thing, an inheritance often comes with mixed emotions. After all, the money you’ve received comes as a result of … [Read more...] about What to Expect When You’re Inheriting