Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys www.aaepa.com Your first meeting with an estate planning attorney may seem a little daunting, especially if you’ve never consulted an attorney before. There’s no need to worry, however. This meeting is just a conversation in which your attorney will find out about you, your family, and your goals. After you’ve shared this information, your attorney will be able to recommend a range of estate … [Read more...] about What to Expect at Your First Estate Planning Consultation

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys Not long ago, wives were “silent partners” when it came to estate planning. Husbands were the ones in charge of long-term planning and major financial decisions. In fact, estate planning attorneys often advised wealthy men to leave their assets in trust for their wives, so that a trustee other than their wife could manage and preserve the family fortune. It was assumed that a widow would not have … [Read more...] about Five Things Every Woman Should Know About Estate Planning

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys One of the biggest myths about estate planning is that it is something only wealthy people need because the only reason for having an estate plan is to minimize estate taxes. The truth is, estate taxes are only a tiny piece of the estate planning puzzle – and every adult needs an estate plan. Here are just a few non-tax reasons to plan: Put the Appropriate People in Charge. An estate plan allows you to … [Read more...] about Five Non-Tax Reasons You Need an Estate Plan

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys Estate Planning. To many people, it sounds complicated and foreign, something only the wealthy or the elderly need to worry about. It is often not at the top of the priority list for single people or for young couples. Even parents with young children, who know they should at least have a Will, tend to think of estate planning as somehow beyond their reach. In truth, regardless of your age, your situation in … [Read more...] about Why Everyone Needs an Estate Plan

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys We all know that low interest rates can create excellent opportunities to buy or refinance real estate. But did you know that a low interest rate environment can have an impact on your estate planning options as well? The four corners of a solid, basic estate plan remain the same no matter the economic climate. Interest rates do not determine the effectiveness of a Living Trust, Pourover Will, General Durable … [Read more...] about How Low Interest Rates Can Influence Your Estate Plan

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys Estate planning is one of those things that’s easy to put off. We don’t like to think about death – particularly our own – so we put it out of our minds. “What’s the worst that can happen?” we ask ourselves. We’d like to think that the answer to that question is that, even if we didn’t create an estate plan, we’d be off the hook. We’d be gone, so we wouldn’t have to deal with the consequences. This answer is … [Read more...] about Planning for the Worst-Case Scenario

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys We all want to make sure our children are financially secure after we’re gone. But accomplishing this means more than just deciding what portion of your estate each child will inherit. It also means determining how and when each child will receive their inheritance. When you have a child with special needs – particularly when that child depends on government benefits like Medicaid or Supplemental Security … [Read more...] about How to Leave an Inheritance for Your Special Needs Child

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys Insurance might not be the first thing that springs to mind when someone mentions estate planning. We tend to associate estate planning with Wills, Trusts, and taxes more than with declaration pages and policy terms. However, insurance serves two important estate planning functions, and without it, your plan might not be performing to its potential. The core purpose of insurance is to reduce risk, protecting … [Read more...] about Insurance: The Missing Link in Your Estate Plan?

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys You've just returned from your estate planning attorney's office with a draft of your new Trust. As you read through the document, the first thing you notice is how long it is. You're not rich or famous. Does it really take pages and pages of legal jargon to accomplish your intentions for your estate? You've seen do-it-yourself Trust kits online, and they look like they're only a few pages long. A short and … [Read more...] about Why Your Trust Shouldn’t be Short and Sweet