Blog Category - Estate Planning Page 5

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Jul

What to Do with Grandma’s Ring: Dividing Personal Property in an Estate

If you have a beloved late grandmother, many images and memories may come to mind when you reminisce about her. You might picture her at her home or at the family vacation house during the holidays. Your memory could be a special meal that only she prepared for you or a place she...

Jul

“Reel” America: Celebrating National Movie Month

An Estate Plan Is Your Script to a Lasting Legacy “We are all storytellers, and we are the stories we tell,” wrote American psychologist Dan McAdams. Narrative thinking refers to how we view our own role in the story of our lives. It is a more formal way of describing...

Jul

The Perils of Joint Property

People often set up bank accounts or real estate so that they own them jointly with a spouse or other family member. The appeal of joint ownership, specifically with survivorship rights, is that when one owner dies, the other owner(s) will automatically inherit the property witho...

Jul

Won’t My Spouse and Kids Inherit Everything When I Die?

You may think that if you die while you are married, everything you own will automatically go to your spouse and children. But you are actually thinking of state rules that apply if someone dies without leaving a will. In legal jargon, this is referred to as dying intestate. In t...

Jul

What Is a General Power of Appointment?

Your family, the economy, the law, and society can change rapidly and unexpectedly, affecting your best-laid estate plans in unpredictable ways. To achieve your estate planning goals, you need a plan that can keep up with the changes. And few estate planning tools provide more fl...

Jul

Preparing Your Senior for the Real World

High School Seniors Can Use a Starter Estate Plan The long, carefree days of summer are nearing an end. If you have a high school senior at home, childhood is also coming to an end for them as they prepare to graduate, turn 18, and enter the “real world. ” You have don...

Jul

5 Tragic Mistakes People Make When Leaving an Inheritance to Their Pets

Planning for your pets in your estate plan is an excellent way to ensure that your beloved pet will receive proper care and attention after you pass on. The problem, of course, is that you will not be there to ensure that your wishes are carried out. That is why it is critical to...

Jul

3 More Famous Pet Trust Cases and the Lessons We Can Learn from Them

Sometimes, pet owners can get a bit creative when providing for their pets' future care. The following three famous cases involving pet trusts offer some important lessons. David Harper and Red David Harper, a wealthy, reclusive bachelor in Ottawa, Canada, was not exactly f...

Jul

3 Famous Pet Trust Cases and the Lessons We Can Learn from Them

Not long ago, pet trusts were thought of as little more than eccentric things that famous people did for their pets when they had too much money. These days, pet trusts are considered much more mainstream. For example, in 2016, Minnesota became the fiftieth state to legally recog...

Jul

A Trust for Fluffy or Fido? Why Every Pet Parent Needs to Consider a Pet Trust Today

Estate planning is about protecting what is important to you. Although much of the traditional estate planning conversation focuses on surviving spouses, children, grandchildren, and charities, many pet parents wonder what could happen to their “furry children” after ...

Jul

Are You Ready to Celebrate National Make-a-Will Month? Empower Yourself with Peace of Mind This Month

Which Will Would You Choose? If you or your loved ones have not yet created a will, you are not alone. In fact, according to a recent survey, not having created a will puts you among the majority of Americans. Like many Americans, you may wait for a major life event to occur befo...

Jul

The Power of Purpose: Unveiling the Impact of Charitable Giving

Compared to residents of other wealthy nations, Americans are more likely to give their time and money to help others. In 2023, the United States ranked ninth in per capita gross domestic product (GDP) but fifth on the World Giving Index rankings. Polling shows that Americans tru...

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