February is the month of love. With Valentine’s just passing, it is important to show your loved ones that you love and care for them. Estate planning is a creative way to show your love. Here are a few ways you can express your love for others in your estate plan.
Single vs. Married Estate Planning
Whether you are single or married this Valentine’s Day, estate planning is equally important! There are many similarities and differences among estate plans involving those who are married and those who are single. In this blog, we identify some of those similarities and differences.
Estate Planning After Divorce
Divorce can bring on many big shifts in your life. It is important to document these changes in your estate plan after your divorce is finalized. Here are a few tips on steps you should take to make sure your assets are protected, and your wishes are reflected in your plan.
Removing your former spouse from any beneficiary designation is an important step following a divorce. Updating documents is also a good idea to show the changes that occurred after the divorce, including naming new beneficiaries, updating who has access to your bank accounts, any name changes, and more. [Read more…]
Estate Planning Movies V.S. Reality
During the snowy season, it is common to spend a lot of time inside by the fireplace reading a book, playing board games, or watching movies. Fantastic movies such as “Mr. Deeds,” “Knives Out,” and even the Disney classic, “The Aristocrats” feature elements of estate planning. While watching these movies or other movies that touch on the topic of estate planning, we noticed there are many instances where estate planning is portrayed inaccurately. It is important to know the difference between fact and fiction.
Celebration of Life Day
There is a reason to celebrate every day. With today being National Celebration of Life Day, we encourage you to spend time with loved ones and prioritize your health and happiness. Sometimes with the busyness and unexpected changes that life brings, we forget to appreciate everything and everybody around us.
10 Tips for Choosing the Right Trustee or Executor
Choosing a responsible, trustworthy trustee and executor to respect your requests when you are not around can be a daunting task. They will have the responsibility of carrying out your estate plan after death, distributing the inheritance to your beneficiaries, closing accounts, and selling property. Many people choose to have their children or spouse to oversee their plan. Although less common, others may choose to appoint an attorney or professional trust company to be their trustee or executor instead of a family member or friend.
Financial Wellness Month Goals
January is National Financial Wellness Month. Take some time this month to sit back after the holiday craziness and do a check-up on your finances. It is important to set some achievable financial goals for the new year, and it is also a good idea to prepare for unplanned future expenses. Don’t know what goal to set? Don’t worry! We put together a list of 5 financial goals for our clients to choose from.
New Year, New Estate Plan
Happy New Year from the team at Family Estate Planning Law Group!
What’s your New Years’ resolution? Our firm’s resolution is to continue to learn and grow to make our Client Care Program the best it can possibly be! If you don’t have a New Year’s resolution, don’t worry. Here are a few suggestions of some great Estate Planning Resolutions, no matter where you are at in your estate planning journey:
Updating Santa’s Estate Plan
Two months ago, our firm had a very important review meeting with a long-time high-profile client. Confidentiality is very important to us, so we asked this client if it was okay to share the details of this review meeting with our blog post readers since it may be an educational example for our audience who need to update their plan. Our jolly clients happily agreed.
Ways to Give Back this Holiday Season
Charitable donations are a way to spread the holiday spirit and practice generosity. We encourage clients to make donations to causes they truly believe in.
The values of philanthropy can be a part of your estate plan through charitable donations. Making donations through your estate plan can also reduce tax liability for yourself, your estate, and your loved ones. Including giving in your estate plan can inspire your loved ones to follow your legacy, and you can set an example for generations after to be charitable, volunteer, and display empathy in everyday life.