Congratulations to all recent high school graduates! As graduation season comes to an end, it is time to think about planning and preparing for their future. Once your child turns 18, they legally become an adult, which comes with many responsibilities. As a parent, now is the best time to encourage them to prepare essential legal documents in case of an emergency, especially basic estate planning documents. Here are a few suggestions on documents your high school graduate should have before heading off to college or their first full-time job. [Read more…]
Estate Planning for New Moms
Happy Mother’s Day to all the wonderful moms out there! For some, this may be your first Mother’s Day. Whether you have been a mom for a day or twenty years, we can generally all agree that we want to protect and love our children. In this blog, we will highlight the important estate planning actions you should take and the changes to make as a new or expecting mom to make sure your children are taken care of in the ways that matter to you. [Read more…]
Celebrity Estate Planning Mistakes
For many people, some of our biggest inspirations are celebrities. It is common for the rich and famous to have estate plans, but celebrities make mistakes and sometimes they can be costly. In this blog, we will dive into three different famous musicians’ estate plans and look at where they went wrong. [Read more…]
Blended Family’s Estate Planning
After getting divorced or losing a spouse, some people may choose to get remarried. It is important to protect not only your significant other but also your children. Along with ensuring that your plan cares for your loved ones in the way you want, it is also especially important in blended families to communicate your wishes clearly so that everyone is on the same page to decrease any chances of frustration or fighting after you die. [Read more…]
Information Binder for Parents and Children
This spring, put some time aside to make a Family Binder.
What is a Family binder? A family binder is a binder where you keep any important information about you and your family. It is important to have one in case of an emergency, so you can find any important information immediately or if you suddenly must leave your family, pets, and medical conditions in the hands of someone else.
Estate Planning for Young Families
Reminder: It is never too early to start estate planning!
Estate planning is critical for young families to protect their little ones if the unthinkable happens. By planning and updating, you are ensuring that your child will be cared for if you pass away. Having a plan can also make sure money is set aside for necessities and college, and that your children’s guardian knows your wishes for where and how you want your children to be cared for. In this blog, we will address 3 common questions we are asked by young parents who are just getting their estate planning journey started.
Considerations When Naming a Guardian
Choosing a guardian for your child if you no longer can care for them can be a daunting task, but it is extremely necessary. If you do not have an appointed guardian and something happens to you, the court system will appoint one for you. There is also a risk that your child may be placed into foster care if the court believes a relative is incapable of caring for the children.
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.
How Gratitude and Estate Planning Are Related
What are you grateful for this holiday season?
The holidays are rapidly approaching. Around this time of year, it is common for people to reflect on the positive and negative moments of the year with family and friends, and to remember our loved ones who are no longer with us. It is important to be thankful for good health, the people around us, and our assets.
After the Holidays
Families tend to be at the center of holidays.
The holiday season is a great time to gather to celebrate and carry on our family traditions. This year, some of our traditions needed to be modified or changed, but I find that most families have adapted and found ways to stay connected. In estate planning, we’ve found that communicating with our families about their estate plan is necessary to ensure their estate plans will actually work, and that their family is taken care of. That’s why we’ve included a family care meeting in our estate planning process, whereby you, your trusted advisers, and your family members meet to discuss your estate plan and how best to take care of you and your family in the event of incapacity and death. Remember, we do not have to disclose the value of assets in these meetings (because we don’t know the value of the assets when you die), but it is important that your family meets your trusted advisors, understands what your intent is regarding your estate plan, and knows that you’ve taken the steps necessary to make things easier for them when you die.