Painless Estate Planning
CNN has a great article entitled “10 Steps to Painless Estate Planning” which discusses many of the issues I have discussed in past blog posts. It highlights the importance of having a written estate plan, including a will and a revocable living trust, amending these documents when necessary, and creating a power of attorney and advance […]
Estate Planning Lessons from Celebrities
Forbes has an interesting article entitled “Oscar Winners Teach Five Lessons on Estate Planning.” It is an interesting read and you can learn some big mistakes that are common on many estate plans. The five celebrities mentioned are Philip Seymour Hoffman, Elizabeth Taylor, Heath Ledger, Frank Sinatra and Marlon Brando.
Mistakes in Philip Seymour Hoffman’s Estate Planning
Celebrity deaths are often followed by a very public battle between heirs over the celebrity’s assets, fame, and residual income. This CNBC article entitled “Here’s Why Philip Seymour Hoffman’s Will is a ‘Mess’” helps others not make the same mistakes. Mistake Number 1 Hoffman’s will is over a decade old. Wills should be changing documents […]
When to Change the Names of Beneficiaries on Accounts
This interesting article on Marketwatch entitled Don’t Make the No. 1 Estate Planning Goof offers an interesting insight into making sure that you change the names of beneficiaries to accounts that are payable upon death. Examples of such accounts include most retirement accounts (401(k)s, Roth IRAs, IRAs), life insurance policies, some mutual funds, life insurance, certain bank […]
What We Can Learn From Actor Paul Walker’s Estate Plan
Forbes recently had an interesting article entitled Five Estate Planning Lessons from the Paul Walker Estate. It provides an interesting insight into the estate plan of the late actor that was valued at 25 million dollars. His untimely death at 40 years old also shows that estate planning can never be done too early. His first will […]
The Benefits of Hiring an Attorney to Draft Your Estate Plan
This article from Forbes Magazine, entitled What Could Happen If You Write Your Own Living Trust provides an interesting glimpse into the challenges faced by heirs or by someone still alive when attempting to draft their own estate plan. Hiring an attorney upfront to draft an estate plan can often be a more cost effective process than […]
Is Putting Your Property in a Revocable Living Trust Enough?
You have signed your revocable living trust and will and believe that you have completed your estate plan; however, there are important options for ownership of your real estate that you may have overlooked. A revocable living trust is a great method to pass on real estate to beneficiaries by avoiding probate. It allows you […]
Tips to Begin the Estate Planning Process
Before seeing an attorney an estate plan, it may be important to sit down and think about some major issues that will need to be discussed with your attorney when you begin to craft an estate plan. Generally, an estate plan will consist of a will, a revocable living trust, a durable power of attorney, […]
Estate Planning Tips if You Have Minor Children
Estate planning is different for every age group and for every person; however, there are certain categories of persons that could especially benefit from estate planning. People with young children often do not think about estate planning as they are busy raising children, starting professions, and beginning “adult lives;” however having children should be a […]
