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Tuesday, August 8, 2017

Estate Planning for Millennials - You're Not too Young to Start Planning! (Part 3)

You have made it!  The third (and final) installment dedicated to my fellow Millennials.  For this segment, I am discussing asset protection - what it entails and how it works.  


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Saturday, July 15, 2017

Estate Planning for Millennials- You're Not too Young to start Planning! (Part 2)

Welcome back!  As exciting as this topic doesn’t sound, I promise this is extremely helpful and necessary! This post outlines the documents that are typically included in a basic (yet, comprehensive) estate plan.


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Thursday, July 6, 2017

Millennials - Time to Start Planning for your Estate! (Part 1)

Time to put aside the stereotypes, and start planning for the future!  Millennials, this is for you.  


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Wednesday, June 28, 2017

Estate Planning for your Pets!

What happens to your pets if you pass away?!  You can make sure they're taken care of with proper planning!


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Tuesday, July 26, 2016

Things to Do Following the Death of a Loved One: Part III

Please Note:  The following is a general list of considerations and should not replace the advice of an attorney familiar with your situation; This article is not legal advice and will not necessarily apply to all situations- for specific advice tailored to your situation, please consult with an estate planning attorney.  


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Friday, July 22, 2016

Things to Do Following the Death of a Loved One: Part II

Please Note:  The following is a general list of considerations and should not replace the advice of an attorney familiar with your situation; This article is not legal advice and will not necessarily apply to all situations- for specific advice tailored to your situation, please consult with an estate planning attorney.

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Tuesday, July 19, 2016

Things to Do Following the Death of a Loved One: Part I

Please Note:  The following is a general list of considerations and should not replace the advice of an attorney familiar with your situation; This article is not legal advice and will not necessarily apply to all situations- for specific advice tailored to your situation, please consult with an estate planning attorney.  


Read more . . .


Tuesday, August 26, 2014

Nevada is voted Best Trust state in America (again)...

Tiffany Ballenger, Esq., Phillips Ballenger Estate Attorneys:

Good news for Nevada residents, practitioners & those who form Nevada based trusts- Nevada wins "by a landslide" once again for best state to form a trust. 

Here's the article from Trust Advisor.com-

 


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Saturday, February 22, 2014

Phillips Ballenger Announces Military and Teacher Discounts

We are happy to announce that all current and former Military service members and current teachers will be offered a discount on Estate Planning, Asset Protection (including LLC formation and Nevada Asset Protection Trusts) and Short Sale/Loan Modification retentions. 

This is our way to thank you for your dedication and service to our country and community!

-Tiffany Ballenger, Esq.


Thursday, June 6, 2013

Education Event

Tiffany Ballenger, Esq. will be presenting at the "Leaving a Legacy" workshop sponsored by the City of Las Vegas and the National Coalition of 100 Black Women on Wills, Trusts, and Probate on Saturday, June 8, 2013.  For more information and to sign up, please contact Li'Shey Johnson at NCBW100EDC@gmail.com.  Workshops also include speakers on Credit Repair, Life Insurance, First Time Home-Buyers Programs, How to Write a Business Plan, Labor & Enployment, Social Media, & Marketing Your Business. 


Monday, April 8, 2013

What Could Happen If You Write Your Own Living Trust?

Readers often ask me about do-it-yourself estate planning. Lawyers want to know how to discourage clients from using books or software and websites that spew out documents for free or for a fraction of what they charge. Meantime, consumers ask, “What’s wrong with that?”

The trouble with do-it-yourself planning is that even if your situation seems simple, there are many oddball things a layman wouldn’t think of that can go wrong, especially with wills and trusts. These mistakes can end up costing you or your heirs a lot more than you saved in legal fees.

Eileen Guerin Swicker, a lawyer with her own practice in Leesburg, VA, recently told me about a really doozy. It involved a client who set up his own living trust.

By way of background, both a will and a living trust can be used to transfer assets, and each has unique uses and features. For example, only a will can name guardians for children who are minors. (For how to choose a guardian, see my post, “Adam Yauch’s Will Reveals His Private Dilemma.”) And unlike a will, a living trust can take effect while you are alive, so it can be used to hold assets for your benefit if you become unable to manage them yourself.

The client who Swicker told me about set up his own trust in 1984, using a 3-page form that he bought at an office supply store. He recorded a deed to transfer his home into the trust, and absentmindedly dated that deed 1983 (in other words, one year before the trust was created).

Flash forward to 2009 when this fellow, who had paid off the mortgage on the house, wanted to borrow against it. He planned to give his adult daughter $300,000 in cash so she, in turn, could pay off the mortgage on her own house. Great strategy (see my posts, “5 Ways To Help Family Pay For Housing,” and “The Best Investment Advice I Ever Received”).

But at this point, his clerical error of 25 years earlier came back to haunt him. Why? Because the title company said he didn’t have a clear chain of title to his home, so the bank wouldn’t give him the loan. The man, who by then was 75, called Swicker’s previous law firm in tears, asking for help.

Fixing the problem was a convoluted process that took two weeks and wound up costing the client $2,000 in legal fees. That’s about twice what he would have had to pay back in 1984 if he had had the firm draw up the trust instead of doing it himself, Swicker says.

After that, Swicker hoped the client would call back and ask lawyers to help bring his estate-planning documents up to date. But by the time Swicker left the firm eight months later, he still hadn’t done that. Says she: “It was one of those classic cases of somebody who dug a hole, and kept digging it deeper.”

-Deborah L. Jacobs, Forbes

http://www.forbes.com/sites/deborahljacobs/2012/08/16/what-could-happen-if-you-write-your-own-living-trust/


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