In addition to expressing thanks for all that you have in this world, take the opportunity, while your loved ones are relegated to one table, to discuss, or at least investigate, the following topics that will surely give them pumpkin to talk about. Power of Attorney: Easy as pie to execute, a Power of…
Continue reading…Category: Elder Law
How to Find the Right Legacy Planning Attorney for You.
Legacy planning is much more than a configured documentation of your assets. It is both a personal and procedural preparation of your life requiring additional foresight and planning for beyond. Developing a solid estate plan requires a culmination of knowledge based on law, accounting, and a level of customization that only a good estate planning…
Continue reading…Estate Planning Is Dead
by Daniel Scott, Forbes July 26, 2018 Link to Original Article Estate planning is dead. Gone are the days of creating legal structures to hold your assets, pass your fortune on to the next generation and, of course, avoid paying estate taxes. Gone are the days of planning for your death. It’s time to plan for…
Continue reading…What Is Probate?
At Phillips Ballenger, we believe that proper estate planning is essential in avoiding probate. Probate, a process regulated by statutory guidelines and applied through the courts, is triggered when an individual dies without a trust. This process, like other forms of litigation, can be long, arduous, and sadly, adversarial. This week, we give you an introduction…
Continue reading…Celebrity Estate Planning Mistakes – UPDATE: Aretha Franklin Did Not Have a Will!
Large and complex estates are not always adequately planned for. The most recent example of this is the unfortunate passing of famous vocalist, Aretha Franklin. At 76, the singer’s illustrious career is left, vulnerable to the effects of probate, because no will or trust document was left to allocate her assets (link). Unfortunately, her heirs…
Continue reading…The Tough Stuff: Talking with Your Loved One About End-of-Life Arrangements
Guest Blog by Beverly Nelson, StandUpForCaregivers.org Create an Estate Plan Your loved one might already have an estate plan in place, but if it’s been some time since it was revisited or revised, encourage them to take a look to see if anything needs to be added or changed. Their will should designate who…
Continue reading…Guardianship Issues – Awareness & Planning Wins
Getting older and losing one’s independence is a topic that most don’t like to think about, let alone plan for. However, it is extremely important to talk about these difficult issues in order protect Senior Citizens from being taken advantage of by unscrupulous third parties. The number of Americans ages 65 and older is projected to…
Continue reading…Who are the Decision Makers in Your Estate? (Part 1)
Who are the Decision Makers in Your Estate Plan? (Part 1) Within an Estate Plan, there are decision makers that are appointed to make sure your estate runs efficiently and appropriately after you are gone. Some of these decision makers will play a very small role and some will have a larger, more active…
Continue reading…Things to Do Following the Death of a Loved One: Part III
Links to Part I and Part II of this Series. The following outlines some of the legal duties associated with serving as Trustee of your loved one’s trust. “I’ve Been Named as Trustee… Now What?!” And then there are a few additional items of which you need to be aware: Again, this general list of duties is not meant…
Continue reading…Things to Do Following the Death of a Loved One: Part II
Part II of this series covers issues specific to successor trustees/trust administration. Part I of this series can be found here. For Trusts: The Person(s) Nominated as “Successor Trustee” May Also Need to: Inform the family/other beneficiaries named in the Trust that you are the Successor Trustee. Give copies of the Trust to known…
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