Estate planning is a complex endeavor on its own, but there are a few circumstances that can make it even more complex, such as when a spouse is not a U.S. citizen. While there are a few limitations to be aware of, there are also some strategies that make it possible to leave assets to a non-citizen spouse. First, we’ll Continue Reading →
Generally speaking, the more comprehensive your estate plan is, the better for your beneficiaries. Most people tend to think of assets as houses, cars, jewelry, etc. But in some instances, intellectual property could also be considered a transferable asset. Patents, trademarks, copyrights, even rights of publicity are intangible assets that should be factored into an estate plan for smooth handling. Continue Reading →
There are two types of guardianship when it comes to estate planning: guardianship of the person and of the estate. Both are important when it comes to creating a comprehensive estate plan. Guardianship of the person: This type of guardianship applies to minor children and incapacitated adults. The appointed guardian has the authority to make personal decisions for the Continue Reading →
The new year is an optimal time to check in on some of the basics of your estate plan, such as making sure your beneficiaries and documents match up with your current wishes and situation. A lot can change in a year, and it’s easy to forget about estate documentation and account beneficiaries that have been filed away. A regular Continue Reading →
A lot of people think an estate plan simply refers to a will or trust that provides explicit instructions for handling your estate after your death. Wills and trusts are definitely part of an estate plan, but there are many more components. So, what is an estate plan really? An estate plan is a comprehensive set of legal documents Continue Reading →
While you can’t directly leave assets in your estate plan to your pets, you should consider their future care and wellbeing should they outlive you. You may have a verbal agreement with a family member or friend who loves your pet, but there are other considerations, such as the cost of veterinary care, food, grooming, etc. that should be Continue Reading →
It’s hard to think about wills and trusts and your eventual death, but it’s even harder on your family and loved ones when there’s no plan in place for what happens after you die. And while no one really wants to talk about estate planning, you’ll find that you actually feel much better after you do. How a Will Continue Reading →
Disinheriting a family member or other potential beneficiary is usually considered an intentional occurrence. But it quite frequently happens purely by accident (known as “accidental disinheritance”) – either through procrastination or simply a lack of understanding of how estate and probate law work. Many people assume that a will on its own will dictate how assets are distributed. Continue Reading →
If you’re in an LGBTQ+ partnership (married, civil union, common-law marriage, or long-term relationship) you NEED a will…like yesterday. Don’t get us wrong, as an estate planning firm, we think having a plan for your future is imperative for anyone in any relationship. However, there are a few very specific things you need to consider adding to your will if Continue Reading →
And why you need both in your estate plan You’ve worked hard for your family most of your life. Naming beneficiaries can keep all your hard work you’ve provided to benefit your family where it belongs, ensuring generational wealth. When it comes to naming beneficiaries, you’ll need a primary beneficiary and a contingent beneficiary. But do you need both? Once Continue Reading →