There are many differences between a Will and a Living Trust. When clients begin the estate planning process, an initial decision to be made is whether to center the plan around one or the other, according to The Northside Sun’s article “Do You Have a Will or a Trust? Why?” According to the article, the AARP indicates that most people prefer to use a Living Trust. One of the many differences between a Will and a Living Trust is that a Will operates only after your death. It i

When the time comes, having a power of attorney is a critical document to have. The power of attorney is among a handful of estate planning documents that help with decision making when a person is too ill, injured, is unavailable, or lacks the mental capacity to make their own decisions. The article, “Why you’re never too young for a power of attorney” from Lancaster Online, explains what these documents are, and what purpose they serve. You’re never too young or too old to

Imagine that a perfectly fine, aging-well parent has a minor stroke and is no longer able to manage their financial or legal affairs. What happens, asks the Daily Times, when you are confronted with this scenario in the aptly-titled article “Senior Life: What a nightmare! Untangling a loved one’s finances”? Estate planning attorneys know how stressful of an event this can be if an aging parent has not planned in advance by getting the appropriate legal documents in place. It

As an estate planning attorney, I am often asked (either by existing clients who are considering moving out of California, or by new clients who are moving here to California) “do I need to update my will if I move to a new state?” Anyone who moves to another state, whether for retirement, a new job or to be closer to family, at a bare minimum needs to review their estate plan to make sure it is valid and effective in their new state, advises the Boca Newspaper in the recent

With the variety of options available today, it’s natural to wonder whether you really need a lawyer to make a will or create a living trust. After all, they’re just forms, right? Wrong. In fact, do-it-yourself wills and trusts or online will and trust services often create problems for families, as reported in Next Avenue’s aptly-named article “The Problems With Do-It-Yourself Online Wills.” The article reports that one DIY estate planning service had three different “packag

Estate planning is a very personal process. If you’re childless, it’s actually much more important to have an estate plan than you might realize. When a person has no children or close relatives (other than perhaps a spouse), the decisions needed to create an estate plan can be overwhelming. Kiplinger’s recent article, “No Children? Why You Still Need an Estate Plan,” provides some ideas: Incapacity Planning Documents Everyone should have an advance healthcare directive and a

The concept of a Power of Attorney (POA) sounds simple, but there is a lot to know about this important part of an estate plan, says the Rushville Republican in “Financial power of attorney responsibilities.” Whether you are named as someone’s power of attorney or you are considering who to name on your behalf, it is important to understand the terminology, the role and the responsibilities. The person who signs the POA is called the “principal” and the person to whom authori

Updating your estate plan after a divorce should be at the top of your must do list. Forbes’ recent article, “9 Things You Need To Know About Estate Planning After Divorce” suggests that, if your divorce was finalized in 2018, prior to the effective date of the new rules providing that alimony is no longer tax deductible, it’s time to revise your estate plan. It’s also good idea for those people who divorced in prior years and never updated their estate plans. Let’s look at s

Fox 5 NY says in the article “Why estate planning is important regardless of your age or wealth” that this is great time to begin talking to your loved ones about estate planning, especially older relatives and parents. The key to a successful discussion with your parents about estate planning depends upon the right approach. Try to always make suggestions, rather than demands. One great way to start the conversation with family members, is to mention what you’re doing. You m

If you’re concerned about family conflict after you pass away, you must have an estate plan to minimize that potential for conflict by making your wishes clear and legally documented. Unfortunately for families, most people (whether they are concerned about conflict or not) never get around to estate planning. In fact, research shows that about 60% of U.S. adults don’t have even a simple will. For those that do have a will, they often fail to recognize that not all of their p