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Probable… probably… PROBATE
“Probate” is a term that is mentioned quite a bit in the estate planning world. We’re always talking about the process of probate, the cost of probate, the list of “horribles” with probate, and how to avoid it. With all this talk of probate, a definition and description of the process seems in order. Probate is the […]
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Will You Outlive Your Money?
All of us know about saving for retirement, but how much do any of us know about spending during retirement? With fewer people receiving pensions, and more and more retirees using a combination of IRAs, 401(k)s, stock investments and real estate, your retirement income can begin to look like something even an economics expert would […]
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Estate Planning Advice From Shakespeare
“So long as men can breathe, or eyes can see, So long lives this, and this gives life to thee.” (Sonnet XVIII by William Shakespeare, b. Apr. 23, 1564, d. Apr. 23, 1616) People do some strange things with their Last Wills and Testaments, and Shakespeare was no exception. One item in William Shakespeare’s will, for […]
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Big Kudos for Small Businesses
“The entrepreneur is our visionary, the creator in each of us. We’re born with that quality and it defines our lives as we respond to what we see, hear, feel, and experience. . . The entrepreneur in us sees opportunities everywhere we look. . . “ – Michael Gerber, founder and chairman of E-Myth Worldwide The […]
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Estate Planning for the YouTube Generation
The internet has changed the way we live…and divorce. It started with video wills, and now Fox News just reported that Playwright Tricia Walsh-Smith is ranting about her divorce from the wealthy husband on YouTube. It is undeniable that technology and the internet have changed all areas of our lives, and the law is no […]
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6 Key Elements of a Health Care Directive
April 16th is National Healthcare Decisions Day, a day dedicated to “ensuring that all adults with decision-making capacity in the United States have the information and opportunity to communicate and document their healthcare decisions.” Our firm is in complete support of such a goal. In fact, we include a Health Care Directive as an important […]
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The Key Word in Your Estate Plan
What is the most important word in your estate plan? It is the key word that determines when your successor trustee takes over, when the agent nominated in your Healthcare Directive gets the authority to make health care decisions for you, and when your financial Power of Attorney goes into effect. That word is “incapacity”. With so […]
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Leaving a Legacy
I am not a baseball fan, but watch the games occasionally. April marks the opening of baseball season, the season of the great American past-time; a season when, every few years, an average Joe can step up to the plate and make himself a national hero. One of the most famous of those heroes is […]
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Passing on the Torch
Will your business still be in the family 400 years from now? The answer to that is “probably not”. Statistically, only 40% of family owned businesses survive to the second generation, 12% to the third, and 3% to the fourth. One reason for this might be lack of interest by subsequent generations, another might be […]
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Don’t Neglect the Small Stuff
The most frequent fights upon the passing of a parent are not about the money, but about the objects that have sentimental value; your mother’s wedding ring, the family bible that has been passed down for generations, or your grandmother’s quilt. These are objects that may have very little financial value, but are filled with meaning […]
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