A resume is a snapshot of your experience, skill set, and education that provides prospective employers insight into who you are and how you will perform. Imagine not updating your resume for five, ten, or even fifteen years. Would it accurately reflect your...
If your life or the law has changed since you signed your last will and testament or trust agreement, you need to update your document. You can make updates to a revocable living trust by way of an amendment or a complete restatement of the trust agreement. An...
As we all know, life happens. There is really nothing we can do about it. However, some of the most common life events can have a dramatic effect on your estate plan. If you think your estate plan is like a slow cooker and you can set it and forget it, you and your...
A nonfungible token (NFT) is a unique digital code that represents a digital item such as art or music, as well as a growing number of physical items, that runs on the blockchain (a secure, decentralized, and cryptography-backed online ledger) and provides proof of...
There are so many things to think about when a loved one passes away. What to do with the prescription drugs (or other controlled substances) that are in your loved one’s medicine cabinet is not usually at the top of that list. Yet, to avoid running afoul of laws...
It is better to give than to receive. But if you give a gift above a certain amount, you might end up owing money to the Internal Revenue Service (IRS). The federal tax code has very specific rules about how much you are allowed to transfer to others each year—and...
When it comes to death and what to do with a deceased’s remains, most people think of only two options: burial or cremation. However, these options are not particularly environmentally friendly. Burial, which is arguably the worst option from an environmental...
What Is an Electronic Will? It was not very long ago that all legal documents were printed on paper and signed with a pen. But in today’s world, where we sign commercial contracts, form and run businesses, and buy everything from groceries to cars online, it seems...
Estate planning is about more than preparing for the inevitable. A good estate plan should also consider the unexpected. Your plan may have detailed instructions for what happens when you are no longer around, but what if something goes wrong while you are alive? If...
When creating a revocable living trust, you will most likely name yourself as the initial trustee so you can continue to manage your financial affairs. Eventually someone else will need to step in when you are no longer able to act due to incapacity or after your...
When using trusts in estate planning, a key element includes transferring the trustmaker’s real estate into the trust by recording a deed with the local recording authority. This step is crucial for ensuring that the trustee has the authority to manage and ultimately...
When estate planning for special needs there are quite a few terms you should be aware of, to understand the scope of work involved. Third-party special needs trusts sometimes referred to as supplemental needs trusts are estate planning tools for those parents of...
Whether you have a horse, dogs, cats, parrots, or even more exotic pets such as a snake or lizard, it is possible to provide for them after you are gone or no longer are capable of tending to their needs by creating a pet trust. A pet trust is a legal arrangement that...
At first thought, life insurance may not seem to have a bearing on how to dispose of your assets in your estate plan. However, life insurance can be an integral, indispensably important part of a well-thought-out estate plan. There are numerous other benefits to...
When considering your estate plan have you considered how taxes affect your estate? Some of the more commonwealth transfer strategies for estates may have significant impacts due to tax law change proposals on the precipice of being enacted into law. While it is too...
Do You Update Your Estate Plan as Often as Your Resume?June 22, 2022
