Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys Every time you turn on the news, it seems like there is a new scam making headlines. By now, we’re all familiar with Bernie Madoff and his infamous Ponzi scheme. Many people have also heard about the “grandparent scam.” In this swindle, the scammer calls posing as the victim’s grandchild, claiming to be traveling in a foreign country and in distress. The scammer convinces the victim to wire them money. … [Read more...] about How to Avoid an Estate Planning Scam

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys There is no question that a Living Trust allows you to avoid probate – if, of course, the Trust is properly drafted and funded. But does this mean a Living Trust is more cost-effective than a Will? Some people say that a Living Trust offers no net savings over a Will. In their opinion, the cost of preparing a Living Trust plus the cost of Trust Administration at death, equals or exceeds the costs of … [Read more...] about Which Costs More: Probate or Trust Administration?

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys Although considering the event of one’s own death can be uncomfortable, it’s imperative to start planning ahead and set up an estate plan that will guarantee security for your loved ones. Meeting with a qualified estate planning attorney will ensure you’re informed about the choices available to you, and help relieve some stress knowing your affairs will be in order after your death. For some, this … [Read more...] about Common Estate Planning Terms You’ll Want To Know

Estate Planning and Happily Ever After Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys You may have overheard a former classmate at a high school reunion say, “You haven’t changed a bit!” But if you really want to see how much you’ve changed, just take a look through your high school yearbooks. Odds are, any mention of the future from those who signed your yearbook during that rite of passage were probably made by 18 year olds who, like their … [Read more...] about Estate Planning and Happily Ever After

Picking up the Pieces After Divorce Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys Consider all the planning a couple may do during the course of their lives: purchasing a home, building a business, starting a family – the list is endless. However, no one plans for a break-up. So what happens when there’s no longer a “happily ever after?” What will our finances, our emotions and even our future look like on the other side of divorce? Not only must … [Read more...] about Picking up the Pieces After Divorce

Written By: The American Academy of Estate Planning Attorneys When it comes to estate planning, Ted and Emily thought they were ahead of the game. They went to their attorney for help with estate planning and created a Trust to protect their assets. They are in company with about only 21 percent of Americans who also have a Trust. After their lawyer prepared documents, they signed or “executed” their revocable Trust, and both a property and health care power of attorney. They … [Read more...] about Funding: What Should Ted and Emily Have Done

Written By: The American Academy of Estate Planning Attorneys John Steinbeck once said, “Socialism never took root in America because the poor see themselves not as an exploited proletariat but as temporarily embarrassed millionaires.” One of the great things about the U.S. is that anyone really can become a millionaire, or at least amass a significant amount of money and assets over the course of their life.  The Los Angeles Times reported that there were more millionaires in the U.S. in 2013 … [Read more...] about Surprise! You May Be a Millionaire

Written By: The American Academy of Estate Planning Attorneys The end of the holiday season can sometimes bring families both sadness and relief. While the holidays are a time when loved ones get together to enjoy each other’s company, holiday stress can certainly lead to trivial arguments and miscommunications. Imagine the disagreements that can arise if something more serious were to happen like leaving your loved ones behind to divide up property if you didn’t plan properly. A dispute over … [Read more...] about Family Feud – Don’t Let This Be Your Legacy

Planning for Adoption Written By: The American Academy of Estate Planning Attorneys In 2013, a Florida court set aside an adoption in a case called Goodman v. Goodman. There was no upset child or devastated parents in this case, because Mr. Goodman adopted his adult girlfriend. Mr. Goodman and his ex-wife had created an Irrevocable Trust for their shared children, but the couple subsequently divorced. Mr. Goodman decided to adopt his girlfriend so she would become a beneficiary of the Trust and … [Read more...] about Planning for Adoption

Written By: The American Academy of Estate Planning Attorneys As the year draws to an end and the New Year quickly approaches, now is the time to think about resolutions and look towards the future. One New Year’s resolution you should consider this year is to think very long term. Instead of just planning for how you can improve life in the upcoming year, the dawn of a new year is the perfect time to create a concrete plan to take care of your family after you are gone. Here are some … [Read more...] about Decisions, Decisions, Decisions