When you think about an estate plan, if you do not know much about it, you may equate it to the execution of a simple will. This may seem like a straightforward task that you can complete at some point in the future, so there’s no hurry, right? Let’s examine that assumption. Procrastination Is Risky Business The majority of adults think this way because most Americans don’t have estate plans in place. Unfortunately, these people are putting their loved ones at risk, and they are also failing to … [Read more...] about The Building Blocks of a Basic Estate Plan
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Sowing Seeds of Change: Attorney Collins’ Journey Empowering Women in Philanthropy
At the dawn of the New Year, Attorney Collins and her husband embarked on a soul-stirring journey to the captivating and storied town of Santiago de Cuba. Set against the backdrop of this picturesque locale was one of Cuba's grandest and most celebrated jazz festivals, a spectacle that resonated deeply with the couple's appreciation for cultural richness and artistic brilliance. Yet amidst the allure of jazz and the vibrant tapestry of local talent, they visited a humble yet … [Read more...] about Sowing Seeds of Change: Attorney Collins’ Journey Empowering Women in Philanthropy
Honoring Heritage: Attorney Collins Explores the Kinsey Collection in Honor of Black History Month
Stepping into the Kinsey African American Art & History Collection, Attorney Collins was immediately struck by the profound journey behind this remarkable exhibition. The narrative of Bernard and Shirley Kinsey intricately intertwines with the rich tapestry of African American history, reflecting resilience, creativity, and the enduring spirit of a community. As Attorney Collins experienced the Kinsey African American Art & History Collection, she felt a surge of reverence for the … [Read more...] about Honoring Heritage: Attorney Collins Explores the Kinsey Collection in Honor of Black History Month
10 Vital Estate Planning Insights
Estate planning is a critical task that ensures your assets are managed and distributed as you wish after your death. It's a process that involves preparation, understanding, and, often, professional advice. Whether you're just starting or revising your plan, here are ten essential estate planning insights everyone should know about. 1.) Estate Planning Isn't Just for the Wealthy It's a common misconception that estate planning is only for the wealthy. In reality, everyone should have a plan … [Read more...] about 10 Vital Estate Planning Insights
As 2024 Approaches, Schedule an Estate Plan Review
As you count down the days to the New Year, your focus is likely on celebrations and resolutions. However, there’s another important activity that should make your end-of-year checklist: an estate plan review. Much like your annual physical or your yearly financial audit, an estate plan review is essential for your long-term well-being and that of your loved ones. The Significance of Annual Reevaluation Your estate plan isn’t static; it should evolve as your life does. Whether you've had … [Read more...] about As 2024 Approaches, Schedule an Estate Plan Review
Incentive Trust Benefits: Real-World Case Studies
Estate planning offers various tools to help you secure your family's future. One such tool, often overlooked, is the incentive trust. This type of trust can motivate your beneficiaries in unique and meaningful ways. In this blog, we’ll dive into the benefits of an incentive trust and explore some case studies that illustrate its utility. What Is an Incentive Trust? An incentive trust is a legal arrangement that provides financial benefits to its beneficiaries based on specific conditions. … [Read more...] about Incentive Trust Benefits: Real-World Case Studies
Yes, Millennials Need Estate Plans
A lot of people think that estate planning is something that you do not have to think about until you are a senior citizen. In fact, according to a survey that was conducted by Caring.com this year, 67 percent of adults do not have estate plans in place. Surprisingly, only 46 percent of individuals that are 55 years of age and older have wills or trusts, but the numbers are far worse for millennials. This is disturbing because estate planning is important for all responsible adults. Young … [Read more...] about Yes, Millennials Need Estate Plans
LGBTQ+ Estate Planning: Ensuring Your Legacy
Estate planning is an essential aspect of financial planning, allowing individuals to organize their assets and ensure their wishes are carried out after their passing. While it's often overlooked, LGBTQ+ estate planning is particularly crucial for members of this community due to unique legal and familial considerations. The Significance of Estate Planning for LGBTQ+ Individuals Estate planning for LGBTQ+ individuals is not just about distributing assets; it's about safeguarding their loved … [Read more...] about LGBTQ+ Estate Planning: Ensuring Your Legacy
Estate Planning Lessons from the Movies – Part I
It’s rare that a movie centers on an archaic estate planning issue, but that’s exactly what Martin Scorsese’s latest film does. Recently Killers of the Flower Moon was released in theaters to critical acclaim. That’s no surprise. The surprise is that the central conflict of the movie focuses on several Estate Planning issues and provides real-life lessons for all of us. Read on to learn more. … [Read more...] about Estate Planning Lessons from the Movies – Part I
What Happens When You Don’t Trust Your Trustee – Part II
Trusts have become ubiquitous parts of estate plans. Many Estate Plans use revocable trusts as the foundation for the plan while others include irrevocable trusts. Regardless of the planning reason, every trust needs a trustee. The grantor may name the beneficiary as trustee, or the grantor may name another individual or entity as trustee, creating a natural tension between the beneficiary and trustee. If the tension becomes too great, the beneficiary may seek to have the trustee removed. As … [Read more...] about What Happens When You Don’t Trust Your Trustee – Part II
