Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys When Sopranos star James Gandolfini died unexpectedly at the young age of 51, his estate plan sparked a media firestorm. Experts have scrutinized and criticized his plan, and news reports have covered its details. What led to this flurry of attention? The fact that he left behind a Will, which made his estate planning choices public record. What can we learn from James Gandolfini’s Will? … [Read more...] about James Gandolfini’s Will: 3 Lessons for You and Yours

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys It is an honor to be named the successor Trustee of a loved one’s Trust. As the name implies, you’ve been given a position of trust and responsibility, and it means that your loved one thinks highly of your skill and ability, not to mention your integrity. So, what does a successor Trustee do? Normally, the person who creates a Trust serves as the initial Trustee. Your job as the successor … [Read more...] about I’m a Trustee! Now What?

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys Your bags are packed, the reservations have been made, and the kids are looking forward to spending a week at grandma’s house…you and your spouse are ready for a summer getaway. But before you leave for the airport, ask yourself if there’s one plan you might have overlooked: your estate plan. Without proper estate planning, a vacation mishap could spell disaster for you and those you leave at … [Read more...] about An Estate Plan: Don’t Leave Home Without it

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys You might not realize it, but you already have an estate plan. Even if you’ve  never created a Will, never set foot inside an estate planning attorney’s office, and never given estate planning a second thought. Here’s why: each state provides every citizen with a default estate plan. This estate plan comes in the form of intestacy law – a set of basic, one-size-fits-all rules for what happens to property … [Read more...] about Estate Planning is Essential for Same-Sex Couples

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys Ask the parent of an eighteen-year-old whether their child is an adult, and you’re likely to get a wry smile. Eighteen-year-olds like to think of themselves as adults, but parents tend to look at their young adult offspring and see… teenagers. Legally speaking, however, your child’s eighteenth birthday is a huge milestone. This is when your child reaches the age of majority in most states, and … [Read more...] about Eighteen: The Magic Number?

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys If you have a pet, you know firsthand the bond that can develop between humans and animals. Many of us consider our pets part of the family. But have you considered what would happen to your furry or feathered companion if something were to happen to you? Over 500k pets are abandoned each year due to the death or disability of their owner. These pets could have been protected with just a little … [Read more...] about How a Pet Trust Can Protect Your Furry Friends

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys Irrevocable trusts are a common estate planning tool, and they provide valuable benefits in a variety of planning situations. For example, irrevocable trusts can be used: To transfer assets to a beneficiary, while restricting the circumstances under which that person can access the trust property. To make property available for a beneficiary to use, while shielding the property from the … [Read more...] about Is an Irrevocable Life Insurance Trust Right for You?

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys There is a common misconception that as long as you’re healthy, there’s not much need to think about who would make medical decisions on your behalf, should you be unable to make them. When you are healthy, you discuss your health care concerns with your doctor and are able to express your own wishes. But who would voice your decisions in the event of an illness or accident? Imagine you were … [Read more...] about Protect Your Right to Make Medical Decisions

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys www.aaepa.com Your first meeting with an estate planning attorney may seem a little daunting, especially if you’ve never consulted an attorney before. There’s no need to worry, however. This meeting is just a conversation in which your attorney will find out about you, your family, and your goals. After you’ve shared this information, your attorney will be able to recommend a range of estate … [Read more...] about What to Expect at Your First Estate Planning Consultation

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys Not long ago, wives were “silent partners” when it came to estate planning. Husbands were the ones in charge of long-term planning and major financial decisions. In fact, estate planning attorneys often advised wealthy men to leave their assets in trust for their wives, so that a trustee other than their wife could manage and preserve the family fortune. It was assumed that a widow would not have … [Read more...] about Five Things Every Woman Should Know About Estate Planning