The legacy of love blog

Remember, Estate Planning isn’t just for old people

A near-universal assumption seems to be that estate planning is only necessary if you’re old and / or wealthy.  You’re young, still working for a living, and have a long way to go before you need to think about the distribution of your assets, right?

Hopefully that will turn out to be the case, but the reality is that we can’t see the future. Something could happen tomorrow that hampers our ability to make medical decisions or even manage our assets. Younger people also...

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What your will can and cannot do, Part 2: The Limitations

Although your will is an important estate planning document, there are certain tasks and directives that it cannot accomplish. Understanding these limitations is essential to determining whether you require additional estate plans to ensure that your assets—as well as those you love—are protected in the future.

You cannot create a Personal Directive

A Personal Directive, otherwise known as a Living Will, is a legal document that provides a designated agent with the authority to...

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What your Will can and cannot do, Part 1: The capabilities

wills Dec 05, 2016

An up-to-date will is a key part of any effective estate plan. It accomplishes several important goals, foremost of which is allowing you to specify how your estate will be distributed after you pass away and naming a guardian for any minor children who survive you. A will also prevents the time and expense of litigating your estate, protecting the inheritances of your loved ones and preventing a dispute from fracturing the family.

You can choose your Beneficiaries

A properly drawn-up will...

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Understanding the dangers of the DIY estate

estate planning Dec 01, 2016

Your estate plan always has an impact on your family’s future. When the time comes to write your will, an estate planning lawyer can help you avoid a wide range of financial hazards. If you decide to go it alone, you leave your family vulnerable to a number of serious financial, legal, and emotional difficulties. Take a look at these common dangers of the DIY estate, as well as the various consequences associated with them.

Danger #1: Underestimating your need for an estate plan

One of...

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