Back to the Basics: How Do Assets Pass at the Death of the Owner?

Have you heard of a situation where a deceased person’s former spouse ended up receiving his life insurance or retirement savings, instead of the person’s new spouse or children? Have you heard of a situation where the deceased person wanted to have assets held in trust for her minor children after her death, under her [...]

Do You Need To Fully Fund Your Revocable Living Trust During Your Life? Separating Facts From Fiction (RLTs Part 2 / Updated February 2019)

This newsletter is the second part of a three part series on Revocable Living Trusts (RLTs). The first newsletter on this topic was entitled, “Should I Use a Will or a Revocable Living Trust? Separating Facts From Fiction.” The first newsletter was designed to help explain how to decide whether a Will or a Revocable [...]

Digital Assets and Estate Planning

When we talk to our clients about estate planning, we discuss the division of assets and who will be responsible for those assets. Increasingly, what to do with “digital assets” —Facebook, Twitter, Pinterest and other online accounts—is part of this conversation. So, beyond sorting through photos, jewelry, journals and heirlooms, we now need to consider [...]

2016-12-22T06:23:44-05:00March 6th, 2015|Blog, Probate & Administration|

Burial vs. Cremation: Personal preferences ranging from simplicity of “green burials” to the traditional to the extravagant

As part of our estate planning process, one of the topics we cover with clients is their preferences regarding being buried or cremated upon their passing, as well as any strong preferences as to pre-planning, location and any special requests or stipulations. Over our many years in this profession, we have seen a trend from [...]

2016-12-22T06:23:46-05:00October 8th, 2014|Blog, Probate & Administration|

Basic Estate Planning Topics: What Is a Self-Proving Affidavit, and Why Does My Will Need One?

In a previous newsletter, we went back to basics and discussed the question of “What is a Trust?” For this issue, we’d like to look at another very basic estate planning concept: the self-proving affidavit. To begin our discussion of this topic, we will first provide you with some background information about what must happen [...]

Importance of Proper Asset Ownership and Beneficiary Designations

This installment of the Passionate Estate Planner is a reminder that a well done estate plan includes not only properly prepared legal documents, but also the need to properly own your assets and have proper beneficiary designations. It is of key importance that assets are owned and beneficiary designations are handled properly now and periodically [...]

Corporate Fiduciaries for Estates & Trusts: Reliability, Prudence, Reasonableness, Protection and Peace of Mind

Choosing the fiduciaries to carry out your estate plan can be the most important decisions you make in structuring your estate plan.   Why is this issue so important?   We start with the premise that most clients will want to maximize flexibility and minimize costs and hassles unless a reason exists to be more restrictive.  With [...]

Long-Term Trust-Based Planning Makes Focusing on Intent More Important

What is your true estate planning intent? Let this question sink in for a moment, then think about it again: What is your true estate planning intent? How do you want your loved ones to benefit from the assets you leave behind? Would you like to provide a safety net or a source of support? [...]

Fiduciary Selection: A Critical Part of Any Well-Prepared Estate Plan

by Richard M. Morgan & Loraine M. DiSalvo In the estate planning context, a “fiduciary” is someone who will serve in a role of authority with regard to you, your assets, or your minor children. Fiduciary roles which may be part of an estate plan can include an Executor, a Trustee, a Guardian and/or Conservator, [...]

Planning – Especially Important for Business Owners

Many business owners spend the bulk of their time working to build their businesses. Sadly, too many business owners also fail to spend much, if any, time planning for their own futures or the futures of their businesses. Proper and careful planning can help ensure that a business runs smoothly, produces maximum value for its [...]