Protect Your Family With an Estate Plan Overview In the event of incapacitation or death (God forbid), it is important that you have named who will control your health and finances and who will raise your children (if you’re a parent). If you don’t have an estate plan, your assets may be distributed through the…
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I am 25, single, no kids, just finished law school—meaning I have little to zero assets of my own, and recently began working for Neal Law Firm. With all of this in mind, it would seem pointless to have an estate plan, right? Wrong. The absolute best scenario—and one that I pray for—is that I…
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Now that the holidays have wound down and life is returning to normal, it’s time to get down to the business of those New Year’s resolutions. Most years it’s the same: have a better diet, exercise more, save more money and finally do your estate and financial planning. Getting your estate and financial plan in…
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What is a Power of Attorney? A Power of Attorney (“POA”) is a document someone signs (the “principal”) giving someone else (the “agent”) authority to do things the principal could have done if he or she was able. There are two types of Power of Attorneys that people think about. First is the Healthcare Power…
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This week is National Estate Planning Awareness Week 2013! In 2008, the National Associate of Estate Planners and Councils (NAEPC) worked with Congress to pass a resolution to proclaim the third week of October as National Estate Planning Awareness Week. The resolution stated “Many Americans are unaware that lack of estate planning and financial…
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There is a common misconception that estate planning is only for the wealthy so they can minimize their tax liabilities. While this is one part of estate planning, it is certainly not the only part. Even if someone isn’t wealthy or concerned about taxes, there are a number of important non-tax reasons why everyone should…
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Changes are coming as five million baby boomers are turning 65 every year for the next 15 years. Experts have predicted changes affecting the economy, housing, our social structure, recreational activities and health care services for an aging population that will continue to grow. And baby boomers have different expectations about their “golden years” than…
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Question: Someone told me I should have a power of attorney. I don’t know what that is. Do I need one? Answer: You should have a power of attorney. There are different types, but the basic concept of a power of attorney is you (the “principal) giving decision making authority to someone else you pick…
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Important Estate Planning Documents Everyone Should Have Estate planning can be complicated. Regardless of the size of your estate, you should consider adopting these five important estate planning documents: 1. Last Will and Testament Your Last Will and Testament is a critical document to every estate plan. Why? In most cases (except for trust-based plans,…
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Question: I don’t have a lot of money. Do I have an estate? Answer: Yes. Contrary to popular belief, you don’t have to be a millionaire to have an estate. When many people think of an estate, they picture a mansion on acres of land with lush gardens, stables, staff and everything else the ultra-wealthy…
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Question: What is an estate plan? Do I need an estate plan? Answer: When you know what an estate is, then it’s easy to understand estate planning. (If you’re unsure what an estate is, read my post about estates.) For the most part, estate planning is literally the planning for the transfer of one’s estate…
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One of the biggest questions that we receive is what one should do with their estate plan, after a divorce. Question: I got a divorce. I think my spouse was named in my estate plan. What should I do? Answer: If you don’t want your spouse to inherit any of your assets or be the…
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