At Generations Law Group, we hear the question, “Why not create my estate plan online?” frequently, especially from our younger Generations. Unfortunately, when you do your estate planning online, you get what you pay for (or maybe didn’t even pay for). Your estate plan can and should do many things for you, such as save...
You have been a devoted daughter taking care of your father. You managed his finances, checked in on him regularly, and arranged for in-home services to make sure he was well taken care of during his last years. He said many times that he wanted everything to go to you and your sibling when he...
Creating a Will requires many important decisions. One of the most significant is naming a Personal Representative (PR) to manage and settle your estate after you pass. The responsibilities of a PR (sometime referred to as an Executor or Executrix) are significant, including making decisions about how your assets are managed and distributed to your...
In estate planning, it can be very confusing understanding the terminology that is used to describe the important fiduciary roles. Have you heard the term personal representative? How’s that different from a Trustee? And what is the difference between a Guardian and Conservator? Here is a quick review of the labels or terms you should...
When parents create their estate plan, one of the decisions that must be made is how to divide their estate among their children. For some, the answer is simple – every child gets an equal share; for others the situation is more complicated and leaving equal shares is not the desired choice. Sometimes the relationship...
If you recently signed revocable trust documents, Congratulations! Establishing the building blocks of your estate plan is an important first step in creating peace of mind for you and your loved ones. One of the main benefits of a revocable trust is the ease of administration for your loved ones and avoidance of the need...
As more seniors are struggling financially, an increasing concern those who are or will be managing their parent’s estate have is “Am I going to be responsible for my parent’s debt?” Credit card debts and medical expenses can often overwhelm a family’s finances. The last thing a parent wants is to pass their debts onto...
A Last Will and Testament (Will) and Revocable Living Trust (Living Trust) are both estate planning documents used to pass assets on to your beneficiaries at your death. Typically, for an estate planning attorney to create a proper Living Trust, the cost is more than to prepare a Will. When debating whether you should utilize...
It is undeniable that we are a digital economy. According to Pew Research Center, approximately 87% of our population uses the internet. This means that an overwhelming majority of Americans are relying on electronic networks for regular methods of communication, organization and life management. We use our on-line life for so many things: family photos...
Last week I had an opportunity to sit with a new client who said it had been several years since he had reviewed his estate plan. During that time he had lost his wife and one of his children had married and had a child. As part of our review process, we look at his...
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