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...
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...
Whenever we purchase a life insurance policy, open a mutual fund, or enroll in a company retirement plan, we are usually asked to designate a beneficiary. After naming these individuals, we never give it much thought again. Maybe you’ve named your spouse, one of your parents or your children. After your death, these assets are...
Aretha Franklin reportedly did not have a Will or Trust at the time of death. Aretha Franklin’s final wishes may not get the respect they deserve. It was reported in the news that legendary singer, Aretha Franklin, did not have a will or trust at the time of her passing. According to the Detroit Free...
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