Estate Planning 29 - Personal Family Lawyer

Subject: Receiving an Inheritance One Day? Here’s What to Do Now.

February 21, 2014

Baby boomers are set to inherit up to $8.4 trillion over the next 15 years, according to The Center for Retirement Research at Boston College. A recent New York Times article explored the complicated issues that these inheritances can bring, including transferring the emotional attachment you had to your parents to what they have left…

February 12, 2014

Paul Walker, who starred in the Fast & Furious movie franchise, died tragically in a high speed car accident in Los Angeles last November at the age of 40. His estate was opened at the end of January in the Superior Court of California, County of Santa Barbara probate court, revealing that he left assets…

February 7, 2014

If you have been responsible enough to purchase a life insurance policy as added protection for your loved ones, then you will want to carry that responsible action a little further by protecting that important payout from taxation. If you are married and have named your spouse as the beneficiary of your life insurance policy,…

January 22, 2014

If you have minor children and have not yet selected a guardian, you are not unlike many parents who put off this critically important task while waiting for the perfect solution to present itself. Or perhaps you and your spouse/partner cannot agree on who would be the ideal guardian for your kids. Here is your…

January 15, 2014

Asset protection is not something most people think too deeply about. Most of us are busy trying to accumulate assets to give considered thought to consider the importance of protecting what we have. A recent article on The Motley Fool investment website notes that there are a number of things that can harm an investor…

January 8, 2014

If you are fortunate enough to have a family vacation home, you know the emotional value it holds for every member of your family. Many cherished family memories are rooted in a special place, which makes it important for current and future generations to preserve it properly. A recent Wall Street Journal article explored the…

January 1, 2014

Your estate is made up of everything you own, which includes your personal possessions as well as your home, a car, bank accounts, insurance, furniture and more. But your wealth is much more than just your financial assets. It includes your purposes, passions, family values, memories and stories that make up your personal legacy. The…

December 25, 2013

When you look around your holiday table this year, you will probably not be thinking about the beneficiary designations on your 401(k), IRAs or life insurance policies. But perhaps you should. Having the wrong beneficiary designated on these and other things like bank accounts, annuities and 529 college savings plans is probably one of the…

December 18, 2013

A recent Wall Street Journal article noted that boomers and seniors are more interested in passing along family heirlooms and history, leaving a legacy for future generations that extends beyond money. Citing a 2012 survey by Allianz Life Insurance that found 86% of boomers and 74% of Americans aged 72+ said keeping family history alive…

December 4, 2013

If you have not revisited your estate plan this year following the changes made to the estate and gift tax laws by the American Taxpayer Relief Act of 2012 passed by Congress on Jan. 1, 2013, ask yourself these 10 questions then schedule a meeting with your Personal Family Lawyer®: Should your estate plan be…

Include Your Intellectual Property in Your Estate Plan

You don’t have to be a famous producer or household name to own intellectual property. If you create music, own a business, write stories, or build gadgets in your garage, you almost certainly have intellectual property. However, because intellectual property…

Help Your Parents Avoid These New Financial Scams – Part 2

In part one of this series, we explored two popular scams that are targeting older adults this year: the grandparent scam, and cryptocurrency pickpocketing. In this week’s blog, I’m sharing two more scams that you and your parents need to…

Help Your Parents Avoid These New Financial Scams – Part 1

Fraudsters and scam artists are nothing new, but changing tools and technology are making it easier than ever for scammers to target their victims, especially seniors. To protect your aging parents (or yourself) from these con artists, it’s crucial to…