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Estate Plan Documents: Where are they?

Imagine your loved ones not being able to locate the documents you had prepared to administer your estate? A stressful time just became more challenging. One of the most important things about your estate plan and associated documents is remembering where they are. Keeping Track There are three important questions to ask yourself. First, where […]

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Where are your important papers?

 Do you keep your documents in one spot and is everything up-to-date? These documents need updating; passports, estate planning papers, insurance policies, financial records, property deeds, and passwords, to name a few. Choose a day to review your documents. Do you have a new address or beneficiary to add to a life insurance policy? Want […]

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What About Crowdfunding?

Many people have ideas for a new business, but get discouraged by the financial requirements to make their idea a reality. Banks have become increasingly leery of new businesses. Due to increased regulatory oversight, securing a commercial loan for a startup is challenging at best. When a bank is willing to make a loan to […]

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When to Tell “What’s in the Will?”

Most parents are reluctant to discuss with their adult children what’s in their estate plan. For some it’s a reminder of our mortality, others are concerned it may create bickering about who is getting what. However, there can be significant advantages in an open discussion. One advantage is it can allow children to plan their […]

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“Lady Bird” or Beneficiary Deeds

Most clients seek to avoid having their assets at death pass through the supervision of probate court. They are concerned about fees imposed by the court, attorney’s fees and delays in distribution of assets. Fortunately, most of these concerns are exaggerated or unrealistic, but irregardless a direct transfer of assets on death is often the […]

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Powers of Attorney – Will They Work?

A recent New York Times article was titled, “Power of Attorney is Not Always a Solution.” It related the story of a woman who was given a power of attorney by her brother who was later afflicted by dementia. When she tried to use the power of attorney, banks were reluctant to accept her power […]

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Successor Trustee

SUCCESSOR TRUSTEE Many clients wonder who should be selected as their successor trustee, or if they have a will, the personal representative. The following assumes there is no person who is an appropriate choice and therefore they will be looking for a corporate trustee, typically a bank trust department. When looking for a corporate trustee, […]

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Prenuptials and Estate Planning

PRENUPTIALS AND ESTATE PLANNING Prenuptial agreements are often considered in the context of a potential divorce. However, they should also be considered as part of an estate plan. Prenuptials typically cover three areas: protection of separate property, division of property and inheritance rights. A prenuptial can protect pre-marital or inherited assets from becoming mixed with […]

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Home Mortgage Relief

Usually if something seems too good to be true, it is. However, under a new Streamlined Modification Initiative, announced by the Federal Housing Finance Agency, mortgage service officers are required to offer borrowers who are 3 to 24 months delinquent a plan to avoid foreclosure. Notice of eligibility will be coming by mail, so if […]

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Prenuptial Agreements: What You Need to Know

Anyone with substantial assets or income considering a second (or sometimes first or third) marriage should give careful thought to entering a prenuptial agreement. A prenuptial agreement can help preserve assets and/or income for children from a previous marriage or simply allow someone to preserve their accumulated assets. The agreement in its simplest form provides […]

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