Estate Planning – LWP Marketing Toolit

Navigating the Intersection of Elder Law, Estate Planning, and Financial Security

SM_Admin — Wed, 09 Oct 2024 16:01:30 +0000

As we journey through life, we accumulate experiences, wisdom, and assets that shape our legacy. For many Americans, the golden years of retirement represent a time of reflection, relaxation, and enjoyment of the fruits of their labor. However, this stage of life also brings with it unique challenges and considerations, particularly in the realms of elder law, estate planning, and financial security.

Moving Out of State? You May Need to Revise Your Estate Plan

SM_Admin — Tue, 21 Dec 2021 21:17:59 +0000

Approximately 3 million Americans move to another state each year, while last year alone the number was 4.7 million. Given the stress and myriad changes that come with such a move, it’s not surprising that many people forget to review their estate plans.

The Risks of Giving Adult Children an “Advance” on Their Inheritance

SM_Admin — Tue, 21 Dec 2021 21:15:49 +0000

There are many reasons you might consider giving your adult children a portion of their inheritance now, while you’re alive and well. Maybe you’ve seen your nest egg grow thanks to a robust stock market, and you have more in savings than you thought you would at this stage of your life.

Yes, Even Millennials Should Have an Estate Plan

SM_Admin — Fri, 22 Oct 2021 19:14:37 +0000

Many people believe that estate planning is only for elders. The truth is that younger folks, including millennials, can benefit from having an estate plan of their own.

What Will Happen to Your Digital Estate When You Pass Away?

SM_Admin — Fri, 22 Oct 2021 19:13:10 +0000

Even if you are not tech savvy, you likely have a digital “estate” comprised of assets with financial and sentimental value. You probably also have plenty of personal information floating around out there in the digital universe. To protect these assets, and to ensure you don’t leave behind a massive digital mess for your loved ones to clean up, you should organize your online accounts and make sure they can be accessed by your loved ones if you become incapacitated and after you pass away.

The Objectives and Benefits of a Spendthrift Trust

SM_Admin — Fri, 22 Oct 2021 19:10:57 +0000

A spendthrift trust is typically used to prevent a beneficiary from receiving his or her inheritance all at once. There are several reasons why a grantor (the person who creates the trust) might want to consider such an approach. The most obvious reason is that the grantor believes the beneficiary will quickly squander the inheritance. That is, the beneficiary is a spendthrift.

If Your Children Have Turned 18, They Need Their Own Legal Documents

SM_Admin — Tue, 31 Aug 2021 13:47:02 +0000

When your children turn 18 they are legal adults. They might not act like adults all of the time, and you may still be supporting them financially, but in the eyes of the law they are indeed adults. This means that you can no longer make certain decisions for them, including health care decisions. Furthermore, you can no longer obtain medical information about your adult children without their authorization—even in an emergency.

What’s Not to Like About an I Love You Will? Plenty.

SM_Admin — Tue, 31 Aug 2021 13:43:57 +0000

An “I Love You Will” is a last will and testament in which the testator—the person who makes the will—leaves everything to his or her spouse. If you have thought about making a will in the past, you likely considered this approach. Perhaps you have already created such a will.

Tips for a Successful Family Business Succession

SM_Admin — Mon, 21 Jun 2021 16:14:22 +0000

Fewer than one-third of family businesses survive into the second generation, while only 13 percent make it to the third generation. Here are some tips to beat the odds and help your business live on for generations to come.

Estate Planning for Second Marriages

SM_Admin — Mon, 21 Jun 2021 16:05:10 +0000

Second marriages can present unique challenges when it comes to estate planning, particularly if you or your new spouse have children from previous marriages. Let’s take a look at some of the factors, tools, and strategies to consider when planning for a second marriage.