When should I start planning for marriage?
Planning your life legally and strategically includes planning for marriage well ahead of time. This intro to a chapter in “The Divorce Firewall Strategy” book shows it’s never too early to plan. The book The Divorce Firewall Strategy was written to help people plan ahead for marriage and avoid potential problems in the event of divorce to […]
Why Prenups Blow Up: Seven Ways Premarital Agreements Fail
Prenups “Prenups don’t work!” the YouTuber practically screamed into the microphone, lamenting the downfall of men everywhere whose fortunes were being stolen from their gold-digging exes. [Insert eyeroll here.] “A man works for years, decides to marry a woman, and insists on a prenup. They sign one, and then she leaves taking half his stuff […]
How Much Does Probate Cost?
Probate Probate costs a lot. When given the statistics, my clients are usually appalled that their estates going through the probate court system would cost so much. On average, the probate court system will eat up about 4-10% of an estate. Many states allow a standard 5% fee for an executor or administrator, but in […]
The Bank Won’t Honor The Power of Attorney!
Unfortunately, there is a trend of banks and other financial institutions refusing to honor Powers of Attorney because they are not on the institution’s forms. This can cause a variety of complications if discovered after someone is incapacitated. But how can they do that? This video, recorded in Wyoming while there attending The Estate Planning […]
In-Law Risks
Depending on your family situation, there may be a son-in-law or daughter-in-law you just don’t trust. But what risks need to be addressed when planning an estate? In this outtake from a recent conference Jeff taught at, The Estate Planning Source’s Advanced Institute, he examines the types of risk most on his client’s minds. Protect […]
The Medicaid Squeeze Can Be Reversed
The Medicaid Squeeze The intricate maze of Medicaid Planning confuses even seasoned professionals if they don’t focus on this type of planning in their daily practice, and it’s easy to find differing opinions. Accountants cringe when told to liquidate an IRA because they’re used to minimizing taxes. Bankers gasp when told to liquidate or just […]
Charity Minefields in Estate Planning
Charity Giving Giving to charities through gifting and estate planning can provide many rewards, and not just a good feeling knowing you are helping others. There are plenty of tax breaks that can come along with being charitable. However, there are also several minefields that can unintentionally hurt you and your loved ones if the […]
Unnecessary Trust Provisions
And One BIG Reason to Keep Them Anyway “But this doesn’t apply to us!” It’s common enough to see lots of language in trusts and other legal documents that are ‘boilerplate’ that should stay in anyway. In this blog, I review some of the most commonly questioned provisions and why they should be kept anyway, […]
I’m Moving Out of State… Is My Trust Still Good?
I’m Moving Out Of State “Is my trust still good?” I get this question all the time when clients move to my state of North Carolina, or when my clients are moving to other states. The question really is “Do I need to update my estate plan?” In this video, I cover the checklist process […]
Should A Law Firm Be Your Trustee?
This is actually a question that came up in a Reddit Format, so we’re going to go ahead and go through the question and some of the comments. Executor and Alternate Trustee – “We’re working with a law firm to create a living trust. We are having a hard time choosing an executor and alternate trustee. […]