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
Giving to charities through gifting and estate planning can provide may 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 transition isn’t […]
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. […]
Declare Independence From Probate
I wrote this blog back on Independence Day, but I wanted to share it with everyone. I Want You to Declare Independence From Probate I know it sounds like a stretch to compare our country’s independence to estate planning, but hear me out on this. In 1776, our colonial leaders decided they didn’t want government […]
Who Should Be Your Trustee?
And The One Thing You Should NEVER Do One of the most important estate planning items on your checklist is choosing the right trustees to handle things if you become incapacitated or pass on. But how do you go about choosing them? Should you pick an attorney? Your children? Your best friend? I go through […]
Will Bank Honor Pre-Arranged Payments After Death?
Pre-Arranged Payments – Simple Solution It seems like there should be a simple solution, but often the simplest solutions have the most complex ramifications and pitfalls. In this blog, I review two posts from Reddit about different options to make sure critical transfers or payments from an account will continue even after death. But can […]