Defining Your Goals Here is a great discussion about defining your goals when putting together your estate plan, as set forth in Keith’s book, “Introduction to Estate Planning – How to Protect and Pass on Your Legacy,” Bardolf & Company, 2017. Your Job is to Share your Concerns Good planning starts with identifying goals. Your…
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What a Will Does Not Do A simple Will is a bares bones simple estate planning tool that contains not much more than your wishes concerning transfers of property at your death. A simple Will cannot and is not meant to do everything for you. The following are some estate planning goals or priorities that go…
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Estate Planning Tips for Families with Disabled Beneficiaries I recently came across an article on WealthManagement.com that does a good job of setting forth planning tips for families who have a loved one with a disability, Click Here. The article is authored by Robert M. Freeman and Alexis R. Gruttadauria and was published on May 9, 2018. The authors…
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Discussing End-of-Life Arrangements With Your Loved Ones Understandably, most of us do not want to address the subject of death with our families. It is an uncomfortable, scary, and emotionally charged conversation, and it is normal to feel intimidated by it. This is, however, not a reason to avoid the discussion. Even if you are…
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Montana has adopted the Revised Uniform Fiduciary Access to Digital Assets Act In today’s world, the nature of holding our property and our methods of communication have changed dramatically. A generation ago, we delivered all of our mail by post, photos were kept in albums, documents in file cabinets, and money on deposit at the…
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Estate planning for military families With Memorial Day coming up, it is important to honor those that have served our country. This time is also a good opportunity for members of the military and their loved ones to consider their estate plan. Military families may face special estate-planning issues that others do not. This is…
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Questions & Answers When Looking for an Elder Law and Special Needs Planning Attorney May is national elder law month. Below is an excerpt from a guide published by the National Academy of Elder Law Attorneys (NAELA), of which I have been a member since 2003. What Is Elder Law and Special Needs Planning? It…
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Common Misconceptions about Living Trusts People often hear things about living trusts from friends, family members and the media, and just assume they are true without taking the time to check them out. Here are some common misconceptions—and the facts. 1. A living trust is expensive. A well-drafted living trust will have a higher initial cost than…
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The benefits of using an irrevocable asset protection trust for long-term care planning Last week we discussed the continuing rise in long-term care costs and how long-term care insurance may be able to help make long-term care more affordable. This week we’ll focus on the estate planning strategy that employs an irrevocable asset protection trust.…
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The cost of long-term care continues to rise Many people are shocked when they learn about the high cost of long-term care. Unfortunately, the cost will only get more expensive over time. A 2016 report by PricewaterhouseCoopers estimates that long-term care costs will more than double by 2047. So how expensive is long-term care? According…
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