Gifting money, property, or other assets to family members, loved ones, and even charities is a wonderful way to share wealth and provide assistance. Making gifts while you are still alive is an excellent way to create memories rather than leaving everything to be distributed through an estate after death. Watching a grandchild complete college because you helped cover tuition or assisting an adult child in purchasing a first home can be deeply rewarding. You may, however, prefer to gift some … [Read more...] about 8 Mistakes People Make When Making Gifts in Their New Hampshire Estate Plan
“Let’s Go Crazy” … Over Prince’s Estate
When Prince died over nine (9) years ago, he shocked his fans one last time. Turns out, his unexpected death wasn’t the last surprise. Prince died without an Estate Plan causing his siblings to spend the next six years fighting over his Estate. Continue reading to learn more. … [Read more...] about “Let’s Go Crazy” … Over Prince’s Estate
Hulk Hogan and Disclaimers…?
When Terry Bollea, aka “Hulk Hogan,” died on July 24 at age 71 in his Clearwater, Florida home, I wondered if I’d have another celebrity estate gone awry to discuss. I found something different but equally important for Estate Planning practitioners: disclaimers. Continue reading to learn more. … [Read more...] about Hulk Hogan and Disclaimers…?
National Make-a-Will Month
Although many Estate Plans have a Revocable Trust as the foundation for the plan, Wills play an important role in a comprehensive Estate Plan. Alarmingly, most Americans don’t have a Will even though they know it’s important. As National Make a Will month comes to a close, let’s explore the often overlooked and neglected Estate Planning document, the Will. Continue reading to learn more. … [Read more...] about National Make-a-Will Month
In Loving Memory of All the Pets Who Have Crossed the Rainbow Bridge
The grief of putting my dog down got me wondering about how animals process grief and how much harder it may be for them since they lack the ability to put their feelings into words the way that humans can. Thus, the idea for this blog focusing on options for pets upon the death of their owners was born. Read on to learn more. … [Read more...] about In Loving Memory of All the Pets Who Have Crossed the Rainbow Bridge
The Big Lesson from Tony Bennett’s Embattled Estate and Troubled Trust
When one child occupies a position of trust with a parent to the exclusion of other siblings, that causes friction. Extending that position of power after death exacerbates that friction and may cause irreparable harm. It seems that happened upon the death of beloved singer, Tony Bennett. His daughters have sued their brother on two different occasions leveling some unflattering allegations. Read on to learn more. … [Read more...] about The Big Lesson from Tony Bennett’s Embattled Estate and Troubled Trust
A Hole in Hackman’s Plan
Eugene Allen Hackman enjoyed a prolific acting career that spanned several decades. In a bizarre sequence of events, seemingly ripped from a movie script, his death raised questions and exposed some flaws in both his end-of-life planning and his Estate Plan. Gene’s final act didn’t result in a happy ending, but rather a tragic tale full of warnings to those who care to listen. Read on to learn more. … [Read more...] about A Hole in Hackman’s Plan
Are Irrevocable Trusts Really Irrevocable – Part I
For many years Estate Planning attorneys touted irrevocable trusts as an immutable way to set an estate plan in stone. As more and more states have adopted the Uniform Trust Code that has changed. Provisions of the Uniform Trust Code allow for modification of an otherwise irrevocable trust which has altered the landscape of Estate Planning. Irrevocable Trusts have long been an effective, albeit static, estate planning tool, with the ability to alter irrevocable trusts, they provide more … [Read more...] about Are Irrevocable Trusts Really Irrevocable – Part I
Understanding UTMA Accounts and Their Role in Estate Planning
When gifting assets to a minor, certain legal restrictions must be considered because minors cannot directly own property or financial assets. A responsible adult must oversee and manage the assets until the child reaches adulthood. One approach is to establish a trust, but another widely used option is to create a custodial account under the Uniform Transfers to Minors Act (UTMA). The attorneys at Legacy Care Law Firm explain what a UTMA account is, how it functions, and how it compares to … [Read more...] about Understanding UTMA Accounts and Their Role in Estate Planning
Celebrate National Love Your Pet Day by Incorporating Pet Planning into Your Estate Plan
National Love Your Pet Day, celebrated on February 20th, is the perfect occasion to reflect on the love and care we provide for our furry, feathered, or scaly friends. For many people, pets are cherished members of the family, offering unconditional love, companionship, and joy. If you are one of them, have you considered what would happen to your beloved pet if you were no longer able to care for them? Incorporating pet planning into your estate plan ensures that your pet continues to receive … [Read more...] about Celebrate National Love Your Pet Day by Incorporating Pet Planning into Your Estate Plan
