What’s in a Will?

Thinking about creating a Will, but not sure what that really means? The structure of an Estate Plan will vary from person to person, but a comprehensive Will should include the following documents: 1. Last Will and Testament 2. Financial Power of Attorney 3. Healthcare Directives A Comprehensive Estate Plan Your Last Will and Testament is a legal document that …

Outdated Estate Plans Lead To Nasty Surprises

Imagine a 90-year-old man named Jerry. He’s a sharp and thorough gentleman, so naturally, he locked down his estate plan years ago. His has it all — the will, the trusts, the healthcare directives, the powers of attorney, you name it. Attorneys, financial planners, and family members have all reviewed his documents, and they’ve approved. No stone is still unturned. …

Dean Smith Made Good Use of Revocable Trusts

In life, he made history as one of the winningest coaches in the history of college sports. In death, he’s making headlines for the unprecedented generosity in his estate plan. Dean Smith passed away as a legend, having coached the record-breaking UNC-Chapel Hill Tar Heels for many years. He scouted some of basketball’s biggest talents, including Michael Jordan. (Smith coached …

Robin Williams’ Family Battles Over His Estate Plan

When Robin Williams passed away, the media lauded his efforts to carefully provide for his family. And sure enough, it looks like he took a lot of precautions to head off the nasty family fights we often hear about in the wake of a celebrity’s death. View image | gettyimages.com Nevertheless, his heirs are in the middle of a heated …

The Biggest Estate Planning Mistakes

The Wall Street Journal pulled together a panel last month in order to tackle the biggest estate planning mistakes hampering everyday Americans. View image | gettyimages.com Indeed, one of the biggest mistakes is the belief among those everyday Americans that estate planning isn’t for them. It’s a message that our colleagues and we echo again and again: virtually everyone needs …

To Trust or Create a Trust?: Parents and the Inheritance Debate

People who happen to have family and fortune want to protect them both, but they often face a crisis of conscience: how much to leave the kids (and under which terms)? http://gty.im/6622-000023b We’ve all heard stories about children who turn out to be poor stewards of their deceased parents’ estates. So-called “trust fund babies” are notorious for squandering millions on …

Is Your Power of Attorney Dangerous?

The Dangers Of Power Of Attorneys Columbus Blue Jackets defenseman Jack Johnson granted power of attorney to his mother, Tina Johnson, giving her full control of his finances. Within a short period, Jack Johnson was forced to file for Chapter 11 bankruptcy and claims that his parents are responsible for helping to lead him “financially astray.” Look at this article …

Robin Williams: A Good Will Needs No Hunting

Robin Williams knew what he was doing. The comedy superstar left a hole in all our hearts when he tragically lost his life last month, and the world of entertainment still doesn’t feel quite the same without him. http://gty.im/183741067 But as painful as his loss was, there is at least a silver lining for his friends and family: Williams was …

Responsibilities Of A Personal Representative In Arizona

When you select someone as your Personal Representative, you’re asking a lot of that person. Many see the title as an honor — and it is certainly an important position — but it comes with a number of legal duties that shouldn’t be taken lightly. http://gty.im/175140073 During the life of the testator (that is, the person making the will), the …