estate plan When many people think about estate plans, they ask themselves, do I need one? Are they only for the old or the rich? However, it is important for you to know that everyone needs an estate plan. Estate plans are written into the law, and under this state...
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Estate Planning
Have You Looked At Your Estate Plan Lately?
I am often asked, how often do I need to update my estate plan? This may seem like a simple question, but the answer is actually pretty complex. The reason is that no two people are exactly alike, and there are many reasons why an estate plan needs updating. Why do...
Funding: The Principal Residence Exemption and Limited Partnerships
Funding your trust or estate plan can easily be forgotten. In fact, it often is, but what about when the funding causes other problems? Funding is the process where you implement your estate. You transfer assets into a trust or business entity. Or it could be the...
Estate Planning Mistakes: Bank Accounts
Adding your kid’s names to bank accounts is a pet peeve of mine. A lot of times I get asked – why? My answer is always that it makes a mess of something that doesn’t need to be a mess. A financial power of attorney does everything that putting your child’s name on...
Estate Planning for New Parents
As new parents, you naturally want to ensure your new baby’s future in every way. For many new parents, infancy is a time for celebrating new life, and making a will is the last thing on their minds. For others, the process of bringing new life into the world sparks...
More Than Your Normal Estate Plan
What is in your plan? When you think of estate planning you usually think of death and how your property is divided. But there is more to it than just putting together documents. At Dafoe Law, we look at the big picture and take little steps to help make everything...
Fiduciary: Who do you Trust
Fiduciary: How to Pick your a Trustee, Executor, and Agent Under a Power of Attorney While the term fiduciary is a legal term with a long history, it very generally means someone who is legally obligated to act in another person’s best interests. Trustees, personal...
Why Your Estate Planning Project Must Morph into a Process
Many people put their estate plan on their to-do list as a one-time project: “Create estate plan” or “Meeting with lawyer 10:30 a.m. Thursday for estate plan.” Your estate planning attorney should help you think of it as more. Thinking of your estate plan as a single...
Got Stuff? George Carlin Says You Need An Estate Plan!
Stuff George Carlin would have been a great pitchman for estate planning. You may remember his stand-up routine on “stuff.” We all have stuff, and we’re pretty particular about our stuff. We move it around with us, it’s hard for some of us to get rid of it, and some...
Elder Law – Life Care Planning: An Introduction
Medicaid planning is part of elder law, but often is something that is only thought of during a crisis. Life Care Planning is more holistic. It focus on the elder’s quality of life. It starts before you have a crisis. Life Care Planning assists elders in receiving the...