Again, if you do not have a valid estate plan, the state has one for you. It will move the assets by bloodline, and it may go to people you don’t know or have never met. There is a strong reason greed is one of the seven deadly sins. Greed brings out the worst in... [Read More]
Category: Estate Planning
Avoid Bushwacks
Avoiding bushwhacks includes avoiding probate court. I know I am repeating myself here, but this is a common area of misconception. The downsides of probate court are numerous. The attorney fees, which they often refer to as ‘administrative expenses’, can be 5-7% of the value of your probate estate. For example, if you have One... [Read More]
Protecting the Kids…
A lot of estate planning attorneys think that assets should be kept in trust for the adult children for their lifetime and not paid out right upon the death of the parent. You can do that and still give the adult children control of their share. A risk to the adult children that is out... [Read More]
The Differences between Wills and Trusts…
What is a Will? A Will is only effective when you pass on. It forces you into probate court. It is public record showing who inherits, how they inherit, and how much. The Administrative Office of the Courts tell us that the average administrative time is between 18 and 24 months from the time the... [Read More]
When the Last One Goes…
You can avoid probate court if your estate plan is well designed and current. When you pass on, when your spouse passes on or your loved one, parent, et cetera, pass on that is when we look at the questions of: ‘Where is the estate plan? Is it a valid legal enforceable estate plan? Are... [Read More]
They are gone…
If someone has died, what do we do next? There is a comedy play called Daddy Died, Who Has the Will?, which is a chaotic comedy of everyone scrambling around, trying to find the Will and find out what daddy owned. You want to avoid that. You can have a well done estate plan prepared... [Read More]
I can’t remember
NOTE: This is an excerpt from the book, The Legacy You Leave, by Steven Andrew Jackson, Esq. You can buy the book on Amazon or Kindle. Click here for details. They say we are statistically six to nine times more likely to become mentally incapacitated in a given year than to die. I have worked... [Read More]
Who is in control?
NOTE: This is an excerpt from the book, The Legacy You Leave, by Steven Andrew Jackson, Esq. You can buy the book on Amazon or Kindle. Click here for details. We want to remain in control of our lives and our affairs as long as we can mentally and physically. We have achieved whatever we... [Read More]
FAQ: Is Government the Answer?
NOTE: This is an excerpt from the book, The Legacy You Leave, by Steven Andrew Jackson, Esq. You can buy the book on Amazon or Kindle. Click here for details. Is government the answer? We all laugh when someone says, “I’m from the government, and I’m here to help,” which is not a good sign.... [Read More]
Why do I do estate planning?
Why do I do Estate Planning? NOTE: This is an excerpt from the book, The Legacy You Leave, by Steven Andrew Jackson, Esq. You can buy the book on Amazon or Kindle. Click here for details. As an estate planning attorney, I want to make a difference in the lives of others. I want to... [Read More]