Any time you are doing Estate Planning for Blended Families, it is always a balancing act. You have to balance the couple’s desire to take care of each other vs. their desire to take care of their children from their previous marriage. As usual, a Revocable Living Trust is the best foundational Estate Planning tool. ... [Read More]
Tag: estate planning
Ready or Not, Here It Comes
Studies show that 75% of us do not even have a current Will, let alone the needed legal planning in the event we become sick and our loved ones are unable to authorize medical treatment for us. Nor do we have the proper legal planning in place for loved ones and friends to ask medical... [Read More]
Adult Guardianship Is a Custody Case
Adult incompetency proceedings, also know as guardianship cases, consist of two parts. Both parts are court proceedings in Probate Court or before the Clerk of Superior Court in North Carolina. The Clerk of Superior Court is also the Probate Judge in North Carolina. There are two major parts of the guardianship case. The first is... [Read More]
Asset Protection – Do It Right!
I know a very bright and courageous entrepreneur who is trying to do Asset Protection, but they are being taken advantage of. Unfortunately, this very bright person has bought into the “seminar circuit” and has attended seminars by a national speaker who travels and hits some high points, tells some horror stories about asset protection... [Read More]
Your Living Trust and Dementia or Alzheimer’s
You can plan within your Living Trust to remain in control in the event you become mentally incapacitated by dementia or Alzheimer’s. You can plan for Mental Disability in the form of having a panel which would consist of a physician and family members or friends to decide if they need to turn on the... [Read More]
Rumor Has It…One Year Extension on Bush Tax Cuts
The most current reliable rumor on backside negotiations between the Republicans and Democrats that effect Estate Taxes and other tax issues is that there will be a one year extension (or “patch”) on the Bush Tax Cuts. As you know, the Bush Tax Cuts that went into effect in May 2001 are set to expire... [Read More]
Asset Protection Workshop – Very Interactive!
Our Asset Protection Workshop for Financial Professionals, CPAs, Accountants, and Insurance Professionals was very interactive between all parties and extremely insightful. We learned from the Accounting Professionals how their clients look at protecting their assets; we looked at available insurance from the Insurance Professionals as to what they help insure; and we heard from Financial... [Read More]
Asset Protection Workshop – May 30
I will present the workshop “Five Common Asset Protection Mistakes” on Wednesday, May 30, 2012, from 8:00 to 9:00 a.m. The class will provide one hour of continuing education credit from the N.C. Department of Insurance, and is for CPAs, Accountants, Financial and Insurance Professionals. In one hour we will cover: 1. Why you have... [Read More]
Are Your Assets Titled Correctly?
After you pass on, what you own moves by how it is titled. If it is titled in your name, it goes to Probate Court, even if you have a Living Trust (aka Revocable Trust). If the asset is in joint names with right of survivorship (like with your spouse), it moves to the survivor... [Read More]
75% of Us Don’t Have a Current Will
Studies show that 75% of Americans do not have a current Will, let alone a current Living Trust, Health Care Power of Attorney, or Financial Power of Attorney. In the April 25th edition of Forbes Magazine, they listed the seven most common mistakes made in Estate Planning. Number one was not having a current Estate... [Read More]