How to Handle Unequal Bequests in Your Estate Plan

There are several common reasons why someone would leave unequal bequests: Strained relationship Estranged relatives An attempt to even out the amount given to loved ones because an individual may already have received a significant amount of property from you during your lifetime Increased need of the beneficiary Whatever the reason, unequal bequests have an. . .

Ask Heidi: Should My Trustee Be My Spouse or Child?

When selecting a trustee only you know your family members’ strengths and weaknesses, putting you in the best position to decide if your spouse or child can appreciate a trustee’s responsibilities. Being a trustee creates many duties under state law. These include, but are not limited to, impartiality between the current and future beneficiaries’ interests,. . .

Ask Heidi: Is a Will All I Need?

  In addition to a Will, it’s important to work with an estate attorney to draw up other important legal documents to protect your interests and the interest of your dependents and/or heirs. These include: A Durable power of attorney to appoint your “agent” to carry out any legal and/or financial decisions that have to. . .

Ask Heidi: What should I change in my Estate Plan after my divorce?

Answer: Divorce is a difficult process, no matter how amicable the split. Between property division, potential custody disputes, and escalating legal bills, no one wants to think about more legal hoops to jump through. While updating your estate plan during a divorce may be the last thing on your mind, a failure to do so. . .

Using a Trust When You Have Young Beneficiaries

Getting an Estate Plan in place is an essential but complicated process. Everyone’s situation is different, and that is why I always recommend hiring an Estate Planning Attorney to listen to your unique circumstances and utilizing their knowledge of the law to put together a plan that works for you and your heirs. With that. . .

An Open Letter To Our Community

As we navigate the effects of business in our community, we wanted to share the following resources for you to peruse for you and your small business. Governor Ron DeSantis recently issued Executive Order Number 20-91 “Essential Services and Activities During COVID-19 Emergency)”.  Here is a link to a copy of the Governor’s Executive Order.. . .

MYTH #4: Once I put a plan in place, I don’t need to revisit it later.

  Planning is never a “once and done” proposition. Your life, preferences, and goals change over time and maybe also be impacted by outside influences, such as the financial markets, tax law changes, and economic events. What if you marry or divorce, welcome a new child or grandchild, your minor children become adults, you move. . .

MYTH #3: A will can oversee the distribution of all of my assets.

A will is a legal document that instructs how your property will be distributed after your death. It allows you to name a Personal Representative charged with overseeing the distribution of your property and shepherding it through the probate process. Probate is the court process that’s required to validate your will and transfer your assets.. . .

MYTH #2: Estate planning is only about distributing my assets after I’m gone.

Incapacity planning is an area of planning that encompasses far more than managing your assets after your lifetime.  Incapacity planning is an ever-evolving plan —I like to call it Life Stage Planning and it is the preparation for unexpected events at every stage of your life.  When you have a young family it would include. . .

Common Myths Regarding Estate Planning – Ask Heidi

  In my practice, clients come to me with preconceived ideas regarding Estate Planning, and many of them are incorrect. Due to this, I decided to create a blog series to debunk the most common myths.  Estate planning is about defining your legacy during your lifetime, enabling you to enjoy the impact it has on. . .