Lauren's Take On The Law

This blog post will help you take the right steps if you are ever involved in a car accident.

Next week is Estate Planning Awareness Week (October 18–24, 2021). To that end, this month’s newsletter is geared toward helping you become aware of and better understand common estate planning myths. Left unaddressed, these myths can create serious trouble for your loved ones, often leading to intrafamily conflict, permanently damaged relationships, and lengthy and expensive court battles. Read about these myths in this blog post.

For many pet owners, pets are members of the family. These individuals often say that if something happens to them, they are more concerned with what will happen to their pets than to their children or spouse. This post examines the issues surrounding caring for pets after the disability or death of the pet's owner.

In late May of this year, the U.S. Treasury released a publication detailing a number of the proposed tax code changes that the Biden administration would like to usher through Congress in an ambitious effort to modernize the US tax system to meet its citizens’ needs. While reasonable minds may differ strongly on the best way to stimulate the US economy and create wealth and security for the American people, one thing is certain: the need for individuals to engage in careful estate and tax planning to avoid paying more tax than necessary is not going away.

Thank you Neighbors!

When selecting a successor trustee for a trust, it is common for the individual who creates the trust (the trustmaker) to choose one person to serve as a successor trustee at a time. Some attorneys routinely recommend that only a single successor trustee be appointed to avoid the potential for conflicts between co-trustees during trust administration. This can be a prudent approach and works well in many situations. But there are situations where having more than one trustee may be a good idea. Read more about this in our latest blog post!

Believe it or not, there are some essential things you must consider when you anticipate receiving an inheritance. Understanding these issues can be crucial to protect that inheritance from unnecessary taxes and outside threats like creditors, divorcing spouses, and bankruptcy.

When you hire an estate planning attorney, you are often looking for help with preparing your accounts and property to ultimately pass smoothly and safely to your loved ones. This is a key component of estate planning. An experienced estate planning attorney will put much thought and effort into ensuring that an appropriate estate plan is created using a variety of legal documents including wills, trusts, powers of attorney, and health care directives. These important tools can ensure that what you own ends up in the right hands, at the right time, and with as little cost and delay as possible.

Many of our clients contact me weeks after we complete their estate plan to inquire about a notice they receive in the mail. The mailer will say "Recorded Deed Notice" at the top and states that if the homeowner pays a certain fee (e.g., $86.00 or $95.00), they will be get "a Property Assessment Profile Report along with a complimentary copy of their current Grant Deed or other record of title" in return. Clients normally get this notice after transferring real property to their revocable trust, or in regard to other transfers of land.

Many scientific studies have established that there is a wide range of benefits flowing from a positive attitude and positive thinking. At a time when many are focused on worst-case scenarios and gloomy predictions, you can resist the pull of negativity and embrace the beneficial results of positivity. This is not just an attempt to make yourself feel better in spite of reality, but rather to take full advantage of the proven benefits of positivity. You can increase not only your own wellbeing but also that of your children or other beneficiaries by creating an estate plan designed to promote their happiness, which in turn, will enable them to live healthier and more successful lives.

In light of the current pandemic, many Americans are becoming aware of the importance of creating or updating their estate planning documents. With the extension of some states’ stay in place orders, it may be tempting to create your own documents all on your own. Whether you are considering writing your own will or using an online “do it yourself” (DIY) document creator, there are many reasons why this is one project you shouldn’t undertake without the help of a professional.

Many Americans spend a lot of time and effort in managing their finances. While most are worried about how the coronavirus (COVID-19) will impact their income—whether that’s because they are temporarily furloughed, find themselves suddenly without a job, or watching their investment and retirement accounts dwindle—there is another way COVID-19 can wreak havoc on American’s finances: lack of incapacity planning.

News about the coronavirus is everywhere, and we have all been affected by it in some way, even if we are currently completely healthy. Although it may seem as though circumstances are spinning beyond our control, we are not powerless. There are steps we can take to protect ourselves and our families, both physically and financially.

As the coronavirus continues to disrupt daily life and leave Americans uncertain of the future, you don’t have to feel helpless during this pandemic. In fact, now is a great time to be proactive and plan ahead should you or a loved one fall ill. One of the most important and relatively easy things you can do (and should do) is to select a medical agent and set up your advance healthcare directive.

We are living in unprecedented times right now. Over the last few weeks, I have been getting asked questions about how to plan around the Coronavirus pandemic. This post provides advice on what individuals and families should be doing and thinking about to prepare for the unimaginable.

In 1984, Congress issued a resolution, signed by President Reagan, establishing March 21st as National Single Parent Day: a day devoted to recognizing the dedication of single parents, who make self-sacrificial efforts to care for their children’s needs, and encouraging family members, friends, and communities to help provide an optimal environment for their children. As a single parent, you should feel proud of your efforts to nurture and care for your children. Read this article to learn about a few additional things you can do to provide for your children’s future that you may not have considered.