The Differences Between A Will And A Trust
Estate planning is essential for anyone who wants to ensure that their assets are distributed according to their wishes after they pass away. Two of the most common estate planning tools are wills and trusts. While they both serve a similar purpose, they have...
Understanding Medicaid Planning And Eligibility Requirements
Medicaid is a government program that provides healthcare coverage to people with limited financial resources. Medicaid planning is an essential part of estate planning for many families, particularly for those who are concerned about the cost of long-term care. In...
Why You Need A Power Of Attorney And How To Choose The Right Agent
You may be wondering: what is a power of attorney, who can have or make one, and who needs one. The power of attorney is a legal document that gives authority to someone to make decisions for the person who makes the power of attorney. The person creating the power of...
Top 5 Reasons To Create A Will Or Trust
Creating a will or trust is an essential aspect of estate planning. It's a process that allows you to specify how your assets will be distributed after your death and ensure that your wishes are respected. Estate planning attorney Connie Aschenbrenner of the Law...
How To Choose The Right Estate Planning Attorney For You
Choosing the right estate planning attorney is a critical decision that can have long-lasting consequences for you and your family. When selecting an attorney, you want to work with someone who is knowledgeable, experienced, and who you can trust. Estate planning...
What Is Estate Planning, And Why Is It Important?
Estate planning is the process of arranging for the management and distribution of your assets after your death or incapacitation. This includes creating legal documents like wills, trusts, powers of attorney, and advance directives. While many people may think of...
Why You Need Advance Directives
Advance directives give a person of your choosing the authority to make decisions on your behalf about the type of care you want in the event of incapacity or an end of life situation. Your directives may contain instructions about the types of medical treatments you...
A Will is a Key Component of Any Estate Plan, But It’s Not Enough
When most people think of estate planning, usually writing out their will comes to mind. While a will can help you accomplish a number of important planning goals, it’s certainly not a complete plan to protect your future. Many people know that a will allows you to...
Yes, Even Millennials Should Have an Estate Plan
Many people believe that estate planning is only for elders. The truth is that younger folks, including millennials, can benefit from having an estate plan of their own. Millennials are generally defined as individuals born between 1981 and 1996—that is, people...
Can You Still Retire Comfortably On A Million Dollars?
Once upon a time, amassing a million dollars for retirement meant that your golden years would be very golden indeed. But what about now—is a million dollars still enough money to enjoy a luxurious retirement? The good news is that more than 20 million people in the...
An Introduction to Special Needs Trusts
For many families with a special needs child, a special needs trust is one of the most important components of the family’s overall estate plan. A properly designed and implemented special needs trust can provide a number of important benefits. Maximize quality of...
Valentines Estate Planning
February is here! It’s a month marked with pretty pink and red heart decorations, and flamboyant expressions of love. That’s what I’d like to talk about today – love, and what that looks like in real life, beyond the red roses and glitter. When you truly love someone...
What to Do When a Loved One is Diagnosed with Dementia
A dementia diagnosis is a traumatic time for any family. Dementia happens slowly and progressively over time. In the early stages, some symptoms are often thought of as just signs of aging. Beginning signs can be as simple as losing car keys, forgetting where the car...
Now Is a Good Time to Review Your Estate Plan
For many of us, the holidays are a time to reflect upon the changes that have taken place over the course of the year. (There is certainly a lot to reflect upon this year!) As estate planning attorneys, the end of the year is a time to remind our clients about the...
Preventative maintenance
I bet you have some aspirin or Advil in the medicine cabinet, or maybe your favorite herbal tea will do the trick, if you are feeling under the weather. Sounds like you are prepared. What is your plan if the aspirin, advil and herbal tea don’t work? What if you...
What Will Happen to Your Digital Estate When You Pass Away?
Even if you are not tech savvy, you likely have a digital “estate” comprised of assets with financial and sentimental value. You probably also have plenty of personal information floating around out there in the digital universe. To protect these assets, and to ensure...
Estate Planning for Second Marriages
Second marriages can present unique challenges when it comes to estate planning, particularly if you or your new spouse have children from previous marriages. Let's take a look at some of the factors, tools, and strategies to consider when planning for a second...
Trust Funding
I have been thinking about the estate plan that you created. It includes a revocable living trust. Most of time revocable living trusts are created to avoid probate and plan for disability. We talked about your beneficiaries during your planning sessions and decided...
What’s Not to Like About an I Love You Will? Plenty.
An “I Love You Will” is a last will and testament in which the testator—the person who makes the will—leaves everything to his or her spouse. If you have thought about making a will in the past, you likely considered this approach. Perhaps you have already created...
If You’re Thinking About Downsizing Your Home in Retirement, Avoid These Common Mistakes
Perhaps you have considered selling your current home, buying a smaller one, and using the difference to help fund your retirement. A recent article on Investopedia.com explores this approach and details the mistakes you must avoid. Here are some of the highlights....
Estate planning awareness month. October is the month to plan.
We are well into October. In Alaska, we know what that means: cleaning up the yard, putting the outside lights up, changing our tires to studs, making sure there is an ice scraper and emergency supplies in the car, and maybe planning a warm vacation to break up the...
Tips for a Successful Family Business Succession
Fewer than one-third of family businesses survive into the second generation, while only 13 percent make it to the third generation. Here are some tips to beat the odds and help your business live on for generations to come. The sooner you start the planning process...
The Risks of Giving Adult Children an “Advance” on Their Inheritance
There are many reasons you might consider giving your adult children a portion of their inheritance now, while you’re alive and well. Maybe you’ve seen your nest egg grow thanks to a robust stock market, and you have more in savings than you thought you would at this...
Why Do People “Put Off” Estate Planning?
The statistics are rather alarming. In 2005, 50 percent of Americans had a will; today, only 32 percent of us have one. Meanwhile, only one in three Americans over the age of 55 has a durable power of attorney, and a mere 41 percent of this same demographic has...
