Over a lifetime, people can accumulate a lot of “stuff”. This can ultiply as families have children and later inherit from parents or grandparents who pass away. While many accounts and assets have a rather “straightforward” process to pass on, some unique, rare, collectible, and/or expensive personal effects require more care in handling. We’ll walk through the various items to consider.

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One of the most important parts of the estate planning process is choosing the right people as “fiduciaries” to handle affairs on your behalf if you get sick or pass away. This can include medical, financial, and legal decisions while living as well as managing your estate (and possibly children) after you are gone. While most understand the need to choose the RIGHT fiduciaries, many plans fall short by not picking ENOUGH of them. So how many backups do you need?

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Once estate planning documents are signed, it is important to keep them both safe AND accessible. Many people do not consider the importance of where to store your documents after they are prepared. One option that some people use is allowing their attorney to store the original documents at their office. Tune in as Nick discusses what this looks like. 

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Aretha Franklin, known by many as the “Queen of Soul,” died back in 2018. While she has been gone for a number of years, there have been a number of mysteries surrounding her estate. This has included a lawsuit concerning the validity of a handwritten Last Will & Testament that was found after she passed away.

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When thinking about an inheritance, most families visualize individual “shares” for each beneficiary (whether a $ amount or % of the overall estate). For families with children, they very often create equal shares for each child. Sounds fair, right? Well, what would happen if there was a large age difference in the children? Are there ways that can go wrong?

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Lisa Marie Presley (who was the only child of Elvis Presley) died back on January 12 th , 2023. She left behind her mother (Priscilla Presley), and her daughter (Riley Keough). Her son (Benjamin Keough) passed away a couple of years ago. Since her passing, there has been a significant court battle over Lisa’s estate plan. We did a previous podcast when the legal battle first began. Since that time, settlements have been reached.

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There are a lot of misconceptions when it comes to joint ownership and how it applies to certain situations. In this episode, Nick will be discussing some pitfalls that can happen when there's an asset with joint ownership and why you need a comprehensive estate plan to be fully covered.

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When you develop a relationship with any professional in a specific industry, it's common knowledge that you do not have to be close friends in order to work together. But should you at least like the person you're working with? Today, Nick will be discussing why you need to be comfortable with your attorney and some of the different relationship dynamics he sees in his practice.

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While there is NEVER a substitute for a complete, well-thought-out estate plan, shortcuts and alternative ways to transfer your assets DO exist. Many types of assets allow beneficiary designations, transfer-on-death or pay-on-death designations, succession plans for businesses, etc. One of the most popular questions that clients often ask is about what to do with real estate. Because real estate is usually one of the most valuable assets that families will ever own, choosing the appropriate way to transfer real estate upon passing is very high risk, high reward.

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When people think of their “estate” within estate planning, many common assets come to mind. There are proper protocols and procedures for transferring bank accounts, investments, retirement accounts, vehicles, real estate, etc. However, a new type of asset has come into play in the 21st century: digital assets. While the law has tried to play catch-up on how to handle digital assets, there are certain things that can be done now to make sure this part of your estate is properly handled if you become ill or pass away.

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513-463-6789  

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