Law firm specializing in trusts, wills and estates.
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Last week, in part one of this series, we covered the processes that Facebook and Google have in place to manage your digital accounts following your death. In part two, we’ll continue our discussion, covering how Instagram, Twitter, and Apple’s collection of online platforms handle your accounts once you log off for the final time.
Check the link below in the comment section to read the latest blog article.
If you have preferences about what happens to your digital footprint after your death, you need to take action. Otherwise, your online legacy will be determined for you—and not by you. If you have any online accounts, such as Gmail, Facebook, Instagram, LinkedIn, Apple, or Amazon, you have a digital legacy, and that legacy is yours to preserve or lose.
Following your death, unless you’ve planned ahead, some of your online accounts will survive indefinitely, while others automatically expire after a period of inactivity, and still, others have specific processes that let you give family and friends the ability to access and posthumously manage your accounts.
Check out our latest blog article on how to manage your digital accounts after your death. Link below in the comment section.
Please join me on Tuesday, October 11th at 12pm or a free, live Estate Planning webinar! I will add a little TMZ to take Estate Planning to a different (and more interesting) level!
You will learn through the mistakes of a few beloved celebs:
- About the 4 Essential Estate Planning Documents, which EVERYONE over 18 should have.
- How to ensure your loved ones avoid the long and costly process of Probate.
- How to protect your children and their inheritance if the unthinkable should happen.
You can register using this link: https://event.webinarjam.com/register/4/ky9qkbv
Excited to be included in this article about entrepreneurship as I continue on my journey with my legal practice!
Entrepreneurship is about more than just a desire to make money. Here are seven characteristics of an entrepreneur that help them stand out from a crowd.
If you have started to save for your child or grandchild’s college education, it’s worth considering whether to use a 529 plan, an education savings account, or an irrevocable trust.
Last week, in part one of this series, we discussed 529 plans and education savings accounts, which are both popular options for saving for college education. One of the main reasons for their popularity is their tax-saving advantages. The money you contribute to a 529 account grows on a tax-deferred basis, and withdrawals are tax-free, provided they are used for qualified education expenses, such as tuition, room and board, and other education-related fees.
Check out the link below for part two of this series.
If you have started to save for your child or grandchild’s college education, it’s worth considering whether to use a 529 plan, an education savings account, or an Irrevocable Trust.
Read this week’s blog article and find out what we think you should consider as you decide on your child (or grandchild’s) college education. Link below in the comment section 👇
You might think that only the super wealthy need to worry about asset protection planning. But the truth is that if you don’t have millions, you may be at even greater risk. For instance, if you are a multi-millionaire, a $50,000 judgment against you might not be that big of a deal. But for a family with a modest income, savings, and home, it could be devastating.
This week’s blog article, let's talk about the 4 essential strategies for protecting your family’s assets. The link is in comments below!
As we are about to wrap up another Pride Month, the LGBTQ+ community faces an increasingly uncertain legal landscape. In the wake of the Supreme Court's leaked draft opinion that would overturn Roe v. Wade and end the recognition of a constitutional right to abortion, many are worried that other rights, especially those enjoyed by same-gender couples, might also be under threat.
In fact, should Roe be overturned, legal experts warn that the Supreme Court’s new Republican majority may come for landmark LGBTQ-rights decisions next, including marriage equality established by Obergefell v. Hodges. In light of this potential challenge, it’s critical that same-gender couples ensure their estate plans are carefully reviewed and updated by an estate planning lawyer who understands the special needs of LGBTQ+ planning to address any such developments.
For this week’s blog, learn the estate planning FAQs for LGBTQ+ couples.. Link below!
If you're single and have no children, consider these three inconvenient truths before you decide to forego estate planning.
Click the link in the comments to read our latest post!
Umbrella insurance is valuable for anyone who can afford it. Anyone can be sued at any time for anything, which means it’s a particularly good idea if you are engaging in any activity that could leave you liable for a judgment in excess of your policy limits.
If you are sued and a judgment is ordered against you for an amount that exceeds your insurance policy limits, the court can allow the plaintiff to go after your future earnings, potentially garnishing your wages for years. In this regard, umbrella insurance not only protects your current assets, but your future assets as well.
The link to our latest article is in comments below!
Estate planning is definitely not a one-size-fits-all endeavor. Even if you think your particular situation is simple, that turns out to almost never be the case. To demonstrate just how complicated estate planning can be, last week in part one, we highlighted the first five of 10 of the most common estate-planning mistakes, and here we wrap up the list with the remaining five mistakes.
Here’s part two of the series “10 Common Estate Planning Mistakes Your Family Can’t Afford to Make”. Check it out now! Link in comments below.
If you die without an estate plan, the court will decide who inherits your assets, and this can lead to all sorts of problems. Who is entitled to your property is determined by our state’s intestate succession laws, which hinge largely upon whether you are married and if you have children. Spouses and children are given top priority, followed by your other closest living family members.
Dying without a plan could also cause your surviving loved ones to get into an ugly court battle over who has the most right to your property. Or if you become incapacitated, your loved ones could even get into conflict around your medical care. You may think this would never happen to your loved ones, but we see families torn apart by it all the time, even when there’s not significant financial wealth involved.
As your Personal Family Lawyer®, we will help you create a plan that handles your assets and your medical care in the exact manner you wish, taking into account all of your family dynamics, so your death or incapacity won’t be any more painful or expensive for your family than it needs to be.
Read this week’s article to find out the 10 common estate planning mistakes your family can’t afford to make.
Without a proper estate plan, your team, clients, and family could face dire consequences if something should happen to you. Yet these dangers can be fairly easily mitigated using a few basic estate planning strategies. To demonstrate why proper estate planning is so important for business owners, here are four issues your company and family are likely to encounter as a result of poor estate planning, along with the corresponding estate planning solutions you can use to prevent and/or mitigate those issues.
Read our latest article to learn why Estate Planning is so essential for business owners.
If you are a mom or dad with children under the age of 18 at home, your number-one estate planning priority should be selecting and legally documenting both long and short-term guardians for your kids. Guardians are the people legally named to care for your children in the event something happens to you.
And if you’ve named guardians for your children in your will—even with the help of another lawyer—your kids could still be at risk of being taken into the care of strangers!
For this week’s blog, find out how naming guardians for your kids in your will can leave them at risk. Click on the link below!
Whether it’s to qualify for Medicaid, avoid probate, or reduce your tax burden, transferring ownership of your home to your adult child during your lifetime may seem like a smart move. But in nearly all cases, it’s actually a huge mistake, which can lead to dire consequences for everyone involved.
This week’s blog article talks about the 3 reasons why transferring ownership of your home to your child is a bad idea.
To spare your loved one’s the time, cost, and stress inherent to probate, last week in part one of this series, we explained how the probate process works and what it would entail for your loved ones. Here in part two, we’ll discuss the major drawbacks of probate for your family, and outline the different ways you can help them avoid probate with wise planning.
Here’s part two of the series “Probate: What It Is & How To Avoid It”. Check it out now!
Unless you’ve created a proper estate plan, when you die many of your assets must first pass through the court process known as probate before those assets can be distributed to your heirs. Like most court proceedings, probate can be time-consuming, costly, and open to the public, and because of this, avoiding probate—and keeping your family out of court—is a central goal of most estate plans.
Read this week’s article to learn what is Probate & how to avoid it. Link to article is below, And let us know what you think in the comments below!
Some of these strategies are time tested and available every year, but with all of the legislative changes made during the past two years to deal with the pandemic, there are also a few opportunities that won’t be around much longer, with some only available this year. While there are dozens of potential tax breaks you may qualify for, here are 7 of the leading moves you can make to save big on your 2021 tax return.
Meet with us, your Personal Family Lawyer®, to make certain you don’t miss out on a single one.
As a parent, you’re likely hoping to leave your children an inheritance. In fact, doing so may be one of the primary factors motivating your life’s work. But without taking the proper precautions, the wealth you pass on is at serious risk of being accidentally lost or squandered due to common life events, such as divorce, serious debt, devastating illness, and unfortunate accidents.
In some cases, a sudden inheritance windfall can even wind up doing your kids more harm than good. Read my latest blog article, where I cover how to protect your children’s inheritance with a lifetime asset protection trust.
Click the link in comments to learn more!
Much of the damage caused by natural disasters is not covered by a standard homeowners policy. To fully protect your home and other property, you often need to purchase a separate policy or endorsement that covers specific types of natural disasters.
To help you get the proper coverage, Read my latest blog article, where I’ve highlighted the various types of insurance available and explained what these policies typically will—and won’t—cover. Link in comments below!
If you are running a business, it’s easy to give estate planning less priority than your other business matters. After all, if you’re facing challenges meeting next month’s payroll or your goals for growth over the coming quarter, concerns over your potential incapacity or death can seem far less urgent.
But the reality is considering what would happen to your business in the event of your incapacity or when you die is one of your most pressing responsibilities as a business owner. Although estate planning and business planning may seem like two separate tasks, they’re actually inexorably linked. And given that your business is likely your family’s most valuable asset, estate planning is crucial not only for your company’s continued success but also for your loved one’s future well-being.
Read this week’s blog article to learn why Estate Planning is so essential for business owners. The link is in the comments below.
Even if the process is amicable, divorce can be one of life's most stressful events. With so many major changes taking place, it’s easy to forget to update your estate plan—or simply put it off until it's too late. After all, dealing with yet another lawyer is probably the last thing you want to do.
However, neglecting to update your estate plan for divorce can have potentially tragic consequences. And you shouldn’t wait until the divorce is final to rework your plan—you should update it as soon as you realize the split is inevitable.
Here’s why: Your marriage is legally still in full effect until your divorce is final, so if you die or become incapacitated while your divorce is ongoing and haven’t changed your estate plan, your soon-to-be ex-spouse could wind up with complete control over your life and assets. Unless you want your ex to have that kind of power, you need to take action as soon as possible.
Read this week’s article to learn the 5 updates you need to make to your estate plan if you are currently going through a divorce. Link in the comments!
What the heck is probate and how can you avoid it? I sum it up for you in my latest video!
Probate is the legal process that happens after someone dies. It can determine heirs, paying creditors, and distributing assets, and you can't avoid probate ...
Life insurance is a key component of your family’s estate plan, offering those who depend on you for their financial security a safety net in the event of your death. Whether those dependents include your spouse, children, aging parents, business associates, or all of the above, investing in life insurance is a way to say “I love you” and make certain that when you pass away, the people you love will have a reliable source of financial support to count on.
Link to the post in comments!
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In this new video from my #intrustwithnicole series I talk about what happens to your will if you move to a new state. Most states will accept a will that was executed properly under another state’s laws. However, there could be differences in the new state’s laws that make certain provisions in your will invalid. Here are a couple things you should review in your will when moving... #wills #estateplanning #nicoleisraellaw
In this latest episode of #intrustwithnicole I'll share the reasons why you should not leave money to your special needs child through your will. There is another solution may not be as complicated as you think! #specialneedstrust #trusts #wills #nicoleisraellaw
At 18 your child is now an adult in the eyes of the law. (Although maybe not to you!) This means you need to have several key documents in place to ensure that you or another trusted adult can make medical and financial decisions on his or her behalf should your child become incapacitated by illness or injury. Find out more in this video as part of my #intrustwithnicole series! #willsandtrusts #powerofattorney #livingwill
Should you become incapacitated without any planning in place, your family would have to petition the court in order to be granted guardianship. In most cases, the court would appoint a family member as guardian, but this isn’t always the case. Find out how to avoid being put under the care of a professional guardian in this short video as part of my #intrustwithnicole series! #guardianship #estateplanning
In this short video from my #intrustwithnicole series learn why you should generally NOT name your minor child as a beneficiary of your 401(k) or other retirment accounts and what you should do instead! #trusts #estates #intrustwithnicole #retirementplanning
Parents need to name both a guardian and fiduciary. They should ideally be people who know each other who trust each other and who both will be working in the best interest of your children. https://bit.ly/3cU7aSL #guardianship #kidsprotectionplan
There is no deadline by which to name your child's legal guardian, but it's better to act sooner than later so a court does not make this crucial decision for you. https://bit.ly/3cU7aSL #guardianship #kidsprotectionplan
Why work with a Personal Family Lawyer? Here's a sneak peek from my upcoming webinar on The Straight Scoop on Legal Planning for Busy Parents! https://bit.ly/3cU7aSL #guardianship #kidsprotectionplan #trusts
Here's why parents need to consider a Kids Protection Plan for their minors. Help preserve your wealth and protect assets, as well as keep loved ones out of court and conflict. https://bit.ly/3cU7aSL #guardianship #kidsprotectionplan
Probate is public. And where there's a will, there is probate. The will is public and puts all of the predators out there on notice that your loved ones will be receiving money. https://bit.ly/3cU7aSL #guardianship #kidsprotectionplan
What do I need to look for in a guardian? View the entire free presentation here: https://bit.ly/3cU7aSL #guardianship #kidsprotectionplan
What would happen to our children if something were to happen to us. Have you put into place some of the most important forms of guardianship? https://bit.ly/3cU7aSL #guardianship #kidsprotectionplan
A question that routinely comes up is whether parents should name children as beneficiaries of life insurance policies. We never recommend naming a minor child as a beneficiary of any asset, whether it's life insurance or retirement accounts, or any other type of asset. I'll tell you the reason in the short video below! #intrustwithnicole#trusts #lifeinsurance
Join me for a free online presentation for the Straight Scoop on Legal Planning for Busy Parents! In this webinar you'll discover: The most common mistakes parents make when naming guardians, even when working with a lawyer -- and how to fix them. How to choose the right guardians for your children and make sure your children are never taken from your home or placed with strangers if something happens to you. How to make sure your assets are immediately and privately available to the people you’ve named to care for your children. Why a Will alone is simply not enough to make sure your kids are taken care of the way you want, by the people you want, no matter what. Register here: https://event.webinarjam.com/channel/StraightScoop
What if you pass away without a will? If you pass away with no will in place, state law fills in the gaps....And what does that mean? Watch my latest video in my #intrustwithnicole series to find out! #wills #trusts #estateplanning #nicoleisraellaw
What's the difference between a Living Will and a Last Will and Testament? And do you need a Living Will? Find out in the latest video from the #intrustwithnicole series! #wills #trusts#livingwills #estateplanning www.nicoleisraellaw.com
You Need an Estate Plan if you have assets over $100K or have minor children. I’ll tell you why in my upcoming free webinar and tell you the steps you can take to protect your assets and loved ones. Register using the link below: https://event.webinarjam.com/register/1/8q60zan
"Do I Need More than a Will?" The short answer is YES. Find out what else you need and why you need it in my next short video of the "In Trust with Nicole" series! www.nicoleisraellaw.com
In my second installment of the "In Trust with Nicole" series find out what an estate plan is exactly. It's much more than figuring out who gets what... #InTrustwithNicole #wills #trusts #EstatePlanning #nicoleisraellaw www.nicoleisraellaw.com
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