Posts Tagged ‘Trust’

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A new year!

Friday, January 1st, 2010

Welcome to 2010!

I love the start of a New Year!  It’s a time to reflect on the events of the past year and to make plans for what is coming up in the new year.  It is also a time to make our resolutions.

One of my resolutions is to review my own estate plan to make sure that it still fits my needs.

There have been some changes to the makeup of our family during the past year, and the addition of another pet.   I want to make sure that these changes will be handled correctly in my estate plan.  And I want to revisit my General Durable Power of Attorney and Advance Medical Directive to see if they need to be changed.

An estate plan is not a ‘do it once and put it away’ type of thing.  It should be reviewed regularly.  Think of it as an annual checkup – only for you estate plan and not your health.

That’s why our January Special is a complete review of your current estate plan for only $100!

Call the office today to schedule your estate plan checkup!  We can be reached at 757-234-4650.

I hope you all have a Wonderful New Year!

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Are you prepared?

Saturday, October 31st, 2009

(Note this post was re-written from a few months ago when both Farrah Fawcett and Michael Jackson died in the same week)

Thursday was a difficult day in the world of celebrity news. But it is also a good view on what happens when we either are, or are not, prepared for end-of-life events.

On the prepared side, we all heard about the death of Farrah Fawcett. Since she had cancer and knew it was terminal, there were plans already in place so that the TV specials and news items that documented her life were all ready to go. Things seemed to go more smoothly for those that needed to act.

On the un-prepared side, we also all heard about the death of Michael Jackson. However, in Michael Jackson’s case, nobody thought that he would die so soon. The family was not prepared for his passing and the news media was not prepared to present the TV specials that would document his life.

Being prepared does not make a death more or less tragic. The loss of a loved one is always tragic.

But if you have prepared in advance, it can make things much easier on those that are left behind.

Even if we aren’t movie-stars, our passing will have a huge impact on our family and friends. I think we owe it to them to be as prepared as possible.

If you’d like to discuss what you can do to help your family become prepared for your inevitable passing, call our office to schedule an estate planning session.

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Things are changing.

Saturday, October 31st, 2009

I love the start of a new school year!

When I was growing up, the start of a new school year was when things changed. I got a new teacher, got new clothes, got new school supplies, moved into a new grade and often found new friends.

That’s why I suggest this time of year to review your estate planning needs.

If you already have an estate plan (with the appropriate medical directives, powers of attorney, will and perhaps a trust), this is the time when you should take a few minutes and think about what changes have occurred since you last considered the plan.

Do you have a new spouse? (or are you now unmarried?) Do you have new children/grandchildren? Have your children left the home for lives of their own? Have you purchased a new home? Have you moved to another locality? Have you purchased or sold any items that should be considered in your gifting scheme? Have you changed jobs?

If any of these have occurred, you should consider a review of your estate plan.

Also, even if none of these changes have occurred, you should consider a review of your plan if it has been at least 3 years since your plan was established. Why? Because laws change and you want to make sure that your plan is taking advantage of the newest legal rules.

At Kristina Beavers, Attorney at Law, we will be happy to review your existing estate plan to make sure it fits your needs today. Call us today at 757-234-4650 to schedule this review!

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Don’t I need a trust?

Saturday, October 31st, 2009

You’ve probably heard that ‘everyone’ needs a trust. And that’s just not true.

The right answer is ‘it depends’.

It depends on what you own. It depends on what you want to do with what you own. It depends on why you might want a trust. It depends on your tax situation.

Anyone can give you a trust document. You can even fill out some fields online and have one printed for you for very little cost.

The big problem with this approach is that you don’t get the advice that you need to make an informed decision. It may be that a trust is just not right for your situation.

That’s why I recommend seeing an attorney and taking the time to explain what you really want. And then the attorney can customize an estate plan to fit your needs and wants.

It may cost a little more now, but it can save a lot later…..in money as well as in confusion and frustration.

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