Family Legacy Planning

The Cosby Show Made Him Famous. His Estate Plan Failed His Family. Here’s What I Would Have Done.

Gregory Smith — Fri, 14 Aug 2026 09:30:00 +0000

Malcolm-Jamal Warner, best known as Theo Huxtable on The Cosby Show, died in 2025. One year later, his widow alleges $1.2 million in unfulfilled premarital obligations: a life insurance policy never purchased, a Roth IRA never funded, and anniversary payments never made. A nine-year-old daughter is at the center of the dispute. Here’s what more thorough follow-through on the planning could have helped prevent.

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Make-A-Will Month Is Here. But a Will Isn’t a Plan.

Gregory Smith — Fri, 07 Aug 2026 10:00:00 +0000

August is Make-A-Will Month, and if you've been meaning to get your affairs in order, this is your reminder. But before you assume that getting a will means your family is protected, there's something most people don't know about what a will actually does and doesn't do.

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Friends Don’t Let Friends Go Without an Estate Plan

Gregory Smith — Fri, 31 Jul 2026 07:05:00 +0000

You've heard the phrase: "Friends don't let friends drive drunk." The same logic applies to estate planning. According to Caring.com, only 24 percent of Americans have a will. For some of the people you love most, you may be the only person in their life who will ever bring this up. Here's how to do it without making it weird, and what to tell them about what real planning looks like.

August is National Make a Will Month, which means this is exactly the right time.

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Trump Accounts: What Every Parent of a Baby Born 2025–2028 Needs to Know

Gregory Smith — Fri, 24 Jul 2026 10:30:00 +0000

The federal government is depositing $1,000 into savings accounts for every baby born between January 1, 2025 and December 31, 2028. The account is called a Trump Account, contributions opened July 4, 2026, and most families have not yet taken the step to claim it. Here is what it is, how to open one, and what it means for your family's plan.

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When Your Spouse Won’t Get on Board with Estate Planning: What to Do Now

Gregory Smith — Fri, 17 Jul 2026 10:31:00 +0000

Your spouse keeps saying "not now." Here's what you can do today, what requires both of you, and why one professional conversation can change everything.

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What Happens to Debt When You Die: What Families Must Know

Gregory Smith — Fri, 10 Jul 2026 09:45:27 +0000

Your debt does not pass to heirs automatically, but creditors claim the estate before anyone inherits. Here is what actually happens to each kind of debt.

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The New Tax Law and Your Family’s Trust: What to Know Now

Gregory Smith — Mon, 06 Jul 2026 14:00:08 +0000

A client forwarded me a CNBC article last week with a note: “Does this affect our trust?” It was a reasonable question. The article described a provision buried in the One Big Beautiful Bill that tax lawyers and accountants are calling a double taxation problem for trusts. They found it in a footnote of a […]

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Digital Estate Planning: Why Passwords Aren’t Enough

Gregory Smith — Mon, 29 Jun 2026 14:00:18 +0000

She found the notebook in the top drawer of her mother’s desk. Six pages. Every account. Every password. Username, password, recovery question. Her mother had been organized her whole life, and the notebook proved it. Then she tried to log in. The bank account asked for a six-digit code sent to her mother’s phone. The […]

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Divorce Doesn’t Update Your Estate Plan: Here’s What Does

Gregory Smith — Mon, 22 Jun 2026 14:00:29 +0000

If you are a divorced father, you already know something that most married fathers don’t: showing up for your kids takes more deliberate effort than it looks like from the outside. You have worked on the relationship you have with them. You know which weeks are yours and how to make them count. You have […]

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The Father the Law Doesn’t See: What Stepfathers and Father Figures Need to Know

Gregory Smith — Mon, 15 Jun 2026 14:00:46 +0000

The real one shows up. He learns the allergies, the fears, and the names of the friends. He drives to the practices and sits through the recitals and knows which child needs quiet when they’re upset and which one needs noise. He considers these children his family, and they consider him theirs. The legal definition […]

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The Question Every Father Thinks He’s Answered (But Hasn’t)

Gregory Smith — Mon, 08 Jun 2026 14:00:52 +0000

There are two kinds of fathers. The first kind coaches the games, makes it to the school plays, stays up late helping with the projects, and loves his family in every visible way. He thinks about what would happen if something happened to him: maybe during a long drive home, maybe after a close call, […]

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Who Would Raise Your Kids If You Couldn’t? (What You Don’t Know About the First 72 Hours)

Gregory Smith — Mon, 01 Jun 2026 14:00:45 +0000

I work with parents on this exact question all the time, and especially this time of year, sitting right between Mother’s Day and Father’s Day, the love you have for your children tends to be at the forefront of your mind. But there’s a question I find most parents haven’t actually answered yet, even the […]

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No One Warned Her About the Widow Penalty. Her First Tax Return Did.

Gregory Smith — Mon, 25 May 2026 14:00:34 +0000

She had been filing taxes the same way for thirty years. Married filing jointly. Two incomes, two Social Security checks, one tax return. When her husband died, she assumed very little about her finances would change. She still lived in the same house. She still had the same savings. Her income was lower, yes, but […]

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The Document That Fails When You Need It Most

Gregory Smith — Mon, 18 May 2026 14:00:13 +0000

This happens far more than it should. You signed a Power of Attorney (POA), named someone you trust, and filed it away with your important documents. You felt the quiet relief of having that handled. But here’s what most families don’t discover until they’re already in a crisis: a perfectly valid POA can be rejected […]

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He Sold His Company for $1.2 Billion. He Died Without an Estate Plan.

Gregory Smith — Mon, 11 May 2026 14:00:03 +0000

If something happened to you tomorrow, would the people you love know what to do? Would they have the legal authority to do it? Most people think they have a plan, or at least that they will. What they rarely picture is what happens in the days and weeks before anyone can act: while the […]

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Her Husband Died Without a Will. Then ICE Came to the Door.

Gregory Smith — Mon, 04 May 2026 14:00:04 +0000

Then your spouse dies suddenly. Before you have time to grieve, the family starts fighting, the locks get changed, the mail stops arriving, and the basic stability of your life begins to slip away. Without the right legal planning, that kind of loss can trigger a chain reaction that is brutally hard to stop. You […]

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Tax Season Forced You to Look. Now Ask the One Question That Actually Matters.

Gregory Smith — Mon, 27 Apr 2026 14:00:54 +0000

Tax season just made you look at your financial life honestly. All of it. Tax season forced it. You gathered documents, tracked down account statements, reviewed what you own and what you owe. Right now, in April, you are more financially clear-headed than you will be at almost any other moment this year. And here’s […]

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Anne Heche Died in 2022. Her Family Is Still Paying for It

Gregory Smith — Mon, 20 Apr 2026 14:00:11 +0000

After you’re gone, your family won’t just be grieving. They’ll be making phone calls, hunting down accounts, and navigating a legal process that no one told them about. That’s the part that can quietly drag on for years, no matter how much or how little you have. And a story that’s been playing out in […]

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One Death, One Courtroom, One Child – and a Lesson Every Parent Needs to Hear

Gregory Smith — Mon, 13 Apr 2026 14:00:34 +0000

You probably assume that if something happened to you, the other parent would step in and everything would work itself out. In many families, that’s true. But not always. Real life is messy. Parents separate. Relationships become contentious. Custody disputes drag on for years. And when a tragedy occurs in the middle of all of […]

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One Death, One Courtroom, One Child – and a Lesson Every Parent Needs to Hear

Gregory Smith — Fri, 10 Apr 2026 16:11:57 +0000

A Michigan court case shows what happens when a parent dies and no one thought to plan for it. The child had a chronic medical condition, a contentious custody history, and relatives scrambling to get legal authority just to manage her care. The court battle that followed could have gone very differently without years of documented evidence. Here's what every parent needs to know before something like this happens to their family.

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Estate Planning for Unmarried Couples: Protecting the Person You Love

Gregory Smith — Mon, 06 Apr 2026 14:00:35 +0000

You and your partner have built something real together. Maybe you share a home, split the bills, and have been each other’s go-to person for years. In every way that matters, you’re family. The problem is, the law doesn’t see it that way. Without a marriage certificate, your partner has almost no automatic legal standing […]

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Here’s What Can Happen to Blended Families When a Spouse Dies

Gregory Smith — Mon, 30 Mar 2026 14:00:00 +0000

If you are in a blended family, you may believe the simplest estate plan is the fairest one: “I’ll leave everything to my spouse. They’ll take care of my kids.” That approach often works in a first and only marriage. If you and your spouse share the same biological or adopted children, the surviving spouse […]

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Here’s What Happens to Your Retirement Accounts After You Die

Gregory Smith — Mon, 23 Mar 2026 14:00:16 +0000

Retirement accounts like 401(k)s and IRAs often represent the single largest category of wealth for American families. According to recent data, retirement funds in these accounts alone total roughly $21 trillion, and for many households, they compose over 34% of average household assets, even exceeding home equity. Given this scale, understanding how these accounts transfer […]

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Creating a Trust in Your Will vs. Creating a Living Trust: Part 2

Gregory Smith — Mon, 16 Mar 2026 14:00:36 +0000

Last week, we covered how it works when you create a trust through your will. This week, I’ll show you how a trust created during your lifetime (called a revocable living trust) functions differently, what your family experiences when you’ve set up a living trust, and how to decide which approach truly fits your situation. […]

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Creating a Trust in Your Will vs. Creating a Living Trust: Part 1

Gregory Smith — Mon, 09 Mar 2026 14:00:25 +0000

You’ve probably heard that trusts help families avoid probate court and protect assets for the people you love. Maybe you’ve even talked to a lawyer who mentioned including a trust in your will. It sounds like a good solution, but here’s what most people don’t realize: a trust created in your will works very differently […]

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Why Quick and Simple Estate Plan Reviews Don’t Exist

Gregory Smith — Mon, 02 Mar 2026 15:00:50 +0000

When someone calls an estate planning attorney asking for a “quick look” at their documents, the request usually sounds straightforward. Maybe the documents were created using an online service, and they want to “just be sure” the documents are sound. Perhaps there’s been a move to a new state and a question about whether the […]

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Understanding Inheritance Taxes: What You and Your Beneficiaries Need to Know

Gregory Smith — Mon, 23 Feb 2026 15:00:20 +0000

When planning for your death, there’s one issue you may not have thought about, but is so important to your beneficiaries: will your loved ones have to pay taxes on what you leave them? The answer isn’t straightforward because it depends largely on the types of assets you’re passing down, how much you are passing […]

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The Lady Bird Deed: 5 Risks to Consider Beyond Medicaid Protection

Gregory Smith — Mon, 16 Feb 2026 15:00:24 +0000

You own your home. Maybe it’s your most significant asset. Perhaps you’ve heard about Lady Bird Deeds and how they can help you avoid probate and protect your home for your children. A friend told you about them, or maybe you saw something online about how they’re simple, inexpensive, and effective. All of that is […]

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Protecting Your Legacy: Why Life & Legacy Planning Matters for Black Families

Gregory Smith — Mon, 09 Feb 2026 15:00:30 +0000

February is Black History Month – a time to honor the resilience, achievements, and contributions of Black Americans. It is also an opportunity to reflect on the future and the legacy you are building for your family. For many Black families, legacy is not abstract. It is shaped by generations who were denied the opportunity […]

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What Happens to Your Debt When You Die?

Gregory Smith — Mon, 09 Feb 2026 15:00:04 +0000

It’s a question I hear often: if I die with debt, will my family be stuck paying it off? The short answer is it depends on several factors, including the type of debt you have, how your assets are titled, and whether anyone co-signed on your obligations. Understanding how debt works after death can help […]

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Where Will You Live and How Will You Get and Pay For Care As You Age? A Legal and Practical Guide

Gregory Smith — Mon, 02 Feb 2026 15:00:32 +0000

If you’re planning for your own future or helping aging parents, understanding options for living and long-term care isn’t just about finding a nice place to live. It’s about navigating a complex web of legal, financial, and personal decisions that will affect quality of life, inheritance, and family dynamics for generations to come. Let’s break […]

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Why So Much Money Ends Up as Unclaimed Property and What That Means for You

Gregory Smith — Mon, 26 Jan 2026 15:00:20 +0000

This February 1, states across America observe National Unclaimed Property Day, chosen to remind you about a surprisingly widespread financial problem: billions of dollars in forgotten assets currently held by state governments, waiting for their rightful owners to claim them. This observance exists for one practical reason: to help you reclaim money and assets that […]

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Frozen Accounts, Court Delays, and Grief: What Happens in the Probate Process

Gregory Smith — Mon, 19 Jan 2026 15:00:12 +0000

Your mom told you not to worry; she had everything handled. You were her power of attorney, helping her pay bills and manage her accounts. When she passed away, you assumed you’d simply continue handling things the same way you had been. Then you tried to deposit the insurance check. The bank clerk looked at […]

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What Happens to All Your Stuff When You Die? (And Why Your Family Is Dreading It)

Gregory Smith — Mon, 12 Jan 2026 15:00:35 +0000

You open the door to your parents’ home for the first time since the funeral. Closets stuffed with decades of clothes. Cabinets filled with china no one uses. A garage packed with tools, holiday decorations, and boxes labeled “miscellaneous.” Drawers overflowing with papers, keepsakes, and items whose significance you’ll never understand. The task ahead feels […]

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Wills vs. Trusts: How to Choose the Right Tool to Protect the People You Love

Gregory Smith — Mon, 05 Jan 2026 15:00:22 +0000

When you begin thinking about estate planning, one of the first questions you might ask is whether you need a will, a trust, or both. You may have heard conflicting information from friends, social media, or TV experts, which can make the decision feel confusing. And while both wills and trusts can play an important […]

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Why Your Family Needs a Mission Statement

Gregory Smith — Mon, 29 Dec 2025 15:00:49 +0000

You probably know you “should” have a will or a trust, but have you ever talked with your family about why your money exists in the first place? A simple family mission statement, combined with a comprehensive estate plan can dramatically increase the odds that your wealth and your relationships stay intact for generations. You […]

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Got Retirement Savings? Must Read …

Gregory Smith — Mon, 22 Dec 2025 15:00:19 +0000

The SECURE Act 2.0 brought some of the biggest changes to retirement planning in decades. While most people think it only affects their retirement accounts or may not even know about these changes at all, the SECURE Act 2.0 directly impacts how your loved ones will access your retirement accounts after your death and how […]

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Accidental Death at 39: Here’s What You Need to Know

Gregory Smith — Mon, 15 Dec 2025 15:00:59 +0000

Michael Duarte had everything to live for. At 39, the popular food influencer was building his brand, sharing recipes with millions of followers, and raising his 6-year-old daughter Oakley with his wife Jessica. His content brought joy to countless people who watched his sizzling barbecue videos and creative flavor combinations. Then, on November 8, 2025, everything […]

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Caring for Aging Parents: How to Protect Relationships and Plan Ahead

Gregory Smith — Mon, 08 Dec 2025 15:00:24 +0000

When adult siblings come together to care for aging parents, something unexpected often happens. Instead of bringing families closer, the experience frequently exposes old wounds and creates new rifts that never fully heal. What should be a time of unity becomes a source of lasting conflict. With over 37 million Americans providing unpaid eldercare, these painful […]

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The White Elephant Gift Nobody Wants: Family Conflict

Gregory Smith — Mon, 01 Dec 2025 15:00:35 +0000

We’ve all been there. The holiday White Elephant gift exchange starts out fun and lighthearted. But then Uncle Jim steals the massage gun he bought in hopes of winning it for himself. The married couples start tag-teaming to keep the best gifts between them. Cousin Sarah gets stuck with the singing fish. Someone’s definitely holding […]

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How to Talk to Your Loved Ones About Death, Money, and Estate Planning at the Holidays

Gregory Smith — Mon, 24 Nov 2025 15:00:04 +0000

As the holidays approach, families gather to share food, laughter, and stories. But amid the joy, there is often an unspoken truth: many families avoid the conversations that matter most. What will happen when you are gone? How will your loved ones be cared for? What legacy will you leave behind? This season offers a […]

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What to Do When You’re Ready to Create Your Estate Plan but Your Spouse Isn’t

Gregory Smith — Mon, 17 Nov 2025 15:00:06 +0000

When you’re ready to finally put an estate plan in place, it’s natural to feel excited and relieved. You’re taking a powerful step to protect your family, get organized, and make sure everything is handled the way you want if you become incapacitated and when you die. But what happens when your spouse doesn’t share […]

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Honoring Your Sacrifice: Estate Planning Essentials for Military Families

Gregory Smith — Mon, 10 Nov 2025 15:00:45 +0000

Each year on November 11, the nation pauses to honor the courage and sacrifice of those who’ve served in the Armed Forces. Beyond the ceremonies and flags, Veterans Day offers military families a meaningful opportunity to reflect on a vital question: Is your family truly protected if something happens to you? If you’ve served or […]

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How to Keep Wealth in Your Family for Generations

Gregory Smith — Mon, 03 Nov 2025 15:00:28 +0000

Many families focus on building wealth, but fewer think about keeping it. Research shows that a majority of wealthy families lose their wealth by the second generation, and by the third generation, the number climbs as high as 90%. That happens not because parents lack concern for their kids, but because key pieces of planning […]

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Estate Planning for Unmarried Couples: Protecting the Life You’ve Built Together

Gregory Smith — Mon, 27 Oct 2025 14:00:27 +0000

You’ve built a life with someone you love – sharing a home, experiences, and maybe even finances – but without legal marriage, the law doesn’t automatically recognize your relationship. That means if something happens to you, your partner could be left without legal rights to your property, finances, or even decisions about your medical care. […]

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Estate Planning Awareness Week: Why Planning Is the Greatest Gift You Can Give Your Loved Ones

Gregory Smith — Mon, 20 Oct 2025 14:00:27 +0000

October 20–26, 2025, is Estate Planning Awareness Week – a national observance created to encourage Americans to think about what will happen to their loved ones and their assets after they die. For many people, the term estate planning brings to mind stacks of legal documents, a will, a trust, a healthcare directive, or powers […]

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Why It Matters to Your Loved Ones That You Work With the Right Lawyer

Gregory Smith — Mon, 13 Oct 2025 14:00:26 +0000

When someone you love dies, grief hits hard enough. But imagine adding legal chaos, confusing paperwork, and no one to guide you through it all. That’s the reality for thousands of people every year who are left to navigate a confusing, messy, and expensive legal and financial process without support. In this article, you’ll read […]

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Why You Don’t Want an Initial Consultation, But a Life & Legacy Planning® Session Instead

Gregory Smith — Mon, 06 Oct 2025 14:00:26 +0000

If you are like most people, you probably assume that when the time comes, someone—your spouse, your children, or maybe a close friend—will be there to take care of you. But the truth is, more Americans than ever are living alone as they age, often without a clear plan for support. According to AARP, more […]

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The Hidden Risks of Growing Older Without a Life & Legacy Plan

Gregory Smith — Mon, 29 Sep 2025 14:00:54 +0000

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Living With Loss: The Daily Impact of Grief and the Gift of Planning Ahead

Gregory Smith — Mon, 22 Sep 2025 14:00:34 +0000

Losing someone you love reshapes your world in ways you may never expect. Some changes are obvious—you no longer share birthdays, dinners, or conversations. But the harder truth is that grief often weaves itself into the smallest details of daily life. You may notice it when you pour coffee into only one mug, when you […]

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The Surprising Connection Between Meal Planning and Estate Planning Done the Right Way

Gregory Smith — Mon, 15 Sep 2025 14:00:50 +0000

My colleague told me a story recently. Her son moved into his first apartment at college and had to go grocery shopping on his own for the first time. After he got back from the store, he called her in disbelief: “Food is so expensive! Can you help me figure out how to meal plan […]

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Don’t Lose Your Family Stories: How to Preserve Your Legacy Before It’s Too Late

Gregory Smith — Mon, 08 Sep 2025 14:00:32 +0000

A client once told me she would give anything to hear her grandmother’s voice again. Her grandmother had been the heart of the family—the one who told stories about how she survived the Great Depression and how she fell in love with her husband. But when she passed away, those stories went with her. They […]

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The $1.5 Million Estate Planning Mistake You Can’t Afford to Make

Gregory Smith — Mon, 01 Sep 2025 14:00:06 +0000

Picture this: You and your spouse spend decades building a successful business, accumulating assets, and creating a stable life for your family. You think you’ve done everything right with your estate planning. Then tragedy strikes, and a simple paperwork error costs your children $1.5 million in taxes they never should have owed. This isn’t a […]

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When Every Dollar Counts: How Labor Day Reminds Us That Life & Legacy Planning Is More Essential Than Ever

Gregory Smith — Mon, 25 Aug 2025 14:56:24 +0000

Labor Day has always been about honoring the American worker—the people who build our communities, power our economy, and create the foundation of our society. But this year, as we fire up our grills and enjoy that long weekend, there’s an elephant in the room that deserves our attention. For millions of working families, every […]

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The Cost of a Cheap Plan: Why “Bargain” Estate Planning Often Costs the Most

Gregory Smith — Mon, 25 Aug 2025 14:21:30 +0000

I had an interesting conversation with a potential client last week. After explaining my Life & Legacy Planning® process, she said, “This all sounds great, but my friend told me I can get a trust done for half the price somewhere else.” I hear this fairly often, and I completely understand the concern. Nobody wants […]

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When Fame Can’t Fix Family: What Hulk Hogan’s Estate Teaches Us About Failed Planning

Gregory Smith — Mon, 18 Aug 2025 14:47:27 +0000

When wrestling legend Hulk Hogan died at age 71, the world lost an icon. But behind the headlines about his estimated $25 million estate and decades of wrestling fame lies a heartbreaking family story that offers powerful lessons for anyone with people they love. This story demonstrates that wealth and fame can’t substitute for the kind of […]

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Why Estate Documents Fail: The Hidden Truth About Traditional Estate Planning

Gregory Smith — Mon, 11 Aug 2025 14:41:09 +0000

You hired a lawyer, signed your estate planning documents, and filed them safely away. Or maybe your financial advisor created your documents, or you might have done them yourself online, for free using AI. You think your work is done. But then you die, and your loved ones are left battling court delays, family conflict, […]

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“It Has Been Such a Good Life”: The Legacy Your Loved Ones Need

Gregory Smith — Mon, 04 Aug 2025 14:31:49 +0000

When Anna Harp lost her father, Rudolph Clausing, she didn’t get to say goodbye. It was January 2021, during the height of the COVID-19 pandemic. Her dad had been battling lung disease when he contracted the virus, and strict hospital protocols meant his family couldn’t be by his side in his final days. Anna was […]

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Nobody Prepared Me for This! The Reality of Managing Inherited Real Estate

Gregory Smith — Mon, 28 Jul 2025 14:00:27 +0000

You’ve just lost someone important to you, and now you’re responsible for their home. Maybe it’s sitting empty while you figure out what to do next. Maybe you’re planning to sell it, or perhaps other family members want to move in eventually. Whatever your plans, you’re about to discover that an empty house needs almost […]

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100 Heirs, $17 Billion, and 1 Big Estate Plan: What You Can Learn from a Tech Billionaire

Gregory Smith — Mon, 21 Jul 2025 14:00:06 +0000

Imagine you’re worth $17 billion and have over 100 biological children—some born through relationships, others through anonymous sperm donations. What would your estate plan look like? More importantly, what could go wrong if you didn’t have one? In a recent interview with Le Point magazine, Pavel Durov, the co-founder of Telegram, revealed exactly that. Durov, […]

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The Life-or-Death Decisions Your Family Shouldn’t Have to Make Alone

Gregory Smith — Mon, 14 Jul 2025 14:10:49 +0000

When you think about estate planning, you probably picture wills, trusts, and who gets what. But what happens when decisions are made about your body, without your full consent or when you’re not really gone? A recent federal investigation uncovered a chilling truth: in dozens of cases, patients showed signs of life even as hospital […]

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The One Big Beautiful Bill: What It Means for Your Family’s Financial Future

Gregory Smith — Mon, 14 Jul 2025 14:00:32 +0000

The massive tax legislation known as the “One Big Beautiful Bill” (“OBBB”) became law on July 4, 2025, brings sweeping changes that will affect nearly every American family. While much of the media attention has focused on the political drama surrounding its passage, what really matters is how these changes impact your family’s financial security […]

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When Paradise Turns to Pain: Jimmy Buffett’s Estate Battle

Gregory Smith — Mon, 07 Jul 2025 14:51:26 +0000

Jimmy Buffett built an empire around the laid-back “Margaritaville” lifestyle, but his $275 million estate has become anything but relaxing for his family. The legendary singer’s widow and his longtime business manager are now locked in a bitter legal battle that could have been avoided with better planning and communication. In this article, you’ll discover […]

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Life, Liberty, and Legacy: How Life & Legacy Planning Promotes Independence

Gregory Smith — Mon, 30 Jun 2025 14:29:13 +0000

Every Fourth of July, we celebrate more than fireworks and barbecues. We honor the bold vision of people who refused to accept the status quo and instead created a framework for lasting freedom. The Declaration of Independence wasn’t just a document—it was a comprehensive plan that established principles, assigned responsibilities, and created structures to protect […]

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A Texas Mail Carrier’s Act of Love Shows Why Your Pets Need a Plan Too

Gregory Smith — Mon, 23 Jun 2025 14:00:24 +0000

When Ian Burke, a mail carrier from Destin, Texas, heard that Floyd—a 70-pound dog he’d befriended on his delivery route—had ended up in a shelter after his owner’s death, he didn’t hesitate. Burke arrived at the City of Denton Animal Shelter before it opened to be first in line to adopt Floyd and give him […]

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Breaking the Cycle: How Life & Legacy Planning Protects Black Families’ Generational Wealth

Gregory Smith — Mon, 16 Jun 2025 14:00:51 +0000

The statistics are sobering. According to the Federal Reserve’s 2022 Survey of Consumer Finances, the wealth gap between white Americans and Black Americans is approximately $241,120. This disparity didn’t happen by accident. It’s the result of centuries of policies and practices that systematically prevented Black Americans from building and preserving wealth. From slavery and Jim […]

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Heads Up! Major Tax Changes on the Horizon

Gregory Smith — Mon, 09 Jun 2025 14:00:30 +0000

The House recently passed what many are calling “One Big, Beautiful Bill” that could reshape the tax landscape for individuals and businesses. While it still needs to pass the Senate, and the President sign it into law, understanding these potential changes now gives you time to prepare and potentially benefit from new opportunities. Check back […]

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This Father’s Day Take Your Provision One Step Further

Gregory Smith — Mon, 09 Jun 2025 14:00:23 +0000

Father’s Day arrives each June filled with barbecues, baseball games, and heartfelt cards celebrating the dads who shape our lives. While ties and tool sets make thoughtful gifts, what if we turn the tables altogether and put the family resources toward a far more meaningful gift this Father’s Day—one that helps dad feel confident that […]

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Pride Month & Planning: Securing a Legacy That Lasts

Gregory Smith — Mon, 02 Jun 2025 14:00:38 +0000

As Pride Month begins, we celebrate the progress made toward equality while acknowledging that LGBTQIA+ individuals, couples, and families still face unique legal challenges. Despite the landmark decision in Obergefell v. Hodges that established marriage equality nationwide, gaps in legal protection remain that can affect everything from healthcare decisions to inheritance rights. Having proper estate […]

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The Missing Will Mystery: How Zappos CEO’s Estate Chaos Could Have Been Avoided

Gregory Smith — Mon, 26 May 2025 14:00:16 +0000

Imagine this: You’ve built a business empire worth hundreds of millions of dollars, transformed a city’s downtown area, and touched countless lives with your vision and generosity. Then, unexpectedly, you pass away—and nearly five years later, a will you may have created suddenly appears. Meanwhile, your family has been battling creditors, former associates, and mounting […]

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Beyond Remembrance: How Memorial Day Can Inspire Leaving Your Own Legacy

Gregory Smith — Mon, 19 May 2025 14:00:39 +0000

Memorial Day isn’t just about barbeques or pool parties. It’s a day to collectively pause and honor the brave men and women who made the ultimate sacrifice for our freedom and security. As flags wave at half-staff and solemn ceremonies unfold across the country, this day of remembrance naturally guides our thoughts toward our own […]

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Why Business Owners Deserve More Than an Easy or Cheap Estate Plan

Gregory Smith — Mon, 12 May 2025 14:00:37 +0000

Picture this: you’ve just set up your estate plan using a quick and easy online DIY form or a budget-friendly legal service. Or, maybe your financial advisor drafted it for you for a nominal fee while creating your financial plan. These options promise ease and convenience and at a fraction of the cost of hiring […]

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A Mother’s Legacy: Estate Planning as Your Greatest Expression of Love

Gregory Smith — Mon, 05 May 2025 14:00:40 +0000

When we think about Mother’s Day, we often picture breakfast in bed, handmade cards, and bouquets of fresh flowers. But what if there was a way for mom to express her love and care that extends far beyond their lifetime? This is where thoughtful estate planning enters the picture—not as a cold legal process, but […]

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The Death Tax Repeal Act of 2025: What It Could Mean for You and Your Loved Ones

Gregory Smith — Mon, 28 Apr 2025 14:00:21 +0000

Have you ever worked your entire life to build something valuable, only to worry about a significant portion being taken away after your death, and before it gets to the people you love? That’s the reality many American families face when thinking about the estate tax – sometimes called the “death tax.” There’s a legislative […]

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10 Guardian Mistakes That Could Put Your Kids at Risk (And How to Do It Right)

Gregory Smith — Mon, 21 Apr 2025 14:00:16 +0000

Imagine this: something unexpected happens, and you’re suddenly unable to care for your children. It’s a parent’s worst nightmare. In this situation, you’d want to know that your kids will be loved, cared for, and raised according to the values you hold dear. But have you taken the right legal steps to ensure that happens? […]

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The $700 Million Mistake: Why an Asset Inventory Is an Essential Part of Your Estate Plan

Gregory Smith — Mon, 14 Apr 2025 14:12:37 +0000

Imagine accidentally throwing away $700 million. While it sounds like the plot of a movie, this nightmare scenario has become a reality for James Howells, a computer engineer from Wales, who has now spent more than a decade fighting to recover a discarded hard drive containing the private key to his Bitcoin fortune. Here’s what […]

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Gene Hackman’s Estate: A Wake-Up Call

Gregory Smith — Mon, 07 Apr 2025 14:01:21 +0000

The recent passing of legendary actor Gene Hackman has revealed a complicated estate situation that serves as a powerful warning for everyone – married couples especially – regardless of your net worth. Whether you have significant assets or just want to ensure your wishes are honored during your lifetime and you don’t leave a mess […]

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Why Reviewing Your Trust Regularly Isn’t Optional—It’s Essential

Gregory Smith — Mon, 31 Mar 2025 14:17:12 +0000

You’ve taken the important step of creating an estate plan, and it includes a trust—congratulations! This shows you care deeply about keeping your family out of court and conflict, ensuring your wishes are known and honored, and you do not want to leave behind a mess for the people you love. Great work. But here’s […]

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Beyond the FDIC Safety Net: Protecting Your Cash When Your Savings Exceed Insurance Limits

Gregory Smith — Mon, 24 Mar 2025 14:21:15 +0000

Imagine this: You’ve spent decades carefully saving money, building a comfortable nest egg that represents years of hard work and discipline. One morning, you’re sipping coffee and browsing the news when headlines about a bank failure catch your eye. Your stomach drops as you realize a significant portion of your savings could be at risk […]

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Til Death Do Us Part? Why Unmarried Couples Must Have An Estate Plan That Works For the People They Love

Gregory Smith — Mon, 17 Mar 2025 14:43:59 +0000

Love in the 21st century takes many forms, and for a growing number of couples, “forever” doesn’t always include a marriage license. While a deeply personal choice, being unmarried adds layers of legal and financial complexity that can’t be ignored, especially when it comes to protecting your assets and loved ones. Imagine this: you’ve built […]

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Planning a Trip? Protect Your Children with a Kids Protection PlanⓇ

Gregory Smith — Mon, 10 Mar 2025 14:05:55 +0000

As Spring Break approaches, followed by summer, you’re likely focused on planning the perfect getaway with your children – booking flights, reserving hotels, and mapping out exciting activities. But there’s one crucial aspect of travel planning that often gets overlooked: ensuring your children’s safety and care if something unexpected happens to you during your trip. […]

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Protecting Your Rights: Estate Planning Strategies for Same-Sex Couples

Gregory Smith — Mon, 03 Mar 2025 15:17:36 +0000

The political landscape is shifting, and many same-sex couples are worried about what could happen if federal protections for their marriages are rolled back. You’ve worked hard to build a life together, and the last thing you need is uncertainty about whether your marriage, your assets, or your rights will be recognized in the future. […]

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Estate Planning During Divorce: Lessons from Shannen Doherty’s Legacy

Gregory Smith — Mon, 24 Feb 2025 15:51:31 +0000

The July 2024 passing of beloved Gen X actress Shannen Doherty offers important lessons about estate planning during divorce. Known for her iconic roles in “Beverly Hills, 90210,” “Heathers” and “Charmed,” Doherty not only faced a courageous and public battle with breast cancer but also raced against time to finalize her divorce and protect her […]

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The Unexpected Challenges of Being an Estate Executor

Gregory Smith — Mon, 17 Feb 2025 15:11:38 +0000

When someone asks you to be the executor of their estate, it might seem like a straightforward responsibility – distribute assets according to their will and handle some paperwork. However, as many executors discover, the role involves far more complexity, time, and emotional labor than expected. Understanding these challenges now can help you better prepare, […]

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The Valentine’s Gift That Truly Matters

Gregory Smith — Mon, 10 Feb 2025 15:11:39 +0000

As Valentine’s Day approaches, you might be thinking about flowers, chocolates, or a romantic dinner. And hey, those are all great (who doesn’t love a little chocolate?). But what if I told you there’s a way to show your love that lasts far longer than roses and holds far more meaning than any box of […]

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Trusts & Homeowner’s Insurance: What You Need to Know So You Don’t Get a Claim Denied In the Future

Gregory Smith — Mon, 03 Feb 2025 15:07:07 +0000

When you create an estate plan that includes a living trust, you’ve taken an essential step toward protecting your home and family from the cost of court. However, many people don’t realize that placing their home in a trust requires updating their homeowner’s insurance policy. Without this crucial step, you could face a devastating scenario: […]

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National Unclaimed Property Day: Why Estate Planning is More Than Just Documents

Gregory Smith — Mon, 27 Jan 2025 15:09:23 +0000

Every year on February 1st, we observe National Unclaimed Property Day – a reminder of the staggering $60 billion in forgotten and abandoned assets currently held by state governments across America. And this isn’t just spare change we’re talking about. These are life insurance policies, forgotten bank accounts, uncashed checks, retirement funds, and other valuable […]

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From Preparation to Recovery: When Disaster Strikes

Gregory Smith — Mon, 20 Jan 2025 15:28:34 +0000

When disaster strikes, time is your most precious resource. Whether it’s a wildfire, hurricane, or flood, being ready to act can make all the difference for you and your loved ones. Having a clear plan helps you stay calm and focused during emergencies. In this article, I will walk you through how to prepare for […]

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4 Estate Planning Myths That Put Your Loved Ones at Risk

Gregory Smith — Mon, 13 Jan 2025 15:48:16 +0000

Surveys conducted in 2024 by Caring.com and Ameriprise Financial revealed a troubling trend: Americans are falling behind on estate planning. The Caring.com survey revealed that only 32% of Americans have a will – a 6% decline from 2023. The Ameriprise survey found that 52% of couples lack estate plans. These statistics highlight a dangerous disconnect […]

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Five Essential Steps to Protect Your Loved Ones in 2025

Gregory Smith — Mon, 06 Jan 2025 15:16:46 +0000

You know that uneasy feeling when you think about what everyone you love would do, if (and when) something happens to you? That nagging voice reminding you that you still haven’t created a will or trust or updated the estate plan you do have? As we enter 2025, it’s time to stop pushing those thoughts […]

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Estate Planning Meets FAFSA: Smart Strategies for Asset Ownership

Gregory Smith — Mon, 30 Dec 2024 15:58:33 +0000

When preparing for college expenses, understanding how financial aid and estate planning intersect can make a significant difference. This article will break down the essentials of how asset ownership influences aid eligibility, offer actionable strategies to increase the chances of receiving aid, and highlight estate planning tools that can protect your wealth while optimizing support […]

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BOI/CTA UPDATE: Appeals Court Reinstates – Then Suspends – Corporate Transparency Act Filing Requirement

Gregory Smith — Mon, 30 Dec 2024 15:47:07 +0000

UPDATE: Many recent changes have occurred related to the Corporate Transparency Act (“CTA”) and the requirement for all business owners to disclose their personal information to the US government. Here’s what’s transpired since a Texas federal court first suspended the CTA filing deadline on December 3, 2024: On December 23, 2024, the 5th Circuit Court […]

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Actions to Take Before 2024 Ends to Qualify for Specific Tax Credits

Gregory Smith — Mon, 23 Dec 2024 15:04:23 +0000

The end of the year can feel overwhelming, but it’s also a time to set yourself up for credits and deductions that can put real money back in your pocket come tax time this April. From the Earned Income Tax Credit to residential energy improvements and even adopting a child, there are a wealth of […]

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Year-End Options for Giving to Charity

Gregory Smith — Mon, 16 Dec 2024 15:33:47 +0000

The desire to make a difference doesn’t end when we’re gone. For many people, incorporating charitable giving into their estate plan provides a way to support causes they care about while creating a lasting legacy. Whether you want to establish a scholarship fund, support medical research, or help your local community, thoughtful charitable planning can […]

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Court Ruling Halts Corporate Transparency Act: What You Need to Know

Gregory Smith — Mon, 09 Dec 2024 15:59:08 +0000

A federal judge in Texas issued a ruling this week that could affect millions of business owners across the country. Let’s break down what this means for you and your business. The Ruling and Its Immediate Impact On December 3, 2024, a federal court issued a nationwide preliminary injunction blocking the Corporate Transparency Act (CTA) […]

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Common Estate Planning Questions Part 2 of 2

Gregory Smith — Mon, 09 Dec 2024 15:40:53 +0000

When it comes to planning for your family’s future, the options can feel overwhelming. Should you get a will? Create a trust? And what happens if you do nothing at all? These aren’t just academic questions – your choices today will impact your loved ones tomorrow. In this second installment of a two-part Q & […]

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Common Estate Planning Questions Part 1 of 2 – On How to Handle Your Assets

Gregory Smith — Mon, 02 Dec 2024 15:19:56 +0000

When it comes to estate planning, I get many questions about many topics. One of the most common questions I hear concerns account ownership and asset management. Understanding how accounts are titled and who has access to them isn’t just about convenience—it’s about ensuring your assets transfer smoothly to your loved ones while protecting them […]

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Lessons from Tony Bennett’s Estate Battle

Gregory Smith — Mon, 25 Nov 2024 15:50:23 +0000

When legendary singer Tony Bennett passed away in July 2023, he left behind an estimated $100 million estate and, unfortunately, a family divide threatening to tarnish his legacy. His daughters Antonia and Johanna Bennett are now suing their brother, Danny, who serves as trustee of their father’s estate, alleging a lack of transparency and potential […]

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Beyond the Turkey: How Thanksgiving Can Inspire Your Family Legacy Planning

Gregory Smith — Mon, 18 Nov 2024 15:55:11 +0000

As Thanksgiving approaches, many families are busy planning menus, coordinating travel, and preparing for the big feast. While the turkey, stuffing, and pumpkin pie are important (and delicious) traditions, this cherished holiday offers something even more valuable—a perfect opportunity to think about, discuss, and preserve your family’s legacy. In this article, you’ll discover practical ways […]

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The Hidden Truth About Settling a Loved One’s Estate

Gregory Smith — Mon, 11 Nov 2024 15:23:46 +0000

When someone names you as their executor, it might feel like an honor – a sign that they trust you to handle their final affairs. However, what many people don’t realize is that being an executor can turn into a demanding part-time (or full-time) job that lasts months or even years, often during a time […]

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Veterans: Your Legacy is Worth Protecting

Gregory Smith — Mon, 04 Nov 2024 15:45:07 +0000

As we approach Veterans Day, we pause to honor the brave men and women who have served our nation with unwavering dedication. Your military service demonstrated a profound commitment to protecting America’s future – and now it’s time to protect your family’s future through thoughtful estate planning I call Life & Legacy Planning. Just as […]

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Shelley Duvall and What We Can All Learn From Her Death

Gregory Smith — Mon, 28 Oct 2024 14:21:15 +0000

Shelley Duvall, best known for her role as Wendy Torrance in The Shining, passed away recently at the age of 75. While her acting legacy continues to captivate fans, her passing reveals important lessons about estate planning that everyone can learn from. In case you haven’t read about what’s happened to her estate since she died, […]

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Common Estate Planning Myths Debunked

Gregory Smith — Mon, 21 Oct 2024 14:28:23 +0000

October 21-27 is National Estate Planning Awareness Week, which means it’s time to shed light on this often misunderstood and frequently avoided topic. You might think estate planning is only for the wealthy or too complicated and expensive. These are just a few myths surrounding estate planning that I hear often. In reality, estate planning […]

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A Comprehensive Guide to Disaster Preparedness

Gregory Smith — Mon, 14 Oct 2024 14:59:03 +0000

In today’s world, where natural disasters and unforeseen events can disrupt our lives at a moment’s notice, preparedness is no longer a luxury; it’s a necessity. So to make sure you and your loved ones are prepared for any emergency situation, I’ve created this comprehensive guide to provide a strong foundation for your financial security […]

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Navigating End-of-Life Care: Lessons from a Daughter’s Tragic Experience

Gregory Smith — Mon, 07 Oct 2024 14:45:29 +0000

In an aging society, you might find yourself facing difficult end-of-life decisions for your loved ones sooner than you expect. And when you do, you’ll realize the journey through end-of-life care is rarely straightforward. A recent and heartbreaking story published by Maggie Schneider Huston in Newsweek illustrates this fact. In this article, I’ll highlight key […]

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A Power of Attorney May Not Be What You Think

Gregory Smith — Mon, 30 Sep 2024 14:10:23 +0000

If you’ve ever considered planning for your future or helped someone plan for theirs, you’ve probably heard the term “power of attorney.” But do you really know what it is? The terms “power” and “attorney” carry weight but may not mean what you think. In fact, there are many misconceptions about what a power of […]

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Preventing Family Feuds Over Your Personal Belongings

Gregory Smith — Mon, 23 Sep 2024 14:15:15 +0000

The passing of a loved one is a heartbreaking event, filled with grief and sorrow. But the aftermath can become even more painful if disagreements over their personal belongings tear your family apart. These disputes, especially when centered around meaningful objects, can leave lasting wounds that may never fully heal. But it doesn’t have to […]

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Matthew Perry’s Estate Plan Demonstrates the Benefits of Trusts

Gregory Smith — Mon, 16 Sep 2024 14:25:46 +0000

When Matthew Perry, the beloved star of Friends, passed away last year, the world mourned the loss of a comedic icon. However, as details of his estate began to emerge, a curious puzzle presented itself: despite his reported net worth of $120 million, his bank account held (only) $1.5 million. Admittedly, this seems like a […]

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What Do Lasagna and Estate Planning Have in Common?

Gregory Smith — Mon, 09 Sep 2024 14:56:59 +0000

Have you ever heard horror stories about families fighting over Grandma’s jewelry or getting stuck in a never-ending legal battle after someone passes away? Or about how long it can take to sell a house tied up in the court process? What about family members being denied their inheritance completely? Unfortunately, these situations happen every […]

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3 Questions to Ask Yourself Before Creating Your Estate Plan With AI

Gregory Smith — Mon, 02 Sep 2024 14:04:00 +0000

Have you jumped on the AI bandwagon yet? If so, you’ve probably used it to make your life easier. AI can be incredibly helpful, especially when the stakes are low. Need a personalized meal plan or an exercise routine? AI can handle that. But when it comes to estate planning, some people use AI for […]

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Labor Day Reflections and Your Legacy

Gregory Smith — Mon, 26 Aug 2024 14:32:36 +0000

Labor Day, observed in the United States on the first Monday in September, is not only the unofficial end of summer but also a celebration of the contributions and achievements of American workers. Originating from the labor movement and the quest for better working conditions, Labor Day also provides an opportunity to think about your […]

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How Beneficiary Designations Put Your Family at Risk

Gregory Smith — Mon, 19 Aug 2024 14:04:10 +0000

You’ve worked hard to build your assets and secure your family’s future. Like many responsible adults, you’ve named beneficiaries on your retirement accounts, life insurance policies, and maybe even your banking and investment accounts. It feels good to know you’ve put something in place for your loved ones. But here’s the truth many financial advisors, […]

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Would $23,000 Make a Difference to You?

Gregory Smith — Mon, 12 Aug 2024 14:31:06 +0000

Imagine discovering thousands of dollars that belong to you, only to be told you can’t have it. This frustrating scenario became a reality for a woman named Dale Benerofe, a Georgia resident, when she found $23,000 in unclaimed property from her deceased parents. Her tragic story sheds light on a little-known issue that affects millions […]

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Would You Make This Million Dollar Mistake?

Gregory Smith — Mon, 05 Aug 2024 14:45:10 +0000

Imagine this: You’re in your twenties, just starting your career. You fill out a form at work, naming your live-in significant other as the beneficiary of your retirement account. You start contributing to your retirement account, and it begins to grow. Fast forward 28 years – you’ve long since ended that relationship, lived a full […]

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Celebrity Estate Plans Series Part 4 of 4: Elvis and the Scammers

Gregory Smith — Mon, 29 Jul 2024 14:07:52 +0000

For the last few weeks, we’ve discussed celebrities and how they planned for their deaths. We started with the King of Pop, Michael Jackson, so ending our 4-part series with the King of Rock, Elvis Presley, seems fitting. You may be wondering why I’ve chosen to talk about a man who’s been dead since 1977. […]

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Celebrity Estate Plans Series Part 3 of 4: Jay Leno’s Case is No Laughing Matter

Gregory Smith — Mon, 22 Jul 2024 14:08:46 +0000

For the last two weeks, we’ve discussed celebrities and how they planned (or didn’t!) for their deaths. In this third installment of our four-part celebrity series, we discuss a topic that no one wants to think about as it may seem to be a fate worse than death: incapacity. Unlike death, not everyone will become […]

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Celebrity Estate Plans Series Part 2 of 4: Vanilla Ice Has Thoughts

Gregory Smith — Mon, 15 Jul 2024 14:30:07 +0000

This week, we’re continuing to look at the lives of 4 celebrities and how they’re preparing for the inevitable (or didn’t!). Last week, we examined Michael Jackson’s planning and the holes in his plan that resulted in his family being embroiled in court and conflict for 15 years and counting (if you missed it, go […]

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Celebrity Estate Plans Series Part 1 of 4: Michael Jackson

Gregory Smith — Mon, 08 Jul 2024 14:37:50 +0000

What is it about celebrities that always draws us in? For whatever reason, we just can’t resist a good, juicy celebrity story. Maybe it’s because we can relate in some way, or maybe we feel like we can’t relate and that’s what makes celebrities interesting. Their lives always seem attractive but somehow… just out of […]

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Value Freedom? Here’s Why an Estate Plan Is Your Declaration of Independence

Gregory Smith — Mon, 01 Jul 2024 14:05:04 +0000

As you celebrate the Fourth of July and all it represents – freedom, independence, and the pursuit of happiness – take pride in the ultimate American liberty: the right to decide your own affairs, even after death or in the event of incapacity. An estate plan, specifically a Life & Legacy Plan, is the way […]

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The Surprising Connection Between Men’s Health and Estate Planning

Gregory Smith — Mon, 24 Jun 2024 14:47:44 +0000

June marks Men’s Health Month, a time dedicated to raising awareness about health issues predominantly affecting men and encouraging the early detection and treatment of disease among men and boys. So this month, let’s turn the focus to you, gentlemen. You already know that taking care of your health allows you to prolong your life […]

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They’re Not Kids Anymore! Navigating Your Child’s Transition Into Adulthood

Gregory Smith — Mon, 17 Jun 2024 14:01:17 +0000

When your child turns 18, they’re legally considered an adult even though they have a lot more growing to do (though they may not think so!). Just like any other adult, their health and financial information is protected by privacy laws. But unlike any other adult, that’s still your child and you want to be […]

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Father Knows Best: Avoiding Common Estate Planning Pitfalls

Gregory Smith — Mon, 10 Jun 2024 14:07:33 +0000

If you’re a father, you’ve always strived to provide the best for your family, ensuring their well-being and securing their future. However, even the most well-intentioned plans can falter if you overlook the complexities of estate planning. So this Father’s Day, let’s celebrate all of you dads and explore some common pitfalls that fathers often […]

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Protecting Your LGBTQIA+ Family: A Pride Month Guide to Estate Planning for Non-Biological Parents

Gregory Smith — Mon, 03 Jun 2024 14:56:23 +0000

As an LGBTQIA+ non-biological parent, June’s arrival sparks a flurry of Pride celebrations reminding you of the remarkable progress the community has made, while also shining a light on the ongoing fight for full equality. One area where you may still face unique legal hurdles is in ensuring your parental rights are properly protected, if […]

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Memorial Day Reflections: Crafting Your Lasting Legacy With Estate Planning

Gregory Smith — Mon, 27 May 2024 14:13:05 +0000

Memorial Day brings with it an opportunity to reflect on the concepts of mortality, remembrance, and legacy. As we remember the brave men and women who lost their lives serving in the military, may this day also inspire you to think about the legacy you wish to leave behind. But, first, what is a legacy, […]

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10 Steps to Take Now to Secure a Comfortable Retirement: Part 2

Gregory Smith — Mon, 20 May 2024 14:13:35 +0000

Welcome back to our discussion on securing a comfortable retirement! In the first part of this series, we explored essential steps including estate planning, preparing for long-term care, and passing on your legacy. As we continue with the second part of our series, we’ll delve into additional areas that are crucial for ensuring your golden […]

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10 Steps to Take Now to Secure a Comfortable Retirement: Part 1

Gregory Smith — Mon, 13 May 2024 14:22:21 +0000

Retirement is more than just an end to the working years; it’s an exciting new phase of life that requires thoughtful preparation and strategic planning. Since May is Older Americans Awareness Month, it’s the perfect opportunity to explore 10 steps you can take now to ensure a comfortable and fulfilling retirement. In this article, we’ll […]

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Estate Planning: A Gift of Peace and Power for Every Mother

Gregory Smith — Mon, 06 May 2024 14:33:33 +0000

Moms spend their days and nights thinking about how to make sure their children are happy, healthy, and safe. If you’re a mom, you know. If you aren’t a mom, you were born because of a mom. It’s one of the two things we all have in common. So, as Mother’s Day approaches, let’s talk […]

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The Dark Side of the Internet: Protect Yourself From Online Scams and Digital Attacks

Gregory Smith — Mon, 29 Apr 2024 14:41:19 +0000

In the digital age, online scams and cyber attacks are becoming more frequent, posing risks to not only everyday users but also to lawyers who manage clients’ sensitive information. But there’s no need to fear if you take measures to keep your data safe. And if (when?) you’re working with a lawyer, you should also […]

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What Happens To Your Social Media Account When You Die?

Gregory Smith — Mon, 22 Apr 2024 14:44:36 +0000

When you die, what happens to your online life? Each social media platform has its own rules for dealing with the accounts of deceased users, ranging from permanent deletion to transforming accounts into places for mourning and memory. Understanding these options is essential for managing digital assets responsibly and respecting your wishes. So let’s take […]

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Why Estate Planning Is the Best Use of Your Tax Refund

Gregory Smith — Mon, 15 Apr 2024 14:10:51 +0000

When that extra bit of money from your tax refund lands in your bank account, (kinda feels like Christmas, doesn’t it?) it’s easy to start dreaming about all the ways you can use it. Financial experts may tell you that it’s a chance to pay off debts, tuck away savings for an emergency, or add to […]

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Navigating the World of Cryptocurrency: A Guide for Parents and Teens

Gregory Smith — Mon, 08 Apr 2024 14:29:47 +0000

In an era where digital innovation shapes every aspect of our lives, it’s no surprise that our teenagers are drawn to the allure of cryptocurrency. This digital form of money represents a shift away from traditional financial systems. If you are the parent of teens, understanding cryptocurrency is crucial so you can provide them with […]

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Improve Your Financial Fitness and Grow Your Business With Confidence

Gregory Smith — Mon, 01 Apr 2024 14:49:26 +0000

Embarking on the entrepreneurial journey is akin to setting out on an uncharted adventure. It’s filled with unknowns, challenges, and the occasional surprise twist. While physical fitness often gets the spotlight with its glossy gym selfies and trendy workout regimes, there’s a quieter, more calculated player in the game of success: financial fitness. We aren’t […]

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April Fools! How DIY Wills and Trusts Offer a False Sense of Security … and May Leave Your Family With an Expensive Mess

Gregory Smith — Mon, 01 Apr 2024 14:32:16 +0000

If you’ve been traveling around the sun for a while, you’ve no doubt heard of a Will, a document that says what happens to your money and belongings after you die. You may even have a Will, or know you should get one. And maybe you’ve heard of a Trust and wondered what it is […]

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Parents, Step-Parents and Children Oh My! Blended Families + Death = A Potential Nightmare

Gregory Smith — Mon, 25 Mar 2024 14:45:50 +0000

Anyone who’s seen an episode of “Modern Family” knows that families these days come in many different shapes and sizes. Long gone are the days when a “family” was defined as a mother, father and two children (or was it 2.5 children? Where does the .5 come from anyway?). In this article, we’ll focus on […]

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Till Death or Divorce: Why You Need to Plan Now for Your Relationship’s End

Gregory Smith — Mon, 18 Mar 2024 14:31:46 +0000

After the excitement of Valentine’s Day fades away and the last indulgence of chocolate is savored, it’s crucial to turn our attention to a topic that may not be as thrilling as the idea of everlasting love: the reality that all relationships come to an end one day. Before you stop reading, hear me out. […]

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3 Estate Planning Documents Your Parents Need Right Now

Gregory Smith — Mon, 11 Mar 2024 14:32:40 +0000

Today, we’re diving into a topic that is absolutely crucial: estate planning for your parents. As they gracefully navigate their golden years, ensuring their peace of mind (and yours!) becomes a top priority. Whether they raised you the way you want, or showed you how you want to do it differently, as your parents’ age, […]

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14 Ways to Show Your Finances Some Love This Year – Part 2

Gregory Smith — Mon, 04 Mar 2024 15:03:03 +0000

Last week we explored 7 ways to show your finances and your family some love with smart, tax-advantaged financial tips for the new year: Make a Qualified Charitable Distribution (QCD) Front-load Your 401(k) Contributions Set Up an IRA for a Child Make Donations During Spring Cleaning Give the Gift of Appreciated Stock Shares Establish a […]

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14 Ways to Show Your Finances Some Love This Year – Part 1

Gregory Smith — Mon, 26 Feb 2024 15:36:01 +0000

Ah, February – the month of love, where hearts flutter and chocolates abound (single people, stay with me here). But amidst the romantic whirlwind, there’s a different kind of love that deserves our attention: the love we show ourselves and our family through thoughtful financial planning. Now I know what you’re thinking – that doesn’t […]

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Think Your Kids Will Automatically Be Cared For In the Way You Want? They Might Not Be Unless You Do This

Gregory Smith — Mon, 19 Feb 2024 15:48:35 +0000

As parents, we’re hardwired to prioritize our children’s well-being above all else. We work tirelessly to provide for them, nurture them, and ensure they have every opportunity to thrive. Yet, amidst the hustle and bustle of daily life, it’s easy to overlook a crucial aspect of their future: what happens to them if we’re no […]

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This New Law Makes It Easier to Save for Retirement and Pay Off School Loans At The Same Time

Gregory Smith — Mon, 12 Feb 2024 15:55:06 +0000

Navigating your financial journey with the heavy burden of student loan debt on your back can feel overwhelming. You’re faced with a critical decision: should you prioritize paying down those loans, or should you focus on the future, contributing to your workplace retirement plan? It’s a tough call, especially when choosing loan payments means missing […]

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Want to Show Your Partner How Much You Love Them? Put Them In Your Will

Gregory Smith — Mon, 05 Feb 2024 15:44:35 +0000

Love is undoubtedly the most profound and cherished thread that weaves us all together, and there are many different ways to express our love to the people who mean the most to us. Often when we think of showing our love, we think of bouquets of flowers, surprise gifts, and meaningful notes. But an often […]

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2 Conversations About Money and Death You Need to Have With Your Parents Right Now

Gregory Smith — Mon, 29 Jan 2024 15:44:47 +0000

If you’ve given any thought about estate planning, you probably associate it with preparing for death. But did you know that there are critical reasons (and significant benefits) for planning while you’re still well and alive? That’s why I refer to my services as Life & Legacy Planning. When done right, planning for your assets […]

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Protecting Your Family’s Safety Net: How to Set Up Your Life Insurance Policy The Right Way

Gregory Smith — Mon, 22 Jan 2024 15:43:12 +0000

A comprehensive Life & Legacy Plan is about creating a strategy that lets you enjoy your life to the fullest while protecting your loved ones’ future when you can no longer be there. It might seem like life insurance is an easy way to help secure your loved ones’ future – and it is – […]

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This Change to The FAFSA Rules Could Help Your Grandkids Qualify for More Student Aid

Gregory Smith — Mon, 15 Jan 2024 15:49:04 +0000

Want to contribute to your grandchild’s future college education? The FAFSA Simplification Act, which went into effect last month, now makes it possible for grandparents to do even more to help finance their grandchild’s education. In the past, any contributions or distributions from a grandparent’s 529 college savings plan were subject to FAFSA reporting, potentially […]

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Your Most Important New Year’s Resolution: Creating a Kids Protection Plan

Gregory Smith — Mon, 08 Jan 2024 15:35:37 +0000

As we welcome the New Year, filled with hope and resolutions for a brighter future, one commitment should be at the top of your list– creating a Kids Protection Plan™. It can be hard to think about a future where you couldn’t be there for your children, but having a plan in place will ensure that […]

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Hiring a Lawyer: What Flat Fees, Hourly Fees and Retainer Billing Could Mean For Your Life and Family

Gregory Smith — Mon, 01 Jan 2024 15:45:22 +0000

Trying to find the right lawyer to help with legal matters, especially if you are under the gun in a crisis situation, but even if you aren’t, can often feel like navigating uncharted waters. You want to find an attorney you like who will understand your family’s needs, but you also have to consider the […]

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What Caregivers Need to Know About Estate Planning for a Loved One With Dementia – Part 2

Gregory Smith — Sat, 23 Dec 2023 15:23:36 +0000

Last week, we started our discussion on estate planning for a loved one with a dementia diagnosis and what this means for their ability to protect their wishes through an estate plan. We covered: What it means to have mental capacity or be incapacitated How dementia affects capacity for estate planning purposes The essential estate […]

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What Caregivers Need to Know About Estate Planning for a Loved One With Dementia – Part 1

Gregory Smith — Mon, 18 Dec 2023 15:43:40 +0000

Caring for a loved one with dementia is a challenge that millions of families undertake each year. As a caregiver, understanding how a dementia diagnosis affects your loved one’s legal decision-making is crucial to ensuring their wishes are honored and that you are providing them with the best possible care. In this blog, we’ll explore […]

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Holding Space for Grief: Ways to Comfort and Support A Loved One in Mourning

Gregory Smith — Mon, 11 Dec 2023 15:13:54 +0000

Losing a loved one is an incredibly challenging experience, and the journey through grief can be both complex and overwhelming. Unfortunately, we all experience grief at one time or another, and knowing how to manage your own grief and how to be there for others who are grieving is an important skill that can improve […]

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Have Unused 529 College Savings? Roll Them Into a Roth in 2024

Gregory Smith — Mon, 04 Dec 2023 15:47:15 +0000

In December 2022, Congress passed the SECURE 2.0 Act, bringing significant changes to the world of retirement savings and student loans. Two key parts of the Secure 2.0 Act are set to take effect in 2024, and they could substantially impact your family’s financial future. In this blog, we explain how the new law affects […]

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Own a Business? Do This By December 31st to Get a Year-Long Extension To The Corporate Transparency Act Reporting Deadline

Gregory Smith — Mon, 27 Nov 2023 15:29:41 +0000

Business ownership is a fulfilling and exciting endeavor, but it also comes with rules, responsibilities, and reporting requirements that can be hard to track. If you own a small business or have a Trust that owns a business interest, you’ll need to comply with the Corporate Transparency Act (CTA) come January. Beginning January 1, 2024, […]

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What You Must Know About Your Right to Your Spouse’s Retirement Benefits

Gregory Smith — Mon, 20 Nov 2023 15:55:38 +0000

If you’re part of a blended family (meaning you are married with children from a prior marriage in the mix), you’re no stranger to the extra considerations and planning it takes to keep your family’s life running smoothly – from which parent your children will be with for the holidays to figuring out the schedule […]

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How to Talk Money With Your Family Over The Holidays

Gregory Smith — Mon, 13 Nov 2023 15:24:47 +0000

The holidays are right around the corner, which means more time to gather with family and relatives than any other time of the year. If you’ve been meaning to talk to your family about money, inheritance, end-of-life decisions, estate planning, and creating a plan for your whole family’s wealth – now and in the future […]

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Transition to Adulthood: What Happens Legally When My Child Turns 18?

Gregory Smith — Mon, 06 Nov 2023 15:24:14 +0000

Soon after the challenges of puberty and the excitement of high school, an even larger milestone looms: the 18th birthday. It marks your child’s transition from childhood to adulthood, and with it new responsibilities and rights. From a legal standpoint, this milestone also brings significant changes that every parent should be aware of. In the […]

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The Scary Truth: Naming Godparents Does Not Create Legal Guardians

Gregory Smith — Mon, 30 Oct 2023 14:02:38 +0000

As a parent, your top priority is the well-being and future of your children. You plan for their education, health, and happiness, and often this planning includes the tradition of choosing godparents to guide and mentor your children if something happens to you. While selecting godparents is a meaningful tradition in many cultures, it’s important […]

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Year-End Tax Planning Starts Now: 8 Things To Do Now to Lower Your 2023 Taxes – Part 2

Gregory Smith — Mon, 23 Oct 2023 14:28:43 +0000

Last week we looked at four different ways to lower your tax liability for 2023, from adjusting your tax withholding to strategically planning your medical procedures. In this week’s blog, we discuss four more tax-saving methods you can use right now to owe fewer taxes come April 2024. If you missed part 1 of this […]

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Year-End Tax Planning Starts Now: 8 Things To Do Now to Lower Your 2023 Taxes – Part 1

Gregory Smith — Mon, 16 Oct 2023 14:19:00 +0000

It might seem a bit early to think about your 2023 taxes, but as the year draws to a close, it’s the perfect time to take a closer look at your financial situation and make some strategic moves that can help you minimize your tax liability come April. Year-end tax planning isn’t something you do […]

The post Year-End Tax Planning Starts Now: 8 Things To Do Now to Lower Your 2023 Taxes – Part 1 appeared first on Family Legacy Planning.

Flu Season Fundamentals: How to Keep Seniors Safe This Fall

Gregory Smith — Mon, 09 Oct 2023 14:43:24 +0000

The fall season is a beautiful time of year, but it also marks the beginning of flu season, which can pose a serious threat to your elderly loved ones. Fortunately, there are several steps you can take to ensure their well-being during the colder days ahead, including making sure you’re able to step in and […]

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Got Minor Kids? 3 Instances When Your Estate Plan Must Include A Kids Protection Plan®

Gregory Smith — Mon, 02 Oct 2023 14:23:33 +0000

As a parent, you have probably thought about the importance of naming permanent legal guardians for your child in case something happens to you, and maybe you have already done it. If you haven’t yet, take this as the sign that now’s the time to do it, in case the unthinkable happens to you. Here’s […]

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From ‘I Do’ to ‘What If’: Estate Planning Must-Do’s for Newlyweds – Part 2

Gregory Smith — Mon, 25 Sep 2023 14:59:01 +0000

Getting married and starting a new chapter in your life is an exciting time. It’s also a time that requires a lot of housekeeping such as updating your address if your marriage includes a move, changing your tax filing status with your employer, and adding your new spouse to your bank and credit card accounts. […]

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From ‘I Do’ to ‘What If’: Estate Planning Must-Do’s for Newlyweds – Part 1

Gregory Smith — Mon, 18 Sep 2023 14:15:49 +0000

Wedding season is winding down, and if you are a newlywed or are planning to tie the knot soon, it’s time to make your first legal move as a married couple – creating an estate plan. With all the joy and happiness a new marriage brings, planning for your potential incapacity and future death may […]

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Got Intellectual Property? Include It In Your Estate Plan

Gregory Smith — Mon, 11 Sep 2023 14:47:19 +0000

You don’t have to be a famous producer or household name to own intellectual property. If you create music, own a business, write stories, or build gadgets in your garage, you almost certainly have intellectual property. However, because intellectual property is intangible, it’s often overlooked in estate planning. And if you do have intellectual property, […]

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Help Your Parents Avoid These New Financial Scams – Part 2

Gregory Smith — Mon, 04 Sep 2023 14:36:41 +0000

In part one of this series, we explored two popular scams that are targeting older adults this year: the grandparent scam, and cryptocurrency pickpocketing. In this week’s blog, I’m sharing two more scams that you and your parents need to be aware of, plus tips for staying protected. Let’s dive in. 3. PERSONALIZED PHISHING EMAILS […]

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AARP and The Red Cross Celebrate Make-A-Will Month, But Here’s What They Didn’t Tell You

Gregory Smith — Mon, 28 Aug 2023 14:45:26 +0000

August is National Make-A-Will Month and you may have received an advertisement in your inbox or mailbox from AARP or the American Red Cross reminding you to get your Will taken care of this month. Both AARP and the Red Cross promoted their partnerships with FreeWill.com, a website that claims to help you create a […]

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Help Your Parents Avoid These New Financial Scams – Part 1

Gregory Smith — Mon, 21 Aug 2023 14:40:59 +0000

Fraudsters and scam artists are nothing new, but changing tools and technology are making it easier than ever for scammers to target their victims, especially seniors. To protect your aging parents (or yourself) from these con artists, it’s crucial to equip yourself with the knowledge of how these scams work and what your loved ones […]

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Can You Rely on Legal Insurance for Your Estate Plan?

Gregory Smith — Mon, 14 Aug 2023 14:07:38 +0000

As the need for affordable legal services becomes even more important in today’s world, it’s common to opt for group legal insurance offered through your workplace benefits. These group insurance plans provide free legal assistance for a variety of needs from law firms that have contracted with the insurance company to provide the legal work. […]

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Don’t Send Your Kids Back to School Without These Documents

Gregory Smith — Mon, 07 Aug 2023 14:30:41 +0000

As summer comes to a close, and back-to-school excitement fills the air, there is one crucial task that is often overlooked: designating legal guardians for your minor children. Legal guardians are the individuals you entrust with the care of your children if, for any reason, you are unable to do so yourself. In the hustle […]

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10 Life Events That Signal It’s Time to Review Your Estate Plan – Part 2

Gregory Smith — Mon, 31 Jul 2023 14:50:55 +0000

You might think that estate planning is something you can complete one time and then check off your to-do list for good. But the reality is that in order for your estate plan to work for you no matter how your life changes, your plan needs to change with it. To make sure any big […]

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10 Life Events That Signal It’s Time to Review Your Estate Plan – Part 1

Gregory Smith — Mon, 24 Jul 2023 14:25:59 +0000

Maybe you thought that creating a Will or Trust is something you can do once and then your family and assets are protected forever after. It seems to be how most lawyers structure their services, so it wouldn’t be surprising if you did think this. You work with your lawyer, they draft documents, you bring […]

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What the National Debt Ceiling Extension Means for Your Family

Gregory Smith — Mon, 17 Jul 2023 14:56:51 +0000

You’ve probably heard about the national debt ceiling and its recent extension, but you might wonder what it has to do with your everyday life as a family. While it may seem like a distant matter, the national debt ceiling extension can have a significant impact on your family’s financial well-being and future planning. So […]

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Awakened Planning: How to Talk About Estate Planning at Your Family Reunion

Gregory Smith — Mon, 10 Jul 2023 14:04:03 +0000

July is National Family Reunion Month and the perfect time to reconnect with family from near and far, share life’s updates, and reminisce about the wonderful memories you share together. If you’re getting together with family this month, it’s also a perfect time to talk to your loved ones about your shared goals, family resources […]

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Estate Planning Pitfalls – 3 Mistakes That Could Make Your Estate Plan Worthless

Gregory Smith — Mon, 03 Jul 2023 14:42:11 +0000

Including a Trust as part of your estate plan is a smart decision. It allows you to avoid probate, maintain privacy, and distribute your assets to your loved ones while also providing them with a lifetime of asset protection, if you choose it for them. But, here’s the thing you might not know, and is […]

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Vacation Ready: Essential Legal Preparations for a Worry-Free Getaway

Gregory Smith — Mon, 26 Jun 2023 14:53:57 +0000

Vacations are a time to relax, unwind, and create beautiful memories with your loved ones. But before you set off on your adventure, it’s essential to ensure that your legal affairs are in order so you can fully relax during your travels. Can’t imagine doing one more thing before you take some much-needed time away? […]

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Have a Trust? How the Corporate Transparency Act Affects You

Gregory Smith — Mon, 19 Jun 2023 14:41:52 +0000

Get ready for an interesting twist in the world of legal and business news. You may already be familiar with the upcoming Corporate Transparency Act, set to kick in next year. If you aren’t, it’s time to get in the know because it could impact you, and if you it does, you’ll need support. Starting […]

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The Importance of Customized Estate Planning for LGBTQ+ Relationships – Part 2

Gregory Smith — Mon, 12 Jun 2023 14:06:16 +0000

Last week we started the discussion of why it’s so important for LGBTQ+ families to invest in custom estate planning. While major strides for LGBTQ+ rights have been made in recent years, estate planning law is still written with hetero, cisgender couples in mind, which means that your wishes and your rights may not be […]

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The Importance of Customized Estate Planning for LGBTQ+ Relationships – Part 1

Gregory Smith — Mon, 05 Jun 2023 14:18:58 +0000

June is a time of celebration and reflection for the LGBTQ+ community as Pride Month shines a spotlight on the progress made in the fight for equal rights. While significant strides have been made, such as the legalization of same-gender marriage and increased recognition of LGBTQ+ families, there is still a large gap in estate […]

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Capturing the Stories of Aging Loved Ones: The Power of a Family Wealth Legacy Interview

Gregory Smith — Mon, 29 May 2023 14:43:43 +0000

May is Senior Citizen’s Month, a time to reflect and appreciate all the things the seniors in our lives have done for us. Whether they are our parents, grandparents, or elderly friends, our seniors have given us so much over the years. But sometimes seeing your loved ones aging or seeing how you’ve aged yourself […]

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Want to Grow Wealth? Warren Buffet’s Unexpected Investment Advice

Gregory Smith — Mon, 22 May 2023 14:33:50 +0000

If you are going to take investment and estate planning advice from anyone, Warren Buffett is likely one you want to consider. As one of the most successful investors in history, his track record speaks for itself. However, his wisdom goes beyond picking stocks and making money. At this year’s Berkshire Hathaway annual shareholder meeting, […]

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Why “Just a Will” Is Never Enough

Gregory Smith — Mon, 15 May 2023 14:27:33 +0000

When you think of estate planning, a Will is usually the first thing that comes to mind. In fact, most people who contact me tell me they don’t need anything complicated for their estate- just a Will. Indeed, Wills have a reputation as the number one estate planning tool and can be seen all over […]

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Create a Stronger Blended Family Through Estate Planning

Gregory Smith — Mon, 08 May 2023 14:01:27 +0000

Blended families were once considered “non-traditional” families, but today, blended families are becoming just as common as non-blended families. Currently, 52% of married couples (or unmarried couples who live together) have a step-kin relationship of some kind, and 4 in 10 new marriages involve remarriage. If you’re part of a blended family, you’ve probably recognized […]

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4 Ways to Use AI to Make Life Easier for You and Your Family

Gregory Smith — Mon, 01 May 2023 14:28:18 +0000

Whether you’re turning on the news or scrolling through Instagram, it’s hard not to hear about AI technology, so this week I wanted to take some time to cover what the buzz is about and how you can use this technology to make your own life easier. AI (artificial intelligence) language models like ChatGPT and […]

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Leaving Your Pet in Your Will Won’t Protect Them – Do This Instead

Gregory Smith — Mon, 24 Apr 2023 14:39:14 +0000

If you’re a pet owner, you know the special bond that exists between you and your pets, and to many pet owners, our furry friends aren’t just a pet – they’re a loved and important part of our families. So if you’re thinking about how best to provide for your family after you die or […]

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Stephen “tWitch” Boss Dies Without a Will

Gregory Smith — Mon, 17 Apr 2023 14:37:10 +0000

Stephen Laurel Boss, also known as “tWitch,” was an American DJ, hip-hop dancer, choreographer, television producer, and actor whose personality lit up the stage on So You Think You Can Dance and as a producer and frequent guest host on The Ellen Degeneres Show. Boss also co-hosted the TV show Disney’s Fairy Tale Weddings alongside […]

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3 Simple Mistakes That Can Derail Your Estate Plan

Gregory Smith — Mon, 10 Apr 2023 14:30:40 +0000

If you’re tempted to use a DIY estate planning service or have already created a plan you aren’t 100% confident in, be sure to read how these three simple mistakes can derail your estate plan and leave your family with an expensive mess. We regularly meet with clients who ask us to review an estate […]

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Estate Planning Before You Travel: Why It’s Critically Important

Gregory Smith — Mon, 27 Mar 2023 14:56:38 +0000

Vacations can be the perfect opportunity to relax, disconnect from work and responsibilities, and enjoy your spouse, partner, kids’ or friend’s company. But before you head off on your next getaway, there’s something else you should consider doing that might not sound quite as fun—creating an estate plan. While it may not sound like the most […]

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Why Everyone Needs to Keep Their Estate Plan Updated

Gregory Smith — Mon, 20 Mar 2023 14:32:39 +0000

As the world and its laws continue to evolve, everyone needs to keep their estate plans up to date. An estate plan is a set of documents, such as a will or trust, that dictate how assets will be distributed upon death or incapacity. An individual’s current legal and financial situation should be considered to […]

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Obtaining A Power Of Attorney For Elderly Parents

Gregory Smith — Mon, 13 Mar 2023 14:01:56 +0000

Making important decisions for aging parents can be a challenging task, but power of attorney (POA) can provide peace of mind and clarity in times of need. POA enables individuals to make crucial decisions on behalf of their parents, such as managing their finances or making medical decisions, when they are unable to do so […]

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Your Rights As The Parent Of A Young Adult — What You Need To Know When A Medical Crisis Hits

Gregory Smith — Mon, 06 Mar 2023 15:03:18 +0000

As a parent, you are quite accustomed to managing your children’s legal and medical affairs, as circumstances require. If your child requires urgent medical attention while away from you, a simple phone call authorizing care can do the trick. But what happens when those “children” turn 18, now adults in the eyes of the law, […]

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Keep the Government and Lawsuit Happy Opportunists Away From Your Children’s Inheritance

Gregory Smith — Mon, 27 Feb 2023 15:57:22 +0000

If you have a current estate plan, I’ll bet you plan to leave your assets to your children outright and unprotected by age 35, or maybe a little later. Go take a look at your estate plan, and see what it does right now. And, if you don’t have an estate plan, and you have […]

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5 Reasons Why Shopping For The Cheapest Estate Plan Could Leave Your Family With An Unintended Mess

Gregory Smith — Mon, 20 Feb 2023 15:05:14 +0000

In most cases, from the most sophisticated business people with the highest net worth to those just starting in the workforce and on their path to adulthood, you very likely do not know how to evaluate estimates when shopping for an estate plan. Shopping for an estate plan based on getting the lowest cost plan […]

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Will Your Estate Plan Work When Your Family Needs It?

Gregory Smith — Mon, 13 Feb 2023 15:58:42 +0000

Like most people, you likely think estate planning is just one more task to check off your life’s endless “to-do” list. You can shop around and find a lawyer to create planning documents for you or create your own DIY plan using online documents. Then, you’ll put those documents into a drawer, mentally check estate […]

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Before You Agree to Be a Trustee, Read This!

Gregory Smith — Mon, 06 Feb 2023 15:34:44 +0000

Being asked by a loved one to serve as Trustee for their Trust upon their death can be quite an honor, but it’s also a significant responsibility—and the role is not for everyone. Indeed, serving as a Trustee entails a broad array of duties, and you are both ethically and legally required to execute those […]

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4 Common Mistakes Made On Life Insurance Beneficiary Designations

Gregory Smith — Mon, 30 Jan 2023 15:18:06 +0000

Investing in life insurance is a foundational part of estate planning, and when done right it’s a primary way to say “I love you” to your loved ones after you are gone. However, when naming your policy’s beneficiaries, several mistakes can lead to potentially dire consequences for the people you’re investing to protect and support. The […]

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What Happens To Your Debt When You Die?

Gregory Smith — Mon, 09 Jan 2023 15:16:17 +0000

Maybe you’ve wondered about your own debt or perhaps your parent’s debt—what happens to that debt when you (or they) die? Well, it depends, and that’s part of the reason you want to ensure your estate plan is well prepared. How you handle your debt can greatly impact the people you love. In some cases, […]

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3 Essential Questions to Ask Before Creating Your Will Online

Gregory Smith — Mon, 02 Jan 2023 15:41:32 +0000

If you are looking to create your last will and testament, or will, online, you’ll find dozens of websites that let you prepare a variety of estate planning documents for very little money, and even for free. With so many do-it-yourself online document services out there, you might believe you can create your will online, […]

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Checklist: 5 Financial Decisions to Consider Before December 31

Gregory Smith — Mon, 26 Dec 2022 15:43:01 +0000

This week, before the year ends, consider these 5 financial, retirement and tax actions you may need to take before it’s either too late or very costly for your family. And, if you have living parents in their 70s, make sure you cover these considerations with them this week.. 1. Review Your Investments to Harvest […]

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Green Funerals: 6 Eco-Friendly Options For Your Remains

Gregory Smith — Mon, 19 Dec 2022 15:33:05 +0000

The environmental costs of death are significant and constantly rising. With 8 billion people on the planet right now—all of whom have bodies that die and must be disposed of—we need to start seriously considering alternatives to traditional options for burial and cremation. Fortunately, more and more “green” options are being developed to reduce these […]

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Will The Coming Wealth Transfer Be A Blessing Or A Curse For Your Family?

Gregory Smith — Mon, 12 Dec 2022 15:06:18 +0000

Whether it’s called “The Great Wealth Transfer,” “The Silver Tsunami,” or some other catchy sounding name, it’s a fact that a tremendous amount of wealth will pass from Baby Boomers to younger generations in the next few decades. In fact, it’s said to be the largest transfer of intergenerational wealth in history. Because no one […]

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4 Year-End Tax-Saving Strategies For 2022

Gregory Smith — Mon, 05 Dec 2022 15:33:48 +0000

Although the end of the year can be a hectic time, it’s also the deadline for your family to implement a number of key tax-savings strategies. By taking action now, you can significantly reduce your tax bill due in April, but with just a few weeks left in 2022, you better act fast. While there […]

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How Will A Recession Affect Your Family?

Gregory Smith — Mon, 28 Nov 2022 15:22:46 +0000

As you’ve surely heard by now, we’re in the midst of great economic shifts. The collapse of the crypto market, the roller coaster that is the stock market, rising interest rates, dropping home values, and inflation through the roof—it’s enough to make you sick. And it can make you sick unless you take the actions […]

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7 Issues to Consider When Purchasing Disability Insurance

Gregory Smith — Mon, 21 Nov 2022 15:02:45 +0000

If you earn a good living now, but you worry about not having enough money for a future time when you cannot work due to illness or injury, disability insurance is your answer. However, you need to make sure you are getting an insurance policy that will meet your needs and not waste your money. […]

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How To Manage Your Digital Accounts After Your Death—Part 3

Gregory Smith — Mon, 14 Nov 2022 15:03:35 +0000

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 […]

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How to Manage Your Digital Accounts After Your Death—Part 2

Gregory Smith — Mon, 07 Nov 2022 15:48:41 +0000

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How To Manage Your Digital Accounts After Your Death—Part 1

Gregory Smith — Mon, 31 Oct 2022 14:19:07 +0000

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Trusts & Taxes: What You Need To Know

Gregory Smith — Mon, 24 Oct 2022 14:56:15 +0000

People often come to us curious — or confused — about the role trusts play in saving on taxes. Given how frequently this issue comes up, here we’re going to explain the tax implications associated with different types of trusts in order to clarify this issue. Of course, if you need further clarification about trusts, […]

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2022 ESTATE PLANNING CHECKUP: IS YOUR ESTATE PLAN UP-TO-DATE?

Gregory Smith — Mon, 17 Oct 2022 14:06:23 +0000

This year, Estate Planning Awareness Week runs from October 17th to 23rd, and one of our primary goals is to educate you on the vital importance of not only preparing an estate plan, but also keeping your plan up-to-date. While you almost surely understand the importance of creating an estate plan, you may not know […]

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5 SMART WAYS TO PAY FOR YOUR FUNERAL THAT WON’T LEAVE YOUR FAMILY TO FOOT THE BILL

Gregory Smith — Mon, 10 Oct 2022 14:39:31 +0000

With the cost of a funeral averaging between $7,000 and $12,000 and steadily increasing each year, at the very least your estate plan should include enough money to cover this final expense. And if you are thinking of simply setting aside money in your will to cover your funeral expenses, you should seriously reconsider, as […]

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ANNE HECHE DIES WITH CONFLICT AROUND HER WILL, LEAVING HER SONS & ESTATE IN LEGAL LIMBO—PART 2

Gregory Smith — Mon, 03 Oct 2022 14:32:52 +0000

Actress Anne Heche died this August following a tragic car accident, leaving behind two young sons: Homer Heche Laffoon, age 20, and Atlas Heche Tupper, age 13. Last week, in part one, we covered the way uncertainty around Heche’s estate plan is creating conflict among her loved ones and resulting in her estate going through […]

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ANNE HECHE DIES WITH CONFLICT AROUND HER WILL, LEAVING HER SONS & ESTATE IN LEGAL LIMBO—PART 1

Gregory Smith — Mon, 26 Sep 2022 14:35:39 +0000

Actress Anne Heche died this August following a tragic car accident in which she plowed her vehicle into a West Los Angeles home, where it burst into flames. After being pulled from the wreckage, the Emmy Award-winning actress was hospitalized in critical condition, suffering from severe burns and smoke inhalation. The fiery accident left Heche […]

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President Biden’s Student Debt Relief Plan Explained With FAQs

Gregory Smith — Mon, 19 Sep 2022 14:34:01 +0000

This August, President Biden, Vice President Harris, and the U.S. Department of Education (DOE) announced a three-part plan to help low and middle-income families deal with the increasingly burdensome cost of paying for college, while also making the student loan system more efficient and easier for borrowers to manage. The most dramatic part of the […]

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Selling Real Estate Or A Business? Avoid Capital Gains Tax With A Charitable Remainder Trust

Gregory Smith — Mon, 12 Sep 2022 14:28:45 +0000

If you have a sale of real estate or assets coming up that will result in you owing capital gains tax, you may want to give us a call to discuss whether to set up a Charitable Remainder Trust (CRT) first. Think of it this way: would you rather pay taxes and send your hard-earned […]

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Protect Your Aging Loved Ones From Undue Influence

Gregory Smith — Mon, 05 Sep 2022 14:19:05 +0000

Following the death of a loved one, close family members are sometimes surprised to learn that they didn’t receive the inheritance they were expecting, and that the deceased instead left most of their estate to an individual they only recently met, who wasn’t even a relative. While it’s not always the case, in some situations […]

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What Your Last Will & Testament Will (And Will Not) Do—Part 2

Gregory Smith — Mon, 29 Aug 2022 14:09:59 +0000

August is “National Make-A-Will Month,” and if you have already prepared your will, congratulations—too few Americans have taken this key first step in the estate planning process. In fact, only 33% of Americans have created their will, according to Caring.com’s 2022 Wills and Estate Planning Study. Yet, while having a will is important—and all adults […]

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What Your Last Will & Testament Will (And Will Not) Do—Part 1

Gregory Smith — Mon, 22 Aug 2022 14:53:12 +0000

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3 Critical Considerations For How To Save For Your Child’s (or Grandchild’s) College Education – Part 2

Gregory Smith — Mon, 15 Aug 2022 14:22:16 +0000

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 […]

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3 Critical Considerations For How To Save For Your Child’s (or Grandchild’s) College Education—Part 1

Gregory Smith — Mon, 08 Aug 2022 14:21:06 +0000

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. Here’s what we think you should consider as you decide: First, consider whether you want your offspring to have broader options than just the traditional […]

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4 Essential Strategies For Protecting Your Family’s Assets

Gregory Smith — Mon, 01 Aug 2022 14:47:21 +0000

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 […]

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How Estate Planning Can Reduce The High Cost Of Dying—Part 2

Gregory Smith — Mon, 25 Jul 2022 14:32:29 +0000

Despite the fact that it happens to every single one of us and is as every bit as natural as birth, very few among us are properly prepared for death—whether our own death or the death of a loved one. Yet the pandemic might be changing this. According to Census figures, the pandemic caused the U.S. […]

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How Estate Planning Can Reduce The High Cost Of Dying—Part 1

Gregory Smith — Mon, 18 Jul 2022 14:13:11 +0000

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5 Common Estate Planning Concerns For Your Second (Or More) Marriage

Gregory Smith — Mon, 11 Jul 2022 14:51:53 +0000

With divorce occurring in roughly 50% of all marriages in the U.S. and life expectancy increasing every day, second—and even third—marriages are becoming quite common. And when people get remarried in mid-life and beyond, they often bring children from prior marriages into the mix. Such unions are often referred to as a “blended” family or […]

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What You Need to Know About Collecting Life Insurance Proceeds

Gregory Smith — Mon, 04 Jul 2022 14:26:35 +0000

If you’re looking to collect life insurance proceeds as the policy’s beneficiary, the process is fairly simple. However, during the emotional period immediately following a loved one’s death, it can feel as if your entire world is falling apart, so it’s helpful to understand exactly what steps you need to take to access the insurance […]

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Estate Planning FAQs For LGBTQ+ Couples

Gregory Smith — Mon, 27 Jun 2022 14:49:57 +0000

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 overturning Roe v. Wade, ending 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 […]

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3 Reasons Why Single Folks With No Children Need An Estate Plan

Gregory Smith — Mon, 20 Jun 2022 14:13:52 +0000

These days, more and more young people are delaying—if not totally foregoing—a life that involves marriage and parenting. The lack of jobs, crushing student debt, multiple recessions, and the pandemic have pushed many young people into a life path that leaves little room for settling down with a partner and getting married—and even less room […]

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If You’ve Been Asked To Serve As Trustee, Here’s What You Should Know

Gregory Smith — Mon, 13 Jun 2022 14:03:49 +0000

If a family member or friend has asked you to serve as trustee for their trust either during their life, or upon their death, it’s a big honor—this means they consider you among the most honest, reliable, and responsible people they know. That said, serving as a trustee is not only a great honor, it’s […]

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How To Pass On Family Heirlooms & Keepsakes Without Causing A Family Feud

Gregory Smith — Mon, 06 Jun 2022 14:59:47 +0000

When creating an estate plan, people are often most concerned with passing on the “big things” like real estate, bank accounts, and vehicles. Yet these possessions very often aren’t the items that have the most meaning for the loved ones we leave behind. Smaller items, like family heirlooms and keepsakes, which may not have a […]

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Don’t Let Your Kids Leave Home Without Signing These 3 Documents

Gregory Smith — Mon, 30 May 2022 14:34:50 +0000

As we head into summer, many parents will see their children graduate high school and prepare to leave home to attend college or pursue other life goals. This can be an exciting and emotional time, and with so much going on, estate planning probably isn’t at the front of your (or their) mind right now. […]

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Key Milestones For Planning Your Retirement

Gregory Smith — Mon, 23 May 2022 14:54:38 +0000

The road to retirement is a long one, and as with any journey, it helps to have a few key milestones along the way to help gauge your progress. While your individual retirement plan and goals will be unique to your income, family situation, and desired lifestyle, most Americans share a number of common retirement […]

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10 Common Estate Planning Mistakes Your Family Can’t Afford to Make—Part 2

Gregory Smith — Mon, 16 May 2022 14:52:54 +0000

Because estate planning involves actively thinking about and planning for frightening topics like death, old age, and crippling disability, many people put it off or simply ignore it all together until it’s too late. Sadly, this unwillingness to face reality often creates serious hardship, expense, and trauma for those loved ones you leave behind. To […]

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10 Common Estate Planning Mistakes Your Family Can’t Afford to Make—Part 1

Gregory Smith — Mon, 09 May 2022 14:08:52 +0000

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How Creating A Life & Legacy Plan With Us Creates And Preserves Your Family’s Legacy

Gregory Smith — Mon, 02 May 2022 14:11:31 +0000

When you think about loved ones who’ve passed away, you probably don’t think very much—or even at all—about the “things” they’ve left you. And when they do leave something behind, what you likely cherish most about the object are the memories and feelings the item evokes, not the thing itself. For the founder and CEO […]

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3 Reasons Why Transferring Ownership Of Your Home To Your Child Is A Bad Idea

Gregory Smith — Mon, 25 Apr 2022 14:14:31 +0000

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. With this in mind, before […]

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How Naming Guardians For Your Kids In Your Will Can Leave Them At Risk

Gregory Smith — Mon, 18 Apr 2022 14:41:13 +0000

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 […]

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Does Your Family Need Umbrella Insurance?

Gregory Smith — Mon, 11 Apr 2022 14:46:54 +0000

In today’s highly litigious society you are at near-constant risk for costly lawsuits—even if you’ve done nothing wrong. This is especially true if you have substantial wealth, but even those with relatively few assets can find themselves in court facing a potentially devastating lawsuit. If you are sued, your traditional homeowners or auto insurance will […]

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Protect Your Children’s Inheritance With A Lifetime Asset Protection Trust

Gregory Smith — Mon, 04 Apr 2022 14:33:50 +0000

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 […]

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7 Last-Minute Moves To Save On Your Taxes For 2021

Gregory Smith — Mon, 28 Mar 2022 14:13:47 +0000

Although many strategies to save on your income taxes must be locked in before the end of the year, there are still numerous ways you can reduce your tax bill right up until the filing deadline, which has been pushed back to Monday April 18th due to a holiday on April 15th. Some of these […]

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Probate: What It Is & How To Avoid It—Part 2

Gregory Smith — Mon, 21 Mar 2022 14:54:58 +0000

Unless you’ve created an estate plan that works to keep your family out of court, when you die (or become incapacitated) many of your assets must go through 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 […]

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Probate: What It Is & How To Avoid It—Part 1

Gregory Smith — Mon, 14 Mar 2022 14:56:45 +0000

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 […]

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Protect Your Home, Family, & Assets From The Growing Threat Of Natural Disasters

Gregory Smith — Mon, 07 Mar 2022 15:16:13 +0000

Over just the last two years, we’ve seen historic levels of damage caused by natural disasters in the U.S. From blizzards in Texas and wildfires in California to hurricanes in Louisiana and tornados in the Midwest, few regions of the country are immune to such catastrophes. And based on the latest data from the United […]

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What To Expect From Your Initial Meeting With Us Your Personal Family Lawyer®

Gregory Smith — Mon, 28 Feb 2022 15:24:49 +0000

Whether you’ve met with an estate planning lawyer before or it’s your first time, it’s important to understand how working with us, your Personal Family Lawyer® is different from meeting with a traditional lawyer. Here we will explain what’s involved with our process, in hopes that it will inspire you to meet with us, your […]

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Updating Your Estate Plan For Divorce: 5 Changes To Make

Gregory Smith — Mon, 21 Feb 2022 15:24:55 +0000

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. […]

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4 Reasons Why Estate Planning Is So Essential For Business Owners

Gregory Smith — Mon, 14 Feb 2022 15:02:12 +0000

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 […]

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Purchasing Life Insurance For Your Family: What You Need To Know

Gregory Smith — Mon, 07 Feb 2022 15:27:30 +0000

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 […]

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Don’t Leave Your Children With The Babysitter Until You Read This

Gregory Smith — Mon, 31 Jan 2022 15:14:10 +0000

As we head into the third year of the pandemic, we are coming to terms with just how fragile our lives and health really are. If you haven’t gotten sick yourself, it’s almost certain you know someone who has, and many of us even know of one or more individuals who have died in the […]

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5 Ways DIY Estate Plans Can Fail & Leave Your Family At Risk—Part 2

Gregory Smith — Mon, 24 Jan 2022 15:37:26 +0000

Do a Google search for “digital wills” or “online estate planning,” and you’ll find dozens of different websites offering low-cost, do-it-yourself (DIY) and sometimes even free estate planning documents, such as wills, trusts, powers of attorney, and healthcare directives. From LegalZoom® and Rocket Lawyer® to TrustandWill.com and FreeWill.com, these DIY legal documents may seem like […]

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5 Ways DIY Estate Plans Can Fail & Leave Your Family At Risk—Part 1

Gregory Smith — Mon, 17 Jan 2022 15:33:15 +0000

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Preventing Family Conflict And Disputes Over Your Estate Plan

Gregory Smith — Mon, 10 Jan 2022 15:04:33 +0000

No matter how well you think you know your loved ones, it’s impossible to predict exactly how they’ll behave when you die or if you become incapacitated. No one wants to believe that their family members would ever end up fighting one another in court over inheritance issues or a loved one’s life-saving medical treatment, […]

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One of The Greatest Gifts To Your Family Is The Plan For Incapacity

Gregory Smith — Mon, 03 Jan 2022 15:49:59 +0000

When it comes to estate planning, most people automatically think about taking legal steps to ensure the right people inherit their stuff when they die. Although that thought is not wrong, it also leaves out a very important piece of planning for life, and perhaps the most critical part of planning. Planning that’s focused solely […]

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Why Putting Your Family Home In A Trust Is A Smart Move—Part 2

Gregory Smith — Mon, 27 Dec 2021 15:26:16 +0000

If you are like many homeowners, your home is likely your family’s most valuable and treasured asset. In light of this, you want to plan wisely to ensure your home will pass to your heirs in the most efficient and safe manner possible when you die or in the event you become incapacitated by illness […]

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How to Pass Down Your Family Wealth Legacy During The Holidays

Gregory Smith — Mon, 20 Dec 2021 15:26:56 +0000

As you likely already know, but may not have given much thought about, the most important inheritance you provide is so much more than the money you’ll leave behind, but also includes your values, insights, stories, and experience. And, while those things are being passed on happenstance on the daily, we know that intentionally creating […]

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Why Putting Your Family Home In A Trust Is A Smart Move—Part 1

Gregory Smith — Mon, 13 Dec 2021 15:14:30 +0000

The post Why Putting Your Family Home In A Trust Is A Smart Move—Part 1 appeared first on Family Legacy Planning.

The Basics On NFTs: The Newest Cryptoverse Craze

Gregory Smith — Mon, 06 Dec 2021 15:33:04 +0000

NFTs, or “non-fungible tokens,” are the latest sensation in the cryptocurrency universe, or as we like to call it the “Cryptoverse.” And if you haven’t heard about NFTs yet, now is a great time to learn because they are likely to be a big part of our collective future. So what is an NFT? In […]

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10 Things You Should Know About Living Wills

Gregory Smith — Mon, 22 Nov 2021 15:32:24 +0000

When it comes to estate planning, you’ve most likely heard people mention a couple of different types of wills. The most common is a “last will and testament,” which is also known simply as a “will.” But you may have also heard people talk about what’s called a “living will.” Both terms describe important legal […]

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FAQs About Long-Term Care Insurance

Gregory Smith — Mon, 22 Nov 2021 15:16:35 +0000

Our nation’s population is aging at a faster rate than ever before, and collectively we are living much longer than in the past. In fact, by 2034, seniors (age 65 and older) will outnumber children under age 18 for the first time in U.S. history, according to Census Bureau projections. With the booming aging population, […]

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Think You Are Too Young to Need An Estate Plan? Think Again

Gregory Smith — Mon, 15 Nov 2021 15:45:55 +0000

The pandemic has caused Americans to change their behavior in a number of different ways, and one of the most positive of these changes is related to estate planning. For the first time since the study’s inception, Caring.com’s 2021 Wills and Estate Planning Study found that young adults are now more likely to have an […]

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Estate Planning Must Haves for Parents – Even If You Have Legal Documents

Gregory Smith — Mon, 08 Nov 2021 15:49:48 +0000

A comprehensive estate plan can protect the things that matter most. For many, this means their property and their family. Including provisions for the care of your children in your estate plan is essential for peace of mind. But many parents struggle with including such provisions as naming a legal guardian for their child in […]

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2021 Estate Planning Checkup: Is Your Estate Plan Up to Date?

Gregory Smith — Mon, 01 Nov 2021 14:27:39 +0000

Even if you put a totally solid estate plan in place, it can turn out to be worthless for the people you love if it’s not regularly updated. Estate planning is not a one-and-done type of deal—your plan should continuously evolve along with your life circumstances and other changing conditions, such as your assets and […]

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How Estate Planning Can Bring Blended Families Closer

Gregory Smith — Mon, 25 Oct 2021 14:07:22 +0000

Yours, mine and ours … in today’s modern family, it’s oh so common. The blended family is the product of 2nd (or more) marriages, in which one or more of the parties comes with children from a prior marriage. And then, they may even go on to have children together. If you have or are […]

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Why You Need a Trust – Even if You Aren’t Rich

Gregory Smith — Mon, 18 Oct 2021 14:47:49 +0000

When you hear the words, “trust fund,” do you conjure up images of stately mansions and party yachts? A trust fund – or trust – is actually a great estate planning tool for many people with a wide range of incomes who want to accomplish a specific purpose with their money. Simply put, a trust […]

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With Tax Laws in Flux: What Should You Do Now?

Gregory Smith — Mon, 11 Oct 2021 14:11:18 +0000

On September 13, 2021, Democrats in the House of Representatives released a new $3.5 trillion proposed spending plan that includes a wide array of changes to federal tax laws. Specifically, the Democrats proposed a number of significant tax increases and other changes to fund the plan, including increases to personal income tax rates and the […]

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House Democrats Propose Sweeping New Changes To Tax Laws That Stand To Have Major Impact On Estate Planning—Part 1

Gregory Smith — Mon, 04 Oct 2021 14:19:58 +0000

On September 13, 2021, Democrats in the House of Representatives released a new $3.5 trillion proposed spending plan that includes a wide array of changes to federal tax laws. Specifically, the Democrats have proposed a number of significant tax increases and other changes to fund the plan, including increases to personal income tax rates and […]

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A Not-So-Happy Accident: Bob Ross’s Estate Planning Failures Leave His Son With Next to Nothing—Part 2

Gregory Smith — Mon, 27 Sep 2021 14:39:46 +0000

As the host of the wildly popular The Joy of Painting TV series on PBS, Bob Ross became a pop-culture icon, who was equally famous for his giant head of hair, soothing baritone voice, and folksy demeanor as he was for his iconic landscape paintings. And like so many other artists, Bob’s artwork and image […]

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A Not-So-Happy Accident: Bob Ross’s Estate Planning Failures Leave His Son With Next to Nothing—Part 1

Gregory Smith — Mon, 20 Sep 2021 14:46:07 +0000

The post A Not-So-Happy Accident: Bob Ross’s Estate Planning Failures Leave His Son With Next to Nothing—Part 1 appeared first on Family Legacy Planning.

Estate Planning Must-Haves For Single Parents

Gregory Smith — Mon, 13 Sep 2021 14:24:31 +0000

If you are a single parent, life for you right now probably couldn’t get any busier. You are likely being pulled between work, school activities, and home – and the inevitable emergencies that fill the lives of single parents everywhere. Being a single parent is a huge responsibility, even if you do share time with […]

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3 Ways To Benefit By Incorporating Charitable Giving Into Your Estate Plan

Gregory Smith — Sun, 05 Sep 2021 14:19:06 +0000

You are likely well aware of the tax benefits that come from donating to charity during your lifetime—donations to charity are tax-deductible. But you may be surprised to learn about the numerous benefits that are available when you incorporate charitable giving into your estate plan. As with donating to charity during your lifetime, dedicating a […]

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Estate Planning 101: Wills vs. Trusts

Gregory Smith — Mon, 30 Aug 2021 14:10:43 +0000

Wills and trusts are two of the most commonly used estate planning documents, and they form the foundation of most estate plans. While both documents are legal vehicles designed to distribute your assets to your loved ones upon your death, the way in which they work is quite different. From when they take effect and […]

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Legendary Rapper DMX Dies With No Will, Millions in Debt, and 15 Children—Part 2

Gregory Smith — Mon, 23 Aug 2021 14:25:24 +0000

Legendary hip hop artist DMX—born Earl Simmons—passed away on April 9 at age 50 after suffering a massive heart attack a week earlier at his home in White Plains, New York. The heart attack was reportedly triggered by a cocaine overdose on April 2, which left the rapper hospitalized in a coma. After a week […]

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Legendary Rapper DMX Dies With No Will, Millions in Debt, and 15 Children—Part 1

Gregory Smith — Mon, 16 Aug 2021 14:46:09 +0000

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Don’t Forget To Protect Your Furry Family: Estate Planning For Your Pets

Gregory Smith — Mon, 09 Aug 2021 14:23:53 +0000

It’s sad but true that many pets end up in shelters after their owner dies or becomes incapacitated. In fact, the Humane Society estimates that between 100,00 to 500,000 pets are placed in shelters each year for exactly this reason, and a large number of these animals are ultimately euthanized. Unfortunately, the law considers pets […]

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Everything You Need to Know About Including Digital Assets In Your Estate Plan — Part 2

Gregory Smith — Mon, 02 Aug 2021 14:14:34 +0000

Recent advances in digital technology have made many aspects of our lives exponentially easier and more convenient. But at the same time, digital technology has also created some serious complications when it comes to estate planning. In fact, if you haven’t properly addressed your digital assets in your estate plan, there’s a good chance that […]

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Everything You Need to Know About Including Digital Assets In Your Estate Plan—Part 1

Gregory Smith — Mon, 26 Jul 2021 14:52:16 +0000

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Britney Spears’ Nightmare Conservatorship Underscores The Vital Importance Of Incapacity Planning—Part 2

Gregory Smith — Mon, 19 Jul 2021 14:31:06 +0000

Since the age of 16, when she burst onto the charts with her debut single, “…Hit Me Baby One More Time,” Britney Spears has been one of the world’s most famous and beloved pop stars. Yet despite her massive fame and fortune, Britney, who is now 39, has never truly had full control over her […]

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Britney Spears’ Nightmare Conservatorship Underscores The Vital Importance Of Incapacity Planning—Part 1

Gregory Smith — Mon, 12 Jul 2021 14:11:38 +0000

The post Britney Spears’ Nightmare Conservatorship Underscores The Vital Importance Of Incapacity Planning—Part 1 appeared first on Family Legacy Planning.

Estate Planning For A Child With Special Needs: What Parents Need To Know

Gregory Smith — Mon, 05 Jul 2021 14:36:21 +0000

Estate planning is an obvious concern for all parents, but if you have a child with special needs, it’s crucial that you are aware of the unique considerations that go into planning for a child who may be dependent on you at some level for their lifetime. If your child has special needs, you must […]

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3 Estate Planning Issues For LGBTQ Couples—Part 2

Gregory Smith — Mon, 28 Jun 2021 14:13:36 +0000

Whether you are married or not, if you are involved in a committed partnership with another individual, estate planning is about so much more than planning for death—it’s about planning for life and ensuring your beloved will be protected and provided for no matter what happens to you. And if you are a member of […]

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3 Estate Planning Issues For LGBTQ Couples—Part 1

Gregory Smith — Mon, 21 Jun 2021 14:55:05 +0000

Whether you are married or in a committed partnership, estate planning is about much more than planning for death—it’s about planning for life. It’s the way to ensure your beloved will be protected and provided for in the event of your death or incapacity. Especially if you are a member of the LGBTQ+ community, estate […]

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The Perfect Father’s Day Gift for Every Father

Gregory Smith — Mon, 14 Jun 2021 14:14:00 +0000

When you are a kid, finding a suitable gift for Father’s Day can be a struggle. You want to get Dad something he’ll enjoy, but few young people can afford a new set of golf clubs or a shiny new grill, so you end up settling once again for the standard necktie and socks. And […]

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3 Vital Estate Planning Documents For High School Graduates

Gregory Smith — Mon, 07 Jun 2021 14:34:59 +0000

With the arrival of summer, young people across the country are about to reach a key milestone: high school graduation. If you have a child claiming their diploma, now is the time to prepare them for life after leaving the nest. Graduating high school is a significant accomplishment. However, it comes with serious responsibilities that […]

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Just Married? 6 Estate Planning Essentials for Newlyweds—Part 2

Gregory Smith — Mon, 31 May 2021 14:53:16 +0000

As we head into the peak of wedding season, if you are a newlywed or are about to tie the knot, add “estate planning” to your do list. And yes, we imagine that at this happiest time of your life, planning for your potential incapacity and eventual death is probably the farthest thing from your […]

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Just Married? 6 Estate Planning Essentials for Newlyweds—Part 1

Gregory Smith — Mon, 24 May 2021 14:53:03 +0000

The post Just Married? 6 Estate Planning Essentials for Newlyweds—Part 1 appeared first on Family Legacy Planning.

Almost Three Years After Her Death, Aretha Franklin’s Poor Estate Planning Continues To Haunt Her Family—Part 2

Gregory Smith — Mon, 17 May 2021 14:47:21 +0000

Nearly three years have passed since Aretha Franklin, known as the “Queen of Soul,” died from pancreatic cancer at age 76. When she first passed away in August 2018, her family thought that Aretha died without any estate plan at all. But since then, four different wills attributed to the late singer have been discovered. […]

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Consider This Before You Create A Will Online

Gregory Smith — Mon, 10 May 2021 14:46:43 +0000

A last will and testament is the most commonly thought-of document when it comes to an estate plan. But really it is only a very small part of an integrated plan that ensures your family stays out of court and out of conflict if and when something happens to you. Do not think you can […]

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Looking for the Best Mother’s Day Gift Ever? Try The Kids Protection Plan®

Gregory Smith — Sun, 09 May 2021 14:54:05 +0000

Although we initially planned to run part two of last week’s post on Aretha Franklin’s failed estate plan, in honor of Mother’s Day, we’re running this special feature instead. We’ll return with the second half of the late singer’s planning mistakes next week. In case you missed all of the commercials for floral arrangements that […]

The post Looking for the Best Mother’s Day Gift Ever? Try The Kids Protection Plan® appeared first on Family Legacy Planning.

Almost Three Years After Her Death, Aretha Franklin’s Poor Estate Planning Continues To Haunt Her Family—Part 1

Gregory Smith — Mon, 03 May 2021 14:16:14 +0000

Nearly three years have passed since Aretha Franklin, known as the “Queen of Soul,” died from pancreatic cancer at age 76. At the time, her total fortune was estimated to be worth up to $80 million. Yet due to poor estate planning, the late singer’s children have yet to see a dime of their inheritance, […]

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Legal Gangsters: Netflix’s I Care a Lot Uncovers the Dark Side of Legal Guardianship—Part 2

Gregory Smith — Mon, 26 Apr 2021 14:08:44 +0000

The Netflix movie I Care a Lot provides a dark, violent, and somewhat comedic take on the real life and not-at-all funny dangers of the legal (and sometimes corrupt) guardianship system. While the film’s twisting plot may seem far fetched, it sheds light on a tragic phenomenon—the abuse of seniors at the hands of crooked […]

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Legal Gangsters: Netflix’s I Care a Lot Uncovers the Dark Side of Legal Guardianship—Part 1

Gregory Smith — Mon, 19 Apr 2021 14:09:15 +0000

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6 Ways The American Rescue Plan Can Boost Your Family’s Finances—Part 2

Gregory Smith — Mon, 12 Apr 2021 14:56:32 +0000

Signed into law on March 11th, President Biden’s $1.9 trillion American Rescue Plan Act of 2021 (ARP) is the largest direct-to-taxpayer stimulus legislation ever passed, and it came just in time to save millions of Americans whose unemployment benefits were about to expire. In addition to extending unemployment relief, the ARP provides individual taxpayers and […]

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6 Ways The American Rescue Plan Can Boost Your Family’s Finances – Part 1

Gregory Smith — Mon, 05 Apr 2021 14:59:11 +0000

The post 6 Ways The American Rescue Plan Can Boost Your Family’s Finances – Part 1 appeared first on Family Legacy Planning.

7 Ways To Save Big Money On Your 2020 Taxes—Part 2

Gregory Smith — Mon, 29 Mar 2021 14:44:31 +0000

2020 was a nightmarish year for many families. But thanks to recent legislation, you could see a silver lining in the form of major tax breaks when filing your income taxes this spring. First up, although it’s technically not a tax break, the IRS recently announced that the deadline for filing your 2020 federal income […]

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7 Ways To Save Big Money On Your 2020 Taxes—Part 1

Gregory Smith — Mon, 22 Mar 2021 14:05:37 +0000

2020 was a nightmarish year for many families. But thanks to recent legislation, you could see a silver lining in the form of major tax breaks when filing your income taxes this spring. First up, although it’s technically not a tax break, the IRS announced this week that the deadline for filing your 2020 federal […]

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Managing Child Care While Dealing With Debilitating Illness: Tips For Parents—Part 2

Gregory Smith — Mon, 15 Mar 2021 14:26:57 +0000

Even though there are now vaccines for the pandemic and the number of new cases is on the decline, becoming infected is still a very real possibility. And for parents who suffer from any debilitating illness, it can be a colossal challenge to navigate your typical parenting responsibilities, while trying to recover. This is especially […]

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Managing Child Care While Dealing With COVID-19: Tips For Single Parents – Part 1

Gregory Smith — Mon, 08 Mar 2021 15:14:22 +0000

Even though there are now vaccines for COVID-19 and the number of new cases is on the decline, becoming infected with the virus is still a very real possibility. And for parents who become infected, it can be a colossal challenge to navigate your typical parenting responsibilities, while trying to recover from the illness. This […]

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Larry King’s Death Highlights the Importance of Updating Your Estate Plan for Divorce and Death—Part 2

Gregory Smith — Mon, 01 Mar 2021 15:02:33 +0000

Legendary TV and radio host, Larry King, died at Cedars-Sinai Medical Center in Los Angeles on January 23rd, 2021 at age 87. Larry was hospitalized in December due to COVID-19, but he’d recently been moved from the ICU to a regular hospital room after recovering from the virus. However, the famed broadcaster suffered from a […]

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Larry King’s Death Highlights the Importance of Updating Your Estate Plan for Divorce and Death—Part 1

Gregory Smith — Sun, 21 Feb 2021 15:27:50 +0000

The post Larry King’s Death Highlights the Importance of Updating Your Estate Plan for Divorce and Death—Part 1 appeared first on Family Legacy Planning.

Managing Your Digital Afterlife: A Guide To Facebook’s Legacy Contact

Gregory Smith — Mon, 15 Feb 2021 15:42:39 +0000

If you use Facebook to share, track, and report on important life events, it can provide an intimate snapshot of your life, and it can also serve as a key part of your legacy—and one you’ll likely want to protect following your death. With this in mind, as with any other digital asset you own, […]

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New Developments Transform the Role Life Insurance Plays in Your Estate and Financial Planning

Gregory Smith — Mon, 08 Feb 2021 15:22:12 +0000

Within the past year, a combination of new legislation and the recent change of leadership in the White House and Congress stands to dramatically increase the income taxes your loved ones will have to pay on inherited retirement accounts as well as increasing the income taxes you owe on your taxable investments. However, purchasing life […]

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Does Your Estate Plan Protect Your Intellectual Property?

Gregory Smith — Mon, 01 Feb 2021 15:02:10 +0000

If you own a business, you almost certainly have intellectual property. However, because your intellectual property is intangible, it can be invisible to you and those who aren’t familiar with the nature of intellectual property and its value, so it often gets overlooked, especially when it comes to estate planning. Yet, if you fail to […]

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Moving To A New State? Remember to Update Your Estate Plan

Gregory Smith — Mon, 25 Jan 2021 15:14:12 +0000

Although you likely won’t need to have an entirely new estate plan prepared for you, upon relocating to another state, you should definitely have your existing plan reviewed by an estate planning lawyer who is familiar with your new home state’s laws. Each state has its own laws governing estate planning, and those laws can […]

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5 Tips For Keeping Kids Connected With Grandparents During the Pandemic

Gregory Smith — Mon, 18 Jan 2021 15:36:44 +0000

While the quarantines, shutdowns, and social distancing measures related to the pandemic have been difficult for everyone, the elderly have been particularly hard hit. Since seniors face the most health risks from COVID-19, most of them have been careful to avoid close contact with their family members, and this has left many grandparents unable to […]

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What You Should Know About Long-Term Care Insurance

Gregory Smith — Mon, 11 Jan 2021 15:40:29 +0000

With people living longer than ever before, more and more seniors require long-term healthcare services in nursing homes and assisted living facilities. However, such care is extremely expensive, especially when it’s needed for extended periods of time. Traditional healthcare insurance doesn’t cover such services, and though Medicare does pay for some long-term care, it’s quite […]

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Former Zappos CEO Tony Hsieh Dies Without A Will—Part 2

Gregory Smith — Sun, 03 Jan 2021 15:19:40 +0000

Last week in part one of this series we discussed how Hsieh became an Internet pioneer, starting two wildly successful companies, LinkExchange and Zappos, the latter of which he sold to Amazon for $1.2 billion. It was as CEO of the online shoe brand Zappos where Hsieh developed his vision for life and business: delivering […]

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Former Zappos CEO Tony Hsieh Dies Without A Will—Part 1

Gregory Smith — Mon, 28 Dec 2020 20:56:48 +0000

On November 27th, nine days after being pulled unconscious from a house fire in a beachfront home in New London, Connecticut, Tony Hsieh, the former CEO of the online shoe retailer Zappos, died due to complications of smoke inhalation. Hsieh, who was single and had no children, was just 46. Although the cause of the […]

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4 Tips For Talking About Estate Planning With Your Family Over the Holidays

Gregory Smith — Mon, 21 Dec 2020 15:48:16 +0000

With COVID-19 still raging, your 2020 holiday season may not feature the big family get-togethers of years past, but you’ll still likely be visiting with loved ones in some fashion, whether via video chat or in smaller groups. And though the holidays are always a good time to bring up estate planning, given the ongoing […]

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5 Questions To Ask Before Hiring An Estate Planning Lawyer—Part 2

Gregory Smith — Mon, 14 Dec 2020 15:41:27 +0000

Since you’ll be discussing topics like death, incapacity, and other frightening life events, hiring an estate planning lawyer may feel intimidating or morbid. But it definitely doesn’t have to be that way. Instead, it can be the most empowering decision you ever make for yourself and your loved ones. The key to transforming the experience […]

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5 Questions To Ask Before Hiring An Estate Planning Lawyer—Part 1

Gregory Smith — Mon, 07 Dec 2020 15:08:44 +0000

The post 5 Questions To Ask Before Hiring An Estate Planning Lawyer—Part 1 appeared first on Family Legacy Planning.

Remarrying In Midlife? Avoid Accidently Disinheriting Your Loved Ones

Gregory Smith — Mon, 30 Nov 2020 15:25:08 +0000

Today, we’re seeing more and more people getting divorced in middle age and beyond. Indeed, the trend of couples getting divorced after age 50 has grown so common, it’s even garnered its own nickname: “gray divorce.” Today, roughly one in four divorces involve those over 50, and divorce rates for this demographic have doubled in […]

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6 Things You Should NOT Include In Your Will

Gregory Smith — Mon, 23 Nov 2020 15:39:33 +0000

A will is one of the most basic estate planning tools. While relying solely on a will is rarely a suitable option for most people, just about every estate plan includes this key document in one form or another. A will is used to designate how you want your assets distributed to your surviving loved […]

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Getting Divorced? Don’t Overlook These 4 Updates to Your Estate Plan—Part 2

Gregory Smith — Sun, 15 Nov 2020 15:33:07 +0000

Going through divorce can be an overwhelming experience that impacts nearly every facet of your life, including estate planning. Yet, with so much to deal with during the divorce process, many people forget to update their plan or put it off until it’s too late. Failing to update your plan before, during, and after your […]

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Getting Divorced? Don’t Overlook These 4 Updates to Your Estate Plan—Part 1

Gregory Smith — Mon, 09 Nov 2020 18:04:27 +0000

The post Getting Divorced? Don’t Overlook These 4 Updates to Your Estate Plan—Part 1 appeared first on Family Legacy Planning.

Black Panther Star Chadwick Boseman Dies Without A Will—Part 2

Gregory Smith — Mon, 02 Nov 2020 15:34:16 +0000

On October 15th, nearly two months after the death of Black Panther star Chadwick Boseman, his wife, Taylor Simone Ledward, filed documents with the Los Angeles probate court seeking to be named administrator of his estate. Earlier this year, Boseman and Ledward were married, and the marriage gives Ledward the right to any assets held […]

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Will Your Estate Plan Actually Work When Your Family Needs It?

Gregory Smith — Mon, 02 Nov 2020 15:31:31 +0000

November 6, 2020 is “National Love Your Lawyer Day,” which started in 2001 as a way to celebrate lawyers for their positive contributions and encourage the public to view lawyers in a more favorable light. As your Personal Family Lawyer®, we’re dedicated to improving the public’s perception of lawyers by offering family-centered legal services specifically […]

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Black Panther Star Chadwick Boseman Dies Without A Will—Part 1

Gregory Smith — Mon, 26 Oct 2020 19:41:28 +0000

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4 Reasons Why You Can’t Afford to Go Without An Estate Plan

Gregory Smith — Mon, 26 Oct 2020 19:35:46 +0000

October 19th-25th, 2020 is National Estate Planning Awareness Week, so if you’ve been thinking about creating an estate plan, but still haven’t checked it off your to-do list, now is the perfect time to get it done. If you or anyone you love has yet to create a plan, contact us, as your Personal Family […]

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Start Planning Now to Prepare Your Estate for a Possible Democratic Sweep—Part 2

Gregory Smith — Mon, 19 Oct 2020 14:27:00 +0000

No matter who you vote for on November 3rd, you may want to start considering the potential legal, financial, and tax impacts a change of leadership might have on your family’s planning. As you’ll learn here, there are a number of reasons why you may want to start strategizing now if you could be impacted, […]

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Start Planning Now to Prepare Your Estate for a Possible Democratic Sweep—Part 1

Gregory Smith — Mon, 12 Oct 2020 14:28:22 +0000

No matter who you are voting for on November 3rd, you may want to start considering the potential legal, financial, and tax impacts a change of leadership might have on your family’s planning. And as you’ll learn here, there are a number of reasons why you should start strategizing now, because if you wait until […]

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What You Should Know Before Agreeing to Serve as Trustee

Gregory Smith — Mon, 05 Oct 2020 14:26:59 +0000

Being asked by a loved one to serve as trustee for their trust upon their death can be quite an honor, but it’s also a major responsibility—and the role is definitely not for everyone. Indeed, serving as a trustee entails a broad array of duties, and you are both ethically and legally required to properly […]

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6 Changes to Watch For In Your 2020 Taxes

Gregory Smith — Mon, 28 Sep 2020 14:55:16 +0000

Although you may have just filed your 2019 income taxes in July, now is the time to start thinking about your 2020 return due next April. While it’s always a good idea to be proactive when it comes to tax planning, it’s particularly important this year. In addition to annual updates for inflation, the Coronavirus […]

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Once Your Kids Are 18, Make Sure They Sign These Documents

Gregory Smith — Mon, 21 Sep 2020 14:56:00 +0000

While estate planning is probably one of the last things your teenage kids are thinking about, given the dire threat coronavirus represents, when they turn 18, it should be their (and your) number-one priority. Here’s why: At 18, they become legal adults in the eyes of the law, so you no longer have the authority […]

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Lost An Old 401(k)? Here Are 6 Tips For Finding It

Gregory Smith — Mon, 14 Sep 2020 14:05:08 +0000

The days of working for a single employer for decades until you retire are over. Today, you are much more likely to change jobs multiple times during your career. According to the Bureau of Labor Statistics, today’s workers have held an average of 12 jobs by the time they reach their 50s. Since people change […]

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The Need For a Go-Bag Is Even More Important During a Pandemic

Gregory Smith — Mon, 07 Sep 2020 14:09:00 +0000

In response to a series of wildfires that ravaged Southern California in 2017, we look to this article explaining why your family should have a “go-bag” ready in the event a natural disaster or other emergency strikes your home. Go-bags originated with the US military, which requires its personnel to always keep one on-hand packed […]

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Supreme Court Case Could Impact LGBTQ Adoption, But Estate Planning Offers Alternate Options

Gregory Smith — Mon, 31 Aug 2020 18:33:00 +0000

A case on the Supreme Court’s docket for October could have a major impact on the parental rights of same-gender couples seeking to adopt or foster children. In February, the high court agreed to hear Fulton v. City of Philadelphia, which deals with whether taxpayer-funded, faith-based foster care and adoption agencies have a Constitutional right […]

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What the Netflix Series Tiger King Can Teach You About Asset Protection Planning-Part 3

Gregory Smith — Mon, 24 Aug 2020 20:11:00 +0000

Anyone who has seen the hit Netflix documentary Tiger King: Murder, Mayhem, and Madness can attest that it’s one of the most outlandish stories to come out in a year full of outlandish stories. And while Tiger King’s sordid tale of big cats, murder-for-hire, polygamy, and a missing millionaire may seem too outrageous to have […]

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What the Netflix Series Tiger King Can Teach You About Estate Planning-Part 2

Gregory Smith — Mon, 17 Aug 2020 16:59:00 +0000

“Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat […]

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What the Netflix Series Tiger King Can Teach You About Estate Planning-Part 1

Gregory Smith — Mon, 10 Aug 2020 16:59:00 +0000

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How to Avoid the Need For a Prenuptial Agreement—Part 2

Gregory Smith — Mon, 03 Aug 2020 16:55:00 +0000

If you are engaged to be married, divorce is probably the last thing you and your fiancé want to be thinking about. Yet you might be rightfully concerned about what would happen to your assets should your marriage end in divorce or in the event of your death. One option you might be considering for […]

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COVID-19 Highlights Critical Need for Advance Healthcare Directives—Part 2

Gregory Smith — Tue, 21 Jul 2020 03:56:07 +0000

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COVID-19 Highlights Critical Need for Advance Healthcare Directives—Part 1

Gregory Smith — Mon, 13 Jul 2020 22:04:00 +0000

As the COVID-19 pandemic continues to ravage the country, doctors across the nation are joining lawyers in urging Americans to create the proper estate planning documents, so medical providers can better coordinate their care should they become hospitalized with the virus. The most critical planning tools for this purpose are medical power of attorney and […]

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A Tragic Oversight—Kobe Bryant’s Youngest Daughter Mistakenly  Left Out of Family Trust

Gregory Smith — Mon, 06 Jul 2020 21:22:00 +0000

In January, we reported how the deaths of NBA legend Kobe Bryant (Kobe) and his 13-year-old daughter, Brianna, in a helicopter crash demonstrated the vital need for estate planning for people of all ages. At the time, little was known about the planning strategies Kobe had in place to protect and preserve his estimated $600 […]

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Your “Blended” Family Is Likely Headed to Court Unless You Do This

Gregory Smith — Tue, 30 Jun 2020 03:55:00 +0000

If you have a blended family and do not plan for what happens to your assets in the event of your incapacity or eventual death, you are almost certainly guaranteeing hurt feelings, conflict, and maybe even a long, drawn out court battle. So let’s start with clarity around what a blended family is and whether […]

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How Do Trusts Help You Save on Taxes?

Gregory Smith — Mon, 22 Jun 2020 19:30:00 +0000

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Is It Time to Go Solo(preneur)?

Gregory Smith — Mon, 15 Jun 2020 15:29:00 +0000

There’s nothing like a major change in the economic climate to make you rethink your day job. “Business as usual” currently means a large element of uncertainty about what the future holds for your working life. Whether you’ve lost your job, had your hours cut, or have seen these things happen to people you know, […]

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Learning to Flourish, Even in a Financial Crisis

Gregory Smith — Mon, 08 Jun 2020 21:44:00 +0000

Maybe you, like many of us, have been raised to think that the safest way to live in the working world is to have a good career and a steady paycheck. This financial crisis is challenging that framework for many people. Even if you had a steady job, and even if you still have one, […]

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The Basics of Disability Insurance and How It Can Help During COVID

Gregory Smith — Mon, 01 Jun 2020 14:59:00 +0000

With the risks still posed by COVID-19, we all need to face the possibility that we could get sick, even if we take great care of ourselves through good nutrition, sleep, and exercise. And even if you don’t need to be hospitalized, if you do experience symptoms and test positive, you might have to stay […]

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Who Would Care For Your Children If You Got Sick With COVID-19?

Gregory Smith — Tue, 26 May 2020 01:59:23 +0000

The pandemic is causing us to consider a lot of things that we may not have before, even if maybe we should have. It brings to mind something a colleague of mine shared recently. One unremarkable weekend, she left her small children with a babysitter and headed out to enjoy dinner at a restaurant with […]

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Getting Legal Documents Signed During COVID — Another Reason to Not Go It Alone

Gregory Smith — Mon, 11 May 2020 13:24:46 +0000

Wills, trusts, health care directives, powers of attorney, and legal guardian nominations are on many of our hearts and minds as COVID-19 compels us to face our own fragility and mortality. It’s not as if we didn’t know we would all die (or become incapacitated) one day, but within our current reality, that “one day” […]

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Protecting Your Parents From Undue Influence During Covid and Beyond

Gregory Smith — Mon, 04 May 2020 19:07:00 +0000

In a previous article we shared steps to understanding your parents’ estate planning and the nature of their assets, as well as how to ensure you’re not left with a mess when something happens to them. Today, we want to focus on one of the major risks of not being “in the know” when it […]

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Should You (or Your Parents) Be in the Stock Market Now?

Gregory Smith — Mon, 27 Apr 2020 20:55:00 +0000

If you or your parents have a retirement account, (or any investment accounts for that matter) now is the time to get connected to how those accounts are invested. While you may have outsourced all of this to a broker in the past, you can no longer afford to allow your investments to be made […]

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Online Wills? When You Should, When You Shouldn’t and Where to Do It

Gregory Smith — Mon, 20 Apr 2020 16:22:51 +0000

With all of the media about “digital wills” and “online estate planning” it could be tempting to think you can do your estate planning yourself, online. And, maybe you can. But, if you do, you need to know the potential pitfalls. Online estate planning could be a big trap for the unwary and actually leave […]

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A Map to Doing the Right Thing for the People You Love During the COVID-19 Pandemic

Gregory Smith — Tue, 14 Apr 2020 02:11:00 +0000

Right now, huge numbers of people are coming face to face with their own mortality, and realizing they need to plan for the worst. This goes not just for those of us in the “senior” category, but for all of us, no matter our age. We are facing the reality of our mortality, and many […]

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How To Get Access to Your COVID Stimulus Money

Gregory Smith — Tue, 07 Apr 2020 14:55:00 +0000

It’s the beginning of the month, and bills are coming due. If you are stressed out, it’s important that you know where and how to get access to financial relief. Please consider this not only for yourself, but for your adult children and elderly parents, too, even if you do not need it for yourself. […]

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The Most Important Legal and Financial Actions To Take Right Now

Gregory Smith — Mon, 30 Mar 2020 14:37:00 +0000

As you already know, the COVID-19 pandemic means nothing is business as usual. Many states have implemented a “shelter-in-place” order to limit the spread of the disease; however, if you are not in a place with such an order, or if your parents are not following it, you may want to refer to our previous […]

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How To Talk To Your Parents and Get Them To Stay Home

Gregory Smith — Mon, 23 Mar 2020 14:38:00 +0000

There’s no doubt that your parents have survived frightening world events, whether that was World War II, the war in Vietnam, nuclear threat, illness, poverty, civil unrest, or all of the above. However, the use of the word “unprecedented” regarding what’s happening now is not an exaggeration. And they may not understand it all or […]

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CORONAVIRUS: Impact to Your Wealth, Health and Happiness

Gregory Smith — Mon, 02 Mar 2020 19:29:00 +0000

While it’s still hard to tell how the Coronavirus will impact us in the long term, it’s become a subject that’s impossible to ignore. While some are advocating we prepare to be quarantined, potentially for months, others are saying the virus is nothing more than a common cold. The World Health Organization takes a more […]

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False Security: Is Your Will Legally Valid?

Gregory Smith — Mon, 10 Feb 2020 15:40:00 +0000

A last will and testament can ensure your wishes are respected when you die. But if your will isn’t legally valid, those wishes might not actually be carried out, and instead the laws of “intestate succession” would apply, meaning that the state decides who gets your stuff, and it’s very likely not to be who […]

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Kobe Bryant’s Untimely Death Highlights the Vital Need for Estate Planning at All Ages

Gregory Smith — Mon, 03 Feb 2020 14:48:00 +0000

As you no doubt already know, on January 26, 2020, basketball legend Kobe Bryant was killed in a helicopter crash on a wooded hillside 30 miles north of Los Angeles. Also killed in the tragic accident was his 13-year-old daughter Gianna, and seven other passengers, who were friends and colleagues of Kobe and his family. […]

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The SECURE Act’s Impact On Estate and Retirement Planning—Part 1

Gregory Smith — Mon, 13 Jan 2020 20:01:38 +0000

On January 1, 2020, the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) went into effect, and it represents the most significant retirement-planning legislation in decades.Indeed, the changes ushered in by the SECURE Act have dramatic implications for both your retirement and estate planning strategies—and not all of them are positive. While the […]

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The Tax Cut & Jobs Act Drastically Alters the Tax Consequences of Divorce

Gregory Smith — Mon, 06 Jan 2020 15:59:01 +0000

The Tax Cuts & Jobs Act (TCJA) made sweeping changes to exemptions, deductions, and credits for your family’s federal income taxes. But one major change that you might not have noticed is the way the law altered the potential tax consequences of divorce. Unlike child support, alimony payments have long been tax-deductible for the ex-spouse […]

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Avoid These 4 Mistakes When Naming Life Insurance Beneficiaries

Gregory Smith — Mon, 30 Dec 2019 23:48:16 +0000

Investing in life insurance is a foundational part of estate planning. However, when naming your policy’s beneficiaries, there are a number of mistakes you can make that could lead to potentially dire consequences for the very people you’re trying to protect and support. The following four mistakes are among the most common we see clients […]

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Don’t Let Diminished Financial Capacity Put Your Elderly Loved Ones At Risk—Part 2

Gregory Smith — Mon, 23 Dec 2019 17:14:37 +0000

With more and more Baby Boomers reaching retirement age each year, our country is undergoing an unprecedented demographic transformation that’s sure to challenge our society in many ways. There’s been lots of talk about whether Baby Boomers will have enough savings for retirement and the strains the generation will put on Social Security and Medicare. […]

The post Don’t Let Diminished Financial Capacity Put Your Elderly Loved Ones At Risk—Part 2 appeared first on Family Legacy Planning.

Don’t Let Diminished Financial Capacity Put Your Elderly Loved Ones At Risk—Part 1

Gregory Smith — Mon, 23 Dec 2019 17:11:32 +0000

With more and more Baby Boomers reaching retirement age each year, our country is undergoing an unprecedented demographic transformation that’s been dubbed “The Greying of America.” This population shift stands to affect many aspects of life, especially your relationships with aging parents and other senior family members.By 2060, the number of Americans aged 65 and […]

The post Don’t Let Diminished Financial Capacity Put Your Elderly Loved Ones At Risk—Part 1 appeared first on Family Legacy Planning.

5 Steps For Adding Digital Assets To Your Estate Plan

Gregory Smith — Tue, 10 Dec 2019 03:48:14 +0000

Although digital technology has made many aspects of our lives much easier and more convenient, it has also created some unique challenges when it comes to estate planning. If you haven’t planned properly, for example, just locating and accessing all of your digital assets can be a major headache—or even impossible—for your loved ones following […]

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4 Tips For Discussing Estate Planning With Your Family This Holiday Season

Gregory Smith — Mon, 02 Dec 2019 20:39:29 +0000

As we head into the peak of the holiday season, you’re likely spending more time than usual surrounded by your family and friends. It’s one of the rare times of the year when loved ones from across the country gather together to enjoy each other’s company and celebrate the passing of another year. The holidays […]

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Don’t Let Your Kids Move Out Without Signing These Documents

Gregory Smith — Mon, 25 Nov 2019 23:58:33 +0000

Watching your kids leave home to attend college or start their career can be an emotional time for you as a parent. On one hand, moving out on their own is a major accomplishment that should make you proud. On the other hand, having your kids leave the nest and face the world can also […]

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Buyer Beware: The Hidden Dangers of DIY Estate Planning—Part 2

Gregory Smith — Mon, 18 Nov 2019 23:52:07 +0000

Last week, we shared the first part of this series on the dangers of do-it-yourself estate planning. Here, we’ll look at how online legal documents can even put your minor children at risk. Given how far web-based technology has evolved, you might think online legal document services like LegalZoom® and WillsandTrusts.com have advanced to the […]

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Buyer Beware: The Hidden Dangers of DIY Estate Planning—Part 1

Gregory Smith — Mon, 11 Nov 2019 15:22:33 +0000

Do a Google search for “online estate planning documents,” and you’ll find dozens of different websites. From Legal Zoom® and Willing.com to Rocket Lawyer® and Willandtrust.com, these do-it-yourself (DIY) planning services might seem like an enticing bargain.The sites let you complete and print out just about any kind of planning document you can think of—wills, […]

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4 Year-End Tax-Saving Strategies for 2019

Gregory Smith — Mon, 04 Nov 2019 15:05:28 +0000

As we head towards the end of the year, we’re fast approaching the deadline to implement your family’s tax strategies for 2019. The Tax Cut and Jobs Act (TCJA) completely overhauled the tax code, and if you’ve yet to take full advantage of the benefits offered by the new tax law, now is the time […]

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Lifetime Asset Protection Trusts: Airtight Asset Protection For Your Child’s Inheritance—Part 2

Gregory Smith — Mon, 28 Oct 2019 14:38:01 +0000

If you’re planning to leave your children an inheritance of any amount, you likely want to do everything you can to protect what you leave behind from being lost or squandered. While most lawyers will advise you to distribute the assets you’re leaving to your kids outright at specific ages and stages, based on when […]

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Lifetime Asset Protection Trusts: Airtight Asset Protection For Your Child’s Inheritance—Part 1

Gregory Smith — Mon, 21 Oct 2019 14:32:38 +0000

As a parent, you’re likely hoping to leave your children an inheritance. In fact, doing so may be one of the motivating factors driving 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. In some instances, an inheritance can even […]

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Understanding Your Life Insurance Settlement Options

Gregory Smith — Mon, 14 Oct 2019 14:51:47 +0000

Following the death of the policy holder, the way in which proceeds from a life insurance policy are paid to the beneficiary (or beneficiaries) is known as the settlement option. And you might be surprised to learn that there are a variety of settlement options available besides the most common method—a lump-sum payout. Depending on the […]

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A Lesson For All Parents: Who Will Be Emani’s Legal Guardian After the Death of Her Dad?

Gregory Smith — Mon, 07 Oct 2019 14:58:16 +0000

In the aftermath of rapper Nipsey Hussle’s murder this March, his family and ex-girlfriend have been locked in a bitter battle for custody of one of his young children. And as this ugly drama plays out in the courtroom and tabloids, it highlights the single-most costly estate-planning mistake a parent can make.Hussle, 34, whose given […]

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Is Platonic or Co-Parenting Right For You?

Gregory Smith — Mon, 30 Sep 2019 16:17:28 +0000

With societal attitudes about love, marriage, and parenting constantly evolving, our perception of what constitutes “family” is becoming more and more flexible. As family structures become more varied, we’re learning that when it comes to raising children, the marital status, gender, and even relationship status of the parents matters less and less. What children need […]

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Use Estate Planning to Ensure Your Legacy Doesn’t Get Erased

Gregory Smith — Mon, 23 Sep 2019 16:13:46 +0000

When you think about those loved ones who’ve passed away, you probably don’t think very much—or even at all—about the “things” they’ve left you. And when they do leave something behind, what you likely cherish most about the object are the memories and feelings it evokes, not the thing itself. For the founder and CEO […]

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Use Estate Planning to Avoid Adult Guardianship—and Elder Abuse: Part 2

Gregory Smith — Mon, 16 Sep 2019 20:54:48 +0000

In the first part of this series, we discussed how some professional adult guardians have used their powers to abuse the seniors placed under their care. Here, we’ll discuss how seniors can use estate planning to avoid the potential abuse and other negative consequences of court-ordered guardianship. As our senior population continues to expand, an […]

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Use Estate Planning to Avoid Adult Guardianship—and Elder Abuse

Gregory Smith — Mon, 09 Sep 2019 14:13:23 +0000

Elder abuse can take a wide variety of forms, but we think the worst of the worst is caused by unscrupulous adult guardians appointed by a court to care for seniors who are no longer able to care for themselves. And though you may not want to believe such a thing could happen, you need […]

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3 Estate Planning Concerns For Married, Same-Gender Couples

Gregory Smith — Mon, 02 Sep 2019 19:53:50 +0000

Now that same-gender couples can legally marry in all 50 states, more Americans than ever before are enjoying the rights and benefits that come with marriage. Estate planning, in particular, is one arena where these new rights and benefits are readily apparent.With marriage equality, same-gender couples no longer have to pay exorbitant amounts of money […]

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Why A Will Is Not A Suitable Option For Protecting Your Pet

Gregory Smith — Mon, 26 Aug 2019 22:00:46 +0000

These days, lots of people consider their pets to be members of their family. Indeed, pets can become our closest companions. As such, it’s only natural you’d want to make sure your furry friend is provided for in your estate plan, so when you die or if you become incapacitated, your beloved companion won’t end […]

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How Will The Coming Wealth Transfer Affect Your Family?

Gregory Smith — Mon, 19 Aug 2019 19:09:04 +0000

Whether it’s called “The Great Wealth Transfer,” “The Silver Tsunami,” or some other catchy-sounding name, it’s a fact that a tremendous amount of wealth will pass from aging Baby Boomers to younger generations in the next few decades. In fact, it’s said to be the largest transfer of intergenerational wealth in history.Because no one knows […]

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Why You Need To Add a ‘When I Die’ File to Your Estate Plan

Gregory Smith — Mon, 12 Aug 2019 20:06:35 +0000

If you were to suddenly die today, would your loved ones know how to quickly find your estate planning documents? Would they know how to access all of your financial accounts? How about your insurance policies? What about your login and password info to all of your digital assets? One crucial part of estate planning […]

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The Real Cost To Your Family of Failed Estate Planning: Not Updating Your Plan

Gregory Smith — Mon, 05 Aug 2019 22:41:35 +0000

This is the fourth in an ongoing series of articles discussing the true costs and consequences of failed estate planning. The series highlights a few of the most common—and costly—planning mistakes we encounter with clients. If you’re like most people, you probably view estate planning as a burdensome necessity—just one more thing to check off […]

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The Real Cost To Your Family: Having No Estate Plan At All

Gregory Smith — Mon, 29 Jul 2019 16:57:27 +0000

This is the third in an ongoing series of NLBM articles discussing the true costs and consequences of failed estate planning. The series highlights a few of the most common—and costly—planning mistakes we encounter with clients. If the series exposes any potential gaps or weak spots in your plan, meet with a lawyer to learn […]

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Safeguard Your Children’s Inheritance With a Lifetime Asset Protection Trust

Gregory Smith — Mon, 22 Jul 2019 14:39:33 +0000

Last week, we discussed the benefits of a unique estate planning vehicle known as a Lifetime Asset Protection Trust (LAPT). We referenced this planning tool in the context of how it could have protected Clare Bronfman, the heiress to the multi-billion-dollar Seagram’s fortune, who was manipulated into blowing much of her $200 million inheritance by […]

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Protect Your Family From Wealth’s Dark Side With a Lifetime Asset Protection Trust

Gregory Smith — Mon, 15 Jul 2019 19:06:46 +0000

When you create your estate plan, the idea that one of your adult children would ever use their inheritance to bankroll a cult is probably something you’d never dream of, much less anticipate. Yet that’s exactly what 40-year-old Clare Bronfman, heiress to the multi-billion-dollar Seagram’s fortune, did with hers. In the end, with her inheritance—and […]

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7 Processes to Complete With Your Parents Before They Die

Gregory Smith — Mon, 08 Jul 2019 14:14:04 +0000

In a recent Facebook post “Processes to go through with your parents before they die,” Daniel Schmachtenberger, founder of the Critical Path Institute, outlined seven simple exercises to use with your parents that can offer significant healing and completion for their life and yours. While Daniel shared these processes in the context of the impending […]

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Seniors and Their Families Should Be Wary of Reverse Mortgages—Part 2

Gregory Smith — Mon, 01 Jul 2019 14:41:02 +0000

In the first part of this series, we discussed the dangers of reverse mortgages for senior homeowners. Here, we’ll look at how these complex loans can negatively impact your family and estate plan. For decades, reverse mortgages have been touted as an easy way for seniors to access extra money during retirement. Indeed, there was […]

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Seniors and Their Families Should Be Wary of Reverse Mortgages

Gregory Smith — Mon, 24 Jun 2019 14:40:29 +0000

If you’ve watched TV lately, you’ve likely seen ads touting the benefits of reverse mortgages. The spots typically feature famous actors like Henry “Fonzie” Winkler, Robert Wagner, and former U.S. Senator Fred Thompson telling elderly homeowners how they can dramatically improve their retirement with a reverse mortgage. But what the ads don’t show is that […]

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The Real Cost To Your Family: Relying On A Will Alone

Gregory Smith — Mon, 17 Jun 2019 16:25:58 +0000

Whenever the topic of estate planning comes up, people invariably mention creating a will. And with good reason—having a will is a foundational aspect of your estate plan. However, a will is only one small part of effective planning. In fact, if your plan consists of a will alone, you’re guaranteeing your family will have […]

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Avoid These 2 Common Causes For Dispute Over Your Estate Plan—Part 2

Gregory Smith — Mon, 10 Jun 2019 19:13:47 +0000

In the first part of this series, we discussed one of the most frequent causes for dispute over your estate plan. Here, we’ll look at another leading cause for dispute and offer strategies for its prevention. No matter how well you think you know your family, you can never predict how they’ll behave when you […]

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Avoid These 2 Common Causes For Dispute Over Your Estate Plan – Part 1

Gregory Smith — Mon, 03 Jun 2019 14:42:13 +0000

No matter how well you think you know your loved ones, it’s impossible to predict exactly how they’ll behave when you die or become incapacitated. Of course, no one wants to believe their family would ever end up battling one another in court over inheritance issues or a loved one’s life-saving medical treatment, but we […]

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Got a ‘Blended Family’? Learn From Tom Petty’s Mistakes: His Daughters and Widow Are Now Locked In Bitter Battle Over His Estate

Gregory Smith — Tue, 28 May 2019 02:41:56 +0000

This week Tom Petty’s daughters escalated the battle over their late father’s estate by filing a lawsuit against Petty’s second wife that seeks $5 million in damages. In the lawsuit, Adria Petty and Annakim Violette claim their father’s widow, Dana York Petty, mismanaged their father’s estate, depriving them of their rights to determine how Petty’s […]

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4 Ways That Wise Planning Can Protect Your Family’s Assets

Gregory Smith — Mon, 20 May 2019 14:00:15 +0000

While most people assume only the uber wealthy need to worry about asset protection, those with less wealth and fewer assets may be at an even greater risk. For example, if you’re a multi-millionaire then a $50,000 judgment against you might not be that big of a burden. But for a family with a modest […]

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3 Warning Signs of a Financial Scam

Gregory Smith — Mon, 13 May 2019 14:11:20 +0000

Nobody likes to admit they’ve fallen for a financial scam, but the fact is, it’s easier than ever to get caught up in one. This is especially true in today’s all-digital world, where practically every shred of data related to your personal and financial background can be found online. While no one is forcing you […]

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The Real Cost To Your Family: Not Planning For Incapacity

Gregory Smith — Tue, 07 May 2019 02:41:03 +0000

When it comes to estate planning, most people automatically think about taking legal steps to ensure the right people inherit their stuff when they die. And these people aren’t wrong. Indeed, putting strategies in place to protect and pass on your wealth and other assets is a fundamental part of the planning equation. However, providing […]

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4 Critical Estate Planning Tasks to Complete Before Going on Vacation

Gregory Smith — Mon, 15 Apr 2019 21:24:42 +0000

Going on vacation entails lots of planning: packing luggage, buying plane tickets, making hotel reservations, and confirming rental vehicles. But one thing many people forget to do is plan for the worst. Traveling, especially in foreign destinations, means you’ll likely be at greater risk than usual for illness, injury, and even death.In light of this […]

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6 Questions to Consider When Selecting Beneficiaries For Your Life Insurance Policy—Part 2

Gregory Smith — Mon, 08 Apr 2019 18:38:10 +0000

Selecting a beneficiary for your life insurance policy sounds pretty straightforward. But given all of the options available and the potential for unforeseen problems, it can be a more complicated decision than you might imagine. For instance, when purchasing a life insurance policy, your primary goal is most likely to make the named beneficiary’s life […]

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6 Questions to Consider When Selecting Beneficiaries for a Life Insurance Policy

Gregory Smith — Mon, 01 Apr 2019 19:41:40 +0000

Selecting a beneficiary for your life insurance policy sounds pretty straightforward. You’re just deciding who will receive the policy’s proceeds when you die, right? But as with most things in life, it’s a bit more complicated than that. It can help to keep in mind that naming someone as your life insurance beneficiary really has […]

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Understand What’s At Stake Before Agreeing to Serve as Trustee

Gregory Smith — Mon, 25 Mar 2019 18:55:19 +0000

Being asked by a family member or close friend to serve as trustee for their trust upon their death can be an incredible honor. At the same time, however, serving as a trustee can be a massive responsibility—and the role is not for everyone. In fact, depending on the type of trust, the assets held […]

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Gen-X 90210 Star Luke Perry’s Death Demonstrates the  Importance of Planning for Incapacity

Gregory Smith — Mon, 18 Mar 2019 14:51:29 +0000

In late February, Luke Perry, who became famous starring in the 1990s TV series Beverly Hills 90210, suffered a massive stroke at age 52. He was hospitalized under heavy sedation, and five days later, when it became clear he wouldn’t recover, his family decided to remove life support. Perry died on March 4th, 2019 surrounded […]

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Why You Might Actually Owe Taxes in 2018

Gregory Smith — Mon, 11 Mar 2019 14:14:07 +0000

Like many taxpayers, if you’ve already filed your federal income taxes for 2018, you may be surprised to discover you’re not getting a refund this time. If so, this was almost certainly due to the sweeping tax overhaul made by the 2017 Tax Cut and Jobs Act (TCJA). Since personal tax rates were lowered by […]

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7 Events That Necessitate a Review of Your Estate Plan

Gregory Smith — Mon, 04 Mar 2019 17:33:43 +0000

Even if you put a totally solid estate plan in place, it can end up proving worthless if it’s not properly updated. Estate planning is not a one-and-done type of deal: It should continuously evolve along with your life circumstances.No matter who you are, your life will inevitably change: families change, laws change, assets change, […]

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Could an IRA Trust Benefit Your Family?

Gregory Smith — Mon, 25 Feb 2019 15:28:09 +0000

Unlike most of your assets, individual retirement accounts (IRAs) do not pass to your family through a will. Instead, upon your death, your IRA will pass directly to the people you named via your IRA beneficiary designation form.Unless you take extra steps, the named beneficiary can do whatever he or she wants with the account’s […]

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Overlooking This Basic Part of Your Estate Plan Can Be Tragic

Gregory Smith — Mon, 18 Feb 2019 15:59:28 +0000

The recent death of the CEO of QuadrigaCX, a major cryptocurrency exchange in Canada, demonstrates a basic, yet often-overlooked, tenet of effective estate planning: In the event of your incapacity or death, if your heirs don’t know how to find or access your assets, those assets are as good as gone. Indeed, it’s as if […]

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Reclaim Your Role as Your Child’s Primary Influence—Part 2

Gregory Smith — Mon, 11 Feb 2019 15:59:22 +0000

In today’s society, the once-unbreakable bond between parent and child is being increasingly eroded. This disconnect is wreaking havoc on children’s psychological development, while making parents feel powerless to get through to their kids. In more than 20 years of work and research, world-renowned family physician and child-development expert Gabor Maté discovered that a mix […]

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Reclaim Your Role as Your Child’s Primary Influence—Part 1

Gregory Smith — Mon, 04 Feb 2019 15:40:15 +0000

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Don’t Let Your Elderly Parents Become Victims of the Grandparent Scam

Gregory Smith — Mon, 28 Jan 2019 17:55:43 +0000

Imagine this… You are an elderly grandparent who lives alone. You get a call in the middle of the night from your college-aged granddaughter. She’s frantic and crying, telling you she was mistakenly arrested while vacationing in Cancun. She says she needs you to pay her $1,800 bond, or she’ll be transferred to a dangerous […]

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Use Estate Planning to Ensure Your Family Isn’t Stuck Paying For Your Funeral

Gregory Smith — Mon, 21 Jan 2019 15:54:30 +0000

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4 Estate Planning Must-Haves for Unmarried Couples—Part 2

Gregory Smith — Mon, 14 Jan 2019 15:30:24 +0000

Most people tend to view estate planning as something only married couples need to worry about. However, estate planning can be even more critical for those in committed relationships who are unmarried.Because your relationship with one another is frequently not legally recognized, if one of you becomes incapacitated or when one of you dies, not […]

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Pet Trusts Offer Protection for Your Furry Family

Gregory Smith — Mon, 31 Dec 2018 15:37:36 +0000

If you’re an animal lover and have a pet of your own, you likely consider your pet to be a member of the family. And since your furry friends can provide protection, emotional support, and unconditional love, such consideration is often well deserved. In stark contrast, the law considers your pet nothing more than personal […]

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4 Ways Estate Planning Can Improve Relationships with Loved Ones

Gregory Smith — Mon, 24 Dec 2018 15:12:08 +0000

With the holiday season here, you’re probably spending lots of time with your family and friends. During these moments, you’re likely reminded of just how important these relationships can be. And as we grow older, you begin to realize how precious little time we have to spend with one another. Given life’s fleeting nature, using […]

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Dementia and Guns: A Tragedy Waiting to Happen

Gregory Smith — Mon, 17 Dec 2018 15:52:25 +0000

It’s common for families of those with Alzheimer’s and other forms of dementia to realize that at some point, their loved one shouldn’t be allowed to drive. But fewer people are aware they should exercise the same level of caution when it comes to restricting their loved one’s access to firearms. This was one of […]

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Think Your Homeowners Insurance Offers Protection From Natural Disasters?  Think Again

Gregory Smith — Mon, 03 Dec 2018 15:35:45 +0000

From wildfires in California and hurricanes in Texas to floods in West Virginia, hardly any area of the U.S. is immune from the threat of natural disasters. And according to a report released by the government regarding climate change and its impact on Black Friday, it’s only going to get worse. Despite this threat, many […]

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