Frequently Asked Estate Planning Questions- National Estate Planning Awareness Week

I hope you've enjoyed reading and learning about estate planning during National Estate Planning Awareness Week. We believe that knowledge is powerful and being prepared is liberating- and we appreciate you, area parents, for partnering with us in our mission to educate families - especially young families - about the importance of planning. To wrap up the week, I'd like to take a moment to summarize everything Read More

Why Plan – National Estate Planning Awareness Week

A question I often get asked is "Why is estate planning so important for me as a parent of a young child or of young children?" It's simple: when you are the parent of a young child or young children, that is when estate planning is most important. Here's why: You've got young kids. They can't take care of themselves. They can't take care of the assets that you leave to them while they're still young. You need people Read More

Leave A Legacy: National Estate Planning Awareness Week

In addition to drafting legal documents for all of our clients to make sure that their assets are taken care of and their families are fully protected, we also understand  that there are certain aspects that really make you, "you," which are not able to be preserved through traditional estate planning methods. That's why we conduct what we call our Legacy Interview. A Legacy Interview is made available to all of Read More

Adult Child (18+) Planning – National Estate Planning Awareness Week

Did you know that, if you have children, once your child turns 18, you can no longer see your child's medical records, or get information about your kids? In the eyes of the law, once your child turns 18, they are considered adults and on their own. At The Parents Estate Planning Law Firm, PC, we have 3 different legal documents for kids to sign, allowing their parents to access their information the same way that Read More

Funding Your Trust – National Estate Planning Awareness Week

A common estate planning mistake many people make – including celebrities with huge estates, like Michael Jackson or Prince – is not ensuring the trust they have created actually holds all their assets.  Unfortunately, after creating trust paperwork for their clients, most lawyers simply do not follow-up to make sure this critical step is properly handled. If you’ve worked with any law office other than ours, you Read More

Trust vs. Will: What you Need to Know- National Estate Planning Awareness Week

Our second installment for National Estate Planning Awareness Week: trusts, wills, and the difference between the two. When most people hear "estate planning," they immediately think "will," but for parents, a simple will is, simply, not enough. A  very common question we get is "What is the difference between and will and a trust?" In some ways they are very similar, and in some ways they are very different. Both Read More

Naming Guardians- National Estate Planning Awareness Week

Maybe you've heard that there are certain documents you need to have in place to make sure that your kids are protected no matter what, but you don't know what those documents are, or how to get started. If You Are The Parent Of A Young Child, We Recommend: If you have young children, you definitely want to have a Kids Protection Plan in place. With a Kids Protection Plan, you will name long-term guardians (the Read More

National Estate Planning Awareness Week 2018

Congress has designated the third week in October "National Estate Planning Awareness Week" (October 14-20, 2018). Estate planning is an often overlooked area of personal financial management.  By some estimates, 70% of American parents do not have an estate plan!  Most mistakenly hear the word "estate" and assume "estate planning" is just for the Bill Gates of the world. Estate planning, however, is for Read More

Naming Guardians for your Children: The Six Steps to Do it Right – Part 2

One of your most important responsibilities you have as a parent is to select and legally document guardians for your children. This doesn’t mean naming godparents, or just trusting the grandparents will step in if necessary. It means consciously deciding who would raise your children if you cannot, and then legally documenting your choices. (Making sure the people you’ve chosen know what to do if they’re ever called Read More

What does a Prenuptial or Postnuptial Agreement have to do with Estate Planning? Everything!

By guest blogger, Attorney Karen J. Levitt, of Levitt Law Group Do I need or want a Prenuptial or Postnuptial Agreement? You may need or want a Prenuptial Agreement (also called an antenuptial or premarital agreement) if your goal is to preserve assets. You may have accumulated substantial assets prior to your marriage, own or be part of a family business, or have or anticipate inherited assets, that you want to keep Read More