I sometimes have people say to me, "It’s just me and my wife, we have no kids yet, and if I die all my stuff goes to her. We don’t need Wills." This makes me cringe, because I have seen what happens in this situation, and related ones, if there is no Will. In the… Continue Reading
Category Archives: Wills
You Have a Plan in Mind, but Do You Have a Plan in Place?
I was speaking with someone from the Planned Giving Department of the Salvation Army today. She was relaying the story of a woman who wanted to leave a donation to the Salvation Army in her Will. She had an old Will that left her money to some nieces and nephews, she also had several bank… Continue Reading
Preparing for the Estate Planning Meeting
You’ve scheduled an appointment with your attorney, and the meeting to talk about your estate plan is next week. You have the information form she asked you to fill out, but in addition to listing your assets and income and children, there are other things to think about that don’t fit so nicely into a… Continue Reading
Organizing Your Financial Life – Month by Month
January is a great time to get organized and make plans for the year. Attorney Joel Schoenmeyer, who writes the Death and Taxes Blog in Chicago, has a recent post called Organize Your Financial Life in 2007. He lays out, month by month which tasks you should tackle such as making an appointment with a… Continue Reading
New Year’s Resolutions
People make New Year’s Resolutions about a lot of things – getting in shape, stopping smoking, getting organized, drawing up their Will and other planning documents. And just as your personal trainer can give you information about the best way to get in shape and guide you on your way, your doctor can offer assistance… Continue Reading
Boston Globe Magazine Column About Wills
Today’s Boston Globe Magazine had a column regarding some of the struggles parents go through when deciding when and how to make their estate plans. It seems like all this father needed was a little nudge from his daughter. If your children can’t talk yet, or haven’t brought up your estate plan, don’t let that… Continue Reading
What Does “Per Stirpes” Mean?
Does your Will or trust contain the phrase "per stirpes"? Did your attorney explain what it means? Have you forgotten by now? Stan Rule, an estate planning and elder law attorney in Canada, has a great post explaining clearly what this phrase means and some of the ways it can be misused. He writes, in… Continue Reading
How Old Is Your Will?
I went to see a new client last week at her home. She wanted a durable power of attorney and a health care proxy. I asked if she had an updated Will, and she said "Yes, I don’t need one of those." I asked to see it. It was made in 1962. Other than the… Continue Reading
Estate Planning for the Single Person
Do you think estate planning is just for couples and families? Do you think you don’t need a Will or a Power of Attorney because you aren’t married and don’t have children? Think again. Having the proper documents in place is almost more essential for a single person than a married one. Consider this: is… Continue Reading
The Basic Five
While the terms of each of these documents will vary depending on your particular situation, these are the five basic estate plan documents that everyone needs. Durable Power of Attorney This is perhaps the most important document, even more so than a Will, because this is the document that will ensure you affairs continue to… Continue Reading