Generally, the more money and property a person has, the more risk they are taking by not having an estate plan, since their money and property could be distributed in a way they would never have intended or approved of. This is particularly dangerous when there are minor children involved, and adults in their lives…
Anne Heche’s accidental death a few months ago was a shocking reminder of how unexpected and unpredictable life can be. You’ve undoubtedly heard the story – while driving through the Mar Vista neighborhood of Los Angeles on August 5, 2022, Heche was involved in a car crash and succumbed to her injuries a week…
The Estate Plan you create today won’t (hopefully) be used for many years into the future. If you have a hard time imagining the future, take a moment to reflect on the past. Let’s assume you signed your Last Will and Testament 10 years ago – then let’s think for a moment about all of…
A resume is a snapshot of your experience, skill set, and education that provides prospective employers insight into who you are and how you will perform. Imagine not updating your resume for five, ten, or even fifteen years. If you were looking for a job today, would you send in your resume from 2007? It…
In prior blogs, we explained what HEMS means for a Trustee and a beneficiary, and what use of the “health, education, maintenance, or support” standard really covers. As a practical matter, there isn’t much that won’t be covered by this standard. But, if a distribution is desired to benefit the intended beneficiary, there is wide…
In the world of estate planning, you may come across the acronym HEMS from time to time and wonder what the heck it means. “HEMS” is a commonly used standard for distributions and is short for “health, education, maintenance, or support”. When a trustee is limited to HEMS distributions, they must ensure that whatever they…
NFTs are being talked about everywhere? What are they? An NFT is another word for a “nonfungible token”. It is a unique digital code that represents a digital item such as art or music, as well as a growing number of physical items, that runs on the blockchain (a secure, decentralized, and cryptography-backed online ledger)…
Even though most parents want to make their children feel like there are no favorites, most would acknowledge that different children have different needs at different times. Is it always “fair” to split things equally in an estate plan? This is a particularly difficult decision when you have minor children. Almost certainly, one child will…
If you’re reading this, you probably have a social media account. Statista reports that more than 295 million people in the United States use social media. So what happens to your account and all that content when you pass away? If you have spent time creating, uploading, and sharing content, it’s important to take a…
Being appointed to serve as someone’s executor can be a big, and sometimes overwhelming, responsibility. Essentially, the executor is trusted with protecting and managing the person’s personal property and are bound to carry out their responsibilities as an executor with honesty, trust, and good faith. This is called a fiduciary duty. In this article, we…