For the Love of Your Family

Articles to LIFT Your Family

What is the Best Way to Save for My Child’s College Education?

Q: What is the Best Way to Save for My Child’s College Education? –Concerned Parent A: Dear Concerned: One of the best ways to save for your child’s college education, assuming the child will definitely go to college, is through a state operated “529” plan. These plans provide tax benefits and are named for Section […]

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What Property Can I Put In My Living Trust?

Q: What Property Can I Put In My Living Trust? – Planning For the Future A: Dear Planning: A living trust is, by definition, changeable while you’re still alive, you have the wiggle room to change your mind about what you want to place in there. That said, keep in mind that usually the point […]

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How Long Does an Executor Have to Distribute Assets From a Will?

Q: How Long Does an Executor Have to Distribute Assets From a Will? – Watching and Waiting A: Dear Waiting: In most states, a will must be executed within three years of a person’s death. The longer answer is, naturally, it depends. An executor first has to file probate and pay fees to the court […]

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My dad recently passed and did not have a will, what should I do?

Q: My dad recently passed and did not have a will, what should I do? – Feeling Lost A: Dear Lost: First, make sure you have checked *absolutely* everywhere for a will. There’s a chance it’s hidden somewhere or was made years ago and then forgotten in a file cabinet somewhere. Go through your father’s […]

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What is the Difference Between Living Will and Medical POA?

Q: What’s the difference between a Living Will and a Medical POA? – Thinking Ahead A: Dear Thinking: A Living Will and a Medical POA (Power of Attorney) are both “advance directives”—specific instructions about the type of medical care you want or do not want in the future, should you be in a position where […]

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I want my child to own my house when I die. Should I just transfer it now?

Q: I want my child to own my house when I die. Should I just transfer it now? – Pondering Parent A: Dear, Pondering: One thing to consider when transferring ownership of your home is the potential tax liability for your child. You may have owned your house for a long time, and its value […]

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Could I face eviction due to an out of date Will?

Q: Could I face eviction due to an out of date Will? -Renting Beneficiary A: Dear, Renting: It’s critical that you understand exactly what will happen after you become incapacitated or when you die, to ensure that the people you love don’t end up cleaning up an estate planning nightmare while also grieving your passing.  […]

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Under what circumstances can my will be contested?

Q: Under what circumstances can my will be contested? -Will Creator A: Dear Will: Anyone can contest a will for any reason, but that doesn’t mean they’ll be successful. If you think there is a chance that someone may contest your will, it’s critically important for the people you want to leave your assets to […]

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How often should I update my estate plan?

Q: How often should I update my estate plan? -Prudent planner A: Dear Prudent: This question highlights a frequent mistake we see clients make with planning. Even if you put an effective plan in place, it can prove completely worthless if it’s not regularly updated. In fact, failing to update your plan can create its […]

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Do I need additional life insurance if I have a policy through my employer?

Q: Do I need additional life insurance if I already have a policy through my employer? -Insurance Enquiry A: Dear Enquiry: Group policies offered by employers provide an easy and affordable way to obtain life insurance—but they often aren’t enough on their own. While the amount of coverage you need is dependent upon your particular […]

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Can I use estate planning to provide for my pet’s care after my death?

Q: Can I use estate planning to provide for my pet’s care after my death? -Dog Lover A: Dear Lover: Yes, you most certainly can use estate planning to make sure your pets are taken care of when you die or in the event of your incapacity. And the best way to do so is […]

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