December 2014 Archives

Award Winning Director May Have Used Trust to Keep Estate Secret

A recent headline in the New York Daily News, pertaining to the death of film director, Mike Nichols, highlighted the misinformation and confusion regarding how assets pass upon death. The headline said Nichols "left his estate to his widow, Diane Sawyer, and his three adult children." The article went on to say his $20 million estate was split between Sawyer and his three adult children "according to estate papers." It quoted from Nichols' will that left his "tangible personal property" to Ms. Sawyer. However, except for tangible personal property (e.g., jewelry, furniture, art), the "pour over" will did not set forth how his assets were left. 

Roll (over) with the IRA Changes!

Retirement planning can be extremely difficult as individuals are tasked with planning for an uncertain time period. In many ways, retirement planning is like trying to shoot a moving target in the wind. Each and every year new legislation, court cases, and market conditions impact retirement planning. 2014 was no different. 

Advice for Recent Retirees

For recent retirees, adjusting to life on a fixed income can be particularly difficult at holiday time. Are you obligated to continue inviting a lot of work friends to your holiday party? Is everyone in your family expecting the same level of gifts you've always given? Can it be someone else's turn to host the holiday meal? Add on a layer of possible remorse after getting that last paycheck and it all makes for a potentially depressing holiday. 

A Few Words on Perpetual Trusts

Most people struggle to plan their financial futures beyond the next decade, while those with money and foresight are likely to think well in advance about what they want to leave their children, grandchildren and even great-grandchildren. But what about planning for eternity? It seems too long to contemplate. Yet in the last several decades, states have begun competing with one another for the business of perpetual trusts, which are designed to last forever, or at least 1,000 years in the case of Wyoming. And people have been putting their millions and billions into them, eschewing traditional trusts, which typically end after 100 years. 

Don't Leave Your Estate Planning To "The Beaver"

Today's families are a lot different than Ward and June Cleaver. There are more families today with non-traditional situations than ever before. It is very common in my profession to have clients with same sex marriages, second marriages with assets and children from a prior marriage, as well as families that may look traditional, yet marriage was never on the agenda. Financial and estate planning for everyone is important, but if the situation has any of the variables referenced above, planning is a must. 

Make Estate Planning Your New Year's Resolution

The holidays are upon us. It's also a good time to get started with some Old Year end and New Year beginning planning activities, especially if family members are going to be celebrating the holidays with you. Start with reviewing what you have and how you own it (by yourself, with your spouse, with a child or with whomever). Do you still want to own it in this way? 

Advice for Divorce after Age 50

When you're over 50 and facing divorce from a long-term marriage, coming to a settlement agreement that will safeguard a comfortable financial future is complicated. "Till death do us part" isn't the case for many Baby Boomers today. "Gray divorces" are occurring more than ever before - the rate for adults ages 50 and older doubled between 1990 and 2010, according to research from the National Center for Family and Marriage Research at Bowling Green University in Bowling Green, Ohio. "There are no 'do-overs' after you agree to a settlement," the article says. "After 50, you'll have fewer years to recoup from financial errors, so it's essential to get this right." 

Check Your Estate Planning List Twice, Just Like Santa

During this festive time of year, dwelling on estate planning may seem like a bit of a downer. Yet the end of the year is as good as time as any to take stock of your personal finances and also make sure you have done some proper estate planning. Having your affairs in order will lift a huge burden off your family that would otherwise face a big emotional and financial toll in probate court should something happen to you. 

It's That Time of Year

It is the giving time of year, and whether your gift is in another person's name to a charity, or as a donation directly to a charity, there are so many worthy options, including the SPCA. 

Planning Caregiving for Seniors

There are a number of reasons that conflicts occur when multiple family members are involved in caregiving. Hopefully, there is a common goal of meeting a senior's physical, emotional and spiritual needs in a dignified manner and within a safe environment. How to meet this goal is where the situation can quickly deteriorate. Each family member will approach a caregiving situation with a unique viewpoint, based on personal beliefs and experience, past and present roles within the family, and current life situation. Even families who have always had strong relationships can experience tension when faced with the responsibilities of caregiving. 

Upcoming Workshops

3 Easy Steps To Protect Your "Stuff" This workshop addresses frequently asked questions and common misconceptions on Wills & Trusts, Asset Protection, Nursing Home Issues, and Medicaid Qualification.

Join Now! More Workshops

Call Us Today To Schedule A Consultation

We are ready to help you start planning. To schedule an initial consultation, call us at 770-822-2723 or 866-735-9628. You may also contact us online.

ESTATE PLANNING LAW GROUP OF GEORGIA,

Johns Creek Office
11555 Medlock Bridge Road, Suite 100
Johns Creek, GA 30097

Toll Free: 866-735-9628
Phone: 770-822-2723
Fax: 770-573-3379
Map & Directions

Lawrenceville Office
1755 North Brown Road, Suite 200
Lawrenceville, GA 30043

Toll Free: 866-735-9628
Phone: 770-822-2723
Fax: 770-573-3379
Map & Directions

map

How can we help you?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close