The novel coronavirus, COVID-19, is spreading in the United States and across the globe. Social distancing and self-quarantine can help slow the spread. The virus is a particular threat to residents of nursing homes. Read on to learn more about the threat and how you can keep your loved ones safe. Read on to learn more … [Read more...] about Coronavirus and Nursing Homes
If you are the parent of minor children, they are undoubtedly your primary motivation for creating a successful estate plan. As such, your estate plan should be tailored to provide for your children. An estate planning attorney at Nash Bean Ford & Brown, LLP explains how estate planning for parents with minor children begins by deciding how to protect the inheritance intended for those children. Last Will and Testament Basics A Last Will and Testament is a legal document that communicates … [Read more...] about Estate Planning for Parents with Minor Children
For a trust beneficiary, the receipt of a “Crummy notice” can be confusing. Having never before received a Crummey notice, a beneficiary is typically unsure what to do next. Most beneficiaries assume there is some reason important reason behind the notice. To prepare you for receipt of a Crummey notice, a estate planning attorney at Nash, Bean, Ford & Brown, LLP explains when one is required and what to do if you receive one. Trust Administration Basics Trusts are broadly divided into … [Read more...] about What You Need to Know about a Crummey Notice
When you create, or update, your estate plan, it is important to take into account the impact federal (and state) gift and estate taxes could have on your estate. Failing to anticipate your estate’s tax obligation, and plan to limit that obligation, could result in your loved one’s receiving a significantly less valuable estate than you intended to pass down. If you are married, you may be planning to rely heavily on the marital deduction to avoid taxes; however, doing so creates its own set of … [Read more...] about The Marital Deduction –What You Need to Know
It would be a gross understatement to say that we have all become dependent on electronics. In fact, almost everything we do now has an electronic component to it. How much of your life is now stored electronically? How many daily tasks do you accomplish electronically? What you may not have considered is how technology has also created a whole new class of assets – digital assets. An estate planning attorney at Nash Bean Ford & Brown, LLP can explain how to include those digital assets in … [Read more...] about Did You Remember Your Digital Assets in Your Estate Plan?
If you have executed a Last Will and Testament, you are undoubtedly counting on the terms of that Will being followed during the probate of your estate. After all, a primary motivation for creating a Will is the ability to dictate how your estate assets will be distributed when your are gone. If someone successfully challenges your Will, however, your wishes will not be honored and your estate will be distributed using the state’s intestate succession laws. A probate attorney at Nash Bean Ford … [Read more...] about Preventing a Will Contest with Careful Estate Planning
If you have taken the time to create an estate plan, you have given a valuable gift to your loved ones and to yourself. Your estate plan can help grow your assets, protect you in the event of incapacity, and provide for your family in your absence. That plan, however, must be current in order for you and your loved ones to truly benefit from it. A estate planning attorney at Nash Bean Ford & Brown, LLP explains why updating your estate plan is almost as important as creating the plan in the … [Read more...] about Why Updating Your Estate Plan Is Important
Estate planning, when done properly, is an ongoing process. The estate plan you create when you are fresh out of college, single, and without many assets will not meet your needs once you are nearing retirement, married with children, and with a significant estate to protect. One thing people often forget to do with their estate plan is to update their beneficiary designations. To help prevent you from making the same mistake, the estate planning attorneys at Nash Bean Ford & Brown, LLP … [Read more...] about The Importance of Updating Your Beneficiary Designations
If you are a Baby Boomer, you are certainly old enough to understand the value in having an estate plan in place. In fact, you may be old enough that it’s past time to update your plan if you haven’t done so in the last few years. Toward that end, the estate planning attorneys at Nash Bean Ford & Brown, LLP offer several reasons why Baby Boomers need to review and revise their estate plans. Baby Boomers Head into Retirement The Baby Boomer generation is larger, by far, than any previous … [Read more...] about Baby Boomers — Why It’s Time to Update Your Estate Plan
For the average person, the hardest part of creating an estate plan for the first time is simply getting started. If you are unfamiliar with estate planning, you don’t know where to start nor which documents you need in your plan. Every estate plan should be tailored to the needs of the person creating the plan; however, there are some common documents found on most basic estate plans. To give you some idea of the documents you may wish to include in your initial estate plan, the estate planning … [Read more...] about What Documents Do I Need to Start an Estate Plan?