Living Trust Planning | Estate Planning Attorney

Category: Estate Planning

  • Have a Trust? How the Corporate Transparency Act Affects You

    Have a Trust? How the Corporate Transparency Act Affects You

    Get ready for an interesting twist in the world of legal and business news. You may already be familiar with the upcoming Corporate Transparency Act, set to kick in next year. If you aren’t, it’s time to get in the know because it could impact you, and if it does, you’ll need support.

    Starting January 1, 2024, every small business will be obligated to submit an annual report revealing the names of their major owners. Now, here’s where it gets intriguing. If you happen to have a trust that holds partial or full ownership in a business, that business might be required to disclose private details about your trust, including details about the name of your trustee or beneficiaries, in your annual corporate report to the government. But how do you figure out if your trust needs to be reported?

    What Is the Purpose of the Corporate Transparency Act and What Does It Require?

    Enacted in 2020 and set to take effect on January 1, 2024, this Act aims to tackle money laundering and terrorism financing schemes involving “shell” corporations—companies that exist merely on paper and don’t engage in actual business or trade (like “Vamonos Pest” in Breaking Bad).

    Under this Act, small companies will now have to disclose the names of any owners who hold 25% or more ownership in the company, as well as any individuals who exercise significant control over the company’s activities. The goal is to identify and expose shell corporations that are frequently involved in money laundering, as such illicit activities tend to occur within small businesses rather than large corporations.

    To comply with the requirements, businesses must submit an annual report to the Financial Crimes Enforcement Network (FinCEN) containing the following details about each owner or controller:

    • Business name
    • Current business address
    • State in which the business was formed and its Entity Identification Number (EIN)
    • Owner/controller’s name, birth date, and address
    •  Photocopy of a government-issued photo ID (such as a driver’s license or passport) of every direct or indirect owner or controller of the company

    Failing to file an annual report could result in serious repercussions, from paying a fine of $500 for every day the report is late up to imprisonment for two years.

    Does My Trust Need to Be Disclosed?

    Since a trust can own a business or a share of a business, trusts are also involved in the Corporate Transparency Act, but under more limited circumstances.

    So how do you know if your trust information will need to be disclosed?

    The new rule applies to any company that is created by filing a formation document with the Secretary of State or a similar office, such as corporations and limited liability companies (LLCs).

    Non-profits, publicly traded companies, and regulated companies like banks and investment advisors are exempt from the rule. Large companies are also exempt if they have 20 or more full-time employees in the US and generate $5 million in sales. So, if your trust owns a share of any of these types of companies, it doesn’t need to be reported.

    If you have an LLC or corporation you created but aren’t actively using to run a business, that company is exempt from reporting due to its inactivity, so your trust wouldn’t be reported in that instance, either.

    But if your trust owns a share of a small, for-profit company (like a small family business or local investment), the beneficial owner of the trust will need to be reported to the Financial Crimes Enforcement Network.

    The beneficial owner is the person or people who benefit from the trust or have the power to make major decisions about the trust assets. Depending on how your trust is written, this is usually the trustee, but it can also be the beneficiaries of your trust. 

    Make sure to contact us at (650) 600-1735 to have your trust reviewed before 2024 to make sure you report the correct beneficial owner of your trust.

    Does the Corporate Transparency Act Affect My Trust’s Asset Protection?

    One of the best things about creating a trust is that it provides you and your family with an extra level of privacy and provides asset protection from divorce or lawsuits for your trust’s beneficiaries after you’re gone.

    Thankfully, having a trust that owns a business or a share of a business doesn’t take away from the trust’s ability to provide asset protection to your heirs.

    While the new Corporate Transparency Act rule reduces some of the privacy benefits that come with owning assets in a trust, the names of your trust, trustees, and beneficiaries aren’t made public and are only used by the government for the specific purpose of investigating financial crimes. 

    Because of this, trusts remain an excellent tool for providing privacy, avoiding probate, and setting up your family with a lifetime of asset protection and financial security.

    Guidance for Your Family Now and For Years to Come

    If you have a trust or are curious about creating an estate plan for your family, you may be wondering how changes in the law will affect your plan in the future and how you can possibly plan for them.

    Unlike many estate planning attorneys who serve their clients once and never see them again, I see estate planning as a life-long relationship. Your life and the world around you are constantly changing, and your estate plan should too.

    That’s why I keep my clients informed about any changes in the law that may affect their estate plan and offer to review your plan for free every three years to make sure that your plan still works for you just as well as it did on the day you created it.

    If you’re ready to create a custom plan for the ones you love or have questions about how the Corporate Transparency Act might affect you, give me a call today at (650) 600-1735.

    I can’t wait to serve you now and for years to come.

    This article is a service of Jeannette Marsala, Personal Family Lawyer. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, during which you’ll get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

  • Capturing the Stories of Aging Loved Ones: The Power of a Family Wealth Legacy Interview

    Capturing the Stories of Aging Loved Ones: The Power of a Family Wealth Legacy Interview

    May is Senior Citizen’s Month, a time to reflect and appreciate all the things the seniors in our lives have done for us. Whether they’re our parents, grandparents, or elderly friends, our seniors have given us so much over the years. But sometimes seeing your loved ones aging or seeing how you’ve aged yourself may remind you of how quickly time passes and how much you wish you could pause life. 

    When you think about a loved one who has passed away, you probably don’t give much thought to the material things they’ve left you. Maybe you have a piece of their clothing that you sometimes hold close to your heart or a favorite item of theirs displayed proudly on a shelf. But what you value most about that object likely isn’t its monetary worth but the memories it evokes of your loved one and the time you spent together. You wish you could still hear from them, learn from them, and share memories with them.

    I know the value of planning for what happens to your financial assets. But I also know that there is something even more valuable to pass on to your loved ones than money – your stories, lessons, insights, and values. While we might not be able to pause time, there are things we can do to preserve the precious memories and lessons of the people we love.

    That’s why I offer a unique service to my clients called a Family Wealth Legacy Interview to help preserve your unique legacy for future generations. The Family Wealth Legacy process is built into all of our plans, and it’s an opportunity to share your love with the ones you care about most, and if you have aging parents or grandparents, the Family Wealth Legacy Interview is an even more important way to preserve their stories and create a cherished memory of their legacy for years to come.

    What to Expect During Your Family Wealth Legacy Interview

    Family Wealth Legacy Interviews are a key part of my Life & Legacy Planning process. If the idea of giving an interview sounds intimidating, don’t worry – the process is an easy conversation, and most of my clients tell me that their Family Wealth Legacy Interview was their favorite part of the estate planning process and a heart-touching experience.

    During your Family Wealth Legacy Interview, we’ll ask you a series of helpful questions and prompts that we plan in advance. Or, you can talk freely about whatever you’d like to share with your loved ones. It’s your interview, so I encourage you to be your authentic self and make it your own. We’ll be there the entire time to guide you through the process. 

    We’ll record your interview on video, either in-person or remotely, depending on your preference. After the interview is completed, we’ll edit the footage and provide you with a digital recording that can be shared with your family members or kept with your estate planning materials as a special memento of your story and your love for your family.

    We’ve built this into all of our plans because we find that while everyone says they intend to document stories and write letters to their loved ones, very few people ever actually get around to it.

    Starting the Conversation with Your Loved Ones

    Talking to your aging loved ones about estate planning and the legacy that they’ll leave behind can be difficult or uncomfortable for a lot of people. We all deal with the concept of aging and dying differently. Some of us avoid the topic altogether, and others will make light of it and even joke about “kicking the bucket.” But it’s important to have a conversation about your elder’s wishes and how much it would mean to you for them to plan ahead.

    If you aren’t sure how your loved one will respond to the topic, try to come from a vulnerable place, and not from a place of any sort of judgment if they joke about death. Instead, remember that they’re joking because they might be afraid. 

    Try saying something like, “I know this might be hard to talk about, but it’s something that’s really important to me. If something does happen to you, I want to make sure that we’re able to take care of you, and I know that you wouldn’t want to leave us with a big mess.”

    You could also let your loved one know how much you value them, and how much it would mean to you for them to create a Family Wealth Interview so that you have a recording of them as they are right now before illness or incapacity are even a part of the picture.

    By approaching the conversation in a vulnerable way, they’ll likely be more receptive to the idea of planning for their assets and more intentional in how they leave their legacy behind for the ones they care about.

    Bringing Families Closer Together

    Besides preserving a message for your loved ones, the Family Wealth Legacy Interview is a great time to reconnect with the moments and memories from your life that you might have otherwise forgotten. 

    In today’s hectic world, it can be hard to live in the moment, but by taking a little time to reflect on where your life has taken you, you’ll remember all that you’ve accomplished and all that you want to share with your loved ones, not just in your Family Wealth Legacy Interview, but every day. 

    Even after the interview is finished, you’ll likely live your life with more intention and awareness of how you want to pass on your values, insights, stories, and experiences in your day-to-day life. And if a senior member of your family is completing their Family Wealth Legacy Interview, you can feel at ease knowing that no matter what the future holds, you’ll always have a video of your loved one sharing their stories, their hopes, their jokes, and their love with you.

    The Importance of Life & Legacy Planning

    The Family Wealth Legacy Interview is a wonderful tool for seniors and their families, and I offer it as a complementary service to all of my estate planning clients, young and old. It’s part of my comprehensive Life & Legacy Planning process, which goes beyond creating documents and takes a holistic approach to planning for a life you love and a legacy your loved ones will cherish forever.

    At the core of Life & Legacy Planning is the understanding that your family’s most precious wealth is not money, but the memories you make, the values you instill, and the lessons you pass down. By planning for your life and legacy, you can ensure that your family’s wealth is preserved and protected for generations to come. 

    I believe that Life & Legacy Planning is not a one-time event but an ongoing process because it mirrors the ongoing process of your life. By working with an attorney who knows you and has a relationship with you, you make your Life & Legacy Planning as effective as possible and have the opportunity to continue to record your values and wisdom in additional Family Wealth Legacy Interviews as life goes on.

    Whether you’re growing your family or well into retirement, I work with you to create a plan that evolves over time and adapts to changes in your life and family circumstances.

    If you want to pass on more than money to the ones you love and leave them with an even greater gift that they’ll treasure for generations, give me a call at (650) 600-1735. And if you have a senior loved one, contact me today to see how I can help them not only make a plan for their assets, but capture the love and memories they share with you.

    This article is a service of Jeannette Marsala, Personal Family Lawyer. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, during which you’ll get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

  • Want to Grow Wealth? Warren Buffett’s Unexpected Investment Advice

    If you’re going to take investment and estate planning advice from anyone, Warren Buffett is likely one you want to consider. As one of the most successful investors in history, his track record speaks for itself. However, his wisdom goes beyond picking stocks and making money. 

    At this year’s Berkshire Hathaway annual shareholder meeting, Buffett shared several pieces of financial advice but also provided insights on the importance of personal growth and estate planning when seeking to grow wealth. While many of us may feel overwhelmed by the thought of estate planning or building our wealth, Buffett’s advice reminds us of two key but simple steps we can take to create financial and generational wealth.

    Focus on Your Human Assets to Build Your Wealth and Your Legacy

    In almost every interview Buffett provides, he stresses the importance of investing in yourself. “The best thing you can do is to be exceptionally good at something,” said Buffett. “Whatever abilities you have can’t be taken away from you. They can’t actually be inflated away from you. So the best investment by far is anything that develops yourself, and it’s not taxed at all.” 

    Your earning power is the greatest determiner of your financial well-being, and the one thing you can count on no matter what’s happening in the external economic environment. If you have a highly valuable skill, and you know how to get paid well for that skill, market your services, and sell your services to those who need them, you’ll never have to worry about money. That doesn’t mean you won’t worry about money; but it does mean you don’t have to worry about money.

    If you don’t have a highly valuable skill or if you have a skill that will soon be replaced by AI, that’s the first place for you to invest. You may need to get retrained, or uplevel your skills to be more human or relational so you can use AI, but not compete with it, and all that may take investment. Don’t shy away from investing in additional training to get even better at your service, or even get the additional support to learn to market and sell your services. Those investments will always pay off, whereas the stock market is out of your control.

    Investing in yourself not only leads to financial success, but also personal fulfillment and a clear sense of purpose that will organically become your legacy. At the end of the day, you likely won’t be remembered for your financial success (though it’s a nice bonus if you are!). Even Warren Buffett, who is renowned for his wealth and investment skill, is even more often acclaimed for his wisdom, humility, and generosity than for his money.  

    Raising Kids Well is Key in Effective Wealth Planning

    During a Q&A session with an estate planning attorney, Buffett stressed the importance of talking to your children about your estate planning well before your death. Buffett stated, “If the children are grown when the will is read to them and it’s the first they’ve heard about what the deceased thought about things, the parents have made a terrible mistake.” 

    Leaving your family in the dark about your personal and financial wishes until you die or become incapacitated due to an accident or illness can lead to large amounts of confusion and conflict among family members. If you don’t want to leave a mess, don’t wait to talk to the people you love.

    As we recommend and build into our Life & Legacy Planning Process, Buffett recommends involving your heirs in the planning process. By doing so, you can ensure that everyone is on the same page and that your wishes are understood and respected far in advance. Additionally, this provides an opportunity to discuss your values and beliefs with your heirs, which can have a lasting impact on their lives.  Buffett expressed that if you really want your heirs to act responsibly with their inheritance, you must live out your values and instill them in your heirs.

    How to Start the Conversation About Estate Planning With Your Heirs

    So how do you start the conversation about estate planning with your heirs? We recommend you do it directly and with an invitation to meet with you and your lawyer together. This is something we love to do with our clients, and we’d love to support your family in this way too. You might say something like: “I want to make sure that we’re all taken care of, both now and in the future. That’s why I’d like to talk to you about my wishes for our family resources, and how we can ensure that everything is handled smoothly when I can’t be here.”

    If your loved ones aren’t immediately open to having a conversation about estate planning with you or are resistant to how you want your assets managed after your death, don’t worry. Talking about estate planning can be uncomfortable at first, but as you normalize the topic, the conversation will become easier and more open. 

    Or, if you’re worried that filling your heirs in on what they’ll receive will cause harm, please call us at (650) 600-1735. This is a place we can really help by supporting you to get prepared to have a conversation with your heirs and also supporting them to be ready to receive their inheritance. 

    When you talk money and inheritance with your heirs during your lifetime, you have the opportunity to truly pass on not just the money, but your values too. If you wait until you’re incapacitated or have died, it’s simply too late.

    Finally, if you’re the future heir of a parent who hasn’t yet talked with you about estate planning, you can jumpstart the conversation by getting your own planning done, and then talking with your parents about the choices you made, why you made them, and letting them know you’d like to help them feel comfortable talking to you about the choices they’re making. If you aren’t sure how to handle any of this, please reach out to us at (650) 600-1735.

    Thoughtful Guidance to Build Your Personal and Financial Life and Legacy

    Warren Buffett’s advice on building and preserving wealth is timeless and valuable no matter the size of your family or your estate. By involving your heirs in your estate planning and investing in yourself, you can set yourself and your loved ones up for long-term financial success and create a legacy that spans not only through your life but through the generations that follow you. 

    If you aren’t sure where to start or how to talk about your wishes with your family, give me a call at (650) 600-1735. I’d be happy to guide you and your loved ones through the process of creating an estate plan that focuses on the needs and hearts of everyone it involves, so you can build a life you love today knowing that your loved ones and your community will be impacted by your legacy for years to come.

    To learn more about my heart-centered approach to estate planning, reach out to me at (650) 600-1735 to learn about my Family Wealth Planning Session process.

    This article is a service of Jeannette Marsala, Personal Family Lawyer. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, during which you’ll get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

  • Why “Just a Will” Is Never Enough

    Why “Just a Will” Is Never Enough

    When you think of estate planning, a will is usually the first thing that comes to mind. In fact, most people who contact me tell me they don’t need anything complicated for their estate- just a will. Indeed, wills have a reputation as the number one estate planning tool and can be seen all over TV shows and movies, from the dramatic “reading of the will” (which rarely happens in real life) to characters plotting how best to defraud their billionaire uncle’s will in order to inherit his lavish estate.

    But although wills are a key part of your estate plan – and a big part of the movies – relying on a will alone won’t solve your estate planning needs – no matter what Hollywood says. Instead, using just a will to plan your final wishes is likely to leave your loved ones with an expensive mess that won’t distribute your assets in the way you intended.  

    What’s more, a will alone won’t ensure that you’re taken care of in the event of incapacity, and contrary to what you might think, relying on only a will actually guarantees that your family will need to go to court when you die.

    If you don’t want to leave your family with a mess if something happens to you, it’s important to know how a will works and when it can be used to benefit you and your family. 

    What Exactly Is a Will and How Does it Work?

    A will is a written document that directs how the creator of the will wants their possessions disposed of after their death. The creator of the will is called the testator or testatrix. In your will you can name someone you trust to manage the distribution of your assets, called your personal representative or executor. You can also write out what you want to have happen to your property, what charitable gifts you want to make, and who will receive them.

    A will can be a complex document or a very simple document. You can even write your will on a napkin if you really want to!

    With that said, a will isn’t a legally binding document unless it’s executed according to the laws of the state where you reside. In general, you need to sign your will in front of a witness, and sometimes a notary. 

    Some states have laws that allow you to create a will that isn’t witnessed at all so long as it is handwritten by the testator themselves. But because every state has different laws for the creation of a will, it’s important to consult with an experienced estate planning attorney (like me) to create your will rather than trying to write your own.

    A Will Requires Probate Court

    One of the biggest estate planning myths I hear from clients is the belief that by having a will, their loved ones won’t need to go to court after they die.

    This is sadly the opposite of the truth.

    If you use only a will as your main method of estate planning, you are actually guaranteeing that your loved ones will go to court after you die because a will is required by law to go through the court system called probate before any of your assets can be distributed. In fact, a will is only effective within the probate court.

    Once your will is admitted to the court after your death, your personal representative or executor will be given official authority to move your assets under the court’s supervision. This ensures your property is distributed according to your wishes and that the court can intervene if there are any disputes over who gets what.

    While court oversight can be helpful if there is any confusion or disagreement about your estate, the probate process is long and expensive. For very small estates, the process may take about 6 months, but for most estates, the process can take 12 – 18 months or sometimes even more. 

    Due to the length and complexity of the process, going through probate can easily cost your family tens of thousands of dollars. Some states even require that probate cost a certain percentage of your estate’s value.

    In addition, because probate is a public court proceeding, your will becomes part of the public record upon your death, allowing everyone to see the contents of your estate, who your beneficiaries are, and what they’ll receive. Unfortunately, it’s not uncommon for scammers to use this information to try to take advantage of young or vulnerable beneficiaries who just inherited money from you.

    A Will Does Not Apply to All of Your Assets or All of Your Needs

    Although movies make it seem like you can and should leave all your property to your loved ones through your will, a will actually only covers certain items of your property, including any property owned solely in your name and any property that doesn’t have a beneficiary designation.

    A will doesn’t cover property co-owned by you with others listed as joint tenants or owned as marital property, meaning you can only give away your share of any property you own with others, not the entire property.

    Any assets that have a beneficiary designation, like retirement accounts or life insurance, aren’t controlled by your will at all but will instead be paid out to the person listed as your beneficiary on each account. Because of this, it’s especially important to make sure your account beneficiaries are up to date.

    In addition, a will has no power until you die, so you can’t use it to give someone you trust the power to make decisions for you if you’re incapacitated due to illness or injury. Even if you named someone in your will to manage your estate or watch over your children, that person will have no authority to do so while you’re alive. 

    Don’t Just Get a Will, Get an Estate Plan

    With all the issues that using a will for estate planning can create, you might be wondering why a will is even used at all. The thing is, a will isn’t the one-and-done solution that most people are led to believe by TV shows and even some lawyers.

    Instead, a will should be used as a piece of your overall estate plan, not as the entire plan itself.  And ideally, your will shouldn’t even need to be used at all. 

    How can that be? Well, an estate plan isn’t just one or two documents – it’s a range of tools and coordinated planning that makes sure everything and everyone you love is taken care of.

    And by using better tools like a trust instead of a will as your main tool for estate planning, you can direct what happens to your property while avoiding probate court entirely and ensuring the people you trust can step in and manage your assets immediately if you become incapacitated because of an illness or injury. 

    In addition, any assets you put in the name of your trust are entirely private, meaning the court and the public will never know what you own or who will inherit it after you’re gone. 

    When using a trust-based estate plan, you’ll still have a will, but your will should only need to serve as a backup and safety net to make sure that any assets that are accidentally left out of your trust at your death are added back into your trust.

    And, even more important than both a will and a trust, is an inventory of your assets so your family knows what you have, where it is, and how to find it when you become incapacitated or die. Without an inventory of your assets, your family will be literally lost when something happens to you. A comprehensive inventory updated throughout your lifetime is a critical, and often overlooked, piece of an estate plan that is not “just a will.”

    If you’re ready to see how having an estate plan for your family is different than having “just a will,” schedule your Family Wealth Planning Session today. During the session, we’ll review an inventory of everything you have and everyone you love, and together look at what would happen to your possessions and loved ones when something does happen. Then I’ll help you develop a plan to make sure your loved ones are taken care of when you can’t be there and that your plan works for you, and for them, exactly as you want it – at your budget and within your desires. 

    Most importantly, I don’t just create documents. I guide you and your family through every step of the process, now and at the time of your passing. I even help all of my clients pass on something more valuable than their money – their values, stories, and wisdom – through a Family Legacy Interview.

    To get clear on what you really do need for yourself and the people you love, call (650) 600-1735 so you can get on the road to your Family Wealth Planning Session today.

    This article is a service of Jeannette Marsala, Personal Family Lawyer. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, during which you’ll get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

  • Create a Stronger Blended Family Through Estate Planning

    Create a Stronger Blended Family Through Estate Planning

    Blended families were once considered “non-traditional” families, but today, blended families are becoming just as common as non-blended families. Currently, 52% of married couples (or unmarried couples who live together) have a step-kin relationship of some kind, and 4 in 10 new marriages involve remarriage. 

    If you’re part of a blended family, you’ve probably recognized the extra layer of complexity that comes with planning for your family’s needs and accommodating the many relationships that exist between step-parents, step-kids, and step-siblings. Topics that might be straightforward for a “traditional” family – such as where to spend the holidays or who gets the old family car  – are more complex. 

    Feelings tend to be more sensitive, as the person in a “step” role may feel self-conscious about their place as the “outsider” of the family, whereas on the other hand, one parent’s children may feel put out by the addition of a new step-parent, step-sibling, or half-sibling when their mother or father remarries.

    In a blended family, you work hard to navigate these complexities to keep the family unified and happy. But what you might not know is that our laws for what happens if you become incapacitated or die are still very much based on the traditional family model, which means that your blended family will likely end up in court and conflict without planning for them in advance.

    What Estate Law Says About Blended Families

    Every state has different provisions for what happens when you become incapacitated or die, and the laws of the state where you become incapacitated or die may or may not match your wishes. What’s more, even though you may see your step-family members the same way as your blood relatives, the law does not.

    For example, in Colorado, if you’re survived by a spouse, your surviving spouse would only receive a part of your estate if you have living children (or parents!), and your living children or parents would receive the rest. And the amount your spouse receives is variable based on the number and ages of your children.

    In contrast, in California, all community property assets would go to your surviving spouse, and separate property assets would be distributed partially to a surviving spouse and partially to children, if living, in amounts depending on the number of surviving children.

    In Texas, it can get very complex, depending on whether your assets are separate or community, and whether you have children from the marriage, no children from the marriage, or living parents or siblings.

    As you can see, what’s true for what happens when you die may not result in the outcome you want for your loved ones, especially in a blended family situation. That’s why it’s so important to create an estate plan for your blended family well in advance, and I encourage you to discuss your plan with the members of your family to avoid hurt feelings, confusion, or pain in the future.

    Avoid Conflict in Your Blended Family Through Open Communication

    Estate planning is often seen as a highly private affair, but it doesn’t have to be, and oftentimes, shouldn’t be. In the case of a blended family, having open conversations with your loved ones about your estate plan and your goals for the family can save them from hurt feelings and even court battles in the future.

    Like all families, how you plan for your blended family will depend entirely on your family dynamics, your family members’ situations, and your own personal values for how an inheritance should (or shouldn’t) be received and what kind of legacy you want to leave behind.

    Maybe you have step-kids and biological kids but want all of your children to inherit an equal share from you and your spouse. Maybe there’s a large age gap between your step-kids and biological child, so you want to make sure that your youngest has the financial support they’ll need if something happens to you, whereas the older children are able to support themselves. 

    Maybe you have a step-parent or step-sibling that you would want to gift a special item of yours like a watch or necklace. Well, for better or worse, a person you have a step-relationship with has no right to inherit from you under the law, unless you put your plan in writing. 

    You don’t need to give away every detail of your will or trust, or tell everyone who you named to make decisions for you if you’re incapacitated. Instead, start by having an open conversation about the general goal of your estate plan, such as wanting everyone to have an equal share, or that you want to provide more for your biological children because your step-children will already receive a full inheritance from their other parent.

    By taking the mystery out of your estate plan goals, your stepchildren will feel included in the discussion and feel like they’re knowledgeable about your plan, rather than feeling hoodwinked or hurt if they find out later that your plan doesn’t align with the expectations they created for it in their minds.

    Most importantly, let the people in your life know you value and love them, and that no matter how they’re related to you, you care about them and want them to inherit not just material things from you, but also your values, stories, and legacy.

    Create More Than a Plan, Create a Family Legacy

    To make sure your wishes for your blended family are followed in the event of your death or incapacity, it’s essential to have a well-crafted estate plan created by an attorney experienced in serving blended families. I know all too well the importance of planning for blended families and can help you navigate your options and desires for your family’s plan.

    But what really sets me apart from other estate planning lawyers is that I know that your material possessions are only a small part of a successful estate plan. What will really matter to your family members, no matter how they became your family, is your legacy. 

    Instead of leaving your family a mess to be battled over in court, leave your family an example of financial wellness, of a plan filled with personal values and family history. 

    To do this, I include what I like to call a Family Legacy Interview with all of my estate plans. During this interview, I give you the opportunity to leave your most important assets – your values, stories, and heart – to your family in a meaningful way that they’ll cherish for years after you’re gone.

    For a blended family, the Family Legacy Interview can be even more valuable, because it gives you the opportunity to really speak to your loved ones about the plan you created for them and how much you value the place they hold in your heart.

    If you want to protect your blended family from a court battle and emotional conflict, give me a call today at (650) 600-1735 to schedule a Family Wealth Planning Session. During the session, I take the time to really get to know you and your family’s unique situation and educate you about what exactly will happen to your family under the law if something happened to you right now, so you can make confident decisions about what’s right for your family. Even more, I welcome you to invite the members of your blended family to be a part of the conversation.

    Schedule your session today at (650) 600-1735.

    This article is a service of Jeannette Marsala, Personal Family Lawyer. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, during which you’ll get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

  • Leaving Your Pet in Your Will Won’t Protect Them – Do This Instead

    Leaving Your Pet in Your Will Won’t Protect Them – Do This Instead

    If you’re a pet owner, you know the special bond that exists between you and your pets, and to many pet owners, our furry friends aren’t just a pet – they’re a loved and important part of our families. So if you’re thinking about how best to provide for your family after you die or if you become incapacitated, it makes sense for your beloved pet to be a part of the plan.

    You want your pet to continue to have the kind of love and care you provided during your life, but estate planning for furry friends requires a little more thought than you might expect. 

    To understand why, it’s important to know two things:

    • A pet is considered property under the law.
    • When someone receives a gift of property through a will, that person can do whatever they want with that property, including your pet.

    A Will Won’t Cut It

    While you see them as part of the family, under the law, a pet is considered personal property, just like your money, furniture, and clothes. Because of this, you can’t actually leave money or possessions to your pet directly through your will or trust. Even if you try to leave money directly to your pet in your will, the money will instead skip your pet and pass to the beneficiaries you named to receive the remainder of your possessions. Or, if you didn’t name anyone else, the court will give your possessions, including your pet, to your next of kin, as determined under the law.

    Worst of all, the person that receives your pet and money for its care through your will has no legal obligation to use that money for your pet’s care or to even keep your pet at all. That’s why it’s so critically important to work with an estate planning attorney who knows the proper way to plan for your pet, so that when you die or if you become incapacitated, your beloved companion won’t end up in an animal shelter or given away to anyone you wouldn’t want raising your beloved familiar.

    A Will Provides No Guarantees For Their Future

    Because you can’t leave money to your pet directly, your first thought might be to leave your pet and money for its care to someone you trust through your will instead. While this is an option, it’s not guaranteed to work.

    That’s because the person you name as the beneficiary of your pet in your will has no legal obligation to use the funds you leave for your pet’s care for that purpose. Even if you leave detailed instructions for your pet’s care, there is no law holding the beneficiary to accept the responsibility of caring for your pet or stopping them from changing their mind in the future after the court probate process is finished.  

    You might be thinking that the person you’d leave your pet to loves them and would never think of abandoning them. But even if this person is committed to caring for your pet, it’s simply impossible to predict what circumstances might occur in the future that could make it impossible for them to provide for your pet for your pet’s full lifetime.

    For example, when you die, the new caregiver might:

    • Live in an apartment or condo that doesn’t allow pets
    • Suffer from an unforeseen illness that makes it difficult to care for your pet
    • Have an allergy to your pet you knew nothing about
    • Become so busy with work or family that they just don’t have the time to make a lifelong commitment to your pet’s care

    A Will Isn’t Fast Enough

    The other issue a will creates for your pet is that a will is required by law to go through the court process known as probate before any of your property can be distributed to the people you’ve named, and of course, it only operates in the event of your death, not your incapacity. 

    The probate process itself can take months or even years to complete. During that time, your pet could be passed around between family members and friends, who may even argue over who should care for it. In the worst-case scenario, no one may even think to check in on your pet regularly while the court process is unfolding.

    Plus, a will only goes into effect upon your death, so if you’re incapacitated by accident or illness, it would do nothing to protect your companion. This leaves your pet in limbo and vulnerable to being re-homed to someone you wouldn’t have chosen or wanted to care for your pet. In the worst scenario, your pet could be surrendered to a shelter by the time everything gets figured out.

    Provide Long-Lasting Care for Your Pet Through a Pet Trust

    In order to be completely confident that your pet is properly taken care of and that the money you leave for its care is used exactly as intended, ask us to help you create a pet trust.

    By creating a pet trust, you can lay out detailed, legally binding rules for how your pet’s chosen caregiver (the trustee) can use the funds you leave for your furry friend. And unlike a will, a pet trust doesn’t go through probate, so it goes into effect immediately in the event you become incapacitated or pass away, whereas a will requires the court process called probate to take place before any decisions can officially be made about your pet.

    Additionally, in a pet trust, you can name backup trustees who will receive your pet and any funds left for them if the first person you chose as trustee declines to take your pet or isn’t able to care for them in the future. To add even more certainty to your pet’s future, you can name multiple trustees for your pet. In this way, you’d have two people invested in the care of your pet who can see that the money you leave for its care is used wisely. 

    Finally, all of the care decisions and financial distributions for the care of your pet will happen in the privacy of our office, in the event of your death or incapacity. We’ll guide your decision-makers about how and why you made your decisions, and how they need to care for your pet to receive distributions. You’ll literally have a lawyer ensuring the care of your pet happens as you would want it. While that may seem excessive for some, we have many clients who care that much about the well-being of their pets and want to ensure their care is handled as they want.

    Do Right By Your Pet

    Don’t leave your beloved pet’s future up to chance. Let us help you create a pet trust that will provide for your furry friend’s long-term care and be there for your pet and your decision-makers when you cannot be.

    At our firm, we can help you create a legally binding pet trust that outlines detailed rules for how your pet’s chosen caregiver can use the funds you leave for their care. Unlike a will, a pet trust doesn’t go through probate, which means it goes into effect immediately if you become incapacitated or pass away. We’ll be there for the people you love when you cannot.

    Contact us today at (650) 600-1735 to schedule a consultation and ensure you’re doing right by your pet.

    This article is a service of Jeannette Marsala, Personal Family Lawyer. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, during which you’ll get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

  • Stephen “tWitch” Boss Dies Without a Will

    Stephen “tWitch” Boss Dies Without a Will

    Stephen Laurel Boss, also known as “tWitch,” was an American DJ, hip-hop dancer, choreographer, television producer, and actor whose personality lit up the stage on So You Think You Can Dance and as a producer and frequent guest host on The Ellen Degeneres Show. Boss also co-hosted the TV show Disney’s Fairy Tale Weddings alongside his wife and fellow dancer, Allison Holkers. 

    Boss and Holkers shared a seemingly extremely happy life together in Los Angeles, California where they were raising their three children, ages 3, 7, and 14. Sadly, on December 13, 2022, Boss died by suicide at the age of 40. Boss’ death was a complete shock to fans and loved ones who reported the star seemed happy in the weeks leading up to his death. 

    Boss died without a will or trust in place, meaning his wife, Allison Holker, has the task of petitioning the California court system to release Boss’ share of their assets to her. While California has tools to simplify this process for some couples, Holker will still need to wait months before she can formally take possession of the property Boss owned with her, as well as property held in his name alone, including his share of his production company, royalties, and his personal investment account.

    Unnecessary Court Involvement In a Time of Grief

    In order to have access to her late husband’s assets, Holker had to make a public filing in the Los Angeles County Probate Court by filing a California Spousal Property Petition, which asks the court to transfer ownership of a deceased spouse’s property to the surviving spouse. Holker must also prove she was legally married to Boss at the time of his death. 

    While California’s Spousal Property Petition helps speed up an otherwise lengthy probate court process, the court’s involvement nonetheless delays Holker’s ability to access her late husband’s assets – a hurdle no one wants to deal with in the wake of a devastating loss. In addition, the court probate process is entirely public, meaning that the specific assets Holker is trying to access are made part of the public record and available for anyone to read. 

    During such a difficult time, all a person wants is the space to mourn and manage their loved one’s affairs in privacy and peace. With court involvement, the timeline of steps that need to be taken is dictated by the court, and the process of proving your right to manage your loved one’s assets can feel like an unfair burden when there are so many other things to take care of during the death of a loved one.

    This isn’t just a problem for the wealthy. Even if you own a modest estate at your death, your family will need to go through the probate court process to transfer ownership of your assets if you don’t have an estate plan in place.

    How to Prevent This From Happening to Your Loved Ones

    When someone dies without an estate plan in place, the probate court’s involvement can be a lengthy and public affair. At a minimum, you can expect the probate process to last at least 6 months and oftentimes as long as 18 months or more. Court involvement in Boss’ passing could have been completely avoided if Boss and Holker had created a revocable living trust to hold their family’s assets. If they had, Holker would have had immediate access to all of the couple’s assets upon Boss’ death, eliminating the need to petition a court or wait for its approval before accessing the funds that rightly belong to her. 

    A trust would have also kept the family’s finances private. With a trust, only the person in charge of managing the trust assets (the trustee) and the trust’s direct beneficiaries need to know how the assets in a trust are used. There is also no court-imposed timeline on the trustee for taking care of your final matters (with the exception of some tax elections), so your family can move at the pace that’s right for them when the time comes to put your final affairs in order.

    The privacy that a trust provides also helps to eliminate potential family conflict because only the parties directly involved in the trust will know what the trust says. If issues between family members arise over the contents of the trust, the trust will lay out all of your wishes in detail, so that all family members are on the same page and understand your wishes for the ones you’ve left behind.

    Guidance for You and the Ones You Love

    Most importantly, creating a revocable living trust through usensures your loved ones have someone to turn to for guidance and support during times of uncertainty. No one expects the sudden loss of a loved one, but when it happens, your world is shaken. Even the simplest tasks can feel overwhelming, let alone the work involved to manage a loved one’s affairs.

    That’s why we welcome you to meet with us for a Family Wealth Planning Session to discuss your wishes for when you die or if you become incapacitated. During the session, we’ll walk you through all of your options for estate planning and how your choices will impact your loved ones after you’re gone. We even encourage you to bring your family with you to your planning session so they have a chance to meet us. 

    If you’re ready to start the estate planning process, contact us at (650) 600-1735, or click the link in the paragraph below to schedule your Family Wealth Planning session today.

    This article is a service of Jeannette Marsala, Personal Family Lawyer. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, during which you’ll get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

  • 3 Simple Mistakes That Can Derail Your Estate Plan

    3 Simple Mistakes That Can Derail Your Estate Plan

    If you’re tempted to use a DIY estate planning service or have already created a plan you aren’t 100% confident in, be sure to read how these three simple mistakes can derail your estate plan and leave your family with an expensive mess.

    We regularly meet with clients who ask us to review an estate plan that they created online or with an attorney who isn’t experienced with estate planning. You see, these clients usually think they found a faster and cheaper solution to estate planning, but once the plan is signed and done, they’re often left wondering whether this “cheap” plan will actually accomplish their goals, or if it will leave their family with a big mess instead. What I see time and again when I review these estate plans are poorly designed plans with simple but devastating mistakes. What’s more, these clients wouldn’t even realize their plan had these mistakes if they hadn’t met with us! 

    While it might seem simple enough to put together a trust online or have your tax attorney prepare your will, it can be very difficult to create an estate plan that works without the proper training and experience. What might seem like minor details to the inexperienced eye can often have major effects on your plan’s final outcome. 

    More often than not, clients who meet with us to review a DIY plan find out that instead of saving money on their estate plan, they’ve actually cost themselves much more by buying a plan that has mistakes. And if these mistakes aren’t caught by you while you’re alive and well, your loved ones will be the ones paying the price to resolve them after you’re gone.

    Here are the three biggest mistakes I see when reviewing DIY and low-cost estate plans:

    Leaving Assets Outright to Loved Ones 

    One of the simplest mistakes you can make in estate planning is distributing your assets directly to your beneficiaries upon your death. This is a bad idea for several reasons:

    • The assets have no protection from your beneficiaries’ creditors once they leave your estate.
    • The money can be squandered and used however the beneficiary wants.
    • If the beneficiary is a minor, a court will decide who manages the assets and how they’ll be used.

    Instead of gifting your assets directly to your beneficiaries, distribute your assets into a trust for the beneficiaries’ benefit. When creating a trust, you can choose who will manage your assets for your beneficiaries while also sheltering those assets from your beneficiaries’ creditors or their own poor money-management skills.

    Setting up a trust to hold your assets is especially important if you have minor children. Minors cannot own money on their own, which means they can’t receive any assets from you directly on your death. Instead, a court will need to appoint a trustee or conservator to manage the assets you leave for your children. There’s a high chance that the person the court appoints will not be the person you would have chosen yourself. And if the court appoints a professional trustee, your assets will be reduced by expensive trust administration fees.

    A court-appointed trustee will distribute the assets to your children outright when they reach the age of 18, but this only puts the assets at risk. Few young adults have the maturity or knowledge to manage a large sum of money responsibly so that it can grow and support them over time. Even if your adult child is responsible or has guidance from someone you trust, those assets are still susceptible to any lawsuits, divorces, and unforeseen financial troubles your child may experience in the future. 

    Instead of leaving assets outright to a minor or young adult, leaving your assets in a trust, established for the child’s benefit, allows you to choose the person who will manage the assets you leave for them, helps the assets grow through careful financial management, and protects the assets from your child’s lack of experience and future risk.

    Not Creating a Lifetime Asset Protection Trust

    Creating a trust to hold your assets can provide years of asset protection for your loved ones, but that protection only exists so long as the assets are held in the name of the trust. The second big mistake I see are trusts that direct the assets to be taken out of the trust’s protection and given to your child or beneficiary at a specific age. You might not see the problem with this scenario at first, but even if your child or beneficiary is mature enough to manage a sum of money, doing this still leaves those assets susceptible to future legal and financial risks.

    Instead, everyone should consider creating a Lifetime Asset Protection Trust to hold their beneficiaries’ assets indefinitely. This gives the assets lifelong protection while still providing financial support to your beneficiaries.

    Unfortunately, most lawyers don’t understand how to use trusts to establish this kind of protection for the inheritance you’re leaving behind, and some may even try to dissuade you from using a trust at all unless you have a very large estate. Even if you’re leaving behind a small number of assets, protecting those assets and helping them grow can make a huge difference in the future well-being of your loved ones. 

    Forgetting to Update Beneficiary Designations

    This final mistake is so simple yet so easily forgotten when creating a DIY plan or using an inexperienced estate planner: forgetting to update your insurance policies and retirement beneficiary designations so they match your estate plan. While your will and trust are important parts of your estate plan, it’s vital to update your insurance policies and retirement accounts to pay out to your trust instead of directly to your beneficiaries. 

    Leaving the names of your beneficiaries on your insurance and retirement accounts instead of the name of your trust ensures the largest assets you own won’t be a part of the plan you just created. Instead, the assets will be distributed directly to the beneficiaries listed on the account, to do with however they want, even if you had other plans for protecting the funds under your trust. We’ve even seen cases where the beneficiaries named on a life insurance or retirement account are so outdated that the person named on the account isn’t even a part of the client’s life anymore!

    Estate Planning That Works

    In order to make sure your estate plan truly works the way you intend it to, it’s essential that all of your assets are reviewed and accounted for to make sure that any accounts you have reflect the name of your trust or other estate plan method. That’s why we always create an inventory of your assets and follow up with you to make sure your assets are updated into the name of your trust. We can even update your assets for you, so you can rest assured that every piece of your plan works together. 

    If you’re thinking about using a DIY estate planning service or had an estate plan created by an attorney in a different practice area,  it’s crucial to check your plan for these three simple but major mistakes. Otherwise, your estate plan might end up causing more problems than it solves, leaving your family in court and conflict.

    That’s why we offer to review your current estate plan during a Family Wealth Planning Session. During this session, you’ll have the opportunity to discuss your concerns, learn how your current plan will (or won’t) work for you, and if you don’t feel confident in your current estate plan, we’ll create a new comprehensive plan for you that will provide the protection and support your family needs for years to come.

    Don’t let a simple estate planning mistake derail your plans for your family. Schedule your Family Wealth Planning Session. Your loved ones will thank you for it!

    This article is a service of Jeannette Marsala, Personal Family Lawyer. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, during which you’ll get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

  • Top 5 Questions to Consider Before Hiring a Lawyer for Your Estate Planning Needs

    Top 5 Questions to Consider Before Hiring a Lawyer for Your Estate Planning Needs

    I know discussing topics like death, incapacity, and other potentially frightening life events, with someone like me, an estate planning lawyer, may feel intimidating or even morbid. Take a deep breath and relax… it doesn’t have to and shouldn’t be that way.

    Hiring a lawyer to help you make wise decisions for life and death can be the most empowering choice you ever make for yourself and your loved ones. The way I explain it to my friends and family is, “estate planning isn’t about planning for your death, it’s about planning for your life.” So, with that frame in mind, let’s talk about how to choose an estate planning attorney, because we aren’t all cut from the same cloth.

    The right lawyer will be there for your family when you can’t be, so you want to understand who the lawyer is as a person, not just an attorney. Of course, you’ll also want to discover the services your lawyer offers and how they run their business.

    Here are five questions to ensure you don’t end up paying for legal services you don’t need, expect, or want. Once you know exactly what you should be looking for when choosing an estate planning lawyer, you’ll be much better positioned to hire an attorney that will provide the kind of love, attention, care, and trust your family deserves.

    01 | How Do They Bill For Their Services?

    Your first question to a lawyer may be, “how much does it cost?” But that’s typically only because you aren’t clear on what else to ask. So we’re going to give you an upgrade here.

    The first question to ask isn’t “how much does it cost,” but rather, “how do you bill for your services and how do you determine what to bill for your services?”

    The right lawyer for you will have a clear answer that helps you understand how they determine how much to charge you and how you’ll be charged. They’ll set clear boundaries and expectations around fees – so there are no surprises.

    When working with an estate planning lawyer, find a lawyer who bills for all their services on a flat-fee, no surprises, basis —and never hourly—unless a court requires it for limited “court-related” services.

    Your lawyer should determine the fees they charge you only after guiding you through a process of discovery in which they learn about your family dynamics and your assets and educate you about what would happen for your family and assets if and when something happens to you. Through that process, they will help you choose the right plan that meets your budget and desired outcomes.

    At my firm, all of our fees are a flat-fee, agreed to in advance, and you choose your fee through our Family Wealth Planning Session process, during which we educate you about the law, and you educate us about your family dynamics and assets. Then, you choose the right plan, at the right price, for the people you love.

    02 | How Will Your Lawyer Respond To Your Needs On An Ongoing Basis?

    One of people’s biggest complaints about working with lawyers is a lack of responsiveness. We’ve even heard of situations in which clients went weeks without getting a call back from their lawyer. It’s unfortunate, and yet it makes sense when a lawyer doesn’t have systems in place to ensure they can serve their existing clients and respond to the needs of past clients.

    So, to ensure your lawyer can be responsive to your needs, ask them how quickly calls are typically returned in their office and if someone will be on-hand to answer quick questions when and as needed.

    Ideally, all calls to your lawyer should be pre-scheduled with a clear agenda, so you both can be ready to focus on your specific needs.

    03 | How Will Your Lawyer Proactively Communicate With You On An Ongoing Basis?

    Sadly, most lawyers fail to communicate regularly with their clients. As a result, if you’ve created an estate plan in the past, you may have had a “checked off the list and done” kind of experience and not even realized that estate planning means a lifetime of wise legal and financial decisions, not a one-and-done kind of thing.

    Unfortunately, most lawyers don’t have their business systems set up for ongoing, proactive communication. They don’t have the time to get to know you or your family and then keep your plan up to date throughout your life.

    Work with a lawyer who has systems to keep your plan updated to ensure your assets are protected (throughout your life) and who will communicate with you regularly.

    Additionally, ask them how they will proactively support you in keeping your plan up to date on an ongoing basis and be there for your loved one’s when you can’t be.

    Think of it this way: Your estate plan includes a set of documents, but your plan is far more than those documents. Your plan is an inventory of your assets, which changes throughout your life. It’s a structure and container for who and what your family will turn to when something happens to you.

    You want to work with a lawyer with systems to keep your documents up to date and ensure your assets are owned correctly throughout your lifetime. Ideally, the lawyer should get to know you and your family over time so that when something happens, your lawyer can be there for the people you love. There will already be an underlying relationship and trust.

    04 | Can You Call About Any Legal Problem Or Just About Matters Within Their Specialty?

    Given the complexity of today’s legal world, lawyers must have specialized training in one or more specific practice areas, such as divorce, bankruptcy, wills and trusts, personal injury, business, criminal matters, or employment law. You do NOT want to work with a “door law” attorney – a lawyer who professes to be an expert in whatever random legal issue walks through the door.

    That said, you do want your personal lawyer to have broad enough expertise to consult with him or her about all sorts of legal and financial issues that may come up in your life—and trust he or she will be able to offer you sound guidance about whether you have a legal issue, or not. And while your lawyer won’t be able to advise you on all legal matters, he or she should be able to refer you to other trusted professionals who can help you.

    Trust me, you wouldn’t want the lawyer who designed your estate plan also to handle your personal injury claim, settle a dispute with your landlord, and advise you on your divorce. But you do want him or her to be there to hear your story, refer you to a highly qualified lawyer who specializes in that area, and overall, serve as your go-to legal consultant.

    In this capacity, you can consult your personal lawyer before you sign any legal documents, any time you have a legal or financial issue arise, or whenever anything that might adversely affect your family or business comes up, and know that you’ll get excellent guidance.

    05 | What Happens When They Die Or Retire?

    We all die, including your lawyer. And they may retire before they die. So be sure to ask what the plan is for your plan and your family when they do.

    This is a critically important—and often overlooked—question to ask your lawyer and any service professional before beginning a relationship. Sure, it may be uncomfortable to ask. A client-centered professional will have a succession plan to ensure their clients are cared for no matter what happens to the lawyer managing your plan.

    Look for a lawyer with a detailed plan that will ensure that someone warm and caring will take over your planning without any interruption of service.

    Here at our law firm, we work with a community of lawyers just like us who serve clients as a Personal Family Lawyer with Life & Legacy Planning.  We have a network of successor attorneys who practice with the same morals and model as we do, so if anything happens to us, you will be treated with the same level of care and relationship that we provide.

    A Lasting Relationship

    Although hiring the right estate planning lawyer may not seem that important, it’s one of the most critical choices you can make for yourself and your family. After all, this is the individual you trust to serve on your behalf to protect and provide for your loved ones during one of life’s most emotionally challenging experiences.

    Should you choose the wrong person for the job, your family could face unnecessary conflicts, expenses, and legal entanglements when they’re most vulnerable. Ultimately, estate planning is far more than having a lawyer create a set of documents for you and then never seeing you again or only seeing you when something goes wrong.

    We develop a relationship with you and your family that lasts a lifetime. Our unique, family-centered legal services are specifically tailored to provide our clients with the kind of love, attention, and trust we’d want for our loved ones. To learn more about our one-of-a-kind systems and services, schedule a Family Wealth Planning Session today.

    This article is a service of Jeannette Marsala, Personal Family Lawyer. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, during which you’ll get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

  • Estate Planning Before You Travel: Why It’s Critically Important

    Estate Planning Before You Travel: Why It’s Critically Important

    Vacations can be the perfect opportunity to relax, disconnect from work and responsibilities, and enjoy your spouse, partner, kids’ or friend’s company. But before you head off on your next getaway, there’s something else you should consider doing that might not sound quite as fun—creating an estate plan. While it may not sound like the most thrilling way to spend a day, here are some reasons why you need to think about your estate plans before you travel. 

    • An estate plan ensures any medical decisions needed while away from home will be handled according to your wishes, and with as much ease as possible, no matter what the rules are where something happens. If you fall ill or become injured and can’t make medical decisions for yourself, your estate plan will ensure that decisions will be made by the person you choose, and with your indicated desires for your care at the forefront.
    • Without an estate plan in place, your family or friends could have a heavy lift to get you back home, locate your assets, keep your bills paid, and even ensure your children get taken care of by the right people in the right way.
    • Lastly, an estate plan ensures that any debts or liabilities are taken care of properly in case something happens while on vacation. This can help prevent creditors from trying to collect from surviving family members after the fact — something no one wants to deal with during such a difficult time. 

    Yes, Even Married Couples Need an Estate Plan

    You might think that because you’re married, you don’t need an estate plan. Or you might even think your will is enough and would just handle everything. But that’s generally not the case.

    Even if you’re married, you still need medical powers of attorney, making it clear that you want your spouse making medical decisions for you, or even potentially adding in additional decision-makers. You still want a living will to give clarity on how you want medical decisions made for you. 

    Finally, if you have dependent children, you want to ensure you’ve made it as easy as possible for their care needs to be continued by the people you want, in the way you want. Without a plan in place, decisions around their care could be tied up for months, including access to the financial assets their caregivers would need to ensure they have what they need along the way.

    The Benefits of Working With an Attorney 

    While you can create an estate plan without legal assistance, there are serious risks to the people you love, if your plan isn’t completed, not updated after it’s been done once, or not completed properly. The only real guarantee for the people you love to have as much ease as possible, is if you work with an experienced attorney specializing in estate planning, and particularly Life & Legacy Planning. We understand what needs to go into a thorough and complete estate plan — as well as the potential pitfalls or issues that could arise due to your unique personal and family dynamics — so you can rest assured knowing everything is being taken care of properly before you embark on your trip. 

    We can advise you on other important documents such as Wills, Trusts, powers of attorney (POA), health care directives (HCD), and guardianship paperwork (for minor children) so you can make informed decisions based on what you want to have happen if you become incapacitated or die. All these items should be considered when creating an effective estate plan — especially when one or both parties will be traveling outside their home country at any point. 

    Don’t Let a Lack of Planning Dampen Your Vacation Spirits! 

    Taking a few simple, yet critically important, steps now can save you and your family considerable headaches down the road if anything were ever to happen while on the road—not only do we want you to enjoy each moment spent together, but we want peace of mind knowing that whatever comes your way is handled according to your wishes! 

    We can help put a plan together now so that you don’t forget about this important task before packing up for your next adventure. Making sure all your affairs are in order will ensure nothing stands in the way between you and enjoying time together! Contact us today to get started.

    This article is a service of Jeannette Marsala, Personal Family Lawyer. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, during which you’ll get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

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