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  • Navigating the World of Cryptocurrency: A Guide for Parents and Teens

    Navigating the World of Cryptocurrency: A Guide for Parents and Teens

    In an era where digital innovation shapes every aspect of our lives, it’s no surprise that our teenagers are drawn to the allure of cryptocurrency. This digital form of money represents a shift away from traditional financial systems. If you’re the parent of teens, understanding cryptocurrency is crucial so you can provide them with the guidance they need to navigate this new world safely and wisely. I’m here to help you learn what you need to know.

    What is Cryptocurrency, Exactly?

    Cryptocurrency, which folks also call “crypto” is, in essence, virtual money that can be used to buy goods and services. It can also be traded for profit, much like stocks. However, unlike the dollars in your wallet, crypto exists only in the digital world. The crypto universe is vast, with thousands of digital currencies out there.

    Crypto is based on blockchain technology, which ensures transactions are secure, transparent, and decentralized, so they’re not controlled by any government or financial institution (there are pros and cons to this that we’ll describe below). Imagine blockchain as a digital Lego tower where each block represents a piece of information, and once a block is added to the tower, it can’t be removed or altered, making it a super secure way to keep track of cryptocurrency transactions – kind of like a high-tech, unbreakable diary.

    A critical component of understanding cryptocurrency is the concept of a crypto wallet. Unlike a physical wallet, a crypto wallet doesn’t store currency; instead, it holds secure digital keys that allow access to cryptocurrencies.

    What Parents of Teens Need to Know

    To the younger, digital-native generation, cryptocurrency is an exciting and innovative concept. They’re not afraid of technology and investing online. They’re aware of the potentially significant returns on investments, stories of cryptocurrency millionaires, and the prospect of being part of a cutting-edge financial movement. This is why crypto is very attractive to teens.

    Parents should know that while there are no laws specifically prohibiting teens from owning or trading cryptocurrency, most platforms and exchanges require users to be 18 years old. For eager and younger investors, custodial accounts present a solution. These accounts allow parents to oversee their teen’s investments, providing a controlled environment where teens can learn about digital currencies.

    These accounts not only allow parents to monitor their teen’s investment activities but also offer a hands-on educational experience in managing and understanding digital currencies. It’s a balanced approach that combines the practical aspects of investing with the security of parental oversight. And if you’re a business owner, you may want to consider paying your kids and then putting up to $7,000 of what you pay them into a Roth IRA using cryptocurrency and a self-directed IRA structure. By doing this, you can invest that $7,000 in cryptocurrency, and let it ride for the next 50 years. Imagine what it will be worth to them then, and it will grow 100% tax-free.

    For more information about custodial accounts and self-directed IRAs invested in cryptocurrency, schedule a call with us.

    Be Aware of the Risks

    While learning how to invest in crypto can be a great learning activity for you and your teen, be aware of the risks involved. For one, the crypto market is highly volatile. Prices can surge or plummet within a short period, making investments speculative and risky. It’s crucial to have open discussions with your teen about the importance of not investing more than they can afford to lose, and about the reality of the speculative nature of digital currency. Teach your teen the importance of research, diversification, and long-term thinking, and you’ll help instill responsible investment habits that will last a lifetime (and make you proud!).

    Most importantly, ensure you know how to get into their cryptocurrency accounts in case something happens, and that someone knows how to get into your accounts as well. The biggest risk to your cryptocurrency investments is that you haven’t documented them such that someone could access your accounts when something happens to you. Contact us and let us help!

    Alternatives and Best Practices

    For families that find direct investment in cryptocurrency too daunting, there are alternative ways to engage with the digital economy. Encouraging your teen to learn about blockchain technology or exploring investments in crypto-related stocks and ETFs can provide a safer introduction to the concepts without the direct risks associated with cryptocurrency trading.

    However, if you’re ready to make a go at it, here are some best practices to keep in mind:

    Foster a Culture of Learning. The rapid evolution of digital currencies makes continuous learning essential. Encourage your teen (and take the opportunity yourself) to stay informed about the latest developments by reading reputable news sources, listening to podcasts, and even speaking with a financial advisor.

    Establish Guidelines. Before your teen makes any financial investment, it’s important to establish clear guidelines. Discuss together how much time and money is reasonable to invest, the importance of privacy and security in digital transactions, and the expectations for responsible behavior. Setting these ground rules early on can lay a strong foundation for healthy financial habits.

    Embrace the Future. Regardless of whether your teen decides to invest in cryptocurrency, understanding this new facet of the financial world is invaluable for you. The rise of digital currencies offers a unique opportunity for parents and teens to learn together about the future of money, technology, and personal finance. It’s a chance to explore new concepts, discuss values and responsibilities, and prepare for a future where digital currencies may play a significant role.

    Prepare Yourself and Your Teen With Our Guidance

    Whatever the future holds, we believe it’s important to educate your children about finances so you leave a legacy of fiscal responsibility when you’re gone. That’s why we help ensure that when you’re no longer here, your assets – including cryptocurrency – are passed on the way you want, easily, and without your family ending up in court and conflict. We do that by approaching estate planning as a relationship – a lifetime relationship with you as your and your family’s trusted advisor so you have someone to turn to in times of change and uncertainty, and in times of joy and excitement.

    To learn more about how we can guide you and your family to secure the future you want, schedule a complimentary 15-minute call with our office.

    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 Life & Legacy 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 Life and Legacy Planning Session.

  • Think Your Kids Will Automatically Be Cared For In the Way You Want? They Might Not Be Unless You Do This

    Think Your Kids Will Automatically Be Cared For In the Way You Want? They Might Not Be Unless You Do This

    As parents, we’re hardwired to prioritize our children’s well-being above all else. We work tirelessly to provide for them, nurture them, and ensure they have every opportunity to thrive. Yet amidst the hustle and bustle of daily life, it’s easy to overlook a crucial aspect of their future: what happens to them if we’re no longer here to care for them?

    It’s a sobering thought, but one that deserves your attention. You may assume that in the event of your untimely passing, your children will automatically be cared for and inherit your assets. However, the reality is far more complex and potentially unsettling.

    Let’s unpack why relying on these assumptions could leave your children’s future in uncertain hands.

    The Myth of Automatic Care

    Yes, it’s true that your children will inherit your assets upon your passing. However, without advance planning, the management of those assets will fall into the hands of a court-appointed trustee. This is an expensive proposition for the people you love most, and worse, the trustee may not necessarily align with your values or financial philosophy, leaving your hard-earned assets vulnerable to mismanagement.

    On top of that, and maybe worst of all, under current laws, once your child reaches the age of 18, they gain unfettered access to their inheritance. While you may have envisioned these assets providing a foundation for their future endeavors, the reality is that many 18-year-olds lack the financial maturity to handle such responsibility. From impulsive spending to falling prey to financial scams, the risks are significant.

    The Importance of a Kids Protection Plan

    What’s the solution? Enter the Kids Protection Plan—a comprehensive legal planning system designed to safeguard your children’s well-being and financial future in the event of your incapacity or passing.

    A Kids Protection Plan empowers you to designate a trusted guardian who will step in to care for your children if you’re unable to do so. This ensures your children will be in the loving care of someone you know and trust, rather than leaving their fate to the discretion of a judge who may lack intimate knowledge of your family dynamics.

    Moreover, a complete Kids Protection Plan goes beyond long-term guardianship appointments. It includes a detailed roadmap for the management of your assets on behalf of your children, specifying how funds should be allocated for their upbringing, education, and other needs. By setting clear guidelines, you mitigate the risk of financial mismanagement and ensure that your children’s inheritance serves its intended purpose: supporting their growth and development.

    Leave Behind Detailed Instructions

    Naming legal guardians is just the first step. Your Kids Protection Plan won’t do much good if the people named in it aren’t aware of your plan or your wishes. You want to make sure your children’s guardians know your desires for their upbringing. Some things to include might be:

    • Faith and religious practices
    • Philosophy on education and where you’d want them to go to school
    • Activities you’d want your children involved in
    • Nutrition, medical care, or any other health considerations

    I make sure that everyone named in your plan is informed of what to do if the unthinkable happens to you. If you’re working with me, I’ll be there to guide them each step of the way. 

    Planning for the Future

    We understand the gravity of planning for your children’s future. That’s why we offer personalized Life & Legacy Planning Sessions designed to consider your family dynamics and assets, and then help you choose the right planning package and fees to safeguard and protect what matters to you most.

    Whether you’re a new parent or revisiting your estate plan, our team is here to provide the guidance and expertise you need to secure your family’s future for generations to come. Schedule a complimentary 15-minute call to learn more about our unique Life & Legacy Planning process. During your complimentary 15-minute call, we’ll explore your current arrangements and identify any gaps that may leave your children vulnerable.

    Don’t leave your children’s future to chance. Take the first step toward peace of mind and lasting security. After all, your children deserve nothing less than the assurance that they’ll be cared for and cherished, no matter what the future holds.

    Schedule a complimentary 15-minute call 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 Life & Legacy 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 Life and Legacy Planning Session.

  • This Change to The FAFSA Rules Could Help Your Grandkids Qualify for More Student Aid

    This Change to The FAFSA Rules Could Help Your Grandkids Qualify for More Student Aid

    Want to contribute to your grandchild’s future college education? The FAFSA Simplification Act, which went into effect last month, now makes it possible for grandparents to do even more to help finance their grandchild’s education.

    In the past, any contributions or distributions from a grandparent’s 529 college savings plan were subject to FAFSA reporting, potentially impacting the student beneficiary’s eligibility for federal financial aid. The new changes, however, bring a breath of fresh air. 

    In this blog, you’ll learn what has changed under the new rule and how grandparents can leverage it to support their grandchild’s educational pursuits.

    Understanding the 529 Account

    First things first – what exactly is a 529 college savings account? It’s a special savings account designed to help individuals, including grandparents, set aside money for future college expenses. Contributions aren’t federally tax-deductible, but the good news is that earnings within the account grow tax-free. When funds are withdrawn for qualified education expenses, they remain untaxed.

    What The New Rule Changes

    When the account owner is a dependent student or custodial parent, the total value of the 529 plan is reported as an investment asset on the Free Application for Federal Student Aid (FAFSA). Previously, if a grandparent owned the 529 plan, any distributions were considered untaxed income for the student, potentially affecting financial aid eligibility. The upcoming change eliminates this concern.

    In a nutshell, a 529 plan owned by a grandparent will no longer require reporting on the FAFSA. Even more impactful is that distributions from this grandparent-owned 529 plan will not be deemed as untaxed income for the student. This opens up opportunities for grandparents to contribute to their grandchild’s education without jeopardizing financial aid eligibility.

    Maximizing Grandparent Contributions

    It’s important to keep the following in mind when you make contributions to a 529 account for a grandchild:

    1 | Funds Must Be Used For Qualified Educational Expenses

    Grandparents can use 529 plan funds for a range of qualified educational expenses, including tuition, room and board, books, supplies, laptops, and internet access. However, certain expenses like insurance, student health fees, transportation, and extracurriculars aren’t covered and may incur a ten percent penalty if 529 plan funds are used toward these expenses.

    2 | The Annual Gift Exclusion

    While grandparents can contribute to their grandchild’s 529 plan, it’s essential to be mindful of the federal annual gift exclusion, which is the amount of money a person can gift to someone else without needing to file a gift tax return. The limit currently stands at $18,000 for an individual and $36,000 for those filing jointly with a spouse. A special rule allows gift givers to spread larger one-time gifts across five years to stay within their lifetime gift exclusion.

    3 | Reconsider Payments Made Directly to The School

    Distributions directly paid to the school from grandparent-owned 529 accounts won’t affect aid eligibility. However, for now, it’s recommended to pay the grandchild directly.

    4 | Timing Matters

    When withdrawing funds from the 529 plan, it’s crucial to do so within the same tax year as the educational expenses. This strategic move ensures smooth financial transactions and adherence to tax regulations.

    5 | Watch Your Withdrawal Limits

    The amount withdrawn from all 529 plans should be no more than the total cost of the qualified educational expenses billed by the school. Excess withdrawals may incur a 10 percent penalty, but there’s a 60-day window to rectify the situation without penalties.

    Helping You Plan For Your Family’s Future In The Most Loving Way Possible

    It’s a heartwarming prospect to be able to help shape a brighter future for the younger generation. By understanding the new FAFSA rule and strategically utilizing 529 plans, you can contribute meaningfully to your grandchild’s education without compromising financial aid opportunities. This makes a 529 account an even better investment tool that not only helps your grandchild afford their education but leaves behind a legacy of love and wisdom.

    At our firm, we believe this is what estate planning is all about – your Life & Legacy. That’s why we refer to estate planning as Life & Legacy Planning. It isn’t just about making a plan for what happens to your assets when you die – it’s about making meaningful, heart-centered decisions that provide peace, love, and guidance to the ones you love today and for years to come in the future.

    If you’re ready to create a plan that takes care of everything you own and everyone you love in the most loving way possible, give us a call to learn what a Life & Legacy Planning Session can do for 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 Life & Legacy 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 Life and Legacy Planning Session and mention this article to find out how to get this $750 session at no charge.

  • Your Most Important New Year’s Resolution: A Kids Protection Plan

    Your Most Important New Year’s Resolution: A Kids Protection Plan

    As we welcome the New Year, filled with hope and resolutions for a brighter future, if you have minor children or grandchildren, put this commitment at the top of your list– a Kids Protection Plan. 

    Even if you’ve already named legal guardians for your children (or your siblings have done it for their kids, or your kids have done it for your grandchildren), most people…even lawyers!…make 1 of 6 common mistakes when naming legal guardians. And if you (or your siblings or your children) haven’t named legal guardians for minors you care about, make it your New Year’s resolution to take care of the littles in your life before the end of this month.

    It can be hard to think about a future where you couldn’t be there for the people you care about the most, but having a plan in place will ensure the little ones you love stay in the care of the people they know and trust in the event you become incapacitated or die. If you don’t take action, the decisions about their care could be left up to chance, or to whichever judge is overseeing the family court at the time something happens. 

    This isn’t just some task to add to your to-do list. It’s a warm embrace of security for the littles you love. So why is this the ultimate resolution for you in 2024? Keep reading to find out.

    Unforeseen Circumstances Can Leave Your Kids In the Care of Strangers (or Worse)

    What could be worse than your kids being left in the care of strangers if something happens to you? Your kids being left in the care of that one person you know you’d never want making decisions about their education, healthcare, or financial life. If you don’t have a person like that in your life, lucky you!

    And you still want to choose who makes the most important decisions for your kids if you can’t, right? 

    Imagine your kids at home with a babysitter and you don’t make it home. Your babysitter waits and frets, but doesn’t know what to do.

    S/he has no choice but to call the authorities because you didn’t leave any instructions otherwise. The authorities arrive and they have no choice but to take your kids into the care of strangers, even if you’ve already named legal guardians in your will.

    They probably don’t know where your will is located. If they can find it quickly, they may not know how to get in touch with the people you’ve named. Or the people you’ve named all live hours or even days away.

    Finally, because your will must go through the court process to be operative, the authorities can put your kids in the care of people who may be strangers to your kids – or even someone you wouldn’t want – while they wait for the court process to play out.

    We do have a solution! It’s called a Kids Protection Plan, and it will solve each of these problems plus ensure your children are never in the care of anyone you wouldn’t want.  

    A Kids Protection Plan Lets You Pick Who Cares for Your Kids – Not a Judge

    Is there someone in your life whom you unequivocally would never want raising your kids? Even if you’ve already named permanent legal guardians for them, it’s still up to a judge to make the official determination of who should raise your children long-term. If this person is an immediate family member, the judge may choose them as your kids’ permanent legal guardian if they come forward as a candidate, despite what your permanent guardian nomination paperwork says. Crazy, I know! But it’s how the system works.

    A comprehensive Kids Protection Plan confidentially excludes anyone you would never want raising your kids and we’ve figured out how to create it in a way that makes it highly unlikely that anyone you would never want to take custody or care of your kids would even try. With this confidential document, you can ensure your children are always kept out of the care of anyone you would never want to make decisions for them. 

    You Have Unique Desires for Your Kids’ Education, Healthcare, and Financial Well-Being

    You spend an inordinate amount of time planning your kids’ activities, their care, and their birthday parties. You almost certainly have distinct desires regarding their education, healthcare, and financial well-being. A Kids Protection Plan allows you to articulate these wishes in a way that provides your kids’ legal guardians with guidance and your children with the comfort of their routine. 

    Plus, providing clear instructions to potential guardians ensures your children’s upbringing aligns with your values and aspirations. This process not only secures their future but also provides you with clarity about your parenting priorities.

    Comprehensive Protection for the Ones You Love Most

    While nominating permanent legal guardians is fundamental, it might not suffice in every situation. A full-fledged Kids Protection Plan offers a holistic approach, addressing the potential pitfalls of leaving your kids with caregivers, excluding unwanted individuals from guardianship, and outlining your unique desires for their well-being. This comprehensive plan ensures that your children remain in the care of trusted individuals who understand and respect your values.

    If you’re ready to make creating a Kids Protection Plan your most significant New Year’s resolution, the first step is to schedule your Life & Legacy Planning Session. During the session, we’ll guide you through our unique, heart-centered process to tailor a plan that reflects your wishes, secures your family’s future, and includes a Kids Protection Plan. 

    Unlike other resolutions that may be hard to stick to, we’re here to guide and support you through every step to ensure your Kids Protection Plan offers the best protection for the people you love – both now and for years to come.

    Schedule a complimentary call to learn more about our process and schedule your own Life & Legacy Planning Session. 

    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 Life & Legacy 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 Life and Legacy Planning Session and mention this article to find out how to get this $750 session at no charge.

  • The Scary Truth: Naming Godparents Does Not Create Legal Guardians

    The Scary Truth: Naming Godparents Does Not Create Legal Guardians

    As a parent, your top priority is the well-being and future of your children. You plan for their education, health, and happiness, and often this planning includes the tradition of choosing godparents to guide and mentor your children if something happens to you.

    While selecting godparents is a meaningful tradition in many cultures, it’s important to understand that naming a godparent is not the same thing as naming a legal guardian for your children.

    To put it bluntly, even if you have named godparents, if something happens to you, your children could end up in the care of strangers, child protective services, or in the long-term care of someone you would never want raising your children.

    In this blog, we’ll explain the roles of a godparent and legal guardian and how to ensure your kids are always cared for by the people you choose – no matter what.

    Godparents 

    A godparent is traditionally someone you name to watch over your child and help them live according to your morals and values. Godparents are meant to be mentors and role models, guiding your child in matters of faith, morality, and character. The role of a godparent is deeply rooted in religious and cultural traditions, and they often participate in religious ceremonies such as baptisms or confirmations.

    Whether your family is religious or not, godparents may also play a supportive role in your child’s life by offering emotional support, advice, and friendship. They can be someone your child can turn to for guidance and a listening ear, but their responsibilities are largely informal and non-legal.

    Legal Guardians

    In contrast, naming a legal guardian for your child is a formal, legal process. A legal guardian is someone who has the legal authority to make decisions on behalf of your child, especially if you, as the parent, are unable to do so. This could occur due to your passing, incapacity, or any situation in which you cannot provide care or make important legal, financial, healthcare, or education decisions for your child.

    The responsibilities of a legal guardian encompass every area of your child’s life that you would normally manage as a parent. This includes everything from feeding and clothing your child to deciding where they go to school, attending parent-teacher meetings, and which extracurricular activities they participate in. Legal guardianship also includes the decisions about where your child lives and what medical treatment they should or should not receive.

    A legal guardian may also help manage your child’s financial assets and resources, ensuring their financial well-being. In some cases, if you’ve planned ahead, you may choose to have a different person act as a financial trustee of the assets you leave for your child, and your chosen trustee will work alongside the legal guardian to ensure your child is financially supported. In some cases, your guardian and trustee may be the same person. This is a decision we can help you make during a Life & Legacy Planning Session, based on the specifics of your family dynamics.

    Why Naming Godparents Isn’t Enough

    While godparents may be deeply caring and involved in your child’s life, they have no legal authority to make decisions for your child unless they’re officially appointed as a legal guardian by the court. That means that until that happens, (if it happens) your child’s godparents aren’t legally able to make any decisions for your children, including their basic care needs, education, and medical care. 

    If you become incapacitated or die, and haven’t legally nominated a guardian (and, ideally, more than one, which is one of the 6 common mistakes families and even lawyers make when naming guardians), there could be a complex and expensive custody dispute among your family members. Grandparents, aunts, and uncles may assume you would want your children to live under their care rather than the people you named as godparents. This is especially likely if the people you’ve named as godparents aren’t related to you by blood or marriage. 

    Without a legal guardian designation in writing and signed with the formalities of a will, godparents may find themselves in an expensive court battle over custody rights, and they may not even be named as the legal guardians of your children at all. In fact, the court could name someone you would never want raising your kids as their legal guardian.

    Life-long Legal Protection for Kids

    While godparents hold a significant place in your child’s life as mentors and role models, they don’t possess the legal authority to make critical decisions for your child or provide for your child’s physical and financial well-being on their own. 

    Instead, consider combining the roles of godparents and legal guardians into one. If you’ve already chosen people you trust to serve as lifelong role models and spiritual guardians for your children as their godparents, why not give those people the legal authority to truly perform those duties if something happens to you?

    If you aren’t sure who the best guardian or godparent is for your children, we can help. We’ll walk you through a heart-centered process for choosing guardians who genuinely care for your child’s well-being and share your values. Plus, we’ll ensure they have the financial and legal tools needed to give your child the best life possible if you can’t be there.

    The best way to keep your children safe and secure is to create a comprehensive Kids Protection Plan that keeps your children in the care of the people you choose in any situation, out of the care of anyone you wouldn’t want, ensures your children can receive prompt medical care, and that the authorities know who to contact in an emergency so your children are never placed in protective custody – even for a minute.

    To learn more and get started today, schedule a complimentary call with my office.

    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 Life & Legacy 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 Life and Legacy Planning Session and mention this article to find out how to get this $750 session at no charge.

  • Got Minor Kids? 3 Instances When Your Estate Plan Must Include a Kids Protection Plan

    Got Minor Kids? 3 Instances When Your Estate Plan Must Include a Kids Protection Plan

    As a parent, you’ve probably thought about the importance of naming permanent legal guardians for your child in case something happens to you, and maybe you’ve already done it. If you haven’t yet, take this as the sign that now’s the time to do it, in case the unthinkable happens to you.

    But in some cases, naming permanent legal guardians for your child may not be enough to guarantee your kids will always be cared for in the way you want by the people you want. And there may even be a risk of your kids being taken into the care of strangers or someone you would never want.

    Read on to find out if that’s the case for your family, and if it is, contact us ASAP to get your Kids Protection Plan in place. 

    You Leave Your Kids With Non-Related Caregivers 

    If you ever leave your minor kids with a caregiver who isn’t a grandparent, aunt, or other family member that the authorities would naturally leave your kids with if something happens to you, this is what could happen.

    Your kids are home with the babysitter. You don’t make it home, and the authorities are called. The authorities show up at your house, and what would they do?

    Would they leave your children at home with the person taking care of them while they attempt to find your will or legal guardian nomination? Would they even be able to find your legal documents? Would your legal documents name someone who would be immediately available to come to stay with your children, and would the authorities leave your children with those people without a court order?

    If not, you need a Kids Protection Plan to fill in the gap. 

    Permanent guardian nominations only take effect upon your passing and are made official through the court system. This means that they don’t give any legal authority to your chosen guardians in an emergency or if you become incapacitated. 

    Because of this, law enforcement could place your child into protective custody with social services in the event of your sudden absence or incapacity due to an illness or injury. To minimize the chances that would happen, we can name legal guardians for the short-term, and give those named guardians the legal documentation they would need and instructions on what to do immediately if something happens to you. 

    In addition, we will give you the tools to ensure that anyone staying with your children while you aren’t there knows exactly what to do if something happens to you. 

    You Have Someone In Your Life You Would NEVER Want Raising Your Kids 

    While this may not apply to you, if it does, you absolutely, 100%, without question need to contact us for a Kids Protection Plan STAT. If you have anyone in your life you would never want raising your kids if you aren’t able to due to illness or injury, we can ensure that person is confidentially excluded from your plan using a Kids Protection Plan. We can structure it so that this confidential document is only brought forward if necessary to keep your children out of the care of the person you would never want to raise them.

    You Have Unique Desires For Your Kids’ Education, Health Care, or Financial Well-Being

    You’ve probably given a lot of thought to how you want to educate your children, the kinds of healthcare decisions you make for them, and how you want them to experience reality from a financial perspective. If that’s the case, then you absolutely want to ensure that anyone raising your children will know how you would have wanted these decisions to be made. 

    Otherwise, if you don’t take the time to leave instructions to the people who could raise your children, they won’t know how you would make decisions if you cannot be there to communicate your hopes, dreams, wishes, and desires.

    Here’s the great thing about this. There’s a 99% chance that you’re not going to become incapacitated or die while your children are minors (phew), and yet taking the time to write down your unique desires for their well-being and care is an illuminating process in and of itself that will make you a better parent right now.

    We hear it again and again from our clients that when they create their Kids Protection Plan with us, they immediately feel a great deal of relief and a belief that they’re being the best parents they can possibly be. They have more clarity about what’s really important to them, what they want to emphasize, who they want their children to develop relationships with, and where they can better focus their own time, energy, and attention.

    If you aren’t sure where to start when creating these instructions, don’t worry. We will support you with the whole process when we create your Kids Protection Plan. 

    Comprehensive Protection for The Ones You Love Most

    Nominating permanent legal guardians is an essential piece of your estate plan, but in reality, it often isn’t enough to ensure your child remains in the care of people you choose, know, love, and trust if something happens to you. If your children are ever left with a relative, or if there is anyone in your life you wouldn’t want raising your kids, or if you have unique high-value wishes for the way your children are raised when it comes to their education, health, or financial well-being, you need a full-fledged Kids Protection Plan. 

    If you’re ready to create a Kids Protection Plan for your child, the first step is to schedule your Life & Legacy Planning Session. During the session, I’ll look at everything you own and everyone you love to get to know your family and your wishes on a personal level. Then I’ll explain how the law would affect your family if something happened to you today, and together, we’ll design a plan that will protect your assets and your loved ones, no matter what.

    To get started, schedule a complimentary 15-minute call. We can’t wait to protect your children and your entire family through comprehensive planning.

    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 Life & Legacy 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 Life and Legacy Planning Session and mention this article to find out how to get this $750 session at no charge.

  • Don’t Send Your Kids Back to School Without These Documents

    Don’t Send Your Kids Back to School Without These Documents

    As summer comes to a close and back-to-school excitement fills the air, there’s one crucial task that’s often overlooked: designating legal guardians for your minor children. Legal guardians are the individuals you entrust with the care of your children if, for any reason, you’re unable to do so yourself. 

    In the hustle of back-to-school shopping and end-of-season summer fun, it might seem like naming legal guardians for your kids is a low priority, but nothing could be farther from the truth. 

    As kids return to school, they’ll spend most of their day in the care of other people – their teachers, coaches, and babysitters. That means that your children will spend most of their time with people who don’t have any legal authority to take care of them for more than a brief time in the event you’re in an accident or can’t be reached for any reason. 

    And, if your kids are going off to college, you’ll no longer be able to make decisions for them or have access to their medical records in an emergency unless your adult kids create powers of attorney and health care directives.

    Don’t Rely on Informal Agreements

    They say it takes a village to raise a child, and as parents, you usually have a network of friends or family you feel you can rely on to step in and care for your child if needed. But it’s essential not to rely solely on informal arrangements with relatives or friends to care for your kids if you can’t. 

    Whether you’re unconscious in the hospital or have passed away, there’s a chance your child could be taken into protective custody by social services until you recover or until a permanent arrangement can be made. 

    But here’s the thing, the person who ends up taking your child may not be someone your child knows or loves, but a complete stranger in the foster care system. Or, maybe even worse, that person could be someone you never want to raise your kids but who is appointed anyway by a well-meaning court system that doesn’t know what you would want or how you would want your children to be raised.

    In addition, if you don’t name legal guardians for your kids, you risk creating conflict among family members who want to care for your children and may subject your loved ones to a lengthy and costly court process—an unnecessary burden that can easily be avoided. In fact, not naming more than one guardian is one of the most common mistakes people make when choosing a guardian for their kids.

    You know your child and your family better than anyone else, and you know who would be the best fit for raising your child if something happened to you. But unfortunately, unless you document your choice of guardian in advance, the decision of who would raise your child if you can’t is ultimately left to a judge who doesn’t know you or your family dynamics.

    Instead, naming short-term and long-term guardians for your kids ensures they’re always cared for by people you know and trust. 

    And, if your kids are off at college, you cannot rely on the fact that you know they’d want you to have access to their medical records and financial accounts if something happened to them. The hospital or banks need official legal documents for you to get access if needed. That’s why we provide all of our client families with young adult planning documents for kids away at college.

    Comprehensive Protection for Your Child

    To make sure your kids are always protected and cared for by people you trust, it’s essential to create a comprehensive Kids Protection Plan. Every Kids Protection Plan enables you to name short-term temporary guardians who have immediate authority to care for your children in an emergency and long-term permanent guardians who can raise your children if you’re no longer able.  

    My Kids Protection Plan also equips you with emergency ID cards that contain instructions for first responders to contact your child’s guardian if you’re in an accident so they can travel to be with your child right away. Plus, all caregivers, like babysitters and nannies, are provided with precise instructions on how to reach your short and long-term guardians, and that everyone involved in your plan has the necessary legal documents on hand to ensure a smooth process if the need for a guardian arises. 

    In this way, not only have you legally named guardians for your kids, but you’ve created an entire safety plan to ensure they’re always cared for in the way you’d want in any situation.

    And for your college-bound kids, it means having young adult planning documents in place like powers of attorney and health care directives that allow you to access your kids’ accounts or make medical decisions for them if they become incapacitated by an illness or injury. 

    A Thoughtful Approach for Your Peace of Mind

    We’re dedicated to securing the well-being of your children under all circumstances. As the back-to-school season approaches, don’t overlook this essential homework for parents – naming legal guardians and creating your own Kids Protection Plan. 

    The first step is to go through our unique planning process to choose the right plan for you, your kids, and everyone you love. We begin with a Family Wealth Planning Session. During the session, I get to know your family on a personal level to understand your family dynamics and your assets. I’ll share the law with you, and together we’ll look at exactly what would happen to your assets and your loved ones if something happened to you right now.

    From there, we choose the right plan for you – at the right budget and that achieves your personal objectives – based on the specifics of your family situation. This ensures your kids and family are cared for and protected no matter what happens, so you can embrace the excitement of this new academic year with peace of mind.

    To learn more and get started with your own Family Wealth Planning Session, get in touch with me at (650) 600-1735. I can’t wait to serve 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.

  • Vacation Ready: Essential Legal Preparations for a Worry-Free Getaway

    Vacation Ready: Essential Legal Preparations for a Worry-Free Getaway

    Vacations are a time to relax, unwind, and create beautiful memories with your loved ones. But before you set off on your adventure, it’s essential to ensure that your legal affairs are in order so you can fully relax during your travels. 

    Can’t imagine doing one more thing before you take some much-needed time away? 

    Don’t worry! I’m here to guide you through these important tasks so you can enjoy your vacation worry-free. Plus, these steps only take a little time to complete and can provide you with peace of mind knowing that you have made proper arrangements if the unexpected happens to you or your family while you’re away.

    Let’s dive in! (No pool puns intended!)

    1.     Create Powers of Attorney

    Whether you’re traveling overseas or just a few hours away, it’s crucial to have powers of attorney in place for both health care and financial matters before you leave. 

    A healthcare power of attorney designates someone you trust to make medical decisions on your behalf if you become incapacitated during your vacation. While no one plans to become incapacitated, a slip on the diving board, an injury while boating, or a parasite caught from local cuisine can happen.

    Similarly, a financial power of attorney empowers a trusted individual to manage your financial affairs for you. With a financial power of attorney, you can give someone the authority to manage your investments or pay your bills away while you’re gone, or just have it as a safety net in case you become incapacitated or can’t be reached while traveling. 

    By having these documents prepared ahead of time, you can ensure that no matter what hiccups you run into on your travels, your wishes for your health will be respected and your financial affairs will be handled according to your instructions, even when you’re away.

    2.    Nominate Permanent Legal Guardians for Your Kids

    As a parent, naming a permanent guardian for your children is one of the most important decisions you can make. While it’s a difficult topic to consider, designating a permanent legal guardian ensures that your children will be cared for by someone you trust if the unexpected happens while you’re on vacation. 

    It’s a good idea to take a little time to choose someone who shares your values, loves your children, and is willing to take on the responsibility of raising them. However, anyone you trust to raise your kids is a better choice than leaving the decision up to a judge who doesn’t know you or your family. 

    By documenting your chosen guardian, you make sure your children will be cared for by someone who loves them and knows them if the unthinkable happens to you, and you can always update your choice at any time in the future as your children and their relationships change over time.

    3.    Designate Short-Term Guardians for Your Kids

    In addition to naming a permanent guardian, it’s equally crucial to designate short-term legal guardians for your children. Short-term guardians step in when the permanent guardian lives far away, or in case of a short-term, immediate emergency. 

    You can give multiple people the authority to be your child’s short-term guardian, including relatives, neighbors, or nannies. When planning a vacation, it’s a good idea to name any adults who your child will be staying with while traveling with you or staying home.  

    For example, if your child is spending the week at their grandparents’ house, you should name their grandparents as short-term guardians and give them medical power of attorney for your minor child. If your child is traveling with you, naming any adult travel companions as short-term guardians and giving them medical powers of attorney is a wise choice in case a guardian or medical POA is needed for your child while on your trip.

    Discuss this arrangement with the individuals you’ve chosen and make sure they’re aware of their roles and responsibilities. By establishing short-term guardians and medical POAs, you can ensure that your children are well-cared for in the event of an emergency.

    4.    Tell the People You Trust About Your Plans

    Last but not least, make sure that the people you trust know about your travel plans and the preparations you’ve made, including where you’ll be staying and how to get in contact with you. 

    Let them know about any legal documents you’ve put in place, and how to access them if needed. Share this information with your chosen guardians, family members, and close friends. By keeping everyone in the loop, you can ensure that your wishes are known and your loved ones can act swiftly and effectively in case of an emergency. 

    You should also provide your loved ones with my contact information in case they need copies of your powers of attorney or kids’ guardianship documents or need them delivered digitally.

    Estate Planning for The Life (And Vacation) You Deserve

    As you pack your bags and prepare for your vacation, don’t overlook the importance of handling your legal affairs. Taking the time to create powers of attorney, permanent and short-term legal guardians for your children, and communicating your plans to trusted individuals can provide you with peace of mind and save your family incredible stress if there’s an emergency while you’re away.

    To ensure that these documents are prepared correctly and in accordance with your state’s laws, I encourage you to contact me at (650) 600-1735. I start by guiding all of my clients through a unique process I call the Family Wealth Planning Session. During the session, I get to know you and your family on a personal level and review exactly what you own and who you love to make sure everything and everyone is protected and cared for in the best way possible when you pass away or if you become incapacitated. 

    If we find that things wouldn’t go the way you wanted if something happened to you, I can help you create a custom estate plan that leaves no rock unturned.

    Don’t let the joy of vacation be overshadowed by the “what if’s.” Contact me today at (650) 600-1735 for a free 15-minute call to learn more. 

    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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