Q. I have been a widower for six years and recently found love again. I asked her to marry me and she accepted. This is new to me, as I had been with my late wife for forty years and then on my own again until recently. What are some things that you would suggest […]
Problems with Beneficiary Designations Part 3 — Usually They Take Precedence Over Your Estate Planning Documents, But Sometimes They Don’t
Note: This article is Part 3 in a series on the Problems with Beneficiary Designations. Links for the prior two articles are below and at the bottom of this article. Please click here to read Part 1 and please click here to read Part 2. Q. My friend, who is going through a divorce, is […]
Caring for the Pet of a Loved One When They Can No Longer Do So Themselves
When Melissa’s father died and her mother moved into a nursing home, Melissa adopted her parent’s poodle, Margot. During the three-hour drive to her house from where her mother was staying, Margot was shaking and afraid. Melissa stopped at the pet shop and bought Margot some of her favorite chewable steak bites and a toy, […]
How Can Patient Advocates Help on Your Health Care Journey?
Q. I recently came across a Next Avenue article where a 72-year-old woman was told she had a benign brain tumor and needed surgery. The surgery was supposed to be simple, and the family was told she’d recover quickly, but things did not go as expected. Once a healthy, active woman, the patient suffered from […]
Are Transfer on Death Deeds a Good Alternative to Estate Planning?
Q. I was recently discussing with my husband what would happen to our house in Annandale, Virginia when we are no longer around, especially since we don’t have our estate planning in place yet. One my friends’ parents recently passed away and the family was going through the nightmare of probate. I would never want […]
How Are Taxes Filed if One Spouse is on Medicaid and the Other Spouse Has an Irrevocable Trust? And Does Getting Social Security Change How Taxes Get Filed?
Q. Thank you again for working with our family last year to protect our parents’ assets, get our father approved for nursing home Medicaid, and set up an irrevocable Living Trust Plus for our mother. Now that it’s tax time, we have numerous questions. I’m helping my mother this year for the first time given […]
Jay Leno Files for Conservatorship Over His Wife’s Estate
TV icon Jay Leno and his wife, Mavis Leno, have been married for 43 years — and by all accounts they are still in love. Mavis, 77, suffers from dementia, and according to a recent court filing, she has been “progressively losing capacity and orientation to space and time for several years.” This is why […]
Does the Corporate Transparency Act Apply to Trusts?
Q. My wife and I recently acquired a rental property and are considering forming an LLC this year and exploring any other options, such as trusts. I heard that the Corporate Transparency Act went into effect on the first of the year and that there is required reporting of private beneficial ownership information. However, I’d […]
Does My Spouse Have a Right to a Share of My Home?
Q1. I am giving serious thought to my estate planning and to who I want to leave most of my assets to when I am no longer around. I am seriously considering leaving the bulk to my two children and not my spouse. I live in Virginia. Would this be possible or is my wife […]
Ten Advantages of Being Older that We Can Be Thankful for This Thanksgiving
It’s Thanksgiving week, a perfect time for reflection and gratitude for all that has happened this year. As most of us are aware, the process of aging can present its fair set of challenges, but it’s also important to realize that the positive aspects of aging often drastically outweigh the negatives. Below are some of […]
Top Five Reasons Banks Won’t Accept a Power of Attorney and What You Can Do About It
Q. My aunt signed a Power of Attorney naming her son, my cousin Andy, as her POA. When Andy took it to the bank, he was told that the document had to be on the bank’s form to be valid. This happened in Texas, but I’m concerned that the same thing could happen anywhere. What […]
Three Things Most People Get Wrong About Estate Planning
Q. I just saw that it’s Estate Planning Awareness Month! We had our estate planning documents done through your firm a couple years ago. I’m trying to convince my sister and parents to do the same, but they have some objections, claiming that estate planning is daunting, expensive, and only for older, richer people. How […]
Will My Estate Plan Be Followed as Intended?
Q. I’m working on my estate planning documents and am putting lots of thought into them, especially what I want done with my ancestral home and my ancestral art collection. I have some very old and rare original artwork passed down from my ancestors that are quite valuable. I want to make sure they are […]
Why Are People So Afraid of Estate Planning?
Q. I read your recent article on Aretha Franklin’s multiple handwritten wills and the family strife that ensued for five years after she died. The situation provided a great example for why all of us should have properly written estate planning documents in place and how this is something that should never be DIY! As […]
Aretha Franklin’s Sons Clash in Court Over Handwritten Wills
Aretha Franklin, the “Queen of Soul,” died five years ago, in 2018, at age 76 from pancreatic cancer. Through her six-decade career in the music business, she left behind a legacy that included over 75 million record sales, 17 Top 10 hits, and 112 charted Billboard singles! Sadly, after five years, Franklin’s legacy and $80 […]
How Does Estate Planning Work for Multigenerational Living Arrangements?
Q. To save money, my parents, my husband and I, and our daughter and her family all live under one roof in a much bigger home than any of us could afford alone in Northern Virginia. With this living arrangement, I can care for my mother, who is in the early stages of dementia, and […]
Wedding Planners Are Common. Where Are All the Funeral Planners?
Q. My daughter is getting married in the fall, but she isn’t much of a planner and would much rather just attend her big day and have it all planned for her. I am the same way, and to be honest, the details stress me out. To our relief, my mother, who loves to plan […]
Procrastination and Estate Planning: How to Avoid These Disaster Scenarios
Q. My husband keeps procrastinating when it comes to wanting to do our estate planning. I brought up some things that could happen when someone dies without proper planning in place, but it hasn’t been enough to convince him. Can you share some truly eye-opening disaster scenarios to help me persuade him to get started? […]
Are Large Inheritances Damaging to the Next Generation? Some Celebrities Think So
Some high net worth individuals, including some celebrities, are increasingly worried about how much of their fortunes, if any, to give to their kids. A couple years ago, CNN host Anderson Cooper announced that his son, Wyatt, would not receive an inheritance. According to Cooper, “I don’t believe in passing on huge amounts of money.” […]
My Mom Had a Will, But It Was Useless
Q. I always had a good relationship with my mother. We would have lots of open conversations and talk about almost everything! If she ever got sick or traveled overseas, she would remind me that she had a will, and I of course believed her and I assumed it was enough and that we were […]
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