Accounting today listed as the 10 Biggest Estate Planning Mistakes the following: 1. Procrastination. Failing to do any Estate Planning thinking there is always “tomorrow.” Maybe not! 2. Do it yourself mentality. Thinking you can perform complicated legal work with online forms which doom you to failure. 3. Failing to think of all the angles... [Read More]
Category: Health Care
Boston Bombers and the Unknown
Those injured at the finish line of The Boston Marathon last week never anticipated that two bombs would explode killing three and injuring and maiming another 200 people. A physician from Sylva, North Carolina, just west of Asheville, was at the finish line with his wife cheering on a friend. After the explosions, the first... [Read More]
The Cuban Missile Crisis and North Korea
We were closer to the nuclear war in the 1960’s than we ever imagined. My Dad was a very good business man, well traveled, a great story teller and one who got others to share their stories. One of the stories my Father had told to him was received from a group of gentlemen after... [Read More]
North Korea, Kidnapping and Estate Planning
As North Korea declares a state of war on the United States and South Korea, and a leading news story shows by security camera a couple being kidnapped in broad daylight in Manhattan Sunday, we think about the “Worse Case Scenario”. We want to make sure that we have planned in advance in case we... [Read More]
What about heirlooms?
What about heirlooms? You can make specific provisions for family heirlooms and specialty items in your Estate Plan. Many times the family heirlooms or special personal items are considered the most important or emotionally valuable part of any Estate. In other words, your Grandfather’s watch that he wore every day may be more important to... [Read More]
Estate Planning is not really about taxes.
Estate Planning is really about the family and not about taxes. When I have asked my clients what their primary concerns are, their first answer is they want to protect themselves in the event of physical and mental disability and protect the surviving spouse in the event of physical or mental disability and in the... [Read More]
President Trying to Raise Taxes Again
I told you so! Most thought that the tax raises that went into effect in the American Taxpayer Relief Act of 2012 would be the end of the raised taxes. The Republicans agreed to raise taxes without receiving any concessions in spending from the White House in negotiating over the American Taxpayer Relief Act of... [Read More]
You Have to Prepare for Storms
In the same way that you have to prepare for physical storms of life, such as hurricanes, high winds, and snow storms, you have to be prepared for the other storms in life. Those storms can include stroke, dementia, heart attack, mental disability, your children’s divorce, car wreck law suits, and law suits by tenants... [Read More]
Use Written End of Life Directives
We are all going to pass on. Even Lazarus, who Jesus called out of the tomb, eventually passed on again and is not here among us. A Living Will gives your consent to removal of life support (often a ventilator) if you are terminally and incurably ill and death is imminent, or if you are... [Read More]
Plan for Mental Disability
You are six times more likely to become mentally disabled in a year than to pass on. Estate Planning is about planning for as many contingencies as possible. Mental decline, dementia, Alzheimer’s, or some other version of mental decline seems to be growing as we age. In a Revocable Living Trust a/k/a Living Trust, you... [Read More]