Smart Way #3

Create a family estate plan that, upon your death, distributes your assets to your heirs without going through the Court-supervised process called probate.

Most often a Revocable Living Trust is used for this purpose.

Please don’t delay: You never know when something might happen to a member of your family that could result in probate or other court proceedings.

Please let us work with you now to design your asset protection and estate plan because we’d like to help you avoid probate so you don’t become a burden to your children.

Call us today at (479) 717-6300.

Add a friend: If you know someone who would like to receive our educational material, please give us the person’s name and address and we’ll add them to our database.

Questions? If you have questions, or if you’d like to discuss your family’s estate plan, please call our office at (479) 717-6300. We’ll be delighted to hear from you!

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#1 Reason People Don’t Estate Plan

Money.  Nope. #10

Time. Nope.  #3

The #1 reason people don’t plan is denial.

Denial

According to At Home Nursing Care, denial is the #1 reason people don’t plan.

I can’t say it better myself:

Denial came up as #1 to avoid estate planning.   Few younger people want to face the idea that they could be here one day, gone tomorrow, whether due to accident or illness.  Older individuals tend to be better prepared, but that doesn’t mean they’re willing to talk about their end of life wishes, such as how much medical intervention they desire and when to access in-home care or assisted living options.

Just What is Denial?

According to the Mayo Clinic, denial is a coping mechanism that can be harmful.

But denial has a dark side. Being in denial for too long can prevent you from dealing with issues that require action, such as a health crisis or a financial situation.

Overcoming Denial

Denial is hard to overcome and takes time.

The same article recommends these action items to overcome denial:

• Honestly examine what you fear.
• Think about the potential negative consequences of not taking action.
• Allow yourself to express your fears and emotions.
• Try to identify irrational beliefs about your situation.
• Journal about your experience.
• Open up to a trusted friend or loved one.

5 Steps to Overcome Denial

Care2 offers these helpful tips:

1. Even without acting, accept it. This includes acknowledging the issue or potential issue and also accepting that you feel unable to face it. If you are scared, accept that. If you are hurt, accept that. If you have absolutely no idea of how you are going to fix it, accept that. All you need to do is look at the situation, acknowledge what’s happening and acknowledge how you feel. That’s it.
2. When you are in denial, it’s easy to isolate yourself or to want to save other people from the burden of dealing with your issues (after all, it’s much more manageable when you have others to assist you). Sometimes even just sharing your problem with other people can help. Admitting that you don’t know what you are doing or what you will do can help you to feel like less of an imposter. Instead of using that energy to fake being okay (which is absolutely exhausting), you can use that energy to tackle your problems.
3. You need all the energy you can get to deal with your situation and the negative thoughts will only block you from being able to think of and execute solutions. Even if you are completely at fault for your situation, still treat yourself with decency and respect. Stay away from negative self-talk, even if it seems deserved.
4. At some point you definitely need to deal with how you got yourself into this situation, but what’s more pressing and important right now is how to get out of it as best you can. Think about how you can make things better instead of worse. Think about the ways in which you can be a person that you respect in dealing with your problem. Also consider the consequences and effects that your solution will have.
5. It may take a long time before you feel better about your situation or get it resolved. In some cases, you may not even be able to fix it completely, but focus on improvement instead of perfection.

Think About Now

Don’t think about estate planning as then, but now.  Concentrate on your values and remember you are expressing love and value for your family.  Planning doesn’t change who you are.

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Overwhelmed?

An ounce of planning today saves a pound of headaches later

Prepare today to save your family the need to make overwhelming decisions.  Don’t make them guess what choices you want made.  Tell them now.
Without telling them today what you want, it can mean many months or even years of lawyers, judges, and hearings to settle up your last wishes and give away your property.  A frustrating process to say the least.  Made more frustrating because the State has rules in place for how everything is to be given away.

Burden

During your lifetime, it means that you will be a burden on you children.  They may even fight with each other over the decisions you would make.

Frustrating

You try to learn what you need to create a plan to protect you and your family, but you are overwhelmed and frustrated with the amount of information and conflicting advice.
And why wouldn’t you be?
Here’s what happens:
You research planning on the internet and there is so much information on the Web you can’t take it all in.  You try to read the articles, but they are full of frustrating legal terms and don’t really teach you much.  You just get more frustrated.

Conflicting Advice

Friends, family, and the Web are full of conflicting advice.  Because of the conflicting advice, you can’t decide what to do.  And, you feel helpless and confused because of the information overload.  This just makes you more uptight about the future of your family.
You call a lawyer’s office and they talk to you in “legalese” and you have to try to figure out what they were talking about.  Or, they say, come in for an appointment, but want you to pay for the initial consultation or commit right then and there.
All of this confusion leads to anxiety.  Anxiety because you don’t know what the future holds for your family.
Are you going to keep living without a plan?  Living with frustration and anxiety?
Let me help.  Let my experience and education guide you quickly and easily through creating a plan just for you and your family that protects you and your family during your lifetime and beyond.
Click here to set aside 15 to 30 minutes to chat, no obligations.  
Get your plan done quickly and easily so you can feel empowered instead of frustrated and overwhelmed.
Know that you and your family are protected and stop feeling overwhelmed.
Regards,

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19 Smart Ways to Protect Your Assets – #1

Smart Way #1: Make a promise to yourself — now. 

Make a personal commitment to yourself and your family that you will do everything possible to protect your family and your assets.

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Losing Control

One of the biggest fears people have is that of losing control through no fault of their own.  By accident or incident.

Losing control of your financial, legal, and healthcare decisions.

But, you can keep control of you life and decisions, even if…

When you don’t have a plan, and need somebody to make those decisions for you, your family ends up in court.  Somebody will have to be appointed by a Judge to make those decisions.  Then that person ends up going back to court to get permission to do many things.  You life becomes part of the public record.

Now, you have lost control to the Judge and the State’s laws.

And, your “guardian” will have to file annual reports on how you are doing, how your money was spent, and more.  That report becomes part of the public record.  And, the fees of the attorney to draft the report properly.

It’s a frustrating process that has to be repeated over and over again.  Not to mention the waiting for a court date (and the costs)…

Do you want that?

Do you want the frustration that comes with that process?

No!

Do you want to keep control?

Let me help.  Let my experience and education guide you quickly and easily through creating a plan just for you and your family that will stop the frustration.  A plan that keeps you in control of your own fate.

Click here to set aside 15 to 30 minutes to chat, no obligations.

Make sure your family knows what to do in case of accident or illness.

It’s quicker and easier than you think to setup a fully funded plan that takes care of you and your family for your lifetime and beyond.

 

Not to mention the financial toll that comes with no plan.  If you go by the numbers, without a plan, the costs may be $30,000 or more.  With a plan, you could save $17,000 (or more) for your care and your family’s inheritance.

Click here to set aside 15 to 30 minutes to chat, no obligations.

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The Enemy

Who is your mortal enemy?

It’s not a who, but a what. It’s time.

What is the deadline for estate planning? When will it be too late?

The truth is, we don’t know how much time each of us has!

How much planning have you done to beat the deadline?

Your enemy is time. Start working on your plan now!

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The Tragic Loss of Star Trek’s Anton Yelchin: Lessons for Estate and Legacy Planning

On Jun 19 2016, when successful actor Anton Yelchin (Chekov in the recent Star Trek movies) failed to show for rehearsal, his friends became worried and drove to his house. Sadly, they found Yelchin pinned between his security fence, brick mailbox, and Jeep Grand Cherokee.

Exited Vehicle

According to investigators, the 27-year-old star exited the vehicle before it allegedly rolled backwards down his steep driveway, pinning, and ultimately killing the Star Trek actor. Los Angeles County Coroner Assistant Chief Ed Winter stated the cause of death as “accidental blunt traumatic asphyxia.” Two days later, Fiat Chrysler released a statement informing the public of an investigation to determine whether a gear shift defect could have been to blame for the accident.

Recall

In June 2016, the manufacturer reported that this defect could be responsible for as many as 266 auto accidents. Back in April 2016, the manufacturer issued a recall for nearly 500,000 2014 and 2015 Grand Cherokees as well as other models due to an allegedly dangerous design error in the electronic shifters. Until Yelchin, no deaths had been linked to the issue.

Class Action Suit

Following Yelchin’s death, several Jeep owners took steps to file a class action lawsuit against Fiat Chrysler, alleging that the drivers suffered economic losses in the aftermath of the tragic accident. According to the lawsuit, plaintiffs claim that Fiat Chrysler knew about the shifting device’s possible defect for at least two years but hid this knowledge from the public, a decision that allegedly resulted in dozens of reported injuries and, possibly, Yelchin’s death.

Estate Planning Lessons: What Happens if You Pass Away Unprepared?

When you’re in your 20’s and 30’s and in good health, it’s easy to feel invincible and to justify deferring estate planning. Why worry about a long-term financial strategy and your “legacy” if you’re just getting a toehold in your industry?

Yelchin’s tragic situation highlights the fact that we are all – young and healthy, old and infirm alike – vulnerable to events outside our control. Establishing even a rudimentary plan is better than having nothing.

Details have yet to emerge about whether the actor had estate planning documents in place. However, actors who suddenly vault to success via high profile movie and TV roles as well as business owners who experience dramatic surges in income should reevaluate their plans frequently, especially during and after periods of major career growth and contraction.

Depending on the nature of your income surge, you might need focused, specialized planning to minimize tax consequences. Likewise, when your life or business goes through big inflection points, it can help to rethink your long term financial strategy just as a way to clean up the “open loops” in your life – to eliminate background distraction, so you can concentrate more on what’s important and what you love to do.

Failing to establish, amend, or revise a trust or will as your life changes can create needless risks. While no lawsuits appear to have been filed yet by Yelchin’s heirs, a properly drafted, up-to-date estate plan can make it easier for a family to hold those responsible for the death of a loved one accountable. In addition, the clarity created by such a plan helps keep family members concentrated on meaningful and important work, such as consoling children left behind and supporting one another emotionally, rather than potentially distracting legal issues.

While drafting a trust or a will does require skill and thoughtfulness, an experienced estate planning lawyer can take the emotional charge out of this process, simplify it greatly for you, and ensure an enduring legacy for the next generation. If you want to get started, we can help. Call us today for a consultation to obtain the clarity and peace of mind you need.

 

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Frustration

Your family will have to make overwhelming decisions, such as guessing what choices you would make or choosing an attorney, when anything happens during your lifetime or beyond.

After your lifetime, it can mean many months or even years of lawyers, judges, and hearings to settle up your last wishes and give away your property.  A frustrating process to say the least.  Made more frustrating because the State has rules in place for how everything is to be given away.

You try to learn what you need to create a plan to protect you and your family, but you are overwhelmed and frustrated with the amount of information and conflicting advice.

And why wouldn’t you be?

Here’s what happens:

You research planning on the internet and there is so much information on the Web you can’t take it all in.  You try to read the articles, but they are full of frustrating legal terms and don’t really teach you much.  You just get more frustrated.

Friends, family, and the Web are full of conflicting advice.  Because of the conflicting advice, you can’t decide what to do.  And, you feel helpless and confused because of the information overload.  This just makes you more uptight about the future of your family.

You call a lawyer’s office and they talk to you in “legalese” and you have to try to figure out what they were talking about.  Or, they say, come in for an appointment, but want you to pay for the initial consultation or commit right then and there.

All of this confusion leads to anxiety.  Anxiety because you don’t know what the future holds for your family.

Are you going to keep living without a plan?  Living with frustration and anxiety?

Let me help.  Let my experience and education guide you quickly and easily through creating a plan just for you and your family that protects you and your family during your lifetime and beyond.

Click here to set aside 15 to 30 minutes to chat, no obligations. 

Get your plan done quickly and easily so you can feel empowered instead of frustrated and overwhelmed.

Know that you and your family are protected and stop feeling overwhelmed.

PS:  Trying to do this on your own is not the wise choice.  You need to get some professional advice to stop your frustration.  Click here to set aside 15 to 30 minutes to chat, no obligations.

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Your Cyber Legacy: 3 Tips for Your Digital Assets

There’s an entire category of commonly-overlooked legacy to consider – digital assets. Don’t worry if you didn’t consider these assets when made your will or trust – it’s surprisingly common and, luckily, easy to correct.

What are digital assets?

• your photos (yes, all those selfies are a digital asset),
• files stored in the cloud or on your local computer,
• virtual currency accounts,
• URLs,
• social media profiles (Facebook, LinkedIn, etc.)
• device backups,
• databases,
• digital business documents, and
• because technology is ever-evolving, much more will be added as the months and years go by.

Real Value

These assets can have real value, such as virtual currency accounts, a URL, or digital business assets. So, you can no longer adopt a wait-and-see approach for these assets. Whether you proactively plan or not, your legacy now includes more than the inheritance you want to pass along, your family heirlooms, and general assets. You must now consider your digital assets.

3 Tips to Get You Started

1. Inventory your digital assets. Make a list of every online account you use. If you run a business, don’t forget spreadsheets, digital records, client files, databases, and other digital business documents, although those should probably be part of your business succession plan. If it exists in cyberspace, connects to it or pertains to it, put it on the list for your attorney and executor.

2. Designate a cyber successor. A cyber successor is someone you trust who can access your accounts and perform business on your behalf after you are gone or in the event you are incapacitated. Make sure they can access your accounts in a timely manner. Safeguard your list, so that it doesn’t end up being vulnerable to unauthorized access, identity theft, data loss, or worse.

3. Determine the necessary documents for your estate, and make a record of your wishes. You may want to put some of your digital assets into a trust or even include specific access in a power of attorney. Consult with an estate planning attorney to determine the best way to determine your successors, trustees, and beneficiaries, and then make sure the right documents or designations are in place so access can be made when it’s needed. The laws in this arena are evolving, so any planning you’ve done in the past probably needs an update.

Potential Pitfalls of Cyber Estate Planning

The worst thing you can do is nothing. This could result in the loss of digital family photo albums, disruption of your business if you’re incapacitated, or worse. If this process feels daunting or you’re still not sure where or how to start, give us a call. We can help you identify, track, and protect your digital assets to give you peace of mind.

 

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