Estate Planning begins with defining your goals, understanding the steps necessary to establish a plan fulfilling those goals, and then putting that planning in place. These are the elements of "getting it right". But what about keeping it right? Once my clients have an estate plan in place, they frequently ask me how often they should review their existing plan. Updating your estate plan is almost as important as creating the plan in the first place. There really isn't a fixed … [Read more...] about Keeping Things Right in Your Estate Plan: How Life Changes may Prompt Plan Changes
Getting it Right for your Unmarried Partner: Key Estate Planning Strategies.
I often consult with unmarried couples who are deeply committed to each other yet have made the decision not to marry now – or perhaps never to marry. If you are part of an unmarried couple, estate planning takes on heightened importance for you because the reality is that the law continues to grant benefits and rights on the legally married it does not to unmarried couples. Fortunately, careful estate planning can accomplish what the law does not. It's not hard to get this right, but the gap … [Read more...] about Getting it Right for your Unmarried Partner: Key Estate Planning Strategies.
Getting Things Right with Long-Term Care Insurance.
When I discuss estate planning with clients I try and explain the importance of planning for the cost of long-term care within their estate plan. The cost of long-term care could put your estate assets at risk if you failed to plan for the possibility ahead of time. One option for covering the cost of this kind of care is to purchase Long-Term Care insurance; however, long-term care insurance is not right for everyone. Planning for Long-Term Care Should Be Part of Your Estate … [Read more...] about Getting Things Right with Long-Term Care Insurance.
Important Estate Plan Updates for a Surviving Spouse
For my clients, the loss of a spouse is one of the most emotional experiences they will ever go through. The last thing they usually want to think about while grieving the loss of a spouse is something as seemingly disconnected from their grief as updating their own estate plan. As I often point out, however, failing to update their estate plan could lead to unintended and unwanted consequences down the road. I encourage anyone dealing with the loss of a loved one, and particularly a … [Read more...] about Important Estate Plan Updates for a Surviving Spouse
Trust Administration Explained
When the Estate Planning Attorneys at Clarity Legal Group work with clients to create an estate plan, we always begin with listening to the client's particular goals and concerns so we can tailor the plan to the unique needs of the client. We do a lot of planning built around Living Trusts. I am sometimes asked "do I need a Living Trust?" I think better questions are "how can I accomplish my goals through a Living Trust" and "how does planning around a Trust accomplish those goals better or … [Read more...] about Trust Administration Explained
Succession Planning for Your Family Business
Small business ownership is on the rise once again in America. That means I have more clients who come to me with a family business they want to protect as part of their estate plan. The most important advice I give those clients is to stress the need for succession planning. A family owned business in unlike any other asset which might be part of an estate. It requires special consideration. If you own a family business, I urge you to learn more about succession planning as well. Without a … [Read more...] about Succession Planning for Your Family Business
Families Gather in Novel Ways in Pandemic
COVID-19, the novel coronavirus, has been a challenge confronting countries around the world. The disruptions from the social distancing required to fight the virus have been felt by people around the world. As we mark passing holidays, we reflect on the importance of family. Learn how to share time with family during this pandemic and tackle tasks such as Estate Planning. As we begin to open up non-essential businesses and some of us begin to spend more time outside of our homes, remember … [Read more...] about Families Gather in Novel Ways in Pandemic
Introducing Our 5-Day Rocket Process
Dear Friends of Clarity: At Clarity Legal Group we see the challenges of dealing with the Covid-19 pandemic as an occasion for all of us to come together as a community while staying physically apart. It is essential to protect each other, especially those who are most vulnerable among us. The services we provide in the areas of elder law, estate planning, and healthcare planning seem particularly timely under the circumstances. The latest Stay-at-Home orders issued this … [Read more...] about Introducing Our 5-Day Rocket Process
How Does the Coronavirus Impact your Need to do Estate Planning?
As estate planning attorneys at Clarity Legal Group®, serving Raleigh, Cary, Durham , Chapel Hill and surrounding areas, a big part of what we do is help people prepare for life's unexpected challenges. How's the coronavirus for an unexpected challenge? Big, scary, and most of all, something that feels outside of our control. All of the good advice about facing this challenge is about dealing with the things you can control. Wash you hands, frequently, thoroughly, and discipline yourself … [Read more...] about How Does the Coronavirus Impact your Need to do Estate Planning?
What If I Don’t Want to Be the Executor?
When a loved one passes away, one of the first things people typically do is to look for a Last Will and Testament. One reason they do that is because if the decedent left behind a valid Will, that document will indicate who the decedent appointed to serve as the Executor of his/her estate. In my practice, I often speak with surviving family members/loved ones who recently learned that they were appointed to be the Executor of an estate; however, they are sometimes less than enthusiastic about … [Read more...] about What If I Don’t Want to Be the Executor?
