We strive to make the process of estate planning and estate administration as simple and straightforward as possible. At American Wills and Estates we speak to our clients in plain English, and we are sensitive to the fact that many of our clients are still grieving the loss of a loved one. Our number one goal is to put our clients at ease and to reassure them with competency and compassion in their times of need.
Getting Started in the Role of Executor
Serving as an Executor (sometimes called a Personal Representative or Administrator) of an Estate doesn’t have to be a nightmare, but it’s important to be organized from the start. As the Executor you are going to be the person who is legally responsible for protecting the assets of the decedent until the probate estate... Read More
DO-IT-YOURSELF ESTATE PLANNING IS A VERY BAD IDEA
In the day and age of Google and the world seemingly being at our fingertips, I'm seeing more and people take on tasks that they are eminently unqualified to take on. Remember, you're not a car mechanic merely because you watched an engine repair video online. This same concept holds true when it comes to putting together an effective estate plan that will best address... Read More
Is it Time for Your Estate Planning Checkup?
So you've already done your estate planning and you're now good to go, right? Wrong. Even if you already have Wills, Power of Attorneys, Living Wills or even a Trust in place, don't just put everything aside and forget about it.
Like everything in life, changes happen. Because of that, we tell all of our clients that it's a very good idea to take a look at their... Read More
Estate Planning Lessons Learned
Here's an article that I came across in Forbes magazine that really does a nice job of laying out why it's so very important to have at least a basic estate plan in place. The article relates one woman's personal story of what she learned about money and estate matters after her father's death. As she tells it, her father was good but complicated man and, unfortunately, he... Read More
Do I Really Need a Will?
People are constantly asking me, "Lloyd, do I really need a Will. Isn't that something only people with a lot of money need?" And my answer is always a big, resounding NO. Not only should everyone have at least a simple Will as part of their estate plan, they should most definitely also have a well drafted Power of Attorney and Living Will as part of their overall plan as... Read More
The Importance of Having a Last Will and Testament
The importance of having a Last Will and Testament and.....a little Purple Rain to go with it. Estate planning doesn't have to be scary, difficult or expensive, but it's so very important to get it done. Quit procrastinating folks, despite the rumors to the contrary....none of us are going to live forever.
http://fox2now.com/2016/05/03/importance-of-having-a-will/... Read More
Common Estate Planning Mistakes by NFL Players
1. Living in the present, instead of planning for the... Read More
Estate Planning Mistake #3: Letting Your Heirs Fight Over Your Personal Effects
It’s been my experience that parents are often the only thing keeping their adult children from tearing each other’s heads off over every disputed matter or perceived slight. And, once the parents are gone, the fighting often reaches new levels of insanity. This is often particularly the case when it comes to the division of a parent’s personal and household effects after... Read More
Supplemental Needs Trusts
Here's a nice little article by a New York attorney about Supplemental Needs Trusts. Short but informative for those of you who may have a special needs family member and are wondering how they can safely be included such in your estate plan. Take a look.How to Leave Money to Disabled Beneficiaries Without Compromising Benefit Entitlements
While not everyone who... Read More
Estate Planning Mistake #2: Failing to Have or to Maintain a Valid Will
Even if you own nothing more than a house and a couple bank accounts, it’s absolutely essential that you keep and maintain a valid Will or Revocable Living Trust document. Otherwise, you will have no control over how your estate will pass after your death and who will be in charge of same.
I once handled an estate where gentleman passed away who was survived by... Read More