Joint Accounts: Weigh the Risk and Reward
Many people believe that joint accounts are a good way to avoid probate and transfer money to loved ones. But while joint accounts can be useful in certain circumstances, they can have dire consequences if not used properly. Once money is deposited in a joint account,...
For Parents and Grandparents – Children with Special Needs
Many clients have asked what they can do for their children or grandchildren with special needs, to ensure they are taken care in the event of an emergency. There are several options which I have outlined: Buy enough life insurance.A parent or grandparent is...
A Gift to Start a New Life
Many of my clients have asked about making gifts to their children or grandchildren as many are now graduating from college and beginning new lives. Graduates will soon be showered with gift cards and cash, but before giving cash or buying the latest Apple accessory,...
Taking Back the Power
A Power of Attorney is probably one of the most important legal documents that is prepared, as it gives someone enormous authority and responsibility to act on your behalf. Saying that, a common question I am asked, is under what circumstances can the power of...
Planning is Not a “One and Done”
Many of us have experienced or witnessed, familial conflict when someone dies without an estate plan. While most people believe having an estate plan is important, only a third have a plan in place. Many people believe that all they need is a will, but a comprehensive...
What a Difference a Name Makes
Under the most ideal of circumstances, discussions about end-of-life care decisions are difficult, uncomfortable and often thought of as a talk better suited for a later time. For the past few years up through the present, several of my clients have asked me to...
Estate Planning For ‘Split-Level’ Families
Many people need to rethink their families' financial future as a result of second marriages or later-in-life pregnancies. Whether they have the same parents or not, a significant age difference between siblings is now termed a ‘split- level’ family. ‘Split-level’...
Why Women Must Become Financially Empowered and Secure
The life you live can become difficult emotionally and financially after your spouse passes. It can become even more daunting, if there was never a frank discussion about the family’s estate and financial planning. You need to ask questions now, to avoid additional...
Vacation Homes Need Careful Planning
Here in the mountains of North Carolina and Georgia, we have watched many new families enjoying their newly purchased vacation homes. Thankfully, they have enjoyed a relatively peaceful season. However, as the summer winds down, the reality of second home ownership...