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You’ve no doubt heard of a Will, a document that says what happens to your money and belongings after you die. You may even have a Will, or know you should get one. And maybe you’ve heard of a Trust and wondered what it is and how it works. You may have even done research on Google about how to do your own Will or Trust. In fact, it’s hard to poke around the internet and not  find do-it-yourself (“DIY”) Wills and Trusts services. Legal Zoom, TrustandWill.com , and even some media personalities offer cheap DIY documents. You can even create your own Will or Trust for free by downloading a few forms. What these websites won’t do, however, is explain the potential consequences that can happen if you use one of their services.  Legal Documents Have Legal Consequences The truth is that Trusts and Wills, and other documents that all adults should have in place, like a health care directive and power of attorney, are legal documents with legal consequences. They contain lots of legal language. Even if you understand the words, you may not fully understand the nuances in the terminology. There’s a reason lawyers have to complete college, graduate from law school , then pass a bar exam before they can practice. It takes time and effort to learn the law, the legal terminology, the application of the law, and the potential consequences if something goes wrong.  Even then, many lawyers who don’t specialize in estate planning, or Wills and Trusts, put in place legal documents that fail when you become incapacitated or die, for various reasons.  And, yet, you may be getting sold on the idea that you can draft legal documents on your own, using an online website.  The promise is you can save money, and completely protect yourself and your loved ones from expensive legal consequences of not having planning in place. Unfortunately, this isn't usually the case. A Real Life Cautionary Tale Let’s keep you from being fooled by illustrating what can happen when you draft legal documents on your own without understanding the consequences. What follows is a true story: A woman passed away and her husband came into his lawyer’s office to get legal advice on what to do next. The woman (we’ll call her “Jane”) received an inheritance from her first husband (let’s call him “John”). She was also close to her adult children and her grandchildren, and wanted to make sure they received what was left of her inheritance from their father. And while she intended to leave her second husband some money, she made it very clear to her family that she wanted to provide for her children and grandchildren. Jane was frugal. She didn’t want to spend money on an attorney. So she did some research on Google about Wills and Trusts, downloaded some forms, and wrote out her own documents. She learned from Google that a Trust can keep her family from going through a court process called probate, which would save them money and leave more for them to inherit. So she drafted her own Trust thinking that she’d achieve her goals and save money at the same time.  You may already see where this is going… When John’s lawyer read Jane’s DIY Trust, they realized that what Jane actually did was leave her entire inheritance  to her second husband. Jane legally disinherited her children and grandchildren. Jane’s DIY Trust was also subject to laws of a different U.S. State than the one she lived in, meaning that any legal process related to the Trust would be more complicated than it needed to be. Surely this was not the result Jane wanted. Jane not only disinherited her children, but she failed to transfer her house to the Trust, despite drafting and filing a deed on her own, and she left assets out of her Trust altogether. So while she thought she was doing the right thing, what she really did was leave her loved ones with a giant, expensive mess.  Not surprisingly, the family ended up in court and remained there for several years. You Don’t Have to Make the Same Mistakes Jane must have believed what she heard from well-meaning folks about doing a Will and Trust on her own. She probably thought she understood the legal documents she drafted and signed. She most definitely thought she was making things easy for her family and that she was giving her children money from their father. But Jane was fooled.   Don’t be Jane. If Jane had worked with an experienced estate planning attorney, she would have created a plan that would accomplish her goals, and keep her family out of court and out of conflict. She would have saved her family years of heartache and pain, not to mention the expense.  Jane’s story teaches us that it’s absolutely worth it to work with a lawyer whenever you’re dealing with a legal document - including a Will or Trust. Don’t “Trust” those (see what we did there?) who say you can do it cheaply or do it yourself. Don’t be Jane.  What to Do Instead You owe it to your loved ones to take the time and put in the investment to do your estate planning right, and keep it up over time.  In fact, it’s the last and greatest gift you can leave them. Having your affairs buttoned up so they don’t have a mess on their hands and are allowed to process their grief in peace is your final act of love.  If you want to leave your family the gift of your love, we can help. At our firm, we don't merely dispense legal counsel or draft documents; we safeguard your family. We look at your specific family dynamics and your goals and then work with you to create a plan that ensures you and your loved ones avoid the stress, conflict, and chaos that comes from DIY documents.  To learn more about how we approach estate planning from a place of heart so you can leave your family with love, schedule a complimentary 15-minute cal l with our office or email lauren@kaplanestatelaw.com .

As parents, we're hardwired to prioritize our children's well-being above all else. We work tirelessly to provide for them, nurture them, and ensure they have every opportunity to thrive. Yet, amidst the hustle and bustle of daily life, it's easy to overlook a crucial aspect of their future: what happens to them if we're no longer here to care for them? It's a sobering thought, but one that deserves your attention. You may assume that in the event of your untimely passing, your children will automatically be cared for and inherit your assets. However, the reality is far more complex and potentially unsettling. Let's unpack why relying on these assumptions could leave your children's future in uncertain hands. The Myth of Automatic Care Yes, it's true that your children will inherit your assets upon your passing. However, without advance planning, the management of those assets will fall into the hands of a court-appointed trustee. This is an expensive proposition for the people you love most, and worse, the trustee may not necessarily align with your values or financial philosophy, leaving your hard-earned assets vulnerable to mismanagement. On top of that, and maybe worst of all, under current laws, once your child reaches the age of 18, they gain unfettered access to their inheritance. While you may have envisioned these assets providing a foundation for their future endeavors, the reality is that many 18-year-olds lack the financial maturity to handle such responsibility. From impulsive spending to falling prey to financial scams, the risks are significant.   The Importance of a Kids Protection Plan So, what's the solution? Enter the Kids Protection Plan—a comprehensive legal planning system designed to safeguard your children's well-being and financial future in the event of your incapacity or passing. A Kids Protection Plan empowers you to designate a trusted guardian who will step in to care for your children if you're unable to do so. This ensures your children will be in the loving care of someone you know and trust, rather than leaving their fate to the discretion of a judge who may lack intimate knowledge of your family dynamics. Moreover, a complete Kids Protection Plan goes beyond long-term guardianship appointments. It includes a detailed roadmap for the management of your assets on behalf of your children, specifying how funds should be allocated for their upbringing, education, and other needs. By setting clear guidelines, you mitigate the risk of financial mismanagement and ensure that your children's inheritance serves its intended purpose: supporting their growth and development. Leave Behind Detailed Instructions Naming legal guardians is just the first step. Your Kids Protection Plan won’t do much good if the people named in it aren’t aware of your plan or your wishes. You want to make sure your children’s guardians know your desires for their upbringing. Some things to include might be: ●       Faith and religious practices ●       Philosophy on education and where you’d want them to go to school ●       Activities you’d want your children involved in ●       Nutrition, medical care, or any other health considerations One of the benefits of working with our office is that I make sure that everyone named in your plan is informed of what to do if the unthinkable happens to you. And, if you are working with me, I’ll be there to guide them each step of the way. Planning for the Future At Kaplan Estate Law LLC, we understand the gravity of planning for your children's future. That's why we offer personalized Life & Legacy Planning Sessions designed to consider your family dynamics, and your assets, and then help you choose the right planning package and fees to safeguard and protect what matters to you most. Whether you're a new parent or revisiting your estate plan, our team is here to provide the guidance and expertise you need to secure your family's future for generations to come. Schedule a complimentary 15-minute call to learn more about our unique Life & Legacy Planning process. During your complimentary 15-minute call, we'll explore your current arrangements and identify any gaps that may leave your children vulnerable. Don't leave your children's future to chance. Take the first step toward peace of mind and lasting security. Schedule a complimentary 15-minute call to get started.

The political landscape is shifting, and many same-sex couples are worried about what could happen if federal protections for their marriages are rolled back. You’ve worked hard to build a life together, and the last thing you need is uncertainty about whether your marriage, your assets, or your rights will be recognized in the future. While no one can predict exactly what will happen, proper estate planning gives you security, regardless of political changes. Understanding Current Protections and Potential Changes Same-sex marriage is currently recognized in all 50 states under federal law, protected by the Supreme Court's Obergefell decision and the Respect for Marriage Act. If you were married in states like Massachusetts or New York—early adopters of marriage equality—your marriage remains valid under those state laws regardless of federal changes. But state-level protections vary significantly. Some states have explicit constitutional protections for same-sex marriage, while others maintain laws that could restrict marriage rights if federal protections change. ( Read the Illinois Religious Freedom and Marriage Fairness Act here ). Understanding your state's specific laws is crucial. For example, Massachusetts not only recognizes same-sex marriage but also provides strong protections for non-biological parents and inheritance rights. However, federal policy shifts could affect crucial benefits far beyond basic marriage recognition. You might lose access to: The unlimited marital deduction for federal estate taxes, which currently allows married couples to transfer unlimited assets to each other without tax implications Spousal Social Security benefits, including survivor benefits that can provide crucial financial support Federal retirement plan options, like tax-free rollovers for spouses and inherited IRA benefits Certain immigration rights for non-citizen spouses, including green card eligibility and expedited citizenship Federal employee benefits for government workers' spouses Military benefits for service members' spouses Additionally, moving to a state that doesn't recognize same-sex marriage could create complications with healthcare decisions, property rights, and parental rights if you have children. This uncertainty makes proper estate planning even more crucial for same-sex couples. So, to protect your loved ones from these uncertainties, let's explore the essential legal tools that can safeguard your rights and assets, regardless of marriage recognition. Essential Components of Your Life & Legacy Plan Before marriage equality, same-sex couples relied on legal planning to create many of the protections that marriage now provides automatically. These strategies remain potent tools today - if you have a comprehensive estate plan in place. A Life & Legacy Plan is a comprehensive plan that ensures your wishes are honored and your loved ones are protected regardless of potential legal changes. When you work with me, your Life & Legacy Plan may include: Trust Planning: A trust allows you to control how your assets pass to your partner without relying on marriage laws. A trust also covers incapacity, so your assets will be handled smoothly by the person you want while you’re alive and after you die. This is especially important if your marriage is not recognized where you live. A trust can also include specific provisions for: Real estate holdings and how they should be managed Business interests and succession planning Investment accounts and their distribution Personal property with sentimental value Digital assets and cryptocurrencies Healthcare Directive:  If your marriage isn't legally recognized, a hospital may not automatically allow your spouse to make medical decisions for you. A healthcare directive can legally designate them as the person with that authority (or anyone you wish) and ensures your wishes for medical care are followed, even if a hospital or family member disagrees.  Power of Attorney: This crucial document ensures your spouse (or anyone of your choosing) can handle financial matters if you become incapacitated, even if the state doesn't recognize your marriage. It gives them legal authority to manage bank accounts, pay bills, and handle property matters on your behalf.  Beneficiary Designations:  Many assets, like life insurance policies and retirement accounts, pass directly to the named beneficiary, who can be anyone you choose. Regular review and updates of these designations ensure that the person you want receives these funds without legal complications. You don’t want to rely on beneficiary designations alone, as there are risks. When you create a Life & Legacy Plan, you’ll learn about the risks and make the best decisions for you. I’ll also support you to review your plan, including beneficiary accounts, on a regular basis so you don’t accidentally leave assets to anyone you wouldn't want to receive them. All these components of a Life & Legacy Plan can protect you and your loved ones, but they won’t do that if you procrastinate - which is the number one reason why people fail to plan and put their loved ones at risk. So, understanding why immediate action is crucial can help motivate you to put these critical protections in place now rather than waiting until it might be too late. Why You Shouldn't Wait to Plan While it's tempting to take a "wait and see" approach in times of uncertainty, waiting could leave you unprotected if laws change quickly. The time to create these protections is now, while you have all options available. Waiting creates unnecessary risk and could limit your planning choices if laws change suddenly. Even if same-sex marriage protections remain intact, Life & Legacy Planning offers benefits beyond marriage rights. It helps you avoid probate, protects your assets from unnecessary taxes, and ensures your wishes are carried out exactly as you intend. In addition to the benefits discussed above, a comprehensive plan can also help you: Maintain privacy about your estate Protect assets from creditors Create legacy plans for future generations Support charitable causes you value Ensure your wishes are clearly documented Creating these protections isn't just about paperwork—it's about peace of mind. You've worked hard to build a life together, and you deserve the security of knowing your relationship and assets are protected, regardless of political changes. Laws and politics may shift, but your love and commitment remain constant. Instead of waiting to see what happens, take control of your future by securing the legal protections you and your spouse deserve. Estate planning is a powerful way to safeguard your rights, your assets, your loved ones, and your relationship, no matter what the future holds. Take Action to Protect Your Family Don't wait for potential legal changes to put protections in place for your loved ones. I can help you create a comprehensive Life & Legacy Plan that ensures your wishes are honored and your loved ones are protected, regardless of future legal developments. Your plan will include multiple layers of protection that go beyond marriage rights, giving you peace of mind about your future. Click here to schedule a complimentary 15-minute consultation and learn more.

With divorce occurring in roughly 50% of all marriages in the U.S. and life expectancy increasing every day, second—and even third—marriages are becoming quite common. And when people get remarried in mid-life and beyond, they often bring children from prior marriages into the mix. Such unions are often referred to as a “blended” family or a “Brady Bunch” family. But blended families can also take other forms. Whether you have stepchildren, adopted children, children from a previous relationship, or you have someone you consider “kin,” even though that individual might not be classified as your legal relative in the eyes of the law, these are also examples of a blended family. Whenever you merge two families into one, you are naturally going to encounter some challenges and conflict. To this end, blended families present a number of particularly challenging legal and financial issues from an estate planning perspective. Indeed, though all families should have an estate plan, planning is absolutely essential for those with blended families.  If you have a blended family and something happens to you, without a carefully considered estate plan, your loved ones are at risk for significant misunderstanding and conflict, and having your assets tied up in court, instead of passing to those you want to receive them. Unless you are okay with setting your loved ones up for heartache, confusion, and pain when something happens to you, you need an estate plan that’s intentionally designed by an experienced lawyer (not an online document service) to keep your loved ones out of court and out of conflict. While you should meet with us to plan for your particular family situation, here are a few of the most common issues blended families should keep in mind when creating or updating their estate plan. 1. Keeping Your Assets Separate If you get remarried and have children from a previous marriage, you need to think about how you want to balance providing for your new spouse and ensuring the children from your previous marriage receive an inheritance from you, in the event of your incapacity or when you die. If you intend to keep your assets separate, so each spouse can pass an inheritance to his or her own children, you’ll need to create and maintain separate financial accounts. For instance, one account contains the assets you want to pass on to your children, and the other can be either a separate or joint account that contains the assets you want to share with your new spouse. Keep in mind, if you and your spouse commingle your income and assets, then the new spouse will have claim and control of those assets when you die, which can easily leave your kids with nothing. Moreover, joint accounts can be subject to claims from a former spouse and/or creditors, so unless you want your new spouse to share that risk, keep at least some of your assets separate. And if you’re keeping assets separate, be sure to talk with us about the best ways to do that, since it can get somewhat tricky, particularly when you are sharing some assets and buying new assets together with your new spouse. 2. Issues With Inheritance Timing If you have children for whom you want to leave an inheritance, you need to consider how and when you want those assets to be passed on. For example, what would happen if you die prematurely or if your spouse is significantly younger than you? Do you want your kids to wait until your new spouse dies to receive their inheritance, or do you want them to receive it immediately following your death? Perhaps you desire to create a hybrid in which your children receive a small inheritance at the time of your death, and they receive the rest upon the death of your new spouse, which could be many years in the future. Establishing trusts for each spouse’s children can protect those assets and stipulate when the kids receive their inheritance. You may want to provide your children with some of their inheritance, such as proceeds from a life insurance policy, upon your death, and then release the rest at some point in the future. Or if your kids are very young, you may decide to leave that decision up to your spouse or a third-party successor trustee, who can better determine the most advantageous time to pass on your children’s inheritance to them. We will work with you, taking into account your unique family dynamics, assets, and potential areas of risk and conflict to help you determine the optimal time to pass on your wealth and other assets to your heirs to ensure it has the maximum benefit for everyone involved. 3. Carefully Consider Your Trustees A common scenario for blended families is for one spouse to set up a revocable living trust that names themselves as the trustee during his or her lifetime, with the surviving spouse named as successor trustee once the first spouse dies. Yet, this would leave all decisions related to the trust assets to the surviving spouse, which could cause conflict with the children from your prior marriage.  For example, the new spouse may choose to invest the trust assets conservatively, ensuring he or she has enough money to live comfortably for a few decades, instead of investing the assets for growth. On the other hand, the children—particularly if they are younger—might be better off having the assets placed into higher-risk investments, which can offer better returns in the long run, but leave less income for the surviving spouse. In this case, it could be best to name a neutral third-party as successor trustee, so both your children and surviving spouse’s interests can be balanced fairly. 4. Preventing Conflict If you are in a second (or more) marriage, with children from a prior marriage, the conflicting interests of your children and spouse can create serious strife between them in the event something happens to you. To reduce the likelihood of conflict, your estate plan needs to contain clear and unambiguous terms, spelling out the beneficiaries’ exact rights, along with the rights and responsibilities of executors and/or trustees. Such precise terms help ensure all parties know exactly what you intended. Additionally, it’s essential that you meet with all affected parties within your blended family while you’re still alive (and of sound mind) to clearly explain your wishes directly, if you hope for your loved ones to love each other after you are gone. Sharing your intentions and hopes for the future with your new spouse and children from a prior marriage can go a long way in preventing disagreements over your wishes for each of them. As your attorney, we can even facilitate these meetings to help ensure your blended family maintains a harmonious relationship no matter what happens to you. 5. Planning For Incapacity In addition to planning for your eventual death, you must also plan for your potential incapacity. In this case, you’ll need to discuss how planning vehicles for your incapacity, such as a durable financial power of attorney, medical power of attorney, and a living will will be handled.  For example, if you become incapacitated, who would you want making your legal, financial, and medical decisions for you? If your children are young, it’s best to leave those decisions up to your surviving spouse. However, if your children are older, you may want them included in the discussion of how such decisions will be made. Or you may prefer to name one of your adult children as your decision maker, or you might divide the different duties between your spouse and adult children. Regardless of what you choose, we can support you to create an estate plan that ensures your incapacity will be managed exactly how you would want in every possible scenario. Bringing Families Together Along with other major life events like births, deaths, and divorce, entering into a second (or more) marriage requires you to carefully review and rework your estate plan. And updating your plan is exponentially more important when there are children involved. At Kaplan Estate Law, we counsel blended families on how to properly protect their assets in a manner that’s best for both the spouse and any children involved. We will ensure that you and your new spouse can clearly document and communicate your wishes to avoid any confusion or conflict over how assets and/or legal agency will be managed and passed on in the event of one spouse’s death or incapacity. If you have a blended family, or are in the process of merging two families into one, sit down with us to discuss your different planning options. Contact us today to schedule your initial consult or e-mail lauren@kaplanestatelaw.com .

A comprehensive Life & Legacy Plan is about creating a strategy that lets you enjoy your life to the fullest while protecting your loved ones' future when you can no longer be there. It might seem like life insurance is an easy way to help secure your loved ones’ future – and it is – but your policy must be set up in the right way to have the best possible impact on your family. The way you set up your beneficiary designations on your insurance policy can significantly impact its effectiveness, how it’s used, and who controls it after you die. In this blog, we'll explore how not to name beneficiaries on your life insurance and how to name beneficiaries to ensure your loved ones have the funds they need to thrive when something happens to you.  DO NOT Name a Minor As The Beneficiary of Your Life Insurance Policy   Naming your child or grandchild as a direct (or even backup) beneficiary of your life insurance policy may seem like a natural choice, but if you do that you’re guaranteeing a bad outcome for the people you love. First of all, if a minor child is the beneficiary of a life insurance policy, it guarantees a court process called “guardianship” or “conservatorship” must occur to name a legal guardian or conservator to manage the assets for your minor beneficiary until they turn 18. Then, at 18, your minor child who is just barely an adult receives everything left in the account, outright, unprotected, with no oversight or guidance. This is the worst possible outcome for everyone involved.  If you are buying life insurance, you are doing it to make the life of your loved one’s better. However, naming a minor child as a beneficiary will make things harder and more complicated. You might think the answer is to name a trusted family member or friend as the beneficiary of your life insurance, hoping they’ll use the funds for your kids, but don’t do that!  If you name another adult as the beneficiary for a life insurance policy intended for your kids, your kids will have no legal right to the money  – which means the adult you named as beneficiary can use the money however they want and don’t have to use it for your kids at all!  So what’s the solution? Keep reading until the end to find out what to do instead. Be Careful When Naming Adult Beneficiaries Directly Direct payouts to adult beneficiaries may seem straightforward, but can have unintended consequences. Life circumstances change, and the lump sum received from a life insurance policy might be at risk if not managed properly. By avoiding direct payouts, you can ensure that the financial security provided by the insurance is preserved for the long term. One key concern is the potential for beneficiaries to hastily misuse or exhaust the funds. A sudden windfall might lead to imprudent spending, leaving your loved ones without the financial support you intended. Additionally, if your beneficiaries are not financially savvy, they may struggle to manage a lump sum effectively, meaning the policy might lose money over time. Even if an adult beneficiary is financially responsible and savvy – or knows enough to speak to a financial advisor – life events can put the funds at risk. Because the life insurance proceeds now belong entirely to your beneficiaries in this case, the proceeds of the policy are now completely vulnerable to any future divorces or lawsuits that your beneficiary may go through in the future. That means that if your beneficiary is divorced, sued, or accumulates debt, all the money they received from your insurance policy could be lost. Plan For Your Life Insurance The Right Way: Use a Trust  A Trust is an agreement you make with a person or an institution  you choose. This person is called your Trustee, and their directive is to manage the assets you put into or leave to your Trust, according to the rules you create.  Instead of naming minors or adult loved ones as the direct beneficiaries of your life insurance, name your Trust as the beneficiary of your policy instead. By doing this, your loved ones will still receive the funds you intend for them while maintaining control over how the funds are managed and distributed. This ensures that your wishes for your assets and your loved ones are carried out even after you're gone.  How does it work? A well-drafted Trust allows you to specify conditions for distributing the Trust funds , ensuring that the funds are used for intended purposes such as your beneficiaries’ education, homeownership, or other specific needs. Distributions from the Trust can also depend on the ages and circumstances of each beneficiary. This level of control can prevent the misuse of funds and promote responsible financial behavior for everyone involved. Plus, assets held in a Trust bypass the probate process, ensuring a more efficient and timely distribution of funds to your beneficiaries. This can be crucial in providing immediate financial support to your loved ones when they need it the most.  And while you can choose to have your Trustee distribute life insurance proceeds directly out to your beneficiaries outright, at specific ages and stages, you may want to provide even more protection for your beneficiaries. One of the considerations we’ll help you make is whether to retain the assets in trust, giving your beneficiaries control over the Trust assets, but in a manner that keeps the inherited life insurance protected from lawsuits, future divorces, and creditors. Let Us Set Up Your Entire Plan In The Best Way Possible Setting up your life insurance policy with the right beneficiaries involves careful consideration of your unique family dynamics, financial goals, and long-term objectives while being proactive to avoid future issues. By doing so, you maximize the benefits of your life insurance to provide a lasting legacy of financial security and support for your loved ones.  But planning for your life insurance is only one step in creating a plan for everything you own and everyone you love today and in the future. As your attorney, my mission is to guide you to create a comprehensive estate plan, which I call a Life & Legacy Plan, that ensures your wishes are fulfilled and your family's future is protected no matter what the future holds. Schedule a complimentary call with my office to learn more.

Every year on February 1st, we observe National Unclaimed Property Day - a reminder of the staggering $60 billion in forgotten and abandoned assets currently held by state governments across America. And this isn't just spare change we're talking about. These are life insurance policies, forgotten bank accounts, uncashed checks, retirement funds, and other valuable assets that have lost their connection to their rightful owners. I regularly see the consequences of overlooked assets and inadequate estate planning. Let's explore how assets are lost and become "unclaimed," how to prevent your assets from ending up in this $60 billion pool, and, most importantly, how to ensure your hard-earned assets reach your loved ones the way you want. How Assets Become "Lost" You might wonder how billions of dollars in assets could go missing. The truth is, it happens more easily than you'd think. Think about this: you become incapacitated or die, and someone in your family (either someone you named legally or someone chosen by a judge) has the job of finding all of your assets. Would they be able to find everything? How easy would it be for you to find everything, and you know what you earned, the accounts you set up, when you worked for that one company that set up a retirement account for you, got that insurance policy, etc.  What we see commonly when someone passes away without an updated estate plan (including a comprehensive asset inventory), is that their loved ones often have no idea what assets exist or where to find them. Those assets could eventually end up in state custody instead of going to the people you love. That money could be used to fund your children’s education, an investment in a loved one’s business, or to enhance the lives of the people you love most. If you try to DIY your estate plan, either on your own or with an online service, you typically receive a set of documents to review and sign. You might take these documents home, put them on a shelf or in a drawer, and never look at them again. There's usually no inventory of your assets, which means that some of your assets could be lost or overlooked and end up part of that $60 billion in unclaimed property.  Why an Asset Inventory and Regular Review is Crucial I know that effective estate planning isn't a one-time event - it's a lifelong process that includes an inventory of what you have, as well as regular updates to your inventory, as well as the legal documents that go along with it. My process begins with a Life & Legacy Planning Session, where you’ll create an inventory of your assets, ensuring nothing gets overlooked or forgotten. This inventory includes not just the obvious assets like your home and bank accounts but also: Life insurance policies Retirement accounts from all previous employers Investment accounts Business interests Valuable personal property Intellectual property rights Digital assets and cryptocurrency Digital assets present a particular challenge in today's world. Cryptocurrency, online banking accounts, social media profiles, and digital business assets can be especially difficult for loved ones to track down and access without proper planning. Many people don't realize that without proper documentation and access instructions, their digital assets could become effectively lost forever, even if their family and friends know they exist. When you work with me, I’ll also help you keep your inventory updated throughout your life. I do this by conducting regular reviews of your Life & Legacy Plan to ensure your asset inventory stays current and properly aligned with your goals, wishes, and values. This comprehensive approach helps prevent your assets from becoming lost so they can go to the people you want in the way you want. Beyond the Financial Impact While creating an asset inventory is crucial, my Life & Legacy Planning process goes several steps further. It's not enough to simply list what you own - you need to ensure these assets are properly titled, beneficiary designations are up to date, and your loved ones know how to access everything when the time comes. I support you with it all. I will also be there for your loved ones when you no longer can. In addition, there’s another crucial part of planning that’s often omitted from traditional or DIY planning. It’s the realization that the value of many assets isn't financial. Family photographs stored in the cloud, emails containing important family history, and digital collections of music or art can have tremendous sentimental value. Yet without proper planning, these too can become effectively "unclaimed property" - inaccessible to the very people meant to inherit them. When these invaluable family legacies are lost, they become another kind of unclaimed property, though their value can't be measured in dollars. Remember, proper estate planning isn't just about having the right documents - it’s about taking all the steps needed to make things as easy as possible for your loved ones. It's the greatest act of love you can give to the people you cherish most. Your Next Step As your attorney, I can help you create a comprehensive Life & Legacy Plan that includes a complete asset inventory, regular reviews, and updates to ensure nothing gets lost or forgotten. I’ll also support you to create a Life & Legacy Interview so your most valuable assets - your values, traditions and love - get passed on to the people you love most. Let's work together to protect your legacy. Click here to schedule a complimentary 15-minute consultation and learn more about how I can help.

In the first part of this series, we discussed one of the most frequent causes for dispute over your estate plan. Here, we’ll look at another leading cause for dispute and offer strategies for its prevention. No matter how well you think you know your family, you can never predict how they’ll behave when you die or if you become incapacitated. Family dynamics are complicated and prone to conflict during even the best of times, but when tragedy strikes a key member of the household, minor tensions and disagreements can explode into bitter conflict. And when access to money is involved, the potential for discord is exponentially increased. No one wants to believe their family would ever end up battling one another in court over inheritance issues or a loved one’s life-saving medical treatment, but we see it all the time. This is especially true for those who rely on do-it-yourself estate planning documents found online. The good news is you can dramatically reduce the odds of such conflict by enlisting the support of an experienced lawyer like us to assist you in creating your estate plan. Even the best set of documents will be unable to anticipate and navigate the complex emotional dynamics that make up your life and family, but we can. Last week, we discussed one of the most common reasons for dispute, poor fiduciary selection, which involves selecting the wrong trustee, executor, or guardian for your kids. Today, we focus on another leading catalyst for conflict: contests to the validity of your will and/or trust. 02   | CONTESTING THE VALIDITY OF WILLS AND TRUSTS The validity of your will and/or trust can be contested in court for a few different reasons. If such a contest is successful, the court declares your will or trust invalid, which effectively means the document(s) never existed in the first place. Obviously, this would likely be disastrous for everyone involved, especially your intended beneficiaries. However, just because someone disagrees with what he or she received in your will or trust doesn’t mean that person can contest it. Whether or not the individual agrees with the terms of your plan is irrelevant; it is your plan after all. Rather, he or she must prove that your plan is invalid (and should be thrown out) based on one or more of the following legal grounds: The document was improperly executed (signed, witnessed, and/or notarized) as required by state law. You did not have the necessary mental capacity at the time you created the document to understand what you were doing. Someone unduly influenced or coerced you into creating or changing the document. The document was procured by fraud. Furthermore, only those individuals with “legal standing” can contest your will or trust. Just because someone was intimately involved in your life, even if they’re a blood relative, doesn’t automatically mean they can legally contest your plan. Those with the potential for legal standing generally fall into two categories: 1) Family members who would inherit, or inherit more, under state law if you never created the document. 2) Beneficiaries (family, friends, and charities) named or given a larger bequest in a previous version of the document. SOLUTION There are times when family members might contest your will and/or trust over legitimate concerns, such as if they believe you were tricked or coerced into changing your plan by an unscrupulous caregiver. However, that’s not what we’re addressing here. Here, we’re addressing—and seeking to prevent—contests that are attempts by disgruntled family members and/or would-be beneficiaries seeking to improve the benefit they received through your plan. We’re also seeking to prevent contests that are a result of disputes between members of blended families, particularly those that arise between spouses and children from a previous marriage. First off, working with an experienced lawyer like us is of paramount importance if you have one or more family members who are unhappy—or who may be unhappy—with how they are treated in your plan. This need is especially critical if you’re seeking to disinherit or favor one part of your family over another. Some of the leading reasons for such unhappiness include having a plan that benefits some children more than others, as well as when your plan benefits friends, unmarried domestic partners, and/or other individuals instead of, or in addition to, your family. Conflict is also likely when you name a third-party trustee to manage an adult beneficiary’s inheritance because he or she is likely to be negatively affected by the sudden windfall of money. In these cases, it’s vital to make sure your plan is properly created and maintained to ensure these individuals will not have any legal ground to contest your will or trust. One way you can do this is to include clear language that you are making the choices laid out in your plan of your own free will, so no one will be able to challenge your wishes by claiming your incapacity or duress. Beyond having a sound plan in place, it’s also crucial that you clearly communicate your intentions to everyone affected by your will or trust while you’re still alive, rather than having them learn about it when you’re no longer around. Indeed, we often recommend holding a family meeting (which we can help facilitate) to go over everything with all impacted parties. Outside of contests originated by disgruntled loved ones, the potential for your will or trust to cause dispute is significantly increased if you have a blended family. If you are in a second (or more) marriage, with children from a prior marriage, there’s an inherent risk of dispute because your children and spouse often have conflicting interests. To reduce the likelihood of dispute, it’s crucial that your plan contain clear and unambiguous terms spelling out the beneficiaries’ exact rights, along with the rights and responsibilities of executors and/or trustees. Such precise terms help ensure all parties know exactly what you intended. If you have a blended family, it’s also essential that you meet with all affected parties while you’re still alive (and of sound mind) to clearly explain your wishes in person. Sharing your intentions and hopes for the future with your spouse and children is key to avoiding disagreements over your true wishes for them. PREVENT DISPUTES BEFORE THEY HAPPEN The best way to deal with estate planning disputes is to do everything possible to make sure they never occur in the first place. This means working with us as your attorney to put planning strategies in place aimed at anticipating and avoiding common sources of conflict. Moreover, it means constantly reviewing and updating your plan to keep pace with your changing circumstances and family dynamics. Meet with us today to learn more or e-mail lauren@kaplanestatelaw.com with questions.

No matter how well you think you know your loved ones, it’s impossible to predict exactly how they’ll behave when you die or if you become incapacitated. Of course, no one wants to believe their family would ever end up battling one another in court over inheritance issues or a loved one’s life-saving medical treatment, but the fact is, we see it all the time. Family dynamics are extremely complicated and prone to conflict during even the best of times. And when tragedy strikes a key member of the household, even minor tensions and disagreements can explode into bitter conflict. I hear all the time "my kids get along", however, when access to money is on the line, the potential for discord is exponentially increased. The good news is you can drastically reduce the odds of such conflict through estate planning with the support of a lawyer who understands and can anticipate these dynamics. This is why it’s so important to work with an experienced lawyer like us when creating your estate plan and never rely on generic, do-it-yourself planning documents found online. Unfortunately, even the best set of documents will be unable to anticipate and navigate complex emotional matters like this, but we can. By becoming aware of some of the leading causes of such disputes, you’re in a better position to prevent those situations through effective planning. Though it’s impossible to predict what issues might arise around your plan, the following two things are among the most common catalysts for conflict. 01   |  POOR FIDUCIARY SELECTION Many estate planning disputes occur when a person you’ve chosen to handle your affairs following your death or incapacity fails to carry out his or her responsibilities properly. Whether it’s as your power of attorney agent, executor, or trustee, these roles can entail a variety of different duties, some of which can last for years. The individual you select, known as a fiduciary, is legally required to execute those duties and act in the best interests of the beneficiaries named in your plan. The failure to do either of those things, is referred to as a breach of fiduciary duty . The breach can be the result of the person’s deliberate action, or it could be something he or she does unintentionally, by mistake. Either way, a breach—or even the perception of one—can cause serious conflict among your loved ones. This is especially true if the fiduciary attempts to use the position for personal gain, or if the improper actions negatively impact the beneficiaries. Common breaches include failing to provide required accounting and tax information to beneficiaries, improperly using estate or trust assets for the fiduciary’s personal benefit, making improper distributions, and failing to pay taxes, debts, and/or expenses owed by the estate or trust. If a suspected breach occurs, beneficiaries can sue to have the fiduciary removed, recover any damages they incurred, and even recover punitive damages if the breach was committed out of malice or fraud. SOLUTION Given the potentially immense responsibilities involved, you need to be extremely careful when selecting your fiduciaries, and make sure everyone in your family knows why you chose the fiduciary you did. You should only choose the most honest, trustworthy, and diligent individuals, and also be careful not to select those who might have potential conflicts of interest with beneficiaries. Moreover, it’s vital that your planning documents contain clear terms spelling out a fiduciary’s responsibilities and duties, so the individual understands exactly what’s expected of him or her. And should things go awry, you can add terms to your plan that allow beneficiaries to remove and replace a fiduciary without going to court. We can assist you with selecting the most qualified fiduciaries; drafting the most precise, explicit, and understandable terms in all of your planning documents; as well as ensuring that your family understands your choices, so they do not end up in conflict when it’s too late. In this way, the individuals you select to carry out your wishes will have the best chances of doing so successfully—and with as little conflict as possible. Next week, we’ll continue with part two in this series discussing common causes for dispute over estate planning. At Kaplan Estate Law, we can guide you to make informed, educated, and empowered choices to protect yourself and the ones you love most. Contact us today to get started with a complimentary Initial Consult or email lauren@kaplanestatelaw.com with questions.

One of our primary goals is to educate you on the vital importance of not only preparing an estate plan, but also keeping your plan up-to-date. While you almost surely understand the importance of creating an estate plan, you may not know that keeping your plan current is every bit as important as creating a plan to begin with. In fact, outside of not creating any estate plan at all, outdated estate plans are one of the most common estate planning mistakes we encounter. We’ll get called by the loved ones of someone who has become incapacitated or died with a plan that no longer works because it was not properly updated. Unfortunately, once something happens, it’s too late to adjust your plan, and the loved ones you leave behind will be stuck with the mess you’ve left, or they could end up in a costly and traumatic court process that can drag out for months or even years. Estate planning is an ongoing process, not a one-and-done type of deal. To ensure your plan works properly, it should continuously evolve along with your life circumstances and other changing conditions. Regardless of who you are, your life will inevitably change: families change, assets change, laws change, and goals change.  In the absence of any major life events, we recommend reviewing your estate plan annually and we do 3 year reviews with all clients to keep you accountable. However, there are several common life events that require you to immediately update your plan—that is, if you want it to actually work and keep your family out of court and out of conflict. To this end, if any of the following events occur in your life, contact us right away to amend your estate plan. LIFE EVENTS THAT NECESSITATE AN IMMEDIATE REVIEW OF YOUR ESTATE PLAN 01   |  YOU GET MARRIED: Marriage not only changes your relationship status; it changes your legal status. Regardless of whether it’s your first marriage or fourth, you must take the proper steps to ensure your estate plan properly reflects your current wishes and needs. After tying the knot, some of your most pressing concerns include naming your new spouse as a beneficiary on your insurance policies and retirement accounts, granting him or her Medical Power Of Attorney and/or Durable Financial Power Of Attorney (if that’s your wish), and adding him or her to your will and/or trust 02   |  YOU GET DIVORCED: Because divorce is such a stressful process, estate planning often gets overshadowed by the other dramatic changes happening. But failing to update your plan for divorce can have terrible consequences. Once divorce proceedings start, you’ll need to ensure your future ex is no longer eligible to receive any of your assets or make financial and medical decisions on your behalf—unless that’s your wish. Once the divorce is finalized and your property is divided, you’ll need to adjust your estate plan to match your new asset profile and living situation. 03   |  YOU GIVE BIRTH OR ADOPT: Welcoming a new addition to your family can be a joyous occasion, but it also demands entirely new levels of planning and responsibility. At the top of your to-do list should be legally naming both long and short-term guardians for your child. Once you’ve named guardians, consider putting other estate planning vehicles, such as a Revocable Living Trust, in place for your kids. These planning tools can make certain the assets you want your child to inherit will be passed on in the most effective and beneficial way possible for everyone involved. Consult with us to determine which planning strategies are best suited for your family situation. 04   |  YOU HAVE A MINOR CHILD REACH THE AGE OF MAJORITY: Once your kids become legal adults—which is age 18 or 21, depending on your state—many areas of their life that were once under your control will become entirely their responsibility. And if your kids don’t have the proper legal documents in place, you could face a costly and traumatic ordeal should something happen to them.   For instance, if your child were to get into a serious car accident and require hospitalization, you would no longer have the automatic authority to make decisions about his or her medical treatment or the ability to manage their financial affairs. Without legal documentation, you wouldn’t even be able to access your child’s medical records or bank accounts without a court order. To prevent your family from going through an expensive and unnecessary court process, speak with your kids about the importance of estate planning, and meet with us to ensure they have the proper legal documents in place as they start their journey into adulthood. 05   |  A LOVED ONE DIES: The death of a family member, partner, or close friend can have serious consequences for both your life and estate plan. If the deceased person was included in your plan, you need to update it accordingly to fill any gaps his or her death may create. From naming new beneficiaries, executors, and guardians to identifying new heirs to receive assets allocated to the deceased, make sure your plan addresses all voids created by a death in the family as soon as possible. 06   |  YOU GET SERIOUSLY ILL OR INJURED: As with death, illness and injury are an unavoidable part of life. If you’ve been diagnosed with a serious illness or are involved in a life-changing accident, you may want to review the people you’ve chosen to handle your medical decisions as well as how those decisions should be made. The person you want to serve as your healthcare proxy can change with time, so be sure your plan reflects your current wishes. 07   |  YOU MOVE TO A NEW STATE:  Estate planning laws can vary widely from state to state, so if you move to a different state, you’ll need to review and/or revise your plan to ensure it complies with your new home’s legal requirements. And because some estate planning laws are complex, you’ll want to meet with us to make certain your plan will still work exactly as you desire in your new location. 08   |  YOUR ASSETS OR LIABILITIES CHANGE SIGNIFICANTLY:  Whenever the value of your estate changes dramatically—whether an increase or decrease, or even just the acquisition or sale of assets— you should revisit and update your plan. Whether you inherit a fortune, take out a new loan, retire, sell a home or business, buy a home or business, or change your investment portfolio, your plan should be adjusted accordingly. 09   |  YOU BUY OR SELL A BUSINESS: If you are buying a business, you’ll want to ensure your plan is updated to take into account your succession plans for the new venture. For every business you own, you should consider creating a buy-sell agreement and a business succession plan to protect both your business and your family in case something happens to you. In your plan, you can not only decide who will take over your role as the company’s owner should something happen to you, but you can also provide him or her with a detailed road map for how the business should be run in your absence with a comprehensive business succession plan. 10   |  THE FEDERAL ESTATE-TAX EXEMPTION OR YOUR STATE’S ESTATE-TAX EXEMPTION CHANGES SIGNIFICANTLY: Anytime the federal estate-tax exemption or your state's estate-tax exemption changes dramatically, we recommend you review your financial assets and your estate plan. Tax laws are constantly changing, and the federal estate tax exemption is set to decrease significantly at the end of 2025, so you should consult with us to ensure you are achieving the maximum tax savings possible and your investments are still aligned with your strategic goals in light of the latest changes to the tax code. LIFE & LEGACY PLANNING At Kaplan Estate Law, our estate planning services go far beyond simply creating documents and then never seeing you again. In fact, we will develop a relationship with you and your family that lasts throughout your lifetime. Ultimately, we’ve discovered that estate planning is about far more than planning for your death and passing on your “estate” to your loved ones—it’s about planning for a life you love and a legacy worth leaving by the choices you make today. And this is why we call our services Life & Legacy Planning. Contact us to get your plan started today. Want to learn more? Register for our FREE webinar on Jan. 28th at 12:15pm. Jan. 28, 2025 @12:15 p.m.

Surveys conducted in 2024 by Caring.com and Ameriprise Financial revealed a troubling trend: Americans are falling behind on estate planning. The Caring.com survey  revealed that only 32% of Americans have a will - a 6% decline from 2023. The Ameriprise survey  found that 52% of couples lack estate plans. These statistics highlight a dangerous disconnect between understanding the importance of estate planning and taking action. Let's examine these misconceptions and their potentially devastating consequences. Myth 1: "I don't have enough assets to need an estate plan."  This dangerously narrow thinking ignores that estate planning isn't just about financial wealth. It's about doing the right thing for the people you love so you don’t leave a mess, and about ensuring your wishes for your own care are considered if you cannot make decisions for yourself due to accident or illness. If you haven’t created a Life & Legacy plan, your loved ones could face lengthy court proceedings, unnecessary taxes, and difficulty accessing financial accounts, which could have devastating consequences if bills need to be paid. It’s also about: Ensuring what you DO have goes to the people you want in the way you want (and stays out of the court process); Your children being raised by people you choose; Your wishes for your medical care are honored if you become incapacitated, or if your mind deteriorates; Only people you trust are able to manage your finances if you can’t manage your finances yourself, and Leaving your loved ones with your most valuable assets - your values, insights, stories, experiences and your love. Moreover, a Life & Legacy plan can minimize conflict among your loved ones. By clearly outlining your intentions, and ideally getting my support to share your intentions with your loved ones, you significantly reduce the chances of misunderstandings or disputes, while also increasing the chances that your resources will be used to create a better future for the people you love.  Finally, an estate plan that works will save your loved ones time and money by ensuring the people who matter know what you have, where it is, how to find it, what to do with it when they do find it, and keeps them out of court and conflict. In short, an estate plan is not a luxury reserved for the wealthy; it’s a necessity for anyone who has things that matter, and people who matter. If that’s you, and you don’t have an estate plan (or your plan could be outdated) let’s talk soon .  Myth 2: "My spouse and I trust each other completely."  Ameriprise's survey reveals 95% of couples trust each other with finances and 91% share financial values. When couples don’t plan because they trust each other to carry out each other’s wishes, they’re overlooking several essential matters. For instance, trust between spouses doesn't prevent legal complications or avoid court. Without a Life & Legacy plan, a surviving spouse may face lengthy probate proceedings, increased tax burdens, and difficulty accessing accounts. This strain can damage relationships and deplete assets meant for heirs. Even worse, if both spouses die simultaneously, the complications can be significant, especially if the spouses have children from prior marriages, or minor children.  Another potential issue arises if the surviving spouse remarries. Without an estate plan, assets could unintentionally be passed to the new spouse instead of the people the deceased spouse loved. In some cases, children may even be accidentally disinherited, leaving them without the financial support their parent had planned to provide. Myth 3: "Estate planning is too expensive."  Another common misconception is that estate planning is a luxury reserved for the wealthy because of its perceived high cost. The reality? Avoiding estate planning due to cost concerns can lead to far more significant time and money costs for the people you love down the road. Without a plan, your loved ones may face costly probate proceedings, unnecessary taxes, and legal disputes that can drain your estate and create additional stress for your loved ones during an already difficult time. These costs often far exceed the upfront investment of creating an estate plan. Beyond the financial aspect, the peace of mind that comes with knowing your loved ones are protected is invaluable. A Life & Legacy plan ensures that your wishes are carried out, your loved ones are cared for, and potential conflicts are minimized. By addressing these matters proactively, you save the people you love from emotional and financial burdens, making Life & Legacy planning one of the wisest and most compassionate investments you can make, as well as the best gift you can give to the people you love. Myth 4: "I don’t need to worry about who would raise my kids." Many parents of minor children assume that in the event of their death, loved ones will naturally step forward to care for their children. Unfortunately, these assumptions are often misplaced. Without a Kids Protection Plan, which I support you to create, the decision about who raises your children will be left to a judge - a complete stranger to you and your children. And when a stranger makes the decision about who will raise your kids, it might not be the person you would have wanted. In some cases, the individual granted guardianship could have values, parenting styles, or circumstances entirely incompatible with how you envisioned your children being raised. Another important consideration is the financial burden imposed on your children’s chosen guardian. If you haven’t created a Life & Legacy plan, and allocated sufficient funds for your children’s care, even willing loved ones might decline guardianship, leaving the court to make an even more difficult choice. A Life & Legacy plan alleviates the potential financial burden on your chosen guardians and ensures that your children receive the care and stability they need during an emotionally challenging time. Take Action Now to Protect the People You Love I've seen too many people suffer negative, yet unnecessary, consequences after a loved one dies. And if you haven't experienced it yourself, chances are you probably will. But with the proper education, beginning with correcting these dangerous myths about estate planning, I believe we can break the cycle of strife. At Kaplan Estate Law, we start with education so you are clear on what would happen to your loved ones and your assets if you become incapacitated and when you die. Then we will work together to create a plan that aligns with your values, your goals, your loved ones, and most importantly, that works when you need it to. We call it the Life & Legacy Planning process, and once you've created your Life & Legacy plan, you can rest easy knowing your wishes will be honored, your loved ones cared for, and your property protected.  Book a call with us today to get started or e-mail lauren@kaplanestatelaw.com with questions.

You know that uneasy feeling when you think about what everyone you love would do, if (and when) something happens to you? That nagging voice reminding you that you still haven't created a will or trust or updated the estate plan you do have?  As we enter 2025, it's time to stop pushing those thoughts aside and take action to protect the people you love most. Many people avoid estate planning because they think it will be complicated, expensive, too time-consuming, or emotionally challenging. But the truth is, not having a plan, or having an out-of-date plan, is far more costly – financially,  emotionally, and time-wise – for the people you love.  Let's take a look at five things you can do right now to create lasting peace of mind. Step 1: Get Financially Organized One of the biggest challenges people face after losing a loved one is trying to piece together their financial life. Where are all the accounts? What insurance policies exist? What bills need to be paid? Without proper organization, your family could spend months or even years trying to track everything down. Worse yet, anything they don’t find will be turned over to the State Department of Unclaimed Property, where there are approximately $60 billion in lost assets nationwide.   As important as it is, financial organization isn't just about making lists – it's about creating a clear roadmap for the people who will handle your affairs when you cannot. This includes documenting all your accounts, insurance policies, important passwords, and key contacts. When your loved ones need access to this information, it should be readily available, updated, and easy to handle. This is why our Life & Legacy Planning process begins with a financial organization, and then our ongoing Life & Legacy Planning service supports you to maintain your financial organization throughout your life, so it’s handled with as much ease as possible for the people you love when something happens to you. Step 2: Create a Lasting Message for Your Loved Ones When someone dies, their loved ones often wish they had one more conversation, one more chance to hear their loved one's voice or read their words. That's why recording a Life & Legacy Interview is part of our planning process. It’s truly one of the most meaningful gifts you can give the people you love, and who love you.  This message isn't just about saying goodbye – it's about sharing your values, hopes, and life lessons. Think about what you want future generations to know about your life journey.  What wisdom do you want to pass down? What family stories, or even recipes, should be preserved?  While you may think “generational wealth” is just about money, the truth is that people who are able to learn from the recorded history of past generations have true generational wealth that’s far greater and irreplaceable than any dollar ever could be. Your words will become a treasured part of your legacy, offering comfort and guidance long after you're gone. Step 3: Learn About Tax Planning Many people don't realize that proper estate planning can help minimize or eliminate taxes their loved ones might otherwise have to pay. Without planning, they could lose a significant portion of their inheritance to estate taxes, income taxes, or capital gains taxes.  Strategic tax planning isn't about avoiding your obligations – it's about ensuring more of your hard-earned assets go to the people you love rather than the government. Working with a trusted advisor who understands both estate and tax law can help you identify opportunities to protect your loved ones’ financial future. Step 4: Plan Your Final Farewell (and Your Last Days) While it might feel uncomfortable to think about your funeral, planning and paying for it in advance is one of the most loving things you can do for the people you love. When you're gone, they will be grieving. The last thing they need is to make difficult decisions about your funeral while trying to guess what you would have wanted. By planning ahead, you not only ensure your wishes are honored but you also protect the people you love from emotional overspending during a vulnerable time. You can choose and pay for exactly what you want, locking in today's prices and relieving your loved ones of this financial burden. Even more importantly, consider how you want to spend your last years, months, or even days and discuss that with the people who will be responsible for your care now. This could be a conversation we can help facilitate if bringing it up or even thinking about it alone feels too challenging or if you keep putting it off. This courageous conversation is one of the best gifts you can give to the people you love.  Step 5: Create a Comprehensive Life & Legacy Plan All these elements come together in our comprehensive Life & Legacy Planning process, which guides you to understand the law and how it will apply to your unique situation, considering your family dynamics and assets, so you can make educated and informed choices to ensure your loved ones stay out of court and out of conflict when something happens to you. This isn't just about creating legal documents – it's about creating a plan, maintaining it, and ensuring your loved ones know who to turn to when something happens to you.  When you create a Life & Legacy Plan with our office, it includes clear instructions about who gets what, who's in charge of what, and most importantly, how to find and access everything when needed. It also includes specific directives about what happens if you become incapacitated. In addition, you’ll have the opportunity to outline your memorial service, and we’ll support you to record a Life & Legacy Interview that your loved ones will cherish for the rest of their lives. The start of a new year is the perfect time to take these essential steps to protect the people you love. Don't wait until it's too late – the greatest gift you can give your loved ones is the gift of preparation and peace of mind. How We Help You Get Started We help you put these essential protections in place. Through our Life & Legacy Planning process, we'll guide you in creating a lasting message for your loved ones, implementing smart tax strategies, planning your final arrangements, getting your finances organized, and creating a comprehensive plan that ensures the people you love stay out of court and conflict. Most importantly, we'll help you make informed decisions that align with your values and wishes. So don’t delay! Let us help you start the new year by doing the right thing for your loved ones. Click here to schedule a complimentary 15-minute consultation to learn more.

When it comes to putting off or refusing to create an estate plan, your mind can concoct all sorts of rationalizations: “I won’t care because I’ll be dead,” “I’m too young,” “That won’t happen to me,” or “My family will know what to do.” But these thoughts all come from a mix of pride, denial, and above all, a lack of real education about estate planning and the consequences to your family of not planning. Once you understand exactly how planning is designed to work and what it protects against, you’ll realize there is no acceptable excuse for not having a plan. Indeed, the first step in creating a proper plan is to thoroughly understand the potential consequences of going without one. In the event of your death or incapacity, not having a plan could be incredibly traumatic and costly for both you and your family, who will be forced to deal with the mess you’ve left behind. While each estate and family are unique, here are some of the things most likely to happen to you and your loved ones if you fail to create a plan. 01  |  YOUR FAMILY WILL HAVE TO GO TO COURT If you don’t have a plan, or if you only have a will (yes, even with a will), you’re forcing your family to go through probate upon your death. Probate is the legal process for settling your estate, and even if you have a will, it’s notoriously slow, costly, and public. But with no plan at all, probate can be a true nightmare for your loved ones. Depending on the complexity of your estate, probate can take months, or even years, to complete. And like most court proceedings, probate can be expensive. In fact, once all of your debts, taxes, and court fees have been paid, there might be nothing left for anyone to inherit. And if there are any assets left, your family will likely have to pay hefty attorney’s fees and court costs in order to claim them. Yet, the most burdensome part of probate is the frustration and anxiety it can cause your loved ones. In addition to grieving your death, planning your funeral, and contacting everyone you’re close with, your family will be stuck dealing with a crowded court system that can be challenging to navigate even in the best of circumstances. Plus, the entire affair is open to the public, which can make things all the more arduous for those you leave behind, especially if the wrong people take an interest in your family’s affairs. That said, the expense and drama of the court system can be almost totally avoided with proper planning. Using a trust, for example, we can ensure that your assets pass directly to your family upon your death, without the need for any court intervention. As long as you have planned properly, just about everything can happen in the privacy of our office and on your family’s time. 02  |  YOU HAVE NO CONTROL OVER WHO INHERITS YOUR ASSETS If you die without a plan, the court will decide who inherits your assets, and this can lead to all sorts of problems. Who is entitled to your property is determined by our state’s intestate succession laws, which hinge largely upon whether you are married and if you have children. Spouses and children are given top priority, followed by your other closest living family members. If you’re single with no children, your assets typically go to your parents and siblings, and then more distant relatives if you have no living parents or siblings. If no living relatives can be located, your assets go to the state. But you can change all of this with a plan and ensure your assets pass the way you want. It’s important to note that state intestacy laws only apply to blood relatives, so unmarried partners and/or close friends would get nothing. If you want someone outside of your family to inherit your property, having a plan is an absolute must. If you’re married with children and die with no plan, it might seem like things would go fairly smoothly, but that’s not always the case. For example, you might be estranged from your kids or not trust them with money, but without a plan, state law controls who gets your assets, not you. Moreover, dying without a plan could also cause your surviving family members to get into an ugly court battle over who has the most right to your property. Or if you become incapacitated, your loved ones could even get into conflict over your medical care. You may think this would never happen to your loved ones, but we see families torn apart by it all the time, even when there’s little financial wealth involved. We can help you create a plan that handles your assets and your care in the exact manner you wish, taking into account all of your family dynamics, so your death or incapacity won’t be any more painful or expensive for your family than it needs to be. 03  |  YOU HAVE NO CONTROL OVER YOUR MEDICAL, FINANCIAL, OR LEGAL DECISIONS IN THE EVENT OF YOUR INCAPACITY Most people assume estate planning only comes into play when they die, but that’s dead wrong—pun fully intended. Although planning for your eventual death is a big part of the process, it’s just as important—if not more so—to plan for your potential incapacity due to accident or illness. If you become incapacitated and have no plan in place, your family would have to petition the court to appoint a guardian or conservator to manage your affairs. This process can be extremely costly, time consuming, and traumatic for everyone involved. In fact, incapacity can be a much greater burden for your loved ones than your death. We can help you put planning vehicles in place that grant the person(s) of your choice the immediate authority to make your medical, financial, and legal decisions for you in the event of your incapacity. We can also implement planning strategies that provide specific guidelines detailing how you want your medical care to be managed, including critical end-of-life decisions. 04  |  YOU HAVE NO CONTROL OVER WHO WILL RAISE YOUR CHILDREN If you’re the parent of minor children, the most devastating consequence of having no estate plan is what could happen to your kids in the event of your death or incapacity. Without a plan in place naming legal guardians for your kids, it will be left for a judge to decide who cares for your children. And this could cause major heartbreak not only for your children, but for your entire family. You’d like to think that a judge would select the best person to care for your kids, but it doesn’t always work out that way. Indeed, the judge could pick someone from your family you’d never want to raise them to adulthood. And if you don’t have any family, or the family you do have is deemed unfit, your children could be raised by total strangers. What’s more, if you have several relatives who want to care for your kids, they could end up fighting one another in court over who gets custody. This can get extremely ugly, as otherwise well-meaning family members fight one another for years, making their lawyers wealthy, while your kids are stuck in the middle. With this in mind, if you have minor children, your number-one planning priority should be naming legal guardians to care for your children if anything should happen to you. This is so critical, we’ve developed a comprehensive system called the Kids Protection Plan that guides you step-by-step through the process of creating the legal documents naming these guardians. Naming legal guardians won’t keep your family out of court, as a judge is always required to finalize the legal naming of guardians in the event of death or incapacity of parents. But if it’s important to you who raises your kids if you can’t, you need to give the judge clear direction. On top of that, you need to take action to keep your kids out of the care of strangers over the immediate term, while the authorities figure out what to do if you’re incapacitated or dead. We handle that in a Kids Protection Plan too. N o more excuses. Given the potentially dire consequences for both you and your family, you can’t afford to put off creating your estate plan any longer. As your attorney, we will guide you step-by-step through the planning process to ensure you’ve taken all the proper precautions to spare your loved ones from needless frustration, conflict, and expense. That said, the biggest benefit you stand to gain from putting a plan in place is the peace of mind that comes from knowing your loved ones will be provided and cared for no matter what happens to you. Don’t wait another day— contact us to schedule an appointment, so you can finally check this urgent task off your to-do list. Questions? E-mail attorney Lauren Kaplan at lauren@kaplanestatelaw.com .