Unless you’ve created a proper estate plan, when you die many of your assets must first pass through the court process known as probate before those assets can be distributed to your heirs. Like most court proceedings, probate can be time-consuming, costly, and open to the public, and because of this, avoiding probate—and keeping your family out of court—is a central goal of most estate plans. During probate, the court supervises a number of different legal actions, all of which are aimed at finalizing your affairs and settling your estate. Although we’ll discuss them more in-depth below, probate typically consists of the following processes: Determining the validity of your will (if you have one). Appointing an executor or administrator to manage the probate process and settle your estate. Locating and valuing all of your assets. Notifying & paying your creditors. Filing & paying your taxes. Distributing your assets to the appropriate beneficiaries. In most cases, going through all of these steps is a real pain for the people you love. It’s expensive, can take a long time, and be highly inconvenient, and sometimes, even downright messy. By implementing the right estate planning strategies, however, you can help your loved ones avoid probate all together—or at least make the process extremely simple for them. To spare your family from the time, cost, and stress inherent to probate, here in this two-part series, we’ll first explain how the probate process works and what it would entail for your loved ones, and then we’ll outline the different ways you can avoid probate with wise planning. When Probate is Required As mentioned previously, if you fail to put in place a proper estate plan, your assets must go through probate before they can be distributed to your heirs. In general, this includes those individuals who have no estate plan at all, those whose estate plan consists of a will alone, and those who have a will that’s deemed invalid by the court. It’s important to point out that even if you have a will in place, your loved ones will still be required to go through probate upon your death. Therefore, if you want to keep your family out of court and out of conflict when you die, you cannot rely solely on a will, and you’ll need to put in place additional estate planning vehicles, which we will cover in further detail later. If you die without a will, it’s known as dying intestate, and in such cases, probate is still required to pay your debts and distribute your assets. However, since you haven’t expressed how you wish your estate to be divided among your heirs, your assets will be distributed to your closest living relatives based on our state’s intestate succession laws. These laws typically give priority to spouses, children, and parents, followed by siblings and grandparents, and then more distant relatives. If no living heirs can be found, then your assets go to the state. Some states allow estates with a relatively low value to bypass probate and use an abbreviated process to settle the estate. Illinois law allows estates with a total value of less than $100,000 to skip probate (although this number may be increasing to $150,000). In those cases, beneficiaries can claim the estate’s assets using simpler legal actions, such as by filing an affidavit or other form. Additionally, when an individual’s debts exceed the value of their assets, or a person has no assets at all, probate is often not initiated, and the estate is settled using alternative legal processes. How Probate Works How probate plays out is largely determined by whether or not you had a valid will in place at the time of death. However, even in cases where no will exists, or the will is deemed invalid, the probate process is quite similar. Indeed, once the court appoints someone to oversee the probate process on your behalf, the process unfolds in a nearly identical manner, regardless if you had a will or not. 01 | AUTHENTICATING THE VALIDITY OF YOUR WILL: Following your death, your executor is responsible for filing your will and a Petition with the court, and this initiates the probate process. From there, the court must authenticate your will to ensure it was properly created and executed in accordance with state law, and this usually involves a court hearing. Notice of the hearing must be given to all of the beneficiaries named in your will, along with all potential heirs who would stand to inherit under state law in the absence of a will. This hearing gives these individuals the opportunity to contest the validity of your will in order to prevent the document from being admitted to probate. For example, someone might contest your will on the grounds that it was improperly executed (signed, witnessed, and/or notarized) as required by state law, or someone might claim that you were unduly influenced or coerced to change your will. If such a contest is successful, the court declares your will invalid, which effectively means the document never existed in the first place. 02 | APPOINTING THE EXECUTOR OR ADMINISTRATOR: If you created a will, the court must formally appoint the person you named in your will as your executor before they can legally act on your behalf. If you died without a will, the court will appoint someone—typically your closest living relative—to serve in this role, known as your personal representative or administrator. In some cases, the court might require your executor to post a bond before they can serve. The bond functions as an insurance policy to reimburse the estate in the event the executor makes a serious error during probate that financially damages the estate. 03 | LOCATING & VALUING YOUR ASSETS: Once probate begins, the executor must identify, locate, and take possession of all of your assets, so they can be appraised to determine the total value of your estate. This includes not only those assets listed in your will and other estate planning documents, but also those you may have not included in your estate plan. This is why keeping a regularly updated inventory of your assets is so important. Any assets the executor is unable to locate will end up in our state’s Department of Unclaimed Property. Across the U.S., there is more than $58 billion (yes, that’s billion with a ‘b’) of assets stuck in state Departments of Unclaimed Property. Fortunately, this is easy to prevent when you work with us. We will not only help you create a comprehensive asset inventory, we will make sure this inventory stays updated throughout your lifetime In the case of real estate, although the executor is not expected to actually move into your home or other residence, he or she is required to ensure that your mortgage, homeowners insurance, and property taxes are paid while probate is ongoing. These and all other debts can be paid from your estate. Once all of your assets have been located, the executor must determine their value, which is typically done using financial statements and/or appraisals. From there, the combined value of all of your assets is used to estimate the total value of your estate. 04 | NOTIFYING & PAYING YOUR CREDITORS: To ensure all of your outstanding debts are paid before your assets are distributed, the executor must notify all of your creditors of your death. In most states, any unknown creditors can be notified by publishing a death notice with your local newspaper. Creditors typically have a limited period of time—six months in Illinois—after being notified to make claims against your estate. The executor can challenge any creditor claims he or she considers invalid, and in turn, the creditor can petition the court to rule on whether the claim must be paid. From there, valid creditor claims are then paid. The executor will use your estate funds to pay all of your final bills, including any outstanding medical and funeral expenses. 05 | FILING & PAYING YOUR TAXES: In addition to paying all of your outstanding private debts, the executor is also responsible for filing and paying any outstanding taxes you owe to the government at the time of death. This includes personal income and capital-gains taxes, as well as state and federal estate taxes, if your estate is valuable enough to qualify. In Illinois, the estate tax exemption is currently set at $4 million. For those who exceed that threshold, there are several strategies you can use to reduce the size of your estate to avoid these taxes, if you plan ahead of time. Any taxes due are paid from estate funds. In some cases, this may require liquidating assets to raise the needed cash. At Kaplan Estate Law LLC, we will not only support you during your lifetime to implement tax-saving strategies to minimize your tax bill, but we will also work with your loved ones following your death in the same capacity to ensure the wealth and legacy you’ve built provides the maximum benefit to those you leave behind. 06 | DISTRIBUTION OF YOUR REMAINING ASSETS: Once the court confirms all of your debts and taxes have been paid—which typically requires the executor to file an accounting of all transactions he or she engaged in during the probate process—the executor can petition the court for authorization to distribute the remaining assets in your estate to the beneficiaries named in your will, or according to state intestate succession laws, if you didn’t have a will. Once all assets have been distributed, the executor must file a petition with the court to close probate. If all creditors and taxes have been paid, your assets have been distributed, and there are no other outstanding issues to be addressed, the court will issue an order formally closing the estate and terminating the executor’s appointment. Keep Your Family Out of Court and Out of Conflict At Kaplan Estate Law, one of our primary goals when creating your estate plan is to keep your family out of court and out of conflict no matter what happens to you. Yet, as you can see, if your family has to go through probate, your estate plan falls woefully short of that goal, leaving those you love most stuck in an unnecessary, expensive, time-consuming, and public court process. Fortunately, it’s easy for you to spare your family the burden of probate with proactive planning. Next week, we’ll look at the ways you can do just that in the second part of this series. Until then, if you haven’t put an estate plan in place or have one that would force your family to go through probate, contact us to schedule an initial consult. Next week, in part two, we’ll discuss the estate planning strategies that you can use to avoid the need for your loved ones to go through probate.

The massive tax legislation known as the "One Big Beautiful Bill"  (“OBBB”) became law on July 4, 2025, brings  sweeping changes that will affect nearly every American family. While much of the media attention has focused on the political drama surrounding its passage, what really matters is how these changes impact your family's financial security and estate planning needs. With nearly 900 pages of complex provisions, the new law extends many tax cuts, creates new deductions, and makes significant changes to healthcare and benefit programs. Understanding these changes isn't just about saving money on your taxes—it's about ensuring your loved ones’ long-term security and making sure your estate plan works when your loved ones need it most. The Big Changes That Affect Your Daily Life The new law brings several immediate changes that could impact your family's finances. Many of these provisions are temporary, which creates both opportunities and planning challenges that require careful attention. The new law creates several categories of benefits that could significantly impact your family's tax burden: Family Benefits: Child tax credit increases to $2,200 per child starting in 2026 New "Trump Accounts" for children born 2025-2028 with $1,000 government contribution and up to $5,000 annual family contributions for future education or home purchases Parent Plus student loan limits now capped at $65,000 per student, potentially affecting college funding strategies Worker Categories with Special Treatment: Tip earners can deduct up to $25,000 of tip income from federal taxes through 2028 Overtime workers get deductions up to $12,500 for individuals or $25,000 for married couples through 2028 Both benefits phase out at higher income levels and expire after 2028 Temporary Expense Relief: Car loan interest becomes deductible up to $10,000 annually for U.S.-made vehicles (2025-2028) State and local tax deduction increases from $10,000 to $40,000, though this benefit phases out for higher earners and expires after five years Seniors receive a new $6,000 deduction if they're 65 or older and meet income requirements, but this benefit only lasts through 2028. These temporary provisions create a complex web of expiring benefits that families must navigate carefully. Healthcare and Benefits: What's Changing Beyond tax changes, the new law significantly alters healthcare coverage and benefit programs in ways that could affect millions of families. These changes particularly impact older Americans and those who rely on government assistance programs. Several major program changes will affect how families access healthcare and benefits: Medicaid Changes (Starting Late 2026): Recipients ages 19-64 must work, volunteer, or attend school for 80+ hours monthly to maintain coverage Exceptions exist for caregivers of children under 14, but new administrative requirements could cause eligible people to lose coverage due to paperwork complications States may face budget pressures that could lead to further restrictions Food Assistance Program Changes: SNAP work requirements now apply to people up to age 64 (previously age 55) States must contribute 5-15% of SNAP benefit costs starting October 2027, potentially leading some states to restrict eligibility or withdraw from programs entirely Health Insurance Marketplace Changes: Enhanced tax credits for ACA coverage will expire, potentially increasing premium costs by an average of 75% New documentation requirements could make it harder for people to maintain coverage These changes create new vulnerabilities for families who might face unexpected job loss, health issues, or caregiving responsibilities. Your estate plan should account for these potential gaps in coverage and ensure your family has resources available during difficult transitions. Estate Planning in the New Reality The most significant estate planning change in the new law is the permanent increase of the federal estate tax exemption to $15 million per person, or $30 million for married couples. This means only about 350,000 American families—roughly one in every 400 households—will face federal estate taxes. However, this change doesn't make estate planning less important. In fact, the complexity and temporary nature of many provisions in the new law make comprehensive Life & Legacy Planning more crucial than ever. The law's many temporary provisions create planning challenges that traditional estate planning simply can't address. When tax benefits expire in 2028, families may face sudden changes in their financial situations. Without proper planning, these transitions could create unnecessary stress and financial hardship for your loved ones. Moreover, the law's focus on specific categories of workers and temporary benefits creates artificial incentives that may not reflect your family's long-term needs. A comprehensive Life & Legacy Plan helps you navigate these complexities while ensuring your fundamental goals—protecting your family and preserving your legacy—remain the priority. The new law also demonstrates how quickly and dramatically tax and benefit policies can change. What seems permanent today may be modified or eliminated tomorrow based on political and economic pressures. This reality makes it essential to have a plan that can adapt to changing circumstances while maintaining core protections for your family. Building Security in an Uncertain Environment Real protection for your family goes far beyond having a set of documents in place. Your loved ones need a comprehensive plan that considers both the legal aspects of transferring assets and the practical realities of daily life after you're gone. The complexity introduced by the new law makes this even more important. At Kaplan Estate Law, we use a process called Life & Legacy Planning. Life & Legacy Planning is so much more than creating documents. It's estate planning done the right way so that it will work for the people you love most when they need it to. Once you create a Life & Legacy Plan with me, your loved ones will know where to find important documents, how to access accounts, and what steps to take first. They will have clear instructions about everything from paying bills to handling your business interests. Your Next Steps The One Big Beautiful Bill creates both opportunities and challenges for American families. While some provisions offer immediate tax savings, the temporary nature of many benefits and the broader changes to healthcare and benefit programs require careful planning to protect your loved ones’ long-term security. At Kaplan Estate Law, I help you create a Life & Legacy Plan that works regardless of changing political winds or economic conditions. My process starts with a Life & Legacy Planning Session, where we'll discuss how these new laws affect your specific situation and what steps you can take to protect your family's future. Don't let the complexity of the new law overwhelm you or prevent you from taking action. The families who thrive through periods of change are those who plan ahead and work with a trusted advisor who understands both the opportunities and the risks, and is there to provide personal guidance and support for you and your loved ones. Click here to schedule a complimentary 15-minute discovery call to learn more and get started.

If you’re a parent, you've always strived to provide the best for your family, ensuring their well-being and securing their future. However, even the most well-intentioned plans can falter if you overlook the complexities of estate planning. Let's explore some common pitfalls that parents often encounter, then offer practical strategies to navigate them successfully.  Heads up before we dive in; I’ll provide some stories below that illustrate what happens when a family hasn’t created an estate plan or hasn’t updated it over time. The names of the people below are made up, but the scenarios I’ll describe are common.  Pitfall No. 1: Procrastination  As a parent, the weight of responsibility for your family's well-being often rests heavily on your shoulders. However, even the most well-intentioned plans can fail if you overlook the complexities of estate planning. One of the most significant pitfalls is procrastination, or postponing the process under the assumption that you have ample time or that your assets are currently too modest to warrant formal planning. But the truth is that estate planning is crucial for individuals of all ages and asset levels! Unexpected events can occur at any time, leaving your loved ones in a bad situation if you haven't properly documented your wishes. Take for example, John, a 45-year-old father of three, who put off creating a will, thinking he had decades ahead of him. You can’t really blame him, can you? Many of us are in the same boat. However, he passed away tragically and unexpectedly, leaving his family to deal with his affairs in the court process called probate. The probate process was lengthy, and his assets were frozen and unavailable for his kids until the court process played out. In addition, probate drained his assets, so there wasn’t as much to leave his kids in the end.  I doubt this is what John would have wanted. So parents, to avoid the procrastination trap, it's essential to approach estate planning with a sense of urgency. Start the process as soon as possible, and review your plan regularly to ensure it remains aligned with your evolving circumstances and family dynamics (keep reading for more information on how I can help!). Pitfall No. 2: Failing to Update Your Plan Over Time This brings us to another pitfall: failing to update your plan after significant life events, such as marriages, divorces, births, or deaths. Life is inherently dynamic, and your estate plan should reflect those changes. Your plan should reflect your life as closely as possible, otherwise it could become ineffective or even invalid. And if that happens, you end up like John, even if you already have an estate plan.  Updating your estate plan over time is crucial. So make a habit of reviewing your plan at least every three years, preferably annually, or whenever a major life event occurs. When you work with me, I will help you ensure your plan accurately reflects your current wishes and aligns with any changes in state or federal laws.  Pitfall No. 3: Not Communicating With Loved Ones Contrary to common belief, estate planning is not solely about legal documents, such as a Will, Trust or Power of Attorney. Documents are merely the byproduct of good estate planning. The real power of estate planning is in having open and honest communication with your loved ones. However, many fathers (and mothers) make the mistake of keeping their estate plans a closely guarded secret, leaving their families in the dark about their intentions and wishes. This lack of transparency can breed misunderstandings, conflicts, and resentments that can undermine the effectiveness of your plan and strain family relationships. Let’s look at David’s story for a greater understanding. David, a successful business owner and loving father, always assumed his oldest son would take over the family business after his passing. So David’s estate plan included a provision wherein his oldest son inherited the business. When David died, however, his son revealed that he had different career aspirations and didn’t want to run the business. This led to family conflict - because David didn’t have a “Plan B” in his estate plan.  As a result, the family had to go to probate court, spending lots of time, energy, attention, and money, to get the business transferred to the one family member who wanted to run the business. Had David discussed his wishes openly, the family could have addressed their concerns together and arrived at a mutually agreeable solution that would have saved them the unnecessary hassle of probate court. So what can you learn from David’s story? Share your wishes with your family members, explain your reasoning, and address any concerns they may have. This open dialogue can foster a deeper understanding and strengthen the bond between you and your loved ones. It also allows your loved ones to provide valuable insights and perspectives that can help refine and improve your plan. What a loving gift to give your family! Pitfall No. 4: Not Working With a Professional  The last pitfall I’ll address is going at it alone, or doing your plan cheaply online. As I pointed out above, estate planning is not just about creating a few documents and putting them away on a shelf until something happens. There’s much more to it.  Instead, work closely with an estate planning firm like ours, who can help you craft a plan that fits your unique family dynamics, wishes and assets, as well as keep in touch over time to ensure your plan is updated and works when you need it to. At Kaplan Estate Law, we support you with all this and more, including helping you structure your plan in a tax-efficient manner, minimizing the impact of taxes on your assets and ensuring your loved ones receive the maximum benefit from your estate.  I also help you address any unique circumstances within your family, such as a family business, a child with special needs or a family member with addiction issues, ensuring that your plan is tailored to meet the specific needs of your loved ones.  So dads, after reading this, I hope it’s clear that estate planning is a profound expression of your love and responsibility as a father. By taking action now, you can navigate the pitfalls and create a lasting legacy that transcends your lifetime. Remember, your knowledge and attention to detail today can shape the future of your loved ones for generations to come. How We Support You to Avoid These Common Pitfalls We understand that protecting your family goes far beyond just legal documentation. Our mission is to empower you to enshrine your hopes, values, and profound love for your children into a comprehensive plan that preserves your family's integrity for generations to come. We take the time to truly understand what family means to you—the struggles you overcame, the values you hold dear, the future you envision. And then we help you craft a tailored estate plan that meets your needs and stays updated over time. Book a call with our office to learn how we can support you, and by extension, your entire family. Simply click on the scheduling link here or email lauren@kaplanestatelaw.com .

Imagine this: You've built a business empire worth hundreds of millions of dollars, transformed a city's downtown area, and touched countless lives with your vision and generosity. Then, unexpectedly, you pass away—and nearly five years later, a will you may  have created suddenly appears. Meanwhile, your family has been battling creditors, former associates, and mounting legal fees in a probate nightmare that has cost millions and years to manage. This isn't the plot of a legal thriller—it's the real-life saga of Tony Hsieh, the former Zappos CEO who died in November 2020 at age 46. After years of his estate being managed under the assumption he died without a will, a document dated March 2015 mysteriously surfaced in February 2025. This surprising twist could completely upend the years of legal proceedings that have already occurred. The story serves as a powerful reminder of why proper estate planning, with regular reviews and updates, is critical no matter your age or wealth status. Let's explore what went wrong and how a Life & Legacy Plan could have prevented such chaos. The Perils of Traditional Estate Planning Even if the recently discovered will is deemed valid, it raises more questions than answers. According to recent news reports  the will was found among the belongings of Pir Muhammad, a man suffering from Alzheimer's disease who recently passed away. Some reviewing attorneys  have described the document as having "convoluted" language and an unusual structure, though we can't know the full circumstances of its creation. The will reportedly includes a no-contest clause directed at Hsieh's family members, meaning if any of them contest the will, they would receive nothing. It also designates charitable donations to major foundations and appoints executors that include Mr. Muhammad, whom many of Hsieh's close friends and associates claim they've never heard of. This situation highlights a critical mistake many people make: not having a comprehensive estate planning strategy that includes proper safeguards for document storage, communication with family members, regular updates, and a relationship with a trusted lawyer. While we don't know the specific circumstances of Hsieh's estate planning process, we do know that the outcome—a will surfacing years after death, held by someone unfamiliar to many close associates, and no lawyer who knew Hsieh and could speak to his wishes—created significant complications. A will can fail you and your loved ones when it: Isn’t part of a comprehensive estate plan; Doesn’t guide loved ones on what to do when something happens to you; Isn’t easily findable immediately after your death; Wasn’t part of a system for regular reviews and updates, to catch any potential problems before they arise; Isn’t part of a plan that references your assets, and is updated over time, as they change; and  Becomes outdated as life circumstances change, and so doesn’t work when you and your loved ones need to call on your plan. Have you ever thought about where your important documents are stored and who knows about them? How would your loved ones know what to do if something happened to you tomorrow? And can you be sure that your loved ones wouldn’t end up in court and conflict over something you could have easily taken care of?  The Cost of Poor Planning (or No Planning) As a result of poor planning, Hsieh's loved ones and business associates have been embroiled in legal battles for five years. The tech mogul's fortune, once estimated at over $500 million, has been subject to numerous legal claims, many based on handwritten notes or verbal agreements allegedly made during the last year of his life when reports indicate he was struggling with substance abuse and mental health issues. Without clear documentation of his wishes through proper estate planning and without a trusted legal advisor who can speak to Hsieh’s wishes, his legacy has been partially defined by courtroom disputes rather than the innovation and community-building he championed during his life. His family has had to manage complex business holdings and real estate assets without his guidance, while defending against claims from various parties. The financial burden of litigation is just one aspect of this tragedy. The emotional toll on family members, the time consumed by legal proceedings, and the uncertainty about honoring Hsieh's true intentions represent incalculable losses. And all of this might have been prevented with thorough and thoughtful estate planning. How important is it to you that the people you love be spared this kind of emotional and financial burden after you're gone? What steps have you taken, if any, to ensure your wishes will be clear and legally enforceable? Why Traditional Estate Planning Fails Traditional estate planning, i.e., documents you either draft yourself, your financial advisor drafts for you, or you pay a transactional attorney to create, often fails you and your loved ones because  the focus is on the documents themselves . Here’s what I mean. Many people think all you need to do is draft and sign a will and maybe a few other documents, like a health care directive and a power of attorney, and then you’re done. But, as we see in Hsieh’s case, that is rarely enough. The documents are a part of the estate plan, but they are not the entire estate plan. An effective estate plan, a Life & Legacy Plan, encompasses so much more information than is reflected in a will, health care directive, or power of attorney document.  A Life & Legacy Plan works by covering what happens to your assets after you die, but also things like: Instructions on where to find your plan documents; Guidance on how your plan works and how the documents fit together;  Instructions for the people you’ve named in your documents so they know what to do after you die; An updated inventory of all your assets so your loved ones know exactly where to find them and how to access them;  A system for ongoing and regular reviews of your plan;  Who your loved ones can turn to for support with the legal process while they’re grieving; and An ongoing relationship with your lawyer, who has systems and processes built into their business to get to know you over time.  These items aren’t typically covered in a will, trust, power of attorney, or health care directive, and that’s why traditional estate plans fail. Even the rich, like Hsieh, aren’t immune.   Why Life & Legacy Planning Works Our Life & Legacy Planning process helps you create an estate plan that won’t fail you and your loved ones. The Life & Legacy Planning process was designed to ensure that your loved ones don’t go through even a tiny fraction of what the Hsieh family is dealing with now. Here’s what it includes.   A Comprehensive Asset Inventory With Regular Updates I help you create and maintain a complete inventory of your assets—not just your financial holdings but your business interests, real estate, cryptocurrency, personal property, and even your intangible assets, like your values, insights, stories and experience, or content you’ve created. This inventory is regularly reviewed and updated to reflect changes so nothing is lost. Regular Plan Reviews and Updates Life changes, and your Life & Legacy Plan evolves with you. My plans include regular reviews with you to ensure your plan reflects changes in your business holdings, personal relationships, and wishes. This ongoing relationship could prevent a situation where a potentially outdated will suddenly appears years after death. Building a Relationship of Trust Perhaps most importantly, I build relationships with my clients AND their loved ones. Unlike the mystery surrounding Pir Muhammad and his role in Hsieh’s will, your loved ones would know exactly who I am, how to reach me, and what role I play in helping manage your affairs. This relationship extends to providing counsel during difficult times, such as incapacity or end-of-life planning. Take Action Today Are you ready to avoid the kind of chaos that's plagued Tony Hsieh's legacy? As your attorney, I help you create a Life & Legacy Plan that ensures your wishes are honored, your loved ones are cared for, and your assets are preserved for the people you want, in the way you want. Click here to schedule a complimentary 15-minute consultation to learn how I can help you create your Life & Legacy Plan today.

Imagine accidentally throwing away $700 million. While it sounds like the plot of a movie, this nightmare scenario has become a reality for James Howells, a computer engineer from Wales, who has now spent more than a decade fighting to recover a discarded hard drive containing the private key to his Bitcoin fortune. Here’s what happened. In 2013, Howells mistakenly discarded a hard drive  during an office cleanup. What he didn't realize until too late was that this particular drive contained the only copy of his private key to access 8,000 Bitcoin (BTC)  he had mined years earlier. When he realized his error months later, the cryptocurrency had already skyrocketed in value. Today, those 8,000 BTC would be worth approximately $700 million, and as much as $848,000 at the BTC all-time high thus far. It’s very likely that Howells’ lost BTC will be worth over $1 billion at some point. For over a decade, Howells has tried everything to recover his lost fortune – begging local officials for permission to search the landfill, offering to share the recovered BTC with the city, taking his case to court, and even proposing to buy the entire landfill. Despite these efforts, the Newport City Council has consistently refused his requests, and British courts have ruled against him, stating there is "no realistic prospect of success." As this article is being published, Howell has said he will file a case with the European Convention on Human Rights.   This cautionary tale highlights a crucial lesson for everyone who owns digital currency, and even those who do not: If you don’t know what you own, where it is, and how to find it, your assets could be lost when you die . And, especially if you have digital assets, losing what you have can be a catastrophic, unrecoverable loss. Digital assets are especially vulnerable to loss, if they aren’t inventoried and included with your estate plan.  The Modern Challenge of Asset Tracking While most of us won't lose hundreds of millions in cryptocurrency, many people face similar challenges on a smaller scale. Our assets (only part of which are financial) are increasingly scattered and less tangible in today's digital world. For instance, you may have: Cryptocurrency in various digital wallets Digital photos and personal archives stored across multiple cloud services  Online financial accounts with different institutions Insurance policies that are accessed through your employer’s online benefits platform Frequent flyer miles and reward points worth thousands of dollars How are you keeping track of these assets? Are you sure you know exactly what you have and where it is? Howells wasn’t.  Now think about this: If Howells could  lose an extremely valuable asset while he’s alive, how will your loved ones know where your assets are after you’re gone? Or, how will they even know what you have?  If you don’t know the answer, the ramifications can be considerable.  The Real Consequences of Poor Asset Tracking  Across the U.S., approximately $60 billion in known assets have been lost or forgotten about. Bank accounts, insurance policies, retirement funds, and other financial assets regularly become "lost" when people move, change contact information, or simply forget about accounts. And that doesn’t even count the billions or, one day, trillions of lost digital assets that aren’t yet being tracked as lost. If you don’t have an up-to-date inventory of all your assets, here’s what’s likely to happen:  Assets may be permanently lost or forgotten Your loved ones may never even know these resources existed Court processes like probate become longer and more expensive Family conflict can arise when assets are discovered later Digital assets may become inaccessible without proper password management Sentimental items might be discarded or lost during transitions While it’s possible some of your assets could end up in a landfill like Howells’ BTC  hard drive, what’s more likely to happen is they get turned over to the government. Each state has a Department of Unclaimed Property for this purpose. And for you or your loved ones to recover the lost asset, you have to go through a process that is time-consuming, tedious - and may even result in failure.   As an attorney, I've seen families devastated not just by the financial impact of lost assets but by the emotional toll when meaningful items disappear or become inaccessible after a loved one's passing. This happens if a person has no estate plan, an outdated estate plan, or a plan that’s just a set of legal documents. There is a better way.  The Life & Legacy Planning Solution The traditional way to do estate planning is to draft a will, financial power of attorney, health care power of attorney, and maybe a trust. Then, you “set it and forget it,” storing your documents in a drawer and never looking at them again. When “planning” is done this way, it often results in court, conflict, lost assets, and even irreparably broken relationships among those you love most. With our Life & Legacy Process, we go beyond mere document drafting and create not only legal documents, but all the other facets that need to be in place for your plan to work, including a comprehensive asset inventory as a foundational element. Here are just a few highlights of the Life & Legacy Planning process: Personal Resource Map Right from the get-go, I help you create a detailed inventory of everything you own – from real estate and bank accounts to digital assets and family heirlooms. This comprehensive map ensures nothing is overlooked or forgotten. I believe this is so important that I’ll support you to do this whether you decide to work with me or not.  Regular Reviews and Updates Life changes, and so do your assets. My process includes regular reviews to ensure your inventory stays current as you acquire new assets or sell existing ones.  Secure Documentation I provide secure systems for documenting access information for your digital assets, ensuring your designated representatives can access what they need when the time comes. Clear Communication Plan I guide you in communicating with loved ones about what you have and where it's located, without compromising security during your lifetime. I’ll also be there for your loved ones after you’re gone, so they know what to do. Peace of Mind in a Complex World James Howells' story is extreme but serves as a powerful reminder that in today's complex world, knowing what you have and ensuring it's properly documented is more important than ever. As your trusted attorney, I don't just draft documents; I assist you in making informed and empowered decisions about life and death for yourself and the people you love. That's why I offer a Life & Legacy Planning Session , during which you will get more financially organized than you've ever been before and make all the best choices for the people you love. Click here to schedule a complimentary 15-minute consultation to learn more and get started today.

The recent passing of legendary actor Gene Hackman has revealed a complicated estate situation that serves as a powerful warning for everyone - married couples especially - regardless of your net worth.  Whether you have significant assets or just want to ensure your wishes are honored during your lifetime and you don’t leave a mess of open loops, creditors, and pain for your loved ones, getting your estate plan done right so it doesn’t fail when the people you love need it is the answer. The right estate planning process, which I call Life & Legacy Planning, can save your loved ones from the cost of failed planning. In this article, we will look at the lessons from the Hackman family estate plan, and I’ll explore the importance of having a well-structured Life & Legacy plan, the risks of outdated documents, and key strategies to prevent inheritance disputes. Let's first explore what’s happened. What Happened Gene Hackman, the two-time Academy Award winner known for films like The French Connection and Unforgiven, and his wife Betsy Arakawa were recently found deceased in their Santa Fe, New Mexico home. Court documents reportedly  reveal that Arakawa, 65, died on February 11 from Hantavirus pulmonary syndrome, a rare disease contracted through contact with mouse droppings. Hackman, who was 95, died a week later from natural causes related to heart disease and complications from Alzheimer's disease. The couple's wills, both dated from 2005, show they each intended to leave their estates to one another. Hackman's will named Arakawa as the personal representative of his estate and the recipient of his "entire estate" as successor trustee of the Gene Hackman Living Trust. Similarly, Arakawa's will specified that her estate would go to the trustee of Hackman's trust if he outlived her. Unlike many couples, who leave their assets to each other and don’t have a plan for what happens if they die together or close together, the Hackmans had contingency plans in place. Since both Hackman and Arakawa are deceased, Julia L. Peters, who was named as the second successor personal representative in Hackman's will, has taken over the duties of managing both estates. The first successor named in the wills, attorney Michael G. Sutin, is also deceased. Court documents show that Peters, who works for a trust company, was appointed as the personal representative for both estates in March 2025. Peters filed appropriate paperwork to admit Hackman's will to probate and begin the administration process. The Simultaneous Death Problem Most Couples Ignore Most married couples do exactly what Hackman and Arakawa did—they name each other as the primary beneficiary on everything: wills, trusts, life insurance policies, retirement accounts, and more. But what happens if you and your spouse die together or a short time apart? Chaos, delays, and assets potentially going to unintended beneficiaries can result. Not to mention, your loved ones will almost certainly have to go to court, which is set up for conflict and can be very expensive. The best practice is to name backups, or contingent, beneficiaries so that your plan works.  Arakawa seemed to have considered this possibility in her own estate planning. Reports indicate her will contained a provision that if she and Hackman died within 90 days of each other, her assets would go to a charitable trust, as she had no children of her own.  Blended Family Considerations If you have a blended family, things can get complicated. With Arakawa and Hackman dying within days of each other, it may be difficult to sort out who the beneficiaries are. His plan says she receives his assets, and her plan says he receives her assets. This creates a loop that needs to be sorted out. If Arakawa’s assets go to a charitable trust instead of to Hackman’s estate, Hackman’s kids may receive nothing from her estate.  Hackman's will acknowledges his three adult children from his previous marriage to Faye Maltese: Christopher Hackman, Elizabeth Hackman, and Leslie Allen. Court records show that notices regarding Peters's appointment as personal representative were sent to all three children in March 2025.  While the publicly available documents don't reveal how Hackman's assets will ultimately be distributed among beneficiaries, Peters noted in court filings that after specific bequests to "identified beneficiaries," the remainder of Hackman's trust will be "distributed in accordance with the desires of Gene Hackman as expressed in the trust document." The trust documents themselves have not been made public, which is one of many reasons you likely want a trust to govern the distribution of your assets at the time of your death. The Life & Legacy Planning Difference The Hackman case demonstrates several important estate planning principles that anyone, regardless of net worth, can learn from. I create plans for clients, called Life & Legacy Plans, which means your plan works when you and your loved ones need it to. All my Life & Legacy plans are comprehensive and customized to fit your particular family dynamics, your assets, and your wishes. When you work with me, these are just a few of the strategies we can use that may make sense for you: 1. Name Contingent Beneficiaries for Everything For every asset and in every document, we’ll name not just primary beneficiaries but also contingent beneficiaries. This includes your will, trust, life insurance, retirement accounts, transfer-on-death accounts, and any other assets with beneficiary designations. When you work with me, we start by inventorying all your assets so nothing gets missed, and all accounts that need beneficiaries are handled properly.  2. Include Simultaneous Death Provisions If you’re married, we’ll include provisions in your will and trust that specifically address what happens if you and your spouse die simultaneously or within a short time of each other. The standard "120-hour rule" in many state laws may not be sufficient for your needs. We’ll also address what happens if any beneficiary you’ve named dies before you. 3. Create a Revocable Living Trust A properly structured revocable living trust can provide more precise instructions for various scenarios and is often more flexible than wills are. Trusts also offer privacy, can save money on taxes, and can bypass the probate process, keeping your loved ones out of conflict and saving them time and money. 4. Include Special Provisions for Blended Families If yours is a blended family, we will include customized strategies so your children are never accidentally disinherited.  5. Review and Update Regularly Hackman's will was reportedly last updated nearly 20 years before his death—a dangerously long period that would put anyone’s estate plan at risk. If you want to ensure your plan works, it must reflect your life as closely as possible when something happens to you, whether death or incapacity. Thus, it’s imperative that your plan is reviewed at least every 3 years and after any major life event such as the death of a beneficiary, marriage, divorce, or birth. Even if you haven’t had a significant life change, your assets may change - you inherit a significant sum, or instance - or the law could change. Any of these scenarios could put your plan at risk of failing. Through our Life & Legacy Planning process, we include reviews at least every 3 years. It’s built into my system for every client. This means that I take the burden off you so you don’t have to remember to review and update your plan. We can catch vulnerabilities in your plan before they become problems for your loved ones. Your Next Step As the Hackman case illustrates, effective estate planning isn't just about creating documents—it's about creating a comprehensive plan that anticipates any scenario, stays updated over time, and protects all the people you care about.  At Kaplan Estate Law LLC, I support you to create a Life & Legacy Plan that works when you need it to work. That’s why I start with a Life & Legacy Planning Session , where we'll discuss not just who gets what but what happens in complex situations like simultaneous deaths, incapacity, or beneficiaries who predecease you. We’ll also discuss what will work for your unique family situation, whether you're part of a blended family, have children with special needs, or face other circumstances that require specialized planning. Don't leave your legacy to chance or create accidental disinheritances through incomplete planning. Together, we can create a plan that truly protects you and everyone you love most. To get started, all you need to do is click here to schedule a complimentary 15-minute consult call.

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 .

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.

The holidays are right around the corner, which means more time to gather with family and relatives than any other time of the year. If you’ve been meaning to talk to your family about money, inheritance, end-of-life decisions, estate planning, and creating a plan for your whole family’s wealth - now and in the future - having everyone in the same room is ideal. But asking your relatives how they want their assets handled when they die or if they become incapacitated might not go over well while opening presents or carving a turkey. To keep your family from feeling blindsided and to make the most of your conversation, consider the following three tips. 01 | Share Your Intention Ahead of Time Many people feel uncomfortable talking about their finances. They may have grown up in a family where money talk was considered taboo or perhaps they simply don’t want the details of their finances to create family tension. Some people also feel like talking about estate planning and making a plan for their money is plain bad luck (but we’re happy to report that planning for your assets does not increase your chance of dying, as you’ve already got a 100% chance of death, but it does increase your chances of leaving behind a happy, well-adjusted family). To help your loved ones feel at ease, don’t bring money talk up for the first time while the family is gathered around the TV watching football. Instead, approach the topic weeks ahead of time if possible. If you have regular visits or phone calls with your loved ones, let them know you’ve been thinking about creating a plan for your own money and the care of the family in case something happens to you. Casually mentioning that it’s on your mind will help plant the seed for a future conversation with your loved ones and likely get them thinking about their own plan or lack of a plan. As your family gathering approaches, bring up the subject again, this time with more intention and detail. Consider asking the host of your family gatherings, whether it’s your sibling, parent, or adult child when the best time would be to have an all-family conversation about money for 90 minutes. Schedule it and let everyone know that you’ve got something meaningful planned. If the host pushes back against the idea, respond with curiosity about their experience, what they feel apprehensive about, and if there is a way that you could mitigate their apprehension perhaps by speaking with other family members in advance. If you’ve already completed your own planning, use your experience as a springboard for the conversation. More on this below. 02 | Set Aside a Time and Place to Talk Discussing money while opening Christmas gifts isn’t likely to have the results you want. Your best bet is to schedule a time to gather to talk without distractions or interruptions. Be upfront with your family about the meeting’s purpose so no one is taken by surprise and so they come prepared for the talk. Choose a setting that’s comfortable, quiet, and private. The more relaxed everyone is, the more likely they’ll be comfortable opening up. Begin by sharing the context of why it’s important to you that your family begin having conversations about money, life and death. You may even want to share that the topic is uncomfortable for you, but that it’s important enough that you are willing to be uncomfortable because you know that these conversations can bring your family closer together, create more family resilience, and ensure you are all financially well-cared for, always. Finally, as part of setting context, set a start and stop time for the conversation. Remember, the goal is to simply get the conversation started, not work out all of the details or dollar amounts, so don’t expect this to be the one and only conversation you have – its a start. 03 | Share Your Planning Experience If you’ve already created your own plan, and it included an inventory of your assets, a look at what is enough, and what would happen to it all when something happens to you (which is what we do during our first Planning Session with you), you can start by explaining how you felt during the process, how easy it was, and how you feel now knowing that your assets and loved ones will be cared for the way you want if something happens to you. If you’ve worked with us describe how the process unfolded and how we supported you to create a plan designed for your unique wishes and needs. Share any concerns or doubts you initially had about planning and how we worked with you to address them. If you have loved ones who’ve yet to do any planning and have doubts about its usefulness, empathize with them in a supportive and understanding way, and share your own journey learning the benefits of planning for your money and your wishes. If you haven’t created a plan yet, or have doubts about a plan you created with another attorney, be open about why you want to create a plan for your life and death, such as a desire to avoid family conflict, to ensure that a child, disabled relative, or senior parent is cared for in the future, or to build generational wealth and a legacy for your family. Focus on the benefits that planning will have for both your immediate family and your extended family as a whole. Bringing Families Together Talking to loved ones about money and estate planning can be difficult, but as your attorney, we can guide and support you in having these intimate discussions with your loved ones. When done right, planning can put your life and relationships into a much clearer focus and offer peace of mind knowing that your assets will be protected and that the people you love most will be provided for no matter what. If you’ve already created a plan with us, be sure to share our library of blog resources with your loved ones. If you haven’t created your own estate plan, doing so before you talk with your family can help your loved ones be more open to the idea and can help them see the incredible benefit of planning from one of their own family members. Schedule a complimentary call with us or email lauren@kaplanestatelaw.com with questions. Have a happy holiday season!

With Thanksgiving approaching, many families are busy planning menus, coordinating travel, and preparing for the big feast. While the turkey, stuffing, and pumpkin pie are important (and delicious) traditions, this holiday offers something even more valuable—a perfect opportunity to think about, discuss, and preserve your family's legacy.  In this article, you'll discover practical ways to capture family stories during your holiday gathering, learn how to start meaningful legacy conversations without awkwardness and understand how to transform these precious moments into a comprehensive Life & Legacy Plan that protects your family's values and assets for generations to come. This year, consider using your Thanksgiving gathering as a springboard for the meaningful conversations that can shape your family's future. The Heart of Legacy Planning: More Than Just Money When most people think about legacy planning, they often focus solely on financial assets. But true legacy planning encompasses much more. It's about preserving your family's stories, values, traditions, and the wisdom gained through generations. After working with families to support them with their estate planning and being there at the end of life, I’ve learned that these are the things that matter most. Values, insights, stories, and experiences, plus sentimental items, are almost always more important to families than financial assets, though, of course, money matters as well.  Those moments around the Thanksgiving table, sharing old family recipes, telling stories about ancestors, or discussing what matters most to your family, are the building blocks of a meaningful legacy. The Thanksgiving holiday, with its focus on gratitude and family togetherness, provides an ideal setting to explore these deeper aspects of your legacy.  Using Holiday Gatherings to Plan for the Future With a little planning, Thanksgiving can be a great time to discuss the future. These conversations don't have to be formal or heavy—they can emerge naturally from your holiday interactions: Talk About Family Values: When expressing gratitude (a Thanksgiving tradition), encourage family members to share what they value most about being part of the family. These discussions can help inform how you structure your estate plan to reflect and perpetuate these values. Discuss Family Philanthropy: If giving back is important to your family, use this time to talk about causes that matter to everyone. This can lead to meaningful discussions about charitable giving and how to incorporate it into your legacy plan. Address Family Dynamics: Holiday gatherings often reveal family dynamics that should be considered in your estate planning. Who are the peacemakers? Who might need additional support? Understanding these dynamics can help you create a plan that promotes family harmony rather than conflict. Bring Up Your Own Planning: If you’ve recently completed your own estate planning process, or plan to before the end of the year, or early next year, this is a great time to bring up your plans. Understanding your family's values, philanthropic interests, and dynamics isn't just about having nice conversations—it's about gathering crucial information that will help you create a Life & Legacy Plan that truly serves your family and preserves harmony for generations to come. For more information about Life & Legacy Planning, book a call with u s . Capturing Your Family's Story Thanksgiving can encourage storytelling. As families gather and reminisce, precious memories and important family history often emerge. But without intentional effort to preserve these stories, they can be lost to time. Here are some ways to capture these valuable moments: Record Your Family's Food Heritage: That special stuffing recipe from your grandmother isn't just about ingredients—it's about family history. Document not just the recipe but the story behind it. Why is it important? How has it been adapted over generations? Who taught it to whom? If your relative is still alive, consider asking them to write out the recipe with important notes. Having something in their handwriting can be very special for the younger generations. Create a Family Interview Tradition:  Designate time after dinner for family interviews. Have younger family members ask older ones about their childhood, important life lessons, or family history. Record these conversations (with permission) using your phone or video camera. It doesn’t have to be complicated. Share Family Artifacts: Bring out old family photos, letters, or heirlooms. These physical items often spark stories and discussions about family history and values. Use these moments to explain why certain items are meaningful and what they represent in your family's journey. My Life & Legacy Planning process includes a legacy interview, so your family’s traditions are captured. How We Help You Create a Lasting Legacy While Thanksgiving conversations are valuable for legacy planning, they're just the beginning. To truly protect your family's legacy and ensure your wishes are carried out, you need professional guidance and support to create a comprehensive Life & Legacy Plan. Our Life & Legacy Planning process goes beyond traditional estate planning to capture not just your assets, but your values, wisdom, and family story. Take the first step toward preserving your family's legacy. Click here to schedule a complimentary 15-minute consultation and learn how we can help.