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Making important decisions for aging parents can be a challenging task, but helping them obtain power of attorney (POA) documents can provide peace of mind and clarity in times of need. POAs enable individuals to make crucial decisions on behalf of their parents, such as managing their finances or making medical decisions, when they are unable to do so themselves due to age or illness. While it may be difficult to approach this topic with your parents, having these discussions early on can help ensure that you follow their wishes if their health changes over time. Starting the conversation with empathy and understanding can make all the difference. In this article, we'll explore how to obtain power of attorney for elderly parents and provide helpful tips on how to approach these discussions with warmth and care. After all, our ultimate goal is to ensure that your aging parents receive the best possible care and support. What’s a POA? According to the American Bar Association, POAs are legal documents, which vary between states, that provide a person, or several individuals, with the power to perform actions on behalf of someone else. The individual with a POA is an agent, whereas the principal refers to the person who is having their affairs managed by other individuals. Agents can only perform actions outlined within the POA document. Moreover, if someone agrees to a POA, they can still make their own decisions, providing they can still do so coherently. This means the agent cannot make exclusive decisions on behalf of the principal. POA Types Below is more information regarding the different POA types: General: For this POA, the agent can manage the principal’s affairs for a specific period, and the principal may revoke this at any point. These automatically finish if the principal becomes incapacitated and are common when an individual can still see to their affairs but prefers that someone else does this for them. Durable: These POAs continue after the principal becomes incapacitated and are more common when someone cannot manage their affairs. They can conclude in many ways, including once the principal dies or if the agent completes the conditions within the POA document. Springing: The terms in this POA do not take effect unless the principal becomes incapacitated. For this POA, the principal remains in control of their affairs until they lose capacity. Medical: These POAs allow agents to make the principal’s medical decisions. They last until the principal is competent and might also expire after a certain period mentioned in the document. Limited: These limit the agent’s ability to make decisions regarding certain tasks as outlined in the POA document, such as paying bills or selling a house. Limited POAs are usually temporary and end when the principal loses capacity. Why and When to Consider a POA For Your Aging Parents Here are the common reasons why individuals may consider getting a POA: Finance issues: POAs enable individuals to continue paying their parents’ bills and manage their finances when their parents struggle to fulfill these obligations. Serious illness: Having a POA for an elderly parent can be helpful as it allows them to focus on getting better and reduces the stresses associated with managing their affairs. Memory issues: Individuals commonly obtain a POA to manage their parents’ affairs if they develop dementia. It is helpful to note that it is necessary to obtain the POA before the parent loses their capacity. Surgery: When an elderly parent is undergoing surgery, it might be a good idea to obtain a POA so individuals can make decisions on their parents’ behalf and manage their affairs until they have fully recovered. Frequent travel: Some elderly parents like to travel frequently, so POAs can be useful here for ensuring their affairs remain in order while they are away. How Do I Help My Parents Choose a POA? When helping your parents consider who to name as POA, there are several things to keep in mind. The most crucial factor is trust - they must choose someone they can rely on to make decisions in their parents' best interests and follow their wishes. While family members are often chosen for this role, it's important to consider whether they are the best fit. If you think an objective outsider may be better suited to the task, such as a lawyer, accountant, or financial institution, this is also an option, although it may come with additional costs. Before agreeing to be a POA for your parents, it's essential to have a thorough discussion with them to understand their needs and preferences. Different types of POAs have different levels of responsibility, and it's important to clarify what your parents expect from you. If your parents need help with medical decisions, for example, this will require more involvement than if they only need assistance with financial decisions. Finally, it's essential to understand the financial implications of becoming a POA. You will need to keep your finances separate from your parents' and be prepared to justify any decisions you make to avoid legal issues. Helping your parents choose a POA is a significant decision, and it's essential to approach it with care and sensitivity. By having open and honest discussions and seeking objective advice, you can ensure that your parents receive the best possible care and support. Contact Us To Learn More About Obtaining A Power Of Attorney For Your Elderly Parents If you have elderly parents, it's understandable that discussing power of attorney (POA) may be a sensitive topic. However, starting these discussions as early as possible can bring peace of mind and clarity in the future. When approaching these conversations, it's important to consider your parents' health and well-being. Let them know that you're there to support them and that you will only use the POA powers if it's absolutely necessary. It's a promise that can help reassure your parents that you have their best interests at heart. Additionally, it may be helpful to seek the guidance of an experienced estate planning attorney. They can provide objective advice and alleviate any concerns that your parents may have. We understand that this is a difficult process, but we're here to help. Please feel free to contact us today to learn more about how we can assist you and your family or e-mail lauren@kaplanestatelaw.com.

If you have preferences about what happens to your digital footprint after your death, you need to take action. Otherwise, your online legacy will be determined for you—and not by you. If you have any online accounts, such as Gmail, Facebook, Instagram, LinkedIn, Apple, or Amazon, you have a digital legacy, and that legacy is yours to preserve or lose. Following your death, unless you’ve planned ahead, some of your online accounts will survive indefinitely, while others automatically expire after a period of inactivity, and still others have specific processes that let you give family and friends the ability to access and posthumously manage your accounts. In part one and two of this series, we covered the processes that Facebook, Google, Instagram, and Apple offer to manage your digital accounts following your death. Here in part three, we’ll conclude this series by covering the most effective methods for including digital assets in your estate plan. 5 Steps For Including Digital Assets In Your Estate Plan If you’re like most people, you likely own numerous digital assets, some of which may have significant monetary value, and others which have purely sentimental value. You may even have some digital assets that you’d prefer your family not access at all when you pass away. To ensure these assets are managed in exactly the way you want, take the following five steps to include this digital property in your estate plan. While many of these tasks you can do yourself, you’ll definitely want to consult with us to ensure your estate plan is properly prepared and works exactly as you intend. 01 – Create A Detailed Asset Inventory, With Access Instructions Start by creating a list of all digital assets you currently own. Then, for each asset, provide detailed information about where the asset is stored and how it can be accessed, including all of the relevant login information and passwords. If you have numerous different accounts, password manager programs, such as LastPass, can simplify this effort. If you own cryptocurrency, it’s essential that you prepare detailed instructions about how to access it, and ensure that one or more people you trust are aware that you own crypto and know how to find your instructions. Additionally, accessing cryptocurrency often requires complex user identification data and private keys. Moreover, to effectively manage these assets., the person you choose to control your crypto after your death will need to know how to use a variety of digital tools, such as online wallets, digital exchanges, and other programs. Given this, leaving a detailed “How To” guide can be an ideal way to ensure your loved ones can access your digital currency with minimal hassle. After you’ve created your inventory and access instructions, store these documents in a secure location, with your other estate planning documents, and ensure your fiduciary (executor or trustee) and lawyer know how to access these documents should something happen to you. Finally, back up any digital assets stored in the cloud to a computer, flash drive, or other physical device to make them easier to manage. And remember to update your digital asset inventory regularly to account for any new digital property you acquire or accounts you close. 02 – Add Your Digital Assets To Your Estate Plan The next step is adding your digital assets to your estate plan. As with other assets, you’ll typically pass your digital property to your loved ones through either a will or a revocable living trust. Meet with us to determine which estate planning vehicles are best suited for your particular assets and situation. From there, specify in your will or trust the person, or persons, you want to inherit each asset, and include detailed instructions for how you’d like each asset managed after your death, if that’s something you’re interested in. On the other hand, some assets might have no value to your family or be something you don’t want them to inherit or even access, so you should specify that those accounts be closed or deleted by your fiduciary. One thing you should NEVER do is provide the account information, logins, or passwords in your planning documents, where others might read them. This is especially true for wills, which become part of the public record upon your death. For maximum security, keep this sensitive information in a secure place, and let your fiduciary know how to find and use it. To make securing and managing your digital assets easier, consider using a digital management service, such as Directive Communication Systems, instead of trying to do everything yourself. It’s also a good idea to include terms in your estate plan allowing your fiduciary to hire an IT consultant if necessary, especially if your fiduciary doesn’t have much technical experience, or if you have particularly valuable digital property. Having a consultant available can enhance your fiduciary’s ability to manage and troubleshoot any challenges that come up. Alternatively, you can designate a separate co-fiduciary just to manage your digital assets. Known as a digital executor, this individual is specifically tasked with managing your digital assets upon your death. If you have a lot of digital property or you own highly encrypted digital assets, like cryptocurrency, this option can be an optimal solution for safeguarding your online property. 03 – Limit Access Your estate plan also needs to include instructions for your fiduciary about the specific level of access you want him or her to have. For example, do you want your executor or trustee to be able to read all your emails, texts, and social media posts before deleting them or passing them to your heirs? If there are any assets you want to limit and/or restrict access to, we can help you add the necessary terms to your estate plan to ensure your wishes will be honored and your privacy protected. 04 – Include Relevant Hardware Your estate plan should also include provisions for passing on any physical devices—smartphones, computers, tablets, flash drives—on which your digital assets are stored. Having this equipment will make it easier for your fiduciary to manage your online assets. And since the data contained on such hardware can be wiped clean, you can even leave this gear to someone other than the person who inherits the data stored on the devices. 05 – Check Service Providers’ Access Authorization Tools Review the terms and conditions for each of your online accounts and web-based service providers for how they handle your data after death. As discussed in the first two parts of this series, some platforms have features allowing you to give your family and friends the ability to access, manage, and delete your accounts after your death. If such functions are offered, use them to document the individual(s) you want to access and manage these accounts. Just make certain those you named to inherit your digital assets using the providers’ tools match the beneficiaries named in your estate plan. If not, the provider will probably give priority access to the person named with its tool, not your estate plan. Adapt Your Estate Plan To The Evolving Digital Universe As technology continues to evolve, it’s essential to adapt your estate plan to keep pace with these changes. As your attorney, we are aware of just how valuable your digital property can be, and our Life & Legacy Planning Process is designed to ensure all of your assets—digital or otherwise—are protected, preserved, and passed on seamlessly to your loved ones in the event of your death or incapacity. Furthermore, we can ensure you have the maximum level of privacy, and you stay in full compliance with the latest laws governing the ever-changing digital universe. Contact us today or e-mail lauren@kaplanestatelaw.com to get started.

If you have preferences about what happens to your digital footprint after your death, you need to take action. Otherwise, your online legacy will be determined for you—and not by you. If you have any online accounts, such as Gmail, Facebook, Instagram, LinkedIn, Apple, or Amazon, you have a digital legacy, and that legacy is yours to preserve or lose. Following your death, unless you’ve planned ahead, some of your online accounts will survive indefinitely, while others automatically expire after a period of inactivity, and still others have specific processes that let you give family and friends the ability to access and posthumously manage your accounts. Last week, in part one of this series, we covered the processes that Facebook and Google have in place to manage your digital accounts following your death. Here in part two, we’ll continue our discussion, covering how Instagram and Apple’s collection of online platforms handle your accounts once you log off for the final time. Instagram Given that Instagram is owned by Facebook, the photo and video-sharing social media platform’s processes for handling your account after your death are similar—but not entirely the same—as Facebook’s. As a reminder, Facebook allows you to name a legacy contact to handle your death, and Instagram gives you two options for managing your account after death: You can either have your account memorialized, or you can have it deleted. However, it’s your family—not you—that has the final say. This makes it all the more important that your loved ones are well-aware of your wishes for how you’d like this digital asset managed when you die. In order to have your account memorialized, Instagram requires a family member or friend to submit a special request form, along with proof of your death, such as your obituary or death certificate. Once your account is memorialized, the word "Remembering" appears next to your profile name, and your account will basically be frozen, appearing exactly as you left it before your death. All posts shared on your memorialized Instagram account will be preserved and shared with the same audience they were before your death. No one can log into your memorialized account, make changes to your posts, profile information, or settings. Additionally, your memorialized account will no longer appear in public Instagram forums, such as its Explore page. Alternatively, Instagram allows your account to be permanently deleted after your death. According to Instagram's policy, only family members can have your account deleted, and this requires a bit more effort than memorialization. To have your Instagram account permanently erased from cyberspace, your loved ones must not only submit a special form, but they must also supply your birth certificate, proof of death, as well as proof that they are your lawful representative under local law, the latter of which can take the form of a power of attorney document, a will, or an estate letter. Apple Devices & Services As you likely know well, all Apple devices and services require an Apple ID. This ID is used for everything from logging on to your iCloud files and making ‌App Store‌ purchases to tracking and finding your lost iPhone with the ‌FindMy app. Like Facebook, Apple lets you select a “Legacy Contact” to manage the data and devices connected to your Apple ID after your death. Your Legacy Contact can be anyone you choose, and you can even designate more than one Legacy Contact. The data your Legacy Contact(s) can access and manage includes items, such as photos, videos, messages, notes, files, contacts, calendar entries, downloaded apps, and backups of any devices stored in iCloud. Your Legacy Contact(s) will also be able to remove the Activation Lock from your devices, so they can personally use them, give them away, or sell them. However, your Legacy Contact(s) will NOT have access to your login or password information, your payment information, your iCloud email accounts, or any of your licensed media. This means that you can’t pass on your collection of music, movies, or apps, unless that media already exists on one of the devices you own. Before providing access, Apple reviews all requests made by your Legacy Contact(s). To gain access, your Legacy Contact(s) will need the access key provided when they were first nominated, as well as a copy of your death certificate and your date of birth. This makes it vital for your Legacy Contact(s) to print out a physical copy of their access key and safely store it, rather than relying on it being saved in your messages app or password manager. Once access is approved, your Legacy Contact(s) receives a special Apple ID to access your account. From then on, your old Apple ID and password will no longer work, and Activation Lock is removed from all devices using your Apple ID. From the time the first legacy account request is approved, your Legacy Contact(s) has three years to access your data and devices, after which your account is permanently deleted. It is important to note that without a Legacy Contact, Apple will not release any information to your heirs without a court order. That means that your loved ones would have to open a probate estate in order to access any digital assets held on your Apple devices. We're here to help Although you can manage many of the processes described here on your own, when it comes to preparing your estate plan, you should always work with an attorney. Using our Life & Legacy Planning Process, we’ll ensure that all of your digital assets, along with your more traditional forms of property and wealth, are preserved and passed on seamlessly to your loved ones in the event of your death or incapacity. And we will accomplish all of this while ensuring you have the maximum level of privacy possible. With this in mind, check back next week for part three, where we’ll conclude this series by offering an easy, five-step process for including digital assets in your estate plan. In the meantime, if you're ready to get started, click here to schedule a free 15 minute consultation, or e-mail lauren@kaplanestatelaw.com.

If you have preferences about what happens to your digital footprint after your death, you need to take action. Otherwise, your online legacy will be determined for you—and not by you. If you have any online accounts, such as Gmail, Facebook, Instagram, LinkedIn, Apple, or Amazon, you have a digital legacy, and that legacy is yours to preserve or lose. Following your death, unless you’ve planned ahead, some of your online accounts will survive indefinitely, while others automatically expire after a period of inactivity, and still, others have specific processes that let you give family and friends the ability to access and posthumously manage your accounts. Because social media and other digital platforms are such a ubiquitous part of our daily routine, and they can offer intimate snapshots of your life, these digital assets can serve as a key part of your legacy—one you may want to protect after your death. Alternatively, you may prefer to keep your online history private and have it permanently deleted once you're gone. Whether you want to preserve your digital footprint or erase it entirely, you need to plan ahead to ensure your wishes are properly carried out. With this in mind, here we’ll discuss how some of the most popular digital platforms handle your account once you log off for the final time. From there, we’ll cover how to include these digital assets in your estate plan to ensure they are properly accounted for, managed, and passed on in the event of your incapacity or death. FACEBOOK Unless you choose to have your account deleted, Facebook offers what’s known as a “Legacy Contact” for managing your profile after death. Using a Legacy Contact, you can choose someone to control your account’s operation and functionality after you pass away. Following your death, Facebook first memorializes your account. Once memorialized, the word “Remembering” is added to your profile name, and only confirmed friends can view your profile or find it in a search. Depending on your privacy settings, friends and family members can post content and share memories on your memorialized timeline. However, memorialized accounts are locked, so your original content cannot be altered or deleted, even if someone has your password. Your Facebook account can be memorialized regardless of whether or not you select a legacy contact. To have your account memorialized, Facebook simply requires your family or friends to provide proof of your death using a special request form and evidence of death, such as an obituary. If you’ve chosen a Legacy Contact, that individual can manage your memorialized account based on the permissions you’ve granted him or her. Some of the actions your legacy contact can perform include writing pinned posts, choosing who can view and post tributes on your profile, responding to new friend requests, updating your cover and profile images, and requesting your account’s closure. However, there are certain actions your Legacy Contact will not be able to perform. This includes logging into your account as you, viewing your direct messages, removing your friends, or making new friend requests. GMAIL, GOOGLE, & YOUTUBE Google owns several of the most popular web services, including Gmail, YouTube, Google Drive, Google Photos, and Google Play. In order to request how you want these accounts managed after your death, Google offers a function called Inactive Account Manager. Using this function, you must first choose the amount of time—3, 6, 12, or 18 months—that must pass without any activity before the Inactive Account Manager service is triggered. The service lets you select up to 10 different people, who can access your account once Inactive Account Manager goes into effect. You can specify the data those individuals will be allowed to access, including things like photos, contacts, emails, documents, and other content. With Inactive Account Manager, you can also opt to have your account deleted. If so, you can have Google simply delete all of your content, or you can share your content with your designated contacts before deletion. If you share your content, your contacts will be able to access and download data from your account for 3 months before it’s deleted. Should you choose to have your account deleted, your Gmail messages will be permanently deleted, and all data and content in all of your other Google-based accounts like YouTube, Google Drive, and Google Photos will also be deleted. If you die without setting up Inactive Account Manager, Google will automatically delete your account following two years of inactivity. Finally, because Google owns YouTube, and YouTube videos have the potential to earn revenue indefinitely, it’s vital that you use the Inactive Account Manager to protect this potentially lucrative asset following your death. Additionally, you’ll also want to include these intangible assets in your estate plan, so they can be protected and passed on to your loved ones in the most beneficial way possible. On that note, be sure to check back next week, to read part two of this series. In that article, we’ll continue our discussion about how the most popular internet platforms deal with your account after your death. From there, we’ll conclude the series by covering the most effective methods for including these accounts—and other types of digital assets—in your estate plan. Until then, if you need support or advice on the best ways to protect and pass on your assets—digital or otherwise—reach out to us to discuss your options. Our Life & Legacy Planning Process is designed to ensure that all of your tangible and intangible assets, including your family legacy, are preserved and passed on seamlessly in the event of your death or incapacity. Contact us today to learn more.

Being asked by a loved one to serve as Trustee for their Trust upon their death can be quite an honor, but it’s also a significant responsibility—and the role is not for everyone. Indeed, serving as a Trustee entails a broad array of duties, and you are both ethically and legally required to execute those duties or face potential liability. Before you say yes, be sure you understand what it means to be a Trustee. In the end, your responsibility as a Trustee will vary greatly depending on the size of the estate, the type of assets covered by the Trust, the type of Trust, how many beneficiaries there are, and the document’s terms. In light of this, you should carefully review the specifics of the Trust you would be managing before deciding to serve. And remember, you don’t have to take the job. Yet, depending on who nominated you, declining to serve may not be an easy or practical option. On the other hand, you might enjoy the opportunity to serve so long as you understand what’s expected. To that end, this article offers a brief overview of what serving as a Trustee typically entails. If you are asked to serve as Trustee, feel free to contact us to support you in evaluating whether you can effectively carry out all the duties or if you should politely decline. A Trustee’s Primary Responsibilities Although every Trust is different, serving as a Trustee comes with a few core requirements: managing assets held in the name of the Trust, accounting for those assets, and following the terms of the Trust regarding distributions of income and/or principal to the beneficiaries of the Trust. Remember, a Trust is simply an agreement between the grantor and the trustee about the distribution of assets. The Trust agreement directs distribution to a Trustee to hold and manage the assets “inside the Trust” for the benefit of the beneficiaries. As a Trustee, you will be acting as a “fiduciary,” meaning that you must act in the best interests of the beneficiaries of the Trust. And if you fail to abide by your duties as a fiduciary, you can face legal liability. For this reason, if you are named as Trustee, you should hire an attorney to review the Trust Agreement and provide an analysis of the specific duties and responsibilities required of you before you agree to serve. Regardless of the terms of the Trust or the assets it holds or will hold, some of your key responsibilities as Trustee include the following: Identifying and gathering the Trust assets Determining what the Trust’s terms require in terms of management and distribution of the assets Hiring and overseeing an accounting firm to file income and estate taxes for the Trust Communicating regularly with beneficiaries Being scrupulously honest, highly organized, and keeping detailed records of all transactions Closing the Trust when the Trust terms specify No Experience Necessary It’s important to point out that being a Trustee does NOT require you to be an expert in the law, finance, taxes, or any other field related to Trust administration. Trustees are not only allowed to seek outside support from professionals in these areas, but they’re also highly encouraged to do so, and the Trust estate will pay for you to hire these professionals. So even though serving as a Trustee may seem daunting, you won’t have to handle the job alone. And you are also able to be paid to serve as a Trustee of a Trust. That said, many Trustees, particularly close family members, often choose to forgo any payment beyond what’s required to cover the Trust expenses, if that’s possible. But how you are compensated will depend on your personal circumstances, your relationship with the Trust’s creator and beneficiaries, and the nature of the assets in the Trust. We Can Help Because serving as a Trustee involves such serious responsibility, you should meet with us to help decide whether to accept the role. We can offer you a clear, unbiased assessment of what's required of you based on the Trust’s terms, assets, and beneficiaries. And if you choose to serve, it’s even more critical to have an experienced lawyer in estate planning to assist you with the Trust’s administration. We can guide you step-by-step throughout the entire process, ensuring you properly fulfill all of the Trust creator’s wishes without exposing the beneficiaries—or yourself—to any unnecessary risks. Contact us today or email lauren@kaplanestatelaw.com to learn more.

Getting married and starting a new chapter in your life is an exciting time. It’s also a time that requires a lot of housekeeping such as updating your address if your marriage includes a move, changing your tax filing status with your employer, and adding your new spouse to your bank and credit card accounts. But did you know that creating (or updating) your estate plan should also be on your post-wedding to-do list? Last week we started to explore the key estate planning components every newlywed couple needs to protect their rights, wishes, and plans for their assets now and in the future. This week, we’re continuing the conversation with three more estate planning must-do’s for newlyweds. If you missed last week’s blog, be sure to click this link to catch up. 04 | A Living Trust Are you surprised to see a Trust on our list before a Will? Here’s why a Trust is next on your to-do list. If you are newly married, there’s a strong likelihood that you are relatively young in your life and your career, which means there will be many changes in your assets, family, and wishes as the years go by. Or, you might be re-marrying or getting married later in life and already have a well-established home, financial portfolio, and family that you are now combining with your partner’s life. In either situation, you’re in a position of blending your life as a single person with the life and wishes of someone else, and the best way to make sure your wishes for your assets and your new family are honored during your lifetime and after your death is to legally document them through a Trust. With a Will, assets must first pass through a court process known as probate before they can be transferred to your spouse or any other beneficiary. But once probate is completed, your loved ones can do whatever they want with the assets they received from you through your Will. The purpose and power of your Will ends when probate ends. The court probate process required for Wills can take months or even years to complete, and can often lead to ugly conflicts between your spouse and other family members. Plus, a Will only governs the distribution of assets upon your death that are not already covered under your Trust or by your beneficiary designations. With a Trust, no court involvement is needed, and you can set parameters for how you want your assets distributed over a predetermined amount of time. For example, if you have children or plan to, you can ensure the assets are safeguarded in the Trust until your children reach a certain age. If you have children from a prior relationship, you can also make sure that your new spouse is financially supported by your assets during their lifetime but that your remaining assets will be returned to your children after your new spouse’s death instead of going to your spouse’s side of the family. Having a Trust hold your children’s inheritance can also help eliminate conflict between step-siblings and between your children and your spouse. Even if your children are adults, leaving their inheritance in a Trust can help avoid family conflict and provide them with a lifetime of asset protection from creditors and lawsuits. Finally, using a Trust as the main vehicle to distribute your assets during your incapacity and after your death allows you to design a custom plan for what happens to your assets far into the future, ensuring that the goals you have for your loved ones are nourished and that your assets are carefully managed and protected even after you’re gone. You can do this by creating contingencies and incentives in your Trust that encourage your heirs to behave in certain ways. For example, you could require that your children pursue a course of study before receiving a distribution of income from the Trust. 05 | A Will A Will allows you to designate who should receive any assets of yours that aren’t already included in your Trust or directed by beneficiary designations. Ideally, your Trust will include all of your assets. But, if you forget to add an asset to your Trust, a Will ensures that the forgotten asset is “poured over” into your Trust and included under its terms for how you want your assets to be distributed and managed. If you don’t have a Trust, your Will designates who will receive your assets through the court probate process. Your Will may also direct any charitable donations you want to make and can be used to create a Trust upon your death if the circumstances call for it- such as if one of your heirs is disabled at the time of your death. Even if you don’t think you need a Will because you don't have many assets or have other estate planning pieces in place, having a Will as a backup or “pour-over” tool is an essential part of your estate plan. Plus, depending on state law and whether or not you have children, your assets may not get divided according to your wishes if you don’t have a Will, so it’s always a good idea to create one (or update your old one) when you get married. 06 | Legal Guardians for Your Minor Children Finally, if either you or your spouse have minor children from a prior relationship, or if you are planning to have kids of your own soon, it is crucial that you select and legally document guardians for your children. Guardians are people legally named to care for your children in the event that you or your spouse die or become incapacitated. To make sure your children are never left in the care of strangers for even a minute, it’s crucial to name both long-term and short-term legal guardians for your kids. That way, someone you trust will always have the authority to be with your children during a short-term emergency or a long-term situation. Do not assume that just because you have named godparents or have grandparents living nearby that they will automatically have the authority to care for your children if you can’t. The only way to ensure that your children are cared for by the people you would want is to name guardians in a legal document. Otherwise, you risk creating needless conflict between family members and a potentially long, expensive court process for your loved ones. Planning for a Lifetime of Happiness If you’re newly married or are planning to be married soon, I wish you happiness in your marriage and your new life ahead, and I truly want to help you protect the dream and future you are building with your new spouse. With the excitement of your wedding coming to an end, now is the best time to create an estate plan for your new family, and it may even be the most crucial time to create a plan for them. We often think that incapacity and death simply don’t happen to newly married couples, but unfortunately, no one can predict the future. If an illness or tragedy does strike you or your new spouse, the ramifications of not having an estate plan in place can be even worse than for a couple who has been married for a long time. No matter the stage of your relationship or marriage, I can help make sure your spouse and family are protected and cared for now and for years to come. To learn more about how I can help protect your family’s future, schedule a free 15-minute discovery call today. Here’s to a very happy ever after.

You don’t have to be a famous producer or household name to own intellectual property. If you create music, own a business, write stories, or build gadgets in your garage, you almost certainly have intellectual property. However, because intellectual property is intangible, it’s often overlooked in estate planning. And if you do have intellectual property, it may hold significant sentimental and even monetary value for you and the people who love you. Without properly planning for these works in your estate plan, your family could lose these valuable assets forever. Even if you’ve worked with a lawyer to set up your business, write a will, or file your taxes, you may not have considered what happens to your intangible assets upon your death. Many lawyers who focus on estate planning don’t really understand the value of intellectual property and how to protect it. We do, and now so will you. It’s essential that you take the proper steps to not only protect these intangible assets during your lifetime but also ensure that your intellectual property is properly handled following your death. That way, the monetary and human value of your intellectual property isn’t lost forever when you die. Safeguard Your Intellectual Property During Life While you might think that identifying, protecting, and valuing your intellectual property is something that only applies to big companies and famous artists, that’s definitely not the case. Your intellectual property has sentimental value to your family and may have more monetary value than you realize, and could be of even greater value to your loved ones after you’ve died. The first step to take in protecting your intellectual property is to formally document it in an inventory of assets that describes what the asset is, where it’s located, and how to access it if it’s a digital or intangible item. This is something I help all of my clients create to ensure that no asset, whether tangible or intangible, is left out of their plan or lost when they die. The next step is to consider if any of your intellectual property should be legally registered in the form of trademarks, copyrights, or patents with the U.S. Patent and Trademark Office. Original works are automatically copyrighted when you create them, but without legally registering your copyrights, it can be difficult to prove and enforce your copyright if someone steals your work and presents it as their own. If you’re lending, renting, licensing or selling anything you’ve created to a third party, it’s also important to have the proper legal agreements and contracts in place to ensure there’s no question about who owns the material. Likewise, if you own a business and have not protected your intellectual property with copyrights, trademarks, patents, royalty and licensing agreements, non-competes for employees, and work-for-hire provisions in your existing agreements with independent contractors and vendors, now is the time to do so. Don’t wait until your intellectual property is stolen or you receive a cease-and-desist letter to put these protections in place. Registering a trademark or copyright might cost you time and money, but failing to register your original works can cost you far more than that in legal fees or the lost value of your assets, especially if your family ends up in court trying to fight for what you created. Protect Your Intellectual Property for Future Generations In addition to protecting your intellectual property during your lifetime, it’s equally important to plan for what will happen to these assets at your incapacity or death, and to protect your heirs from a potentially long and costly court battle over the ownership of your intangible assets. The most important thing is to make sure that your family can locate and access your intellectual property after you’re gone. Otherwise, your work could be lost forever. Once you’ve created an inventory of your assets, you’ll need to make sure your loved ones know how to find your inventory so that if you die or become incapacitated they can easily locate and access your assets. Your inventory should also include how each asset is accounted for in your estate plan and whether you share ownership of any intellectual property with another person or company. Your attorney should help you plan for each asset, who will inherit it, how its value will be distributed, and how income generated from it will be used, all while avoiding the need for a long and costly probate proceeding. If you think this all sounds overly complicated, imagine how much more difficult it will be for your loved ones to deal with it should something happen to you. In fact, it could prove impossible for your loved ones to handle these matters in your absence, which is why it’s so important for you and your legal team to take care of these issues now. That way, your family isn’t stuck trying to clean up your mess after your death. Planning for All of Your Assets, In The Best Way While you might not be a famous author, artist or musician (yet), you very well may have valuable intellectual property, and chances are that property has not been properly documented or accounted for in your estate plan. Besides monetary value, your pieces of intellectual property are unique creations that reflect your heart, soul, and personality that your family will cherish for years to come. To make sure all of your assets are protected and planned for, including your intellectual assets, give us a call. We offer expertise in documenting, valuing, and protecting your intangible assets so your loved ones can benefit from these creations for generations to come. Click here to schedule a free 15-minute call with me to learn more or e-mail lauren@kaplanestatelaw.com.

If you are looking to create your last will and testament, or will, online, you’ll find dozens of websites that let you prepare a variety of estate planning documents for very little money, and even for free. With so many do-it-yourself online document services out there, you might believe you can create your will online, all on your own, without paying a lawyer to help. And in some cases, you can create your will online. But if you do, you need to understand how these services can backfire on you and your family. Online estate planning can be a catastrophe for those who aren’t aware of the risks. And as you’ll see, creating your will online without a lawyer’s guidance can even be worse for your family than if you’d done nothing at all. If you are looking to create your own will online, first ask yourself the following 3 questions. After considering these 3 questions, if you determine you can create your own will online, you should seriously consider having us review it for you once you complete the document to be certain you’ve properly covered everything and everyone you care about. 01 - Will your online will keep your family out of court? When considering creating your own will online, the first question you need to ask yourself is: “Should I become incapacitated or when I die, do I want to keep my family out of court?” If your answer is “Yes, I 100% want to keep my family out of court,” then creating your own will online may not be the best idea. While a will is a necessary element of most estate plans, it’s typically just one small part of an integrated plan. And a will by itself won’t keep your family out of court. In order for assets covered by your will to be transferred to your beneficiaries, your will must first pass through the court process known as probate. During probate, the court oversees the administration of your estate and assets, ensuring your assets are distributed according to your wishes, while ensuring any creditors of your estate are paid, and managing any disputes that arise. Probate is lengthy, expensive, and open to the public, so you’ll want to have more than a will in place if you have any assets that would go through court in the event of your incapacity or death. To avoid probate and keep your assets out of court, your will needs to be combined with other planning documents and important conversations as well. These documents include a properly drafted and funded trust, up-to-date and effective beneficiary designations, and you’ll also need to have conversations with family to ensure they won’t end up in conflict due to your lack of preparation. Beneficiary designations and trust planning can be complex, and if you have assets that would otherwise pass through the court process, it may be difficult to ensure you are making all the right choices for your loved ones and your assets using an online document service. This is why we recommend that you begin your estate planning with a Family Wealth Planning Session, during which we can help you look at your family dynamics and your assets, and then we can assess what would happen to everything you have and everyone you love, when something happens to you. During this planning session, we can then determine the right plan for you and the people you love to help keep them out of court when something happens to you. 02 - Is your online will’s execution legally valid? If you do not have assets that would go through the court process, and you want to create an online will simply to name someone as your executor in the event of your death, you’ll want to make sure your online will is legally valid. Each state has specific laws stipulating how a will must be documented and signed to be legally binding. If you fail to execute your will in accordance with these laws, the court can deem your will legally invalid. If the court deems your will invalid, it’s as if the document never existed. In that case, a judge would name the person it considers is best to handle your estate, and your assets would be distributed according to state intestacy laws, which typically give priority to your closest living blood relatives. If you want to ensure your online will is legally valid, you can look up your state’s laws governing the valid execution of a will. From there, make certain you sign it properly, with the right number and type of witnesses. 03 - Does your online will properly name an executor? If you are going to create your own online will, the last question to consider is whether the will properly names an executor, along with back-up executors, and it ensures that those you name will be appointed by the court in the event of your death. An executor, also called a “personal representative,” is the person responsible for carrying out the instructions in your will. Your executor is typically named in your will and appointed by the court to locate and manage your assets, pay any outstanding debts and taxes you owe, and distribute your remaining assets to your beneficiaries. If you don’t name an executor in your will, or the person you choose is determined to be unfit, the court will appoint an executor for you. As an example of how things can go wrong here, one common situation in which a named executor can be determined to be unfit is if your will does not waive the requirement for the executor to obtain a bond, and your named executor cannot qualify for a bond. This is a frequent mistake made by those who create their own will online. If you’re unaware of these requirements when creating your online will, your chosen executor could be deemed unfit, leaving the choice up to the court. We can make certain your choice for executor is properly qualified, so you can rest easy knowing someone you know and trust will handle your final affairs and support your loved ones when you no longer can. The Professional Support You Deserve As you can see, creating your will online without a lawyer’s help is a huge gamble, and if you get it wrong, it can cost your family a lot more than money. Rather than relying on a one-size-fits-all document service, meet with us, to create your will and other estate planning documents. Our Life & Legacy Planning Process is specifically designed to put in place the right combination of planning solutions to fit with your unique asset profile, family dynamics, budget, as well as your overall goals and desires. Until then, if you need to get your plan started or need us to review your existing documents, contact us today.

As a parent, you are quite accustomed to managing your children's legal and medical affairs, as circumstances require. If your child requires urgent medical attention while away from you, a simple phone call authorizing care can do the trick. But what happens when those “children” turn 18, now adults in the eyes of the law, and need urgent medical attention far from home? The simple fact is that the day your child turns 18, he or she becomes an adult and has the legal rights of an adult. This means that you lose your prior held rights to make medical and financial decisions for your child unless your child executes legal documents giving you those rights back. Without the proper legal documents, accessing medical information and even being informed about your adult child’s medical condition can be difficult and in some cases, impossible. When sending kids off to college, it is crucial to consider the legal implications of an accident or medical emergency on your ability to stay informed and participate in important decision-making for your young adult child. Medical professionals are responsible for following the Privacy Rule of the Health Insurance Portability and Accountability Act (HIPAA), which ensures medical privacy protection for all adults. Once your child turns 18, making communication about medical issues is tricky if your child is incapacitated and not able to grant permission on their own. In most states, these three legal documents can make all the difference when a medical crisis strikes and your young adult child is far from home. When utilized together, they can ensure a parent or trusted adult be kept in the loop about care and treatment when a child over the age of 18 experiences a medical event while they are away at college, traveling, or living far from home. As with most legal documents, the law varies from state to state, so be sure to seek out the counsel with an attorney in your state. HIPAA Essentially like a permission slip, this authorization allows your adult child to specify who is allowed access to their personal medical information. Specific information can be specifically withheld, such as drug use, sexual activity, and mental health issues so that additional privacy can be protected if desired. Medical Power Of Attorney Designates an agent to make medical decisions for the young adult. This could be you, as the parent or another trusted adult. Each state has different laws governing medical power of attorney, requiring different forms. Be sure to check with us to be sure you are following the laws of your state and the state where your child resides. Durable Financial Power Of Attorney Allows the parent or another trusted adult to take care of personal business if the adult child cannot do so. This form would allow the parent to take care of such important tasks such as signing tax returns, paying bills, and accessing bank accounts for the incapacitated adult child. A durable power of attorney is powerful and gives broad access to sensitive financial and legal decision-making and should only be given to a trusted relative or friend. The milestones come quickly once children graduate high school and enter the big, wide world away from home. As your family navigates these significant rites of passage, consult us to determine the steps necessary to ensure excellent communication and peace of mind when a medical emergency arises. Consider including your young adult children in the process. We’re here to help your family establish the legal and medical protections needed to live your desired lives. Contact us today to get started so you can get the right documents in place for your kids.

Investing in life insurance is a foundational part of estate planning, and when done right it’s a primary way to say “I love you” to your loved ones after you are gone. However, when naming your policy’s beneficiaries, several mistakes can lead to potentially dire consequences for the people you’re investing to protect and support. The following four mistakes are among the most common we see clients make when selecting life insurance beneficiaries. If you’ve made any of these errors, contact us immediately, so we can support you to change your beneficiary designations on your policy and ensure the proceeds provide the maximum benefit for those you love most. 01 - Failing To Name A Beneficiary Although it would seem common sense, whether intentional or not, far too many people fail to name any beneficiary on their life insurance policies or inadvertently name their “estate” as beneficiary. Both of these errors will mean your insurance proceeds must go through the court process known as probate. During probate, a judge will determine who gets your insurance death benefits. This process can tie the benefits up in court for months or even years, depending on who the beneficiaries of your estate are under the law. Moreover, probate opens up the proceeds to creditors, which can seriously deplete—or even totally wipe out—the funds. To keep your insurance proceeds out of court , make certain you designate—at the very least— one primary adult beneficiary. In case your primary beneficiary dies before you, you should also name a contingent (alternate) beneficiary. Name more than one contingent beneficiary for maximum protection in case your primary and secondary choices die before you. Ideally, we often recommend that the primary beneficiary of your life insurance is the Trustee of a well-considered and thoughtful Trust Agreement to provide maximum benefit and protection for your heirs. 02 - Forgetting To Update Beneficiaries While failing to name any beneficiary is a huge mistake, not keeping your beneficiary designations up to date can be even worse. This is particularly true if you are in a second (or more) marriage and fail to remove an ex-spouse as beneficiary, which can leave your current spouse with nothing when you die. To prevent this, you should review your beneficiary designations annually as part of an overall review of your estate plan and immediately update your beneficiaries upon events like divorce, deaths, and births. When you are our client, we have built-in systems to ensure your beneficiary designations (along with all other documents and decisions in your plan) are regularly reviewed and updated. 03 - Naming A Minor (Or Their Guardian) As Beneficiary You are technically permitted to name a minor child as a beneficiary of your life insurance , but it’s never a good idea. Minor children cannot receive insurance benefits until they reach the age of maturity—which can be as old as 21 in some states. In the event a minor is listed as beneficiary, the proceeds of your insurance will be distributed to a court-appointed custodian, who will manage the funds (often for a not insignificant fee) until the child reaches the age of maturity. At that point, all benefits are distributed to the beneficiary outright and unprotected. This is true even if the minor has a living parent. A child’s living parent could petition to the court to be appointed custodian. Still, there is no guarantee that a parent would be appointed custodian, especially if the parent cannot qualify or pay for a bond. In many cases, a court could deem a parent unsuitable (if they have poor credit, for example) and instead appoint a paid fiduciary to control the funds. Rather than naming a minor as a beneficiary, you may think to name the person you have chosen as guardian of your child. But that’s not the right answer either. In that case, all insurance would pay outright to the named guardian and could be used in any way they choose, or even be at risk of being taken in a divorce or by a judgment creditor of the guardian. Instead, the right answer is to set up a trust to receive the insurance proceeds and name a trustee to hold and distribute the funds to a minor child you would want to benefit from your insurance proceeds, when and how you determine, or even hold them protected for your beneficiary to control but safe from divorce and creditors if you choose. 04 - Naming An Individual With Special Needs As Beneficiary Although a loved one with special needs is likely one of the first people you’d consider naming as beneficiary of your life insurance policy, doing so can have tragic consequences. Leaving insurance directly to someone with special needs could disqualify that individual from receiving much-needed government benefits. Rather than naming someone with special needs as a beneficiary, you should create a “special needs trust” to receive the insurance proceeds. This way, the money won’t go directly to the beneficiary upon your death. Still, it would be managed by the trustee you name and dispersed according to the trust’s terms without affecting benefit eligibility. The rules governing special needs trusts are complicated and vary greatly from state to state, so if you have a child with special needs, meet with us today to discuss your options. In the end, special needs planning involves much more than just life insurance—it’s about providing a lifetime of care and protection. Eliminate Future Problems Now While naming life insurance beneficiaries might seem simple, if you’re not careful, you can create major problems for the loved ones you’re doing your best to benefit. Meet with us today to ensure you’ve done everything properly. We can also support you in planning tools like trusts to ensure your insurance proceeds provide the maximum benefit for your beneficiaries without negatively affecting them. To get started, schedule a phone call with me, or, as always, feel free to reach out to me at lauren@kaplanestatelaw.com or (312) 833-2199.

As the need for affordable legal services becomes even more important in today’s world, it's common to opt for group legal insurance offered through your workplace benefits. These group insurance plans provide free legal assistance for a variety of needs from law firms that have contracted with the insurance company to provide the legal work. While group legal insurance might seem like an easy option to save on your family’s legal needs, it’s often inadequate for creating the kind of estate plan you really need to protect your assets, your choices, and your loved ones. In fact - the type of estate plan, will, or trust created through legal insurance programs could leave your family with a big mess. Here are the reasons why estate planning for your family demands a heart-centered, counseling-oriented approach and guidance beyond the scope of your group legal insurance coverage. I’ll help you understand the potential pitfalls of using group legal insurance for estate planning and share suitable alternatives to ensure your assets are properly protected and that your loved ones are left with a legacy of love, and not a big mess. One Size Doesn't Fit All When it comes to estate planning, if you have people you love and assets you care about, there is no such thing as a one-size-fits-all plan that works for you and your family. While there are almost always at least, and sometimes more than 4 key documents in a standard estate plan–a will, trust, health care directive, and power of attorney–there are additional pieces of planning that are quite important for your family, depending on the specifics of your family dynamics and the nature of your assets, to ensure that your plan actually will work when your family needs it. Not to mention the content of these 4 documents must be specifically tailored to meet the unique needs of your family. Each person and each family has unique circumstances that require custom planning to ensure their plan works the way you want it to. Your financial, medical, and personal needs must be taken into account to craft a comprehensive plan that will serve you now and pass on your assets in the best way after you’re gone, all while ensuring the best use of your resources during your life. Your group legal insurance plan may have the 4 key documents of an estate plan, but a generic set of planning documents is unlikely to work for you the way you want, and will almost certainly guarantee your family will end up lost and confused when something actually happens to you, and your family needs the support of the plan you created to guide them. To create a plan that will truly work for you and your family, your planning process needs to begin with an evaluation of your assets and family dynamics and needs to educate you about the application of the law to your specific situation. This is why we don’t have a one-size fits all solution, but instead begin our planning with you looking holistically at everything you have, everyone you love, and what you desire for the people you love. The type of cookie-cutter estate plan you are likely to receive through your group legal insurance simply won’t include the kind of comprehensive considerations and counseling necessary to deliver a plan that will serve you and your loved ones in the way you would want while keeping your family out of court and conflict. Legal Insurance Nickel and Dimes Many group legal insurance plans boast free legal services after your deductible is paid, but what isn’t revealed is the limit of the coverage that’s covered for free. Only certain types of legal services are covered under group legal insurance plans. Estate planning is frequently covered, but the kind of plan you will receive is a mere set of documents, similar to what you could create yourself online, and not a customized, well-counseled plan that will be sure to work when your family needs it. Plus, some items that are essential to the creation of your plan, like notary stamps or fees to file documents with the state or county, are not included in the covered service and are instead charged to you as an extra expense. More importantly, most legal insurance plans have limits to the amount of claims you can file for each type of service each year. For example, you may only be covered to create a Will once a year, but won’t be covered if you need to update your estate plan mid-year if circumstances change or someone dies. Estate planning isn’t something you do once, as your life will change, your assets will change, and the law will change. A legal insurance covered plan will not keep up with those changes, so you may receive documents, but those documents aren’t likely to be what your family needs when something happens to you. You Need a Heart-Centered, Counseling-Based Planning Approach Creating an estate plan isn’t just about a Will or a Trust or passing on your money after you’ve died. It’s about making wise decisions about the use of your resources throughout your life, leaving your assets in a way that creates a legacy, not a mess, and creating the best reality possible for yourself and your loved ones. As your attorney, I take a holistic approach to serving you by working closely with you and your family to understand what matters to you, your family's dynamics and values, and the aspirations you have for your family as a whole. Then, I review and consider all of your assets, including the intangible assets often left out of planning. Then, together, we create a truly personalized plan that takes into account every aspect of your family's well-being for the near and long-term What’s more, your needs and your family's needs will change over time. You’ll buy new assets and sell others. You may have another child, or become a grandparent. Your daughter may start a business or your brother may develop a disability. That’s why it’s crucial to coordinate your estate plan with the circumstances of your loved ones so that your wishes are honored and your assets are protected no matter how their situation changes over time. To do this, I look at how your wishes and the circumstances of your loved ones intersect and can provide you with personalized guidance at any stage in life’s journey. In addition, our planning process includes creating an inventory of all of your assets and we review your entire plan, including all of your decisions and your asset inventory for free every three years to make sure the plan we created for you will continue to serve you and your family in the way you intended. By doing this, we can identify any areas of your plan that need to be changed and any new assets that need to be coordinated into your plan. Legal Insurance Plans Lack Long-Term Considerations Estate Planning is a journey that spans a lifetime. As your finances, needs, and wishes evolve over time, your estate plan must adapt accordingly. Relying solely on group legal insurance won’t provide the ongoing support and guidance needed to address changing circumstances over the years. Under group legal insurance, your choice of attorneys is limited to the firms that have contracts with the insurance company, and there is no guarantee that the attorney you worked with this year will be available to help with changes to your plan next year. Your children will grow into adults. That means you’ll lose your ability to make decisions for them unless you update your estate plan to nominate a Permanent Guardian or Power of Attorney for them. We can help with that. You may wish to leave your house to your daughter but you worry about the longevity of her marriage. We will help you look at all of these considerations as part of our planning with you now and as they come up in the years that follow. Time-sensitive changes to your plan that are needed as a result of a sudden emergency or death in the family may be impossible to carry out when using an attorney through group legal insurance. Instead, you want to work with an attorney who knows your family’s story and can pick up right where you left off, allowing them to quickly and effectively address any needed changes to your plan with just a phone call. Trusted Expertise in Estate Planning While group legal insurance may seem like the ultimate way to protect your loved one’s future legal needs and your family’s wallet, sadly, the services available through these group insurance plans simply aren’t comprehensive enough to ensure you and your family get the support and guidance they need, and deserve. Instead, it’s crucial to work with an experienced estate planning attorney who gets to know your family on a personal level and can guide you every step of the way. If you want to make sure your loved ones are always cared for no matter what the future holds, schedule a phone call with me and I’ll share all the details of our Family Wealth Planning Session. Or, as always, feel free to reach out to me at lauren@kaplanestatelaw.com or (312) 833-2199.

You might think that estate planning is something you can complete one time and then check off your to-do list for good. But the reality is that in order for your estate plan to work for you no matter how your life changes, your plan needs to change with it. To make sure any big changes in your life are considered in your plan, I recommend reviewing your estate plan with your attorney at least every three years. But if any major life events happen before then, it’s crucial to have your plan reviewed as soon as possible so it can be updated if needed. Last week, we started to explore 10 life changes that might affect your estate plan. This week, we’re coving five more life events that mean it’s time to review your plan. 06 | You Became Seriously Ill or Injured A sudden illness or injury can leave you incapacitated and unable to manage your affairs. Therefore, it's essential to review your estate plan to ensure it includes Powers of Attorney for healthcare and finances. These documents let you name someone you trust to pay your bills and manage your assets, as well as make medical decisions for you if you can’t speak for yourself. It’s also important to include healthcare directives that describe what kind of healthcare you want if you become incapacitated. This can include dietary restrictions or preferences, religious beliefs, or limits to certain treatments or life-sustaining measures. By legally documenting your healthcare choices, your Power of Attorney will feel more comfortable in the role and will be able to make medical decisions for you that align with your wishes. 07 | You Moved Here From Another State Each state has its own laws and regulations regarding estate planning, so if you moved here from another state after completing your estate plan, it’s crucial to have your plan reviewed by a local attorney. If your existing plan doesn’t meet our state’s requirements for how an estate plan is signed or witnessed, or contains terms or processes that differ from the processes of our state, this can cause delays when your plan needs to be used and may even require a court to review its validity. Reviewing your plan with a local attorney and making any changes to comply with our laws will make sure that your estate plan can be relied upon at any moment without delay or confusion. 08 | You Got Married Marriage brings about not only joy and celebration but also important legal updates that are easy to put off. When you tie the knot, your estate plan needs to reflect your new marital status. Some states automatically make your spouse a co-owner of some of your property, but that doesn’t ensure an easy transfer of that property to your spouse when you die. In Illinois, marriage does not automatically update your ownership in property. To make sure your assets will go to your new spouse if you die or become incapacitated, it’s essential to update beneficiaries and make arrangements for shared assets. Additionally, you might consider creating provisions to protect your spouse financially and emotionally in the event of your passing. 09 | You Got a Divorce The end of a marriage is a significant life event that requires immediate attention to your estate plan. After a divorce, you’ll likely need to revoke and redo your entire estate plan. This includes creating a new Will and Trust, updating beneficiary designations on life insurance and retirement accounts, and revising asset distribution to reflect your new circumstances and relationships. If you have children from your previous marriage, you may need to revisit guardianship arrangements and provide for their financial needs accordingly. 10 | The Law Changed Tax laws are subject to change, and revisions to estate tax exemptions can have a substantial impact on your estate plan. If there are significant changes in federal or state estate tax laws, it's crucial to review your plan with an estate planning attorney to minimize tax burdens and protect your wealth for your loved ones. Even if you weren’t affected by federal or state estate taxes in the past, changes in federal estate tax law are scheduled for 2026, so now is the time to review whether this change will affect your family’s estate tax filing status. Estate taxes can cost your family tens or even hundreds of thousands of dollars, but these tax liabilities can be significantly reduced or even avoided entirely with proper estate planning. By Your Side Through All of Life’s Changes Your estate plan serves as the bedrock protecting your family and finances, not just for today but also for the future. However, estate planning isn't a one-time task - it should adapt and evolve alongside the changes in your life. At Kaplan Estate Law LLC, our mission is to be by your side through all of life's changes, ensuring your estate plan remains up-to-date and effective no matter what life brings your way. That's why we offer our clients a complimentary review of your estate plan every three years, and I encourage you to reach out at any time before then with questions about life changes or events that might affect your plan. If you’re ready to create an estate plan that protects your loved ones and your legacy, or want your existing plan reviewed, give me a call at (312) 833-2199 or e-mail us at lauren@kaplanestatelaw.com. I’d be honored to help ensure your family’s well-being for years to come. You can also click on my scheduling link to get started. I can’t wait to hear from you.