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When you die, what happens to your online life? Each social media platform has its own rules for dealing with the accounts of deceased users, ranging from permanent deletion to transforming accounts into places for mourning and memory. Understanding these options is essential for managing digital assets responsibly and respecting your wishes. So let’s take a look at the various policies of major social media sites and what you can do to make sure your accounts are handled the way you want. After all, our social media accounts reflect our personalities, interests, and memories, so we want them handled with care. What Each Platform Allows Let’s take a look at the practical aspects and discuss what each digital platform allows or requires. Note that these provisions are updated as of April 2024, as this article is being published. Facebook. Facebook offers two options for accounts of deceased users: either close the account permanently or convert it into a memorial account where loved ones can share memories. The platform allows you to designate a "Legacy Contact" while you’re alive; someone who can manage your memorialized account by updating your profile picture, accepting friend requests, and posting memories. Importantly, they cannot log into the account or view your private message history. Instagram. Instagram also allows accounts to be either memorialized or permanently deleted. A memorialized Instagram account will display a "Remembering" label and will not appear in public spaces like the “Explore” section. The process requires proof of death, such as a death certificate, so someone will need to provide that after you’re gone. TikTok. TikTok permits family members or legal representatives to request the deactivation of a deceased user’s account by providing appropriate proof of death. Unlike Facebook and Instagram, and at the time of this writing, TikTok does not currently offer a memorialization option, so your account is permanently removed once the request is processed. X. X (formerly known as Twitter) allows the family to close the account of a deceased user. This involves submitting proof of death, after which your account and its contents are permanently deleted. X does not provide a memorialization option. YouTube. YouTube is covered by Google’s overall policies, which offer a proactive feature called the Inactive Account Manager. This allows you to set instructions for your account if you become inactive for a specified period. You can also choose to have your data shared with trusted contacts or have the account deleted. LinkedIn. On LinkedIn, immediate family members or colleagues can request to remove a deceased member's profile by providing proof of death. LinkedIn focuses on maintaining a professional network and so does not offer account memorialization. How to close or memorialize an account It’s important to know that social media platforms generally discourage logging into a deceased person's account as it poses privacy and security risks. To close or memorialize your account, family members must directly contact the service and provide the necessary documentation. They won’t be able to make a phone call, either - they’ll have to find out how to close or memorialize your account on each site separately, which can be time-consuming and frustrating. But there’s a better way! You can create a plan that helps your loved ones navigate the process. To do that, you need a trusted estate planning lawyer. What an Estate Planning Attorney Can Do A trusted estate planning attorney plays a crucial role in helping manage your digital legacy, ensuring that your wishes for your online accounts are carried out after your passing. Here’s what a skilled attorney can do to help ensure that your loved ones have the necessary information and authority to manage your accounts: 1. Create a Digital Asset Plan An estate planning attorney can help you draft a digital asset plan that details your wishes for each of your online accounts. This plan can specify which accounts should be closed and which should be memorialized. It includes all kinds of digital assets, from social media accounts and emails to digital wallets and personal blogs. Your attorney can also guide you in appointing an executor, a person who will be responsible for managing your online assets according to your wishes. A knowledgeable attorney will explain the responsibilities involved and help ensure that the executor has the legal authority they need to act on your behalf with various digital platforms. 2. Provide Necessary Legal Documentation A skilled attorney can prepare necessary legal documents that authorize your executor to access your accounts. This might include special powers of attorney and directives that are included in your will, trust, or in a separate document. 3. Secure Your Account Information A trusted attorney can suggest secure ways to store your account usernames, passwords, and any other necessary information. This information can be kept in a way that respects privacy and security but becomes accessible to the digital executor or designated individuals after your death. 4. Update the Plan Over Time As laws and platform policies change, a trusted estate planning attorney can help update your digital estate plan. This ensures that it remains compliant with new regulations and continues to reflect your wishes accurately. How We Can Help At Kaplan Estate Law LLC, we don't merely dispense legal counsel; we safeguard all your assets and guide you to make the right decisions for your unique situation. We take the time to fully understand what’s important to you, and then together, we’ll craft a thoughtful and holistic plan so you and your family can avoid the stress, conflict, and chaos that comes with incomplete planning - including incomplete digital planning. To learn more about how we approach estate planning from a place of heart and understanding, schedule a complimentary 15-minute call with our office.

When that extra bit of money from your tax refund lands in your bank account, it's easy to start dreaming about all the ways you can use it. Financial experts may tell you that it's a chance to pay off debts, tuck away savings for an emergency, or add to your retirement savings. You, on the other hand, may want to splurge on something special. However, there's an often-overlooked option that not only provides immediate satisfaction but ensures long-term benefits for both you and your loved ones: estate planning. Estate planning might sound like a complex and daunting chore reserved for the wealthy, but it's actually a straightforward and crucial process for everyone. In its most basic terms, estate planning involves making a plan for what happens to your belongings and finances after you're gone, or if you become incapacitated. Think of it as creating a roadmap for your loved ones to follow, ensuring they're taken care of and know exactly how to handle your estate according to your wishes. After all, someone will have to do something with your stuff after you’re gone, and if you’re the one who takes care of it while you can, you can save your loved ones a lot of pain. And, make sure you are cared for in the way you want, by the people you want, if you become incapacitated. And by the way, proper estate planning covers much more than just money and personal belongings, but we’ll delve into that in just a bit. Why You Need an Estate Plan Not only do you need a plan for what happens with your finances and personal items after you’re gone or become incapacitated, but you also need an estate plan if any of the following are true: You care about the people in your life who will handle things for you, if you cannot. First and foremost, estate planning isn’t something you just do for yourself, it’s truly an investment you make for the people you love. If it feels daunting to you, imagine how they will feel left with a big confusing mess when something happens to you. And, it’s one of those things that you must get handled before you need it because by the time you need it, it’s too late, and you’ve just left the people you love the most with a big mess. That’s why we say that estate planning is about protecting your family. It's about protecting their time, energy and attention, and leaving them with a gift of love. It’s a way of saying "I love you" that goes beyond words, providing them with security and guidance during a difficult time. By making your wishes clear, you can keep them out of court, prevent potential conflicts and ensure your loved ones are supported exactly as you intend. You want your wishes to be honored. With an estate plan, you have the power to dictate exactly how you want to be cared for if you are incapacitated, or who makes decisions for you if you cannot. If you would not want to linger in a hospital bed for years like Terry Schiavo did before her death, you must create a plan. Otherwise, the people you love could get stuck in a court process fighting over your care. You also get to say who inherits your assets, from your home and savings to sentimental items. Planning ensures there isn’t any confusion and guarantees that your possessions end up in the right hands. Planning also makes it clear who should handle things after you are gone, and it makes it as easy as possible for the people you choose. You want to save money and time (for yourself and your family). Dealing with the court if you become incapacitated or when you die is time-consuming, can be expensive and is totally public. Without a clear plan in place, you or your family may face costly legal battles and time-consuming administrative hurdles. Your careful planning now can save them from this stress and financial strain, making the process as smooth as possible. In addition, careful planning ensures that you save yourself money by avoiding unnecessary costs if you are unable to care for yourself. You have minor children. If you have minor children, consider who is home with them when you aren’t. Would that person know what to do if you didn’t make it home? Or would the authorities show up at your house and have to take your children into the care of protective custody/strangers while they figured it out? If the idea of this terrifies you like it does most parents, you need an estate plan. Most parents of minor kids are overwhelmed with the demands of everyday life and don’t stop to think that estate planning applies to them. A common misconception is that planning is only for older folks who know their mortality is staring them in the face, and young parents think that’s too far off to warrant any consideration. That’s a mistake. Death happens to everyone and incapacity can happen before it, no matter how old you are right now. Don’t leave your kids at risk. So now you know you need an estate plan but aren’t sure what to do next. If you feel like the process seems daunting, don’t worry. Taking that first step is easier than you might think. Put Your Tax Refund To Work You might consider using your tax refund to do your estate plan on your own or opt for a cheap online service. While these options can seem cost-effective at first glance, they don’t offer the comprehensive coverage and personalized advice that your unique situation requires. Instead, investing your refund in working with a heart centered, holistic attorney with a process in place for ensuring that your plan works throughout your lifetime is a much wiser choice. We will get to know you, your family dynamics, and your assets, and then help you choose the right plan for you both now, and into the future. Creating a will or a trust isn’t a one and done thing you do, and then put it on a shelf or in a drawer and never look at it again. When you do that, your plan is almost guaranteed to fail when the people you love need it. In that case, it’s almost better to do nothing because then at least you have it on your to-do list. False security is one of the greatest risks of estate planning. We will help you navigate the law, and also help you tailor your estate plan to fit your specific needs, as well as provide peace of mind knowing that your estate plan is thorough and legally sound. Remember, when it comes to safeguarding your family's future and ensuring your wishes are accurately reflected, the value of expert guidance is well worth the investment. At the very least, your attorney should help you create the relevant documents, including: Creating a Will: A will is a document in which you detail the distribution of your assets and designate guardians for any minor children. It serves as your voice, ensuring your assets are allocated as you desire. Setting Up a Trust: For greater control over the distribution of your assets, a trust is invaluable. It not only allows for precise management of how and when your assets are distributed but can also offer tax advantages and circumvent the lengthy and public probate process. In addition, and maybe more importantly, a trust will help your loved ones avoid a lengthy, expensive,  and totally public court process, which can cost your family significant amounts of time, energy and attention. Selecting Guardians and Executors: A key component of estate planning is choosing individuals who will execute your wishes and look after your children if you are unable to do so. These crucial choices help safeguard your family's future. And if you want to go beyond merely choosing people to raise your kids, you need a thorough Kids Protection Plan, which takes into account anything that could happen (i.e., you’re in a car accident and they’re with a babysitter at home). A Kids Protection Plan also ensures your kids are raised by the people you want in the way you want, that someone you’d never want to raise your kids is able to, and that the right people are able to get emergency care for them if you’re traveling without them. Managing Taxes and Expenses: Effective estate planning can significantly lessen the tax load on your beneficiaries, allowing a larger portion of your assets to benefit them directly instead of going towards tax settlements. These are all undoubtedly important, and what most estate planning attorneys will do for you. However, we will go a few steps further, ensuring that investing your tax refund in an estate plan is the very best investment you’ll make all year. We do this by: Empowering you to choose the right plan that fits your unique family situation, values, and budget; Ensuring your assets are inventoried and don’t end up lost (most lawyers won’t tell you that this happens - a lot - to the tune of billions of dollars every year); Creating a Kids Protection Plan , a comprehensive plan outside of your will for what happens to your kids if something happened to you; Being a trusted advisor for your family, so they have someone to turn to for help when something happens to you; Capturing your memories, stories, values and family traditions so they are passed down to the next generations; and A system for updating your plan at least every three years to make sure your plan stays up to date so as your life changes and the law changes, your plan works when you need it to. Estate Planning: The Ultimate Expression of Love Among all the ways to use your tax refund, estate planning ensures that your love and care for your family endure long after you're gone. It's an act of foresight that not only secures your family's financial future but also leaves a legacy. We will work with you to create a complete plan that is worth more to your loved ones than your tax refund will cover. To learn more about our Life & Legacy Planning process, and how we approach estate planning from a place of heart, schedule a complimentary 15-minute call with our office today.

Whether it’s called “The Great Wealth Transfer,” “The Silver Tsunami,” or some other catchy sounding name, it’s a fact that a tremendous amount of wealth will pass from Baby Boomers to younger generations in the next few decades. In fact, it’s said to be the largest transfer of intergenerational wealth in history. Because no one knows exactly how long aging Boomers will live or how much money they’ll spend before they pass on, it’s impossible to accurately predict just how much wealth will be transferred. However, studies suggest it’s somewhere between $30 and $90 trillion. Yes, that’s “trillion” with a “t.” A blessing or a curse? While most are talking about the many benefits the wealth transfer might have for younger generations and the economy, fewer are talking about the potential negative ramifications. Yet there’s plenty of evidence suggesting that many people, especially younger generations, are woefully unprepared to handle such an inheritance. In fact, an Ohio State University study found that one third of people who received an inheritance had a negative savings within two years of getting the money. Another study by The Williams Group found that intergenerational wealth transfers often become a source of tension and conflict among family members, and 70% of such transfers fail by the time they reach the second generation. Regardless of whether you’ll be the one passing on wealth or inheriting it, you must have a well-prepared estate plan in place to prevent the potentially disastrous losses and other negative outcomes such transfers can lead to. Without proper planning, the money and other assets that get passed on can easily become more of a curse than a blessing for you and your loved ones. Proactive planning is the key There are a number of proactive measures you can take to help reduce the risks posed by the coming wealth transfer. Beyond putting in place a comprehensive estate plan that’s regularly updated, openly discussing your values and legacy with your loved ones can be a key way to ensure your estate planning strategies work exactly as you intend. Here’s what we suggest: 01 - Create your own estate plan If you haven’t created your own estate plan yet—and far too many people haven’t—it’s essential that you put a plan in place as soon as possible. It doesn’t matter how young you are, how much wealth you have, or if you have any children yet—all adults over age 18 should have some basic estate planning vehicles in place. If you have yet to get your estate plan started, meet with us right away to get this crucial first step handled. From there, be sure to regularly update your plan on an annual basis and immediately after major life events like marriage, births, deaths, inheritances, and divorce. Unlike traditional estate planning professionals, when you work with us, we maintain a relationship with you long after your initial estate planning documents are signed. Indeed, our Life & Legacy Planning Process features proprietary systems designed to ensure your estate plan is regularly reviewed and updated over your lifetime, so you don’t need to worry about overlooking anything, as your family, the law, and your assets change over time. Be sure to ask about these systems during our meeting. 02 - Talk about wealth with your family early and often Don’t put off talking about wealth with your family until you are in retirement or nearing death. As soon as possible, clearly communicate with your children, grandchildren, and other heirs what wealth means to you and how you’d like them to use the assets they inherit. Make such discussions a regular event, so you can address different aspects of wealth with your family as the younger generations grow and mature. If you feel anxious or uncomfortable talking about wealth with your family, reach out to us and ask for our help. We have processes and systems specifically designed to support you in having these delicate conversations, with far more ease than you trying to do everything on your own. We can even facilitate these discussions with your loved ones, if that’s something you are interested in. And when you do have the conversation with your loved ones, focus the discussion on the values you want to instill, rather than what and how much they can expect to inherit. Let them know what values are most important to you, and try to mirror those values in your family life as much as possible. Whether it’s saving money, charitable giving, or community service, having your loved ones see you live your most important values is often the best way to ensure they carry those values on once you are no longer around. 03 - Discuss your wealth’s purpose Outside of clearly communicating your values, you should also discuss the specific purpose you want your wealth to serve in your loved ones’ lives. You worked hard to build your family wealth, so you’ve more than earned the right to stipulate how it gets used and managed when you’re gone. While you can add specific terms and conditions for your wealth’s future use in estate planning vehicles like Trusts, don’t make your loved ones wait until you’re dead to learn how you want their inheritance used. If you want your wealth to be used to fund your children’s college education, provide the down payment on their first home, or invest for their retirement, tell them so. By discussing how you would like to see their inheritance used while you are still around, you can make certain your loved ones know why you made the estate planning decisions you did. And having these conversations now can greatly reduce future conflict and confusion among your family about what your true wishes really are when you are no longer able to explain your wishes. A Trusted, Lifelong Guide For You And Your Family No matter how much, or how little, wealth you plan to pass on—or stand to inherit—it’s critical that you take action now to make sure that wealth is secure and offers the maximum benefit to your family. Our Life & Legacy Planning Process is designed to ensure the wealth that’s transferred is not only protected, but that it’s used by your loved ones in the very best way possible. Moreover, every estate plan we create features a built-in legacy planning process, which ensures you can communicate your most treasured values, lessons, and life stories to those you leave behind. That’s why we call our services Life & Legacy Planning, not just estate planning. These intangible assets form the foundation of your family legacy, and they are often what we value most of all when it comes to our inheritance. Ready to get started with your plan? Schedule a complimentary Initial Consult or send us an e-mail. We look forward to working with you!

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

Whether it’s a breakup, divorce, or the death of a loved one after a lifetime together, every relationship eventually will come to an end. The most important thing is how you have planned for that ending, or whether you haven’t at all, as your planning (or lack of it) will have a real impact on you, your partner, your children, and your assets. The silver lining? While we can't prevent the end, we can prepare for it with a blend of compassion and strategic planning that makes the end the best possible foundation for a new beginning. Understanding the Intersection of Love and Law For married couples, the law has default provisions in place for what happens to your assets if one of you dies, but those default plans may not align with your personal preferences or the life you’ve built with your partner. If you’re an unmarried couple, the absence of a plan could leave you vulnerable, risking the loss of assets or the inability to make crucial decisions about your property or your medical choices. To better understand how a lack of planning can leave you and your partner out in the rain, let’s look closer at these important areas that are affected when a relationship ends. 1 | Property Ownership Let's say you and your partner purchase a home and other assets together. Without clear documentation outlining ownership rights, a dispute can arise if the relationship ends in a breakup. But breakups aren’t the only danger. If you aren’t married and one of you passes away, the other partner might find themselves without a rightful claim to the property, potentially facing homelessness or a significant financial loss. If you own any property with anyone else or if you want to ensure your property lands in the hands you choose in the event of your death, contact us to plan for that property now. 2 | Healthcare Decisions In the unfortunate event of a medical emergency where one partner becomes incapacitated, lacking appropriate legal documentation could impede the other partner's ability to make critical healthcare decisions on their behalf. This can lead to delays in medical treatment or disagreements among family members over the person’s treatment, causing unnecessary stress and complications during an already challenging time. 3 | Guardianship for Children For couples with children, failing to establish guardianship arrangements in the event of both parents' incapacity or death can have devastating consequences. Without a designated guardian, children may be placed in the care of individuals who may not align with your wishes or values, leading to potential custody battles and emotional upheaval for the children and your extended family. If you and your partner end your relationship without coming to a mutual agreement on a guardian for your children, things could get even more chaotic - especially if one of you has documented your desired guardian and the other partner hasn’t. Worst of all, typical wills don’t cover planning for the needs of minor children sufficiently. It’s why we offer the Kids Protection Plan, specifically designed to ensure your children are never raised by anyone other than people you know, love and trust, and are never taken from your home, into the care of strangers. 4 | Business Interests If you and your partner share business interests or investments, the lack of a solid plan could jeopardize the future of these assets. Without clear instructions, the surviving partner may face challenges in managing or transferring ownership of these assets, potentially leading to financial instability or the dissolution of the business. Be Proactive, No Matter What the Future Holds In each of the scenarios above, the absence of proactive estate planning measures leaves individuals vulnerable to legal and financial uncertainties. By taking proactive steps that consider what will happen when your relationship ends, couples can safeguard their assets, ensure their wishes are honored, and provide peace of mind for themselves and their loved ones. Not sure how to start the conversation with your partner? Start by explaining to your partner your desire to safeguard the life you’re building together.  Just as relationships evolve over time, your wishes and how they are documented should too. Continuously engaging in dialogue and revisiting your plans ensures they remain aligned with your evolving needs and aspirations. Let Us Make It Easy to Plan Ahead Whether you’ve already started the conversation with your partner or need more guidance, planning for the future of your relationship can feel overwhelming. We can help. At our firm, we don't merely dispense legal counsel; we safeguard your love. We comprehend the profound significance of your relationship and are dedicated to ensuring its protection. And whenever (and however)  your relationship ends, we’ll work with you to create a plan that considers these contingencies ahead of time so you and your loved ones can avoid the stress, conflict, and chaos that comes with incomplete planning. To learn more about how we approach estate planning from a place of heart, schedule a complimentary 15-minute call with our office or e-mail lauren@kaplanestatelaw.com.

Today, we're diving into a topic that is absolutely crucial: estate planning for your parents. As they gracefully navigate their golden years, ensuring their peace of mind (and yours!) becomes a top priority. Whether they raised you the way you want, or showed you how you want to do it differently, as your parents' age, one of the very best things you can do for your own best future, and that of your entire future lineage - your children, grandchildren, and beyond - is to take great care of the people you were born to or raised by. The questions you need to start asking now are: How will you help them if they become ill or injured? Who will take care of their bills and make sure their health needs are met? How do they want to be cared for, if and when they cannot care for themselves? The starting place is open conversation and a power trio of estate planning tools swoop in to save the day: the General Power of Attorney, the Power of Attorney for Healthcare (including a Living Will), and the HIPAA Waiver. Now, let's break down why these tools are the unsung heroes of comprehensive estate planning for your parents, and how to bring them up so you can support your parents to get them created or updated, no matter how much or how little money they have in the bank. 1. General Power of Attorney (POA) A General Power of Attorney (or POA)  grants a person you name (often a family member or trusted friend) the authority to manage your financial affairs if you become unable to do so yourself. From handling bills to making investment decisions, the General POA ensures that your financial matters are handled, whether you’re experiencing a temporary illness or a long-term inability to manage your money, such as in the case of memory problems. If your parents have assets that you must be able to access easily in the event of their incapacity, you may decide that a POA for accessing their accounts is not sufficient, as it can be difficult to get access to bank accounts even with a POA in place, and will require court action. In that case, the best course of action is to ensure that their assets are titled in the name of a trust, with you or someone you trust as the named successor Trustee, who can step in and handle financial matters for your parents, without any court involvement, when needed. 2. Power of Attorney for Healthcare and Living Will It’s possible your parents already lean on you for guidance with their healthcare decisions, and it’s equally possible they don’t share details of their healthcare with you at all. No matter which side of the spectrum your parents stand on, the question of what will happen to their healthcare needs if they become seriously ill can feel overwhelming —  and trust me, it’s even more overwhelming during moments of medical crisis. Thankfully, a Power of Attorney for Healthcare and Living Will allow your parents to explain their medical wishes to guide medical providers and family members on what treatments and life-saving measures they’d like to have, even in the toughest of times. The Power of Attorney for Healthcare designates someone to make these medical decisions on behalf of your parents if they're unable to do so. This trusted individual becomes the advocate, ensuring that healthcare choices align with your parents' values and preferences. Meanwhile, the Living Will – also known as a Declaration to Physicians – outlines your parents' wishes regarding life-sustaining treatments in the event they're unable to communicate. From CPR to artificial hydration, this document provides clarity amidst uncertainty, giving both your parents and their loved ones peace of mind that the decisions being made around their care and what they themselves would want. 3. HIPAA Waiver In the digital age, privacy is paramount – but what happens when privacy becomes a barrier to essential healthcare-related communication? Enter the HIPAA Waiver, the ultimate tool for opening communication roadblocks in times of need. HIPAA (the Health Insurance Portability and Accountability Act) protects the privacy of individuals' medical records. While this is crucial for safeguarding sensitive medical information, it can sometimes hinder the flow of communication between healthcare providers and family members, especially for the elderly and those incapacitated by an illness or injury. By signing a HIPAA Waiver, your parents authorize specific individuals to access their medical information and speak directly to their medical providers, ensuring seamless communication and informed decision-making. This is essential in medical emergencies but is also extremely helpful if your parents need help hearing their doctor or understanding their medical advice. How to Bring Up Estate Planning With Your Parents The best way to bring up estate planning with your parents is to get your own planning handled first. Then, let your parents know that in the process of handling your own planning, your lawyer raised the question of whether you were an agent under anyone else’s power of attorney, or named as a successor Trustee in your parents' Trust, or if you are going to be caring for aging parents at some point. And, if you have worked with a lawyer and they didn’t ask you those questions, give us a call and let’s review your plan and your parents’ planning to make sure that everything you’ll need is dialed in. This can all get quite messy very quickly, and now is the time to talk with your parents. Why the Urgency? You might be thinking, "Why the rush? Can't we tackle this later?" Here's the scoop: Life is unpredictable, and procrastination can be a costly gamble. Waiting until a crisis strikes to get these tools in place can lead to a whirlwind of legal and emotional chaos, leaving your parents' wishes unfulfilled and their affairs in disarray. By proactively planning ahead, you're not just checking items off a to-do list – you're investing in your parents' peace of mind and yours. Don't wait for a storm to hit – schedule a 15-minute call today to learn how our unique Life & Legacy Planning process is designed with your family's well-being in mind, offering personalized guidance and support every step of the way.

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

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

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

In the first part of this series, we discussed the estate planning tools all unmarried couples should have in place. Here, we’ll look at the final two must-have planning tools. Most people tend to view estate planning as something only married couples need to worry about. However, estate planning can be even more critical for those in committed relationships who are unmarried. Because your relationship with one another is frequently not legally recognized, if one of you becomes incapacitated or when one of you dies, not having any planning can have disastrous consequences. Your age, income level, and marital status makes no difference—every adult needs to have some fundamental planning strategies in place if you want to keep the people you love out of court and out of conflict. Last week, we discussed wills, trusts, and durable power of attorney. Here, we’ll look at two more must-have estate planning tools, both of which are designed to protect your choices about the type of medical treatment you’d want if tragedy should strike. 03 | MEDICAL POWER OF ATTORNEY In addition to naming someone to manage your finances in the event of your incapacity, you also need to name someone who can make health-care decisions for you. If you want your partner to have any say in how your health care is handled during your incapacity, you should grant your partner medical power of attorney. This gives your partner the ability to make health-care decisions for you if you’re incapacitated and unable to do so yourself. This is particularly important if you’re unmarried, seeing that your family could leave your partner totally out of the medical decision-making process, and even deny him or her the right to visit you in the hospital. Don’t forget to provide your partner with HIPAA authorization within the medical power of attorney, so he or she will have access to your medical records to make educated decisions about your care. 04 | LIVING WILL While medical power of attorney names who can make health-care decisions in the event of  your incapacity, a living will explains how your care should be handled, particularly at the end of life. If you want your partner to have control over how your end-of-life care is managed, you should name them as your agent in a living will. A living will explains how you’d like important medical decisions made, including if and when you want life support removed, whether you would want hydration and nutrition, and even what kind of food you want and who can visit you. Without a valid living will, doctors will most likely rely entirely on the decisions of your family or the named medical power of attorney holder when determining what course of treatment to pursue. Without a living will, those choices may not be the choices you—or your partner—would want. WE CAN HELP If you’re involved in a committed relationship—married or not—or you just want to make sure that the people you choose are making your most important life-and-death decisions, consult with us to put these essential estate planning tools in place. With our help, we can support you in identifying the best planning strategies for your unique needs and situation. Schedule a complimentary initial consult to get started or e-mail lauren@kaplanestatelaw.com.

Estate planning is often considered something you only need to worry about once you get married. But the reality is every adult, regardless of age, income level, or marital status, needs to have some fundamental planning strategies in place if you want to keep the people you love out of court and out of conflict. In fact, estate planning can be even more critical for unmarried couples. Regardless if you’ve been together for decades and act just like a married couple, you likely aren’t viewed as one in the eyes of the law. And in the event one of you becomes incapacitated or when one of you dies, not having any planning in place can have disastrous consequences. If you’re in a committed relationship and have yet to get—or even have no plans to get—married, the following estate planning documents are an absolute must: 01 | WILLS AND TRUSTS If you’re unmarried and die without planning, the assets you leave behind will be distributed according to your state’s intestate laws to your family members: parents, siblings, and possibly even other, more distant relatives if you have no living parents or siblings. The state’s laws would provide NO protection for your unmarried partner. Given this, if you want your partner to receive any of your assets upon your death, you need to—at the very least—create a will. A will details how you want your assets distributed after you die, and you can name your unmarried partner, or even a friend, to inherit some or all of your assets. However, certain assets like life insurance, pensions, and 401(k)s, are not transferred through a will. Instead, those assets will go to the person named in the beneficiary designation, so be sure to name your partner as beneficiary if you’d like him or her to inherit those assets. However, there could be an even better way. Although wills and beneficiary designations offer one way for your unmarried partner to inherit your assets, they’re not always the best option. First and foremost, they do not operate in the event of your incapacity, which could occur before your death. In that case, your partner may not have access to needed assets to pay bills, or he or she could potentially even be kicked out of your home by a family member appointed as your guardian during your incapacity. Moreover, a will requires probate, a court process that can take quite some time to navigate. And finally, assets passed by beneficiary designation go outright to your partner, with no protection from creditors or lawsuits. To protect those assets for your partner, you’ll need a different planning strategy. A far better option would be to place the assets you want your partner to inherit in a living trust. First off, trusts can be used to transfer assets in the event of your incapacity, not just upon your death. Trusts also do not have to go through probate, saving your partner precious time and money. What’s more, leaving your assets in a continued trust that your partner could control would ensure the assets are protected from creditors, future relationships, and/or unexpected lawsuits. Consult with us for help deciding which option—a will or trust—is best suited for passing on your assets. 02 | DURABLE POWER OF ATTORNEY When it comes to estate planning, most people focus only on what happens when they die. However, it’s just as important—if not even more so—to plan for your potential incapacity due to an accident or illness. If you become incapacitated and haven’t legally named someone to handle your finances while you’re unable to do so, the court will pick someone for you. And this person could be a family member, who doesn’t care for or want to support your partner, or it could be a professional guardian who will charge hefty fees, possibly draining your estate. Since it’s unlikely that your unmarried partner will be the court’s first choice, if you want your partner (or even a friend)  to manage your finances in the event you become incapacitated, you would grant your partner (or friend) a durable power of attorney. Durable power of attorney is an estate planning tool that will give your partner immediate authority to manage your financial matters in the event of your incapacity. He or she will have a broad range of powers to handle things like paying your bills and taxes, running your business, collecting government benefits, selling your home, as well as managing your banking and investment accounts. Granting a durable power of attorney to your partner is especially important if you live together, because without it, the person who is named by the court could legally force your partner out with little to no notice, leaving your partner homeless. Next week, we’ll continue with part two in this series on must-have estate planning strategies for unmarried couples. Questions about planning? Schedule a complimentary initial consult or e-mail lauren@kaplanestatelaw.com.

If you’ve given any thought about estate planning, you probably associate it with preparing for death. But did you know that there are critical reasons (and significant benefits) for planning while you’re still well and alive? That’s why I refer to my services as Life & Legacy Planning. When done right, planning for your assets and your death is something that should start right now through honest, open conversations with your family. It starts by talking with your parents, siblings, and children about what you want the future of your family to look like, how you’d like assets managed, and what type of care each family member would want in the event of a debilitating or terminal illness. You may have already started a conversation about estate planning with your family. But this week, I dive deeper into the conversations you need to have right now to truly understand your family’s financial picture and plan for the future in the best way. Keep reading to learn the two conversations about money and death you need to have right now. Conversation #1: What Exactly Do Your Parents Own? Initiating the first conversation involves posing fundamental questions to your parents and the older members of your family: "What do we have? Where is it? And, how would I access it if you weren't here to guide me?" The potential risk to your family's wealth is intricately tied to the costs incurred in the event of a passing. Beyond the visible expenses of funerals, burial, or cremation, and end-of-life medical care, there exists a myriad of unseen costs. Unclaimed assets, amounting to approximately $70 billion in various departments across the U.S., often slip through the cracks because family members don’t know where the assets are, how to get them, or that they even exist. Because of this, tracking and documenting assets, including crypto assets, before incapacity or death is essential to protecting your family’s wealth when someone dies or becomes incapacitated. It may be difficult to bring up this topic with your parents or other family members, but how you approach it with them will make all the difference. The secrecy of asset locations or the fear of appearing greedy may hinder an open discussion between family members, but this can be overcome by building trust between relatives and entire generations. For the junior generation, building trust involves understanding the root causes of distrust and stepping into a mature, caring perspective for the greater family good. Similarly, senior generations can nurture trust by taking ownership of past parenting shortcomings and demonstrating faith in the individuals their children have become – after all, if you raised your children with a sense of financial and personal responsibility, you should be able to trust them! Navigating these challenges may be daunting, but the rewards of building trust and initiating this crucial conversation are immeasurable. Use the conversation as an opportunity to record the locations and access permissions of family assets. If you aren’t sure how to do this, we can help you create a clear inventory of your assets so nothing is lost when death or illness strike. Conversation #2: What Are Their Wishes for Long-Term Care? The next conversation you need to have with your parents is about long-term care planning. This conversation extends beyond financial considerations and looks into the emotional intricacies of care, posing questions about who will provide care if your parents become incapacitated or disabled, how it will be administered, and the potential burdens on loved ones. While money can be a less vulnerable entry point to this conversation, the core involves the tender question of personal care. Addressing concerns such as, "Who will take care of me? How will I be cared for? Will I be a burden on my loved ones?" brings a level of vulnerability that goes beyond financial considerations. Neglecting this conversation can leave crucial decision-making up to the medical system, often resulting in undesirable outcomes and accumulating costs. By engaging in the long-term care conversation, clarity emerges on preferences, funding, and avenues for protection against unforeseen care costs. Let Us Guide The Conversation If initiating these conversations feels challenging or uncomfortable, we can help. As your attorney, we focus on building personal relationships with our clients and their families, and can help guide you and your family through difficult discussions and tough questions about your family’s assets and wishes. It starts with a Life & Legacy Planning Session, where we look at everything you own and everyone you love to identify gaps in your family’s security and make a plan that ensures everything will be cared for the way you want when you die or if you become incapacitated. To learn more, schedule a complimentary 15-minute discovery call with us or e-mail lauren@kaplanestatelaw.com.