Why Operating as a Sole Proprietor Can Cause Estate Planning Problems
Many small businesses begin as sole proprietorships. The structure is simple, inexpensive to set up, and allows the owner to maintain complete control over operations. However, from an estate planning perspective, a sole proprietorship is also problematic because it’s the most vulnerable business structure. The reason is simple: legally speaking, the owner and the business […]
Travel Smart: Add “Estate Plan Review” to Your Travel Planning To-Dos
When planning a trip, most people understandably focus on booking flights, reserving hotels, and making sure passports are ready. But there is another important item that often gets overlooked: reviewing your estate plan. That’s right! Whether you’re preparing for a summer vacation, a cruise, or an international trip, taking time to confirm that your estate […]
The Big Question I Always Ask: “What Do You Actually Want to Happen?”
When I sit down with clients for their estate planning session, there’s one question that matters more than almost anything else: “What do you want?” It sounds obvious and simple, but far too many people lose sight of it when they’re in the “weeds” of estate planning. Framing forms the process. Always remember: this is […]
Once Dementia Has Already Started, It’s Only Going to Get Harder
If your parent recently began showing signs of dementia, you probably already know that you’re stepping into one of life’s hardest seasons. We’ve walked with many families through this, and we want you to know: what you’re experiencing is normal. There will be moments of clarity when your parent seems like themselves again… followed by […]
Set Your Standards for Long-Term Care Now
Most people’s attitude toward long-term care and nursing home planning is “I’ll get around to it someday.” The truth is this: the best time to plan for your long-term care is today. Why? Well, wouldn’t it be easier to plan your future while you’re healthy, clear-minded, and in control of your assets? The longer you […]
Before You Travel the Globe: 8 Tips to Ensure Your Affairs Are in Order
Whether you travel internationally for work or you’re planning a globe-trotting adventure, there’s something important you should do before boarding that plane or cruise ship: finish your estate plan. No one wants to think about the possibility of something going wrong on an overseas trip – and it probably won’t! – but there are a […]
How to Use Estate Planning to Teach Your Adult Children Financial Responsibility
While schools today seem to be a bit better at teaching kids the basic financial skills that are important to navigating adult life (how to create and follow a budget, what in the world APR is, why you generally want to avoid payday loan places), there’s still a long way to go. And if you […]
Tips for Talking to Your Family about End-of-Life Care
Does discussing end-of-life care and death planning make you uncomfortable? Unfortunately, it’s an essential part of communicating our wishes and needs. These conversations touch on aging, death, and finances– all of which can bring up some difficult emotions among the people we love. Addressing these issues early, before a serious injury or illness makes it […]