Month: August 2015

Where is the Best Place to Store Your Original Estate Planning Documents?

Where is the Best Place to Store Your Original Estate Planning Documents?

After you meet with your attorney to sign your estate planning documents, you need to secure the original documents for safekeeping. In order for your representatives to act on your behalf, they need access to these original documents upon your death or incapacitation. There are several ways that you can store estate planning documents to keep them safe and secure.

Should you store your original estate planning documents in your safe deposit box?safeDepositBox

This seems to be the perfect place to store original estate planning documents because it is secure and safe; however, this could be a mistake. A safe deposit box at a bank or other financial institution is designed to be secure and private. The way the bank or institution guarantees that the documents will remain private and secure is to limit access to your safe deposit box to you and to anyone you designate as having permission to access your safe deposit box. Unfortunately, you may not want your appointees to have access to everything in your safe deposit box as long as you are alive and able to take care of yourself and your own affairs.

The Fight Over Robin Williams’ Estate Continues

Legal News GavelIt has been a bit over a year since the tragic death of actor and comedian Robin Williams; however, the family has yet to settle their battle over his estate. Williams took his life in August of 2014 in his California home. The actor had a Will but his kids from a previous marriage and his current wife have been battling for a year over some of the terms contained in the Will.

Williams’ wife, Susan, petitioned the court to prevent his children from taking possession of the contents of their San Francisco Bay home. She claimed the items in the home should be excluded from the estate. William’s children responded to the petition claiming their stepmother was trying to change the terms of the trust to deprive them of their father’s personal belongings and memorabilia.

Now one year later, the parties have narrowed down the fight to about 300 items and an issue regarding a monetary distribution to Williams’ widow. In June, a judge gave the parties until July 29 to settle their differences and reach an agreement. It is not clear if the parties met that deadline yet or if they will be able to settle the dispute without court intervention.

How Can I Prevent My Family From Fighting Over My Estate?

Estate Planning for Baby Boomers

Estate Planning for Baby Boomers

According to financial planners interviewed for an article in USA Today, Baby Boomers are neglecting or simply ignoring the importance of estate planning. They are more focused on their retirement and focused on whether they will have sufficient income to provide for their needs and to do what they want during retirement. Ignoring the need to have an estate plan is not just a problem for Baby Boomers — no one really wants to think about their own death. People tend to put off estate planning because they think, “I will do that later.” Unfortunately for some, “later” is too late.

Why Do Baby Boomers Need to Have an Estate Plan?

Estate planning is an important part of your retirement plan. Your estate plan is more than telling your loved ones what you want to do with your property and financial assets after your death. Your estate plan also allows you to take care of your minor children, or grandchildren, and it allows you to make decisions about your medical care in the event you are unable to do so in the future.

What Estate Planning Tools are Available? …

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