You have questions?

Your Last Will is a legal document through which you distribute some of your assets upon death. Other assets will be distributed not based on your Last Will but on your beneficiary designations, depending on the situation. Over two-thirds of the U.S. adult population does not have a last will, and for those who do, most Last Wills do not fully cover their situation. Upon death, the only want to make a Last Will valid is to file it in the probate court, a public and normally lengthy process that delays your family access to what you have left behind.

In the world of estate planning, the best outcome for you, your family, and your loved ones will be achieved only by working with a lawyer who encounters estate planning situations daily. You have worked your whole life for what you have and the relationships you have created. Unfortunately, some families collapse after the death of a loved one because they either did no planning at all, or if they did, it was through an online platform that knew nothing about their family or circumstances and that ultimately failed them when their family needed help the most. We encourage a lifelong relationship between you and your estate planning attorney so that you have a lawyer for life to be there for your family when you cannot be.

This is the most often asked question in estate planning, and that is okay – we know the topic of cost is a sensitive one when it comes to choosing a professional to guide you, and we have designed our fees on a flat-fee basis only so that you know exactly what you are committing to – and there are no surprises. While we cannot quote fees online or over the phone, we invite you to check out our upcoming educational events where we teach you things about estate planning you do not even know to ask, plus we will cover during our next event our unique meeting process and fee schedule so that you know exactly how to take the next steps at the best time for you and your family.

Think of a Trust as a “Will substitute.” What we mean is that just as a Last Will distributes your assets upon death, a Revocable Living Trust does the same. The upside of a Trust over a Will is that a Trust need not be filed with the probate court to be effective, whereas a Last Will must be filed with the probate court to have any effect. As a result, a Trust remains a private document pertaining to your private affairs, whereas a Last Will becomes a public document after you pass away no matter how private you were during your lifetime. Of course, there are additional types of trusts as well that serve different purposes, and each family’s unique situation must be taken into account to design the right overall estate plan, which may include one or more Trusts.

No, of course not! After you are gone, your loved ones will miss you deeply – they will long for your words of counsel and concern, and hearing an old voicemail or reading a letter from you again would be a tremendous gift. This has nothing to do with money. Through our unique life and legacy planning process, you can give your loved ones the most precious gift of all – a lasting expression of your love. This is because we believe estate planning is not just about transferring your financial assets and personal belongings. It is equally about capturing and transferring your valuable intangible gifts: your values, insights, stories, and experiences. What could be more valuable? Estate planning is not only for those rich with money. Everyone we know already has an estate as valuable as anything in the world and that they should protect.

Your estate plan works no matter where in the U.S. you might physically be (such as on vacation) or might move to. This said, we always recommend finding your neighborhood Personal Family Lawyer to review your out-of-state plan to help you ensure you make any necessary updates based on differences in state law.

No, a Last Will is limited in how it can protect your children. First, a Last Will is effective only once you pass away and once the document is filed with and accepted by the probate court, but you may have a need long before the moment you pass away to have a guardian for your children. Second, appointing who would raise your children is one thing, while appointing short-term temporary guardians in case of a short-lived emergency is another thing. Your Kids Protection Plan will leave no stone uncovered or contingency unplanned for. You name both short-term and long-term guardians and ensure that everyone you trust has exactly the information they need on-hand at any moment to care for your children.

In the world of kids protection planning, the best outcome for you and your children will be achieved only by working with a lawyer who encounters kids protection planning situations daily. You are here in this world to raise your children the best way you know how, but unfortunately, some families collapse after the death of a parent because they either did no planning at all, or if they did, it was through an online platform that knew nothing about the most comprehensive way to protect children. We encourage a lifelong relationship between you and your estate planning attorney so that you have a lawyer for life to be there for your children when you cannot be.

This is the most often asked question in estate planning, and that is okay – we know the topic of cost is a sensitive one when it comes to choosing a professional to guide you, and we have designed our fees on a flat-fee basis only so that you know exactly what you are committing to – and there are no surprises. While we cannot quote fees online or over the phone, we invite you to check out our upcoming kids protection planning events where we teach you about our unique meeting process and fee schedule so that you know exactly how to take the next steps at the best time for you and your children.

Think of a kids protection plan as one piece (a very important piece) of your overall estate plan, and an estate plan is not simply a Last Will, as many believe. For parents with minor children, you need both the traditional estate plan that every adult needs as well as a kids protection plan that every parent of minor children needs.

There is no one variety of a “special needs trust” and exactly which type of trust is right for your or your special needs child depends on your specific circumstances. Nevertheless, in practically all cases, special needs trusts are designed to be a vehicle by which you can transfer your assets to your child (really, for the benefit of your child) in a way that allows the child to enjoy your assets but also remain qualified for any important governmental benefits based on their special need. Some of these vehicles are revocable, in the sense that you can revisit and revise the terms over time, and some of these vehicles are irrevocable, meaning you have limited or no ability over time to continue managing assets transferred into the trust or modifying the terms of the trust as things change over time.

In the world of special needs planning, the best outcome for you and your special needs will be achieved only by working with a lawyer who encounters special needs planning situations daily. You have worked your whole life for what you have and how you have designed your life to fully support your loving, lovable special needs child. Unfortunately, some families collapse after the death of a loved one because they either did no planning at all, or if they did, it was through an online platform that knew nothing about their family or special need circumstances and that ultimately failed them when their special needs child needed help the most. We encourage a lifelong relationship between you and your estate planning attorney so that you have a lawyer for life to be there for your family – and your special needs child – when you cannot be.

This is the most often asked question in estate planning, and that is okay – we know the topic of cost is a sensitive one when it comes to choosing a professional to guide you, and we have designed our fees on a flat-fee basis only so that you know exactly what you are committing to – and there are no surprises. While we cannot quote fees online or over the phone, we invite you to check out our upcoming educational events where we teach you things about estate planning you do not even know to ask, plus we will cover during our next event our unique meeting process and fee schedule so that you know exactly how to take the next steps at the best time for you and your family.

How much in governmental benefits any particular person qualifies for is person-specific and can change over time as laws change. There is no right answer that applies to all cases, and each special needs child is different. This means that every special needs trust is going to be different as well, and as a result you should work with a qualified attorney (not fill-in-the-blank software or DIY templates) to ensure your special needs child is taken care of exactly how you want.

With all planning that we do, we always encourage our clients to write a “letter of intent” in their own words to describe, in a single document, the important details that will enable the guardian to care for and raise your special needs child exactly how you would. A letter of intent would include your child’s medical and education history; their likes, dislikes and habits; and aspirations concerning their future, including living arrangements, career, and lifestyle. The letter is meant to be a roadmap for the guardian and to minimize disruption during an emotional time of transition.

In short, very likely yes, you can own a fancy car even if you are on Medicaid. In certain states, you are permitted one automobile regardless of value even if you are on Medicaid. This said, as with all governmental regulations, the rules are strict about how you use the vehicle, who has access to it, and more. Because regulations change over time and could drastically impact your personal situation, we always advise you work directly with an attorney to ensure your long-term care and estate plan remaisn up to date and the most protective for your family possible.

Absolutely – elder law planning is broad-ranging and if done improperly, could have devastating effects on your tax liability, the exposure of your assets, and the decisions made on your behalf when you cannot communicate your decisions made for yourself. We would not recommend you go this alone because in the world of elder law planning, the best outcome for you, your family, and your loved ones will be achieved only by working with a lawyer who encounters elder law planning situations daily. You have worked your whole life for what you have and the relationships you have created. Unfortunately, some families collapse after the death of a loved one because they either did no planning at all, or if they did, it was through an online platform that knew nothing about their family or circumstances and that ultimately failed them when their family needed help the most. We encourage a lifelong relationship between you and your elder law planning attorney so that you have a lawyer for life to be there for your family when you cannot be.

Every plan is different and every plan is tailored to your specific circumstances. We know the topic of cost is a sensitive one when it comes to choosing a professional to guide you, and we have designed our fees on a flat-fee basis only so that you know exactly what you are committing to – and there are no surprises. While we cannot quote fees online or over the phone, we invite you to check out our upcoming educational events where we uncover our unique meeting process and fee schedule so that you know exactly how to take the next steps at the best time for you and your family.

A Medicaid trust is an irrevocable trust that you can setup to protect your assets from being seized by Medicaid even though you might receive Medicaid benefits. When a trust is “irrevocable,” that means you relinquish your ownership and control over those assets, although in some cases when drafted properly you can continue to receive the benefits of assets you move into an irrevocable trust. For example, if done right, you can move your home into a Medicaid trust and continue to live in your home. Nevertheless, you never want to hastily establish any type of irrevocable trust without knowing exactly why (and whether) you need it, how it works, what it means for assets moved into it, whether there are any pitfalls to be aware of, and how the assets ultimately pass to your heirs. We encourage you never to do this type of planning on your own.

Elder law is a specialty area of estate planning, so it is both included in proper estate planning depending on your situation and age, and not a substitute for traditional estate planning. With elder law planning, your lawyer helps you plan for retiree benefits, healthcare and long-term care, Medicaid and Medicare coverage, and home care and nursing home care. Ultimately, your elder law planning team of trust advisors includes your lawyer, financial planners, CPA, insurance agents, and other professionals depending on what is appropriate for your situation, and your elder law plan includes both traditional estate planning to avoid probate as well as advanced planning to help protect your estate and legacy as you age.

There really is no right or wrong age to start exploring how elder law planning can benefit you. This said, presume that by age 60 you should start the planning process. The longer you wait in life, the more you run the risk of your assets being exposed unexpectedly, going to the medical industry instead of your family. You may even encounter an unexpected health issue where you lose capacity immediately, meaning your family will start planning for you, if they are able. Each day is a gift, and we cannot predict the future but we can plan for it, so the sooner, the better.

Yes, if you are the owner of a business of any size, you need at least some legal entity that is separate from you. This could include a limited liability company (LLC), limited liability partnership (LLP), or other professional legal entities specifically for lawyers, doctors, etc. No matter the situation or what kind of business you have, the first most important thing you can do to sleep better at night is to ensure you have established a separate legal entity for your business, otherwise your personal assets such as your home, your savings, or your nest egg are at risk of being wiped out if you find yourself in a personal lawsuit related to your business.

In the world of business planning – especially in the world of protecting your personal assets from business liability, the best outcome for you, your family, and your business will be achieved only by working with a lawyer who encounters business planning situations daily. You have worked your whole life for what you have and the business you have created. While financial advisors and CPAs play an important role in your planning, they cannot give you legal advice. Unfortunately, some businesses collapse after the death of the business owner because they either did no planning at all, or if they did, they left gaping holes where they need professional advice. We encourage a lifelong relationship between you and your group of trust advisors (your financial professional, your CPA, and yes your lawyer) so that you can rely an advisory group for life to be there for your family and your business when you cannot be.

This is the most often asked question when it comes to our LIFT planning model, and that is okay – we know the topic of cost is a sensitive one when it comes to choosing a professional to guide you, and we have designed our fees on a flat-fee basis only so that you know exactly what you are committing to, leaving no surprises. While we cannot quote fees online or over the phone, we invite you to check out our upcoming educational events where we teach you what you should know about our unique LIFT planning model and how we help you through each stage of your business: foundation for enough, growth for yield, and foundation for harvest.

S-corp tax treatment is a popular election for many small business owners because of the potential tax savings. To be an s-corp, you have to first establish your business as a limited liability company (LLC) or corporation. The reason you do that step first is because to be an “s-corp” means simply that you are a business entity electing a certain tax treatment; an “s-corp” is not an entity type in and of itself. Once you have established your business as an LLC or corporation with your state, then you can complete the appropriate IRS form to elect s-corp tax treatment. Whether or not you should elect s-corp tax treatment depends on many factors, and before making any decision we recommend you explore the question with your business lawyer, as there is not a cookie-cutter answer as to whether s-corp status is right for any particular business.

Whether you have a job, a side hustle, a practice, a business, or a company that you can sell one day, it can be easy to get lost along the way to becoming the CEO of your life and your business. No matter where your income comes from and how much it is, we know that you want to keep your hard-earned money, and that you cannot afford to keep losing money on the wrong investments, advisors, or simple errors that are easy to avoid when you have clear guidance on your legal, insurance, financial, and tax foundations.

Yes! Any legitimate business expense is deductible, and proper legal, insurance, financial, and tax planning is a legitimate business expense. Of course, check with your CPA for any exact tax rules on how to treat certain types of business expenses. In any event, expenses to get the right LIFT foundation in place for your business is deductible and not subject to personal income tax.