Even Tom Brokaw Doesn't Know What's in His Estate Plan...

Savings Bonds - How These Often-Overlooked Investments Could Be Quite Valuable

Over $9 billion worth of savings bonds and $200 million in registered Treasury securities haven’t been cashed in by the owners, according to treasurydirect.com. Why is so much money simply in limbo? Well, many clients who purchased savings bonds decades ago, may have even forgotten that they purchased the bonds, or they received them as a gift from a relative and may have the bonds stashed away in a random cabinet or closet.

To learn more, check out my blog:
https://insightlaw.net/bobbys-blog/savings-bonds-a-hidden-gem-in-your-estate

What Will Be Your Facebook Legacy?

Facebook is now giving users the power to name a "legacy contact" who will be empowered to manage your profile after you pass away. In a sense, they're like a “Techexecutor.” The obvious benefit is allowing you to determine who manages your Facebook page. The current policy was for Facebook to simply freeze the account, which caused frustration and emotional stress for loved ones. 

Legacy contacts will have the power to write a post to display at the top of your memorialized profile page, change the profile picture, and even respond to new friend requests on your behalf. If they’re granted prior permission, legacy contacts can also download an archive of posts and photos from the deceased, but not the contents of his or her private messages.

To learn more, check out my blog here.

3 Mistakes Many Executors Make...And How to Avoid Them

I recently published a blog talking about three common mistakes that new executors make quite often. I want to help ensure executors avoid these preventable mistakes since these errors can have costly consequences. Check out the blog here:

3 Common Mistakes Executors Make and How to Avoid Them

Lessons to Be Taken from the Feud Over Robin Williams' Estate

I recently published a blog on the legal battle between the late Robin Williams' wife and children over many of his personal items and property. According to Mr. Williams' estate plan,  his Tiburon home went to his wife. However, her attorney contends that the home should not be “stripped” of the things inside of it, which Mr. Williams' estate passes on to his children. On the other side, Mr. Williams’ children argue they are entitled to the personal items which include a watch, some of Mr. Williams' suits, his awards, and so forth.

Is there a way to limit the risk of litigation occurring with your estate plan? Yes. Learn about some of those strategies by reading my blog...

http://insightlaw.net/bobbys-blog/the-williams-family-feud-lessons-for-estate-planning

You Need to Be Prepared for Long-Term Care

Many people who have an estate plan fail to properly address long-term care planning. By "long-term care," I mean care at a nursing home or similar facility. Such care is expensive, routinely costing over $100,000 per year. If you don't have long-term care insurance, you will either have to devote a substantial portion of your retirement funds to paying for the care, or you can properly allocate your assets so you qualify for Medicaid without having to be virtually broke.

Check out this article for more info:
 http://insightlaw.net/bobbys-blog/proper-medicaid-planning-is-essential-for-long-term-care

Estate Planning Truths Revealed

An article was published by the President of the National Network of Estate Planning Attorneys that revealed some important truths about the field of estate planning. Check it out here:

http://insightlaw.net/bobbys-blog/estate-planning-hard-truths

Estate Planning 101

Below is a video that provide important tips and guidelines on proper estate planning. If you like this video, check out my firm's blog here.

Living with Alzheimer's - A Devastating Disease

The video below was produced by ABC News featuring a 12-minute virtual "Alzheimer's tour." The tour provides a glimpse into what life is like with this awful disease. For more info, check out this blog I published on my firm's site: https://insightlaw.net/bobbys-blog/the-long-goodbye-living-with-alzheimers-and-why-you-need-an-estate-plan

Message to Small Business Owners - Important Tips on How to Limit Your Liability Exposure

It happens all too often - a small business is formed, but the owner of that business treats it like a hobby and fails to do any diligence in setting up separate accounts, following corporate formalities, etc. The result? If the business goes south, a court could "pierce the corporate veil" and hold that owner personally liable for all of the debts of the business.

For more info, check out this article:
https://insightlaw.net/bobbys-blog/limiting-exposure-to-liability-critical-for-small-business-owners

Tips to Protect Your Deceased Loved One's Identity

Identity theft is becoming a serious problem in our society. Millions of people discover opened accounts, loans and credit card debt that they never knew existed on their credit report. To make matters even worse, crooks don't prey solely on the living. Millions of people have their identity stolen beyond the grave. Criminals review the obituaries in the newspapers to target the recently deceased and try to steal their identities. I published an article recently with some important tips that can help protect your deceased loved one's identity. Here's a link to the article:

http://insightlaw.net/bobbys-blog/how-to-protect-your-deceased-loved-ones-identity

State Taxes - An Important Factor in Estate Planning

I recently published a blog about the importance of being prepared for potential state tax ramifications in your estate plan. So many people focus on the so-called "death tax" of the federal government but neglect the tax hit that their estate may take on the state level. Check out the blog here:
 
http://insightlaw.net/bobbys-blog/estate-planning-tip-watch-out-for-state-taxes

Robin Williams' Estate: Example of Using a Living Trust

Robin Williams didn't rely exclusively on a will for his estate. He decided to use a living trust and put in place specific provisions to ensure his money isn't squandered by grieving beneficiaries who may not make the best financial decisions during this tough time.

To learn more, check out my blog here:

http://insightlaw.net/bobbys-blog/no-will-hunting-robin-williams-used-a-living-trust

Unintended Beneficiaries - How to Make Sure Your Estate is Protected

Don't let an ex-son-in-law or ex-daughter-in-law get a portion of your hard-earned assets. Unfortunately, a traditional will exposes your assets to such a scenario.

A simple strategy to avoid this from happening is setting up a revocable living trust. One of the most attractive features of trusts is that they can be set up to serve a variety of different circumstances and achieve different objectives. In fact, trusts are routinely utilized for gifting, asset management, tax protection, and as a shield against creditors and/or civil lawsuits. Trusts can be established while you are living, or they can be included in a will with a stipulation that the trust is to be established after your passing.

To learn more, read the full article here:
http://insightlaw.net/bobbys-blog/protecting-your-assets-from-unintended-beneficiaries

The Awkward Convo You Need to Have With Your Loved Ones

It's not easy and can be extremely uncomfortable, but you need to approach your parents about the subject of inheritance. Also, if you have children, you need to sit down and talk to them about your estate plan. Why? Because having your loved ones on the same page when it comes to how your estate (or your parent's estate) will be distributed will reduce the risk of litigation, agitation, and stress. To learn more, check out this article:

http://insightlaw.net/bobbys-blog/having-that-awkward-conversation-family-inheritance

LegalZoom Embroiled in Lawsuit Over Flawed Documents

LegalZoom has grown in popularity over the years by offering cheap, stock legal documents. They sell their services as being just as effective as hiring a lawyer. Well, turns out that really isn't the case. The company is now embroiled in a lawsuit because of preventable flaws in some of their documents. To learn more, check out this article:

http://insightlaw.net/current-events/legaldoom-cookie-cutter-estate-planning-site-legalzoom-being-sued-for-flawed-documents

5 Important Estate Planning Tips

Drafting an estate plan from scratch can be a daunting task. That's why I published an article with 5 important tips on how to get the process started. I targeted people under 40 since so many young people neglect getting their estate in order until they're much older. You're putting yourself at risk if you don't sit down and take the time to plan your estate. Having a well-crafted estate plan will help your family and loved ones when the time comes to use it.

Here's a link to the article:
http://insightlaw.net/bobbys-blog/under-40-top-5-tips-for-getting-a-jump-on-estate-planning?doing_wp_cron=1405706402.3413279056549072265625

Estate Planning Tip - Where To Add Your Burial Rites

It's something many people don't think a lot about - how and where they will be buried. Even if they do think about this issue when drafting their estate plan, the issue of where to place such information is not very clear. I wrote a blog about this topic. Check it out here...

http://insightlaw.net/bobbys-blog/burial-rites-add-to-your-health-care-proxy-will-or-both

Great Summary of the Virginia Real Property Transfer on Death Act

A new estate planning tool went into effect on July 1, 2013 under the Virginia Real Property Transfer on Death Act. This law allows an owner of real estate to make a Transfer on Death designation by recording a Revocable Transfer on Death Deed in public land records. This article below features 8 important developments in this recently enacted Virginia law:

http://wordsofconveyance.com/2014/05/29/revocable-transfer-on-death-deed/#comment-156

Planning for Possible Mental Incapacity is Important

I published an article recently about the heartbreaking state of affairs for Casey Kasem and his family. Mr. Kasem is struggling with a form of dementia and his loved ones are embroiled in a legal battle over who should take care of him. Learn more here:

http://insightlaw.net/current-events/casey-kasem-legal-battle-illustrates-the-importance-of-preparing-for-a-loved-ones-incapacitated-state