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3 Things You Must Do Before You Go on Vacation

1. Make sure you have funded your living trust. Have you transferred your assets to your living trust? If not, your assets may have to go through probate. 2. Review your Role Players - Guardians, Successor Trustees, Health Care Agents and Durable Power of Attorney Agents. Do you still want those people having that authority over your children, your assets and your health care? For many of our clients, the people they…

How to Amend Estate Plan After Death

Believe it or not, an estate plan can be amended after death. Huh? This is not about conjuring someone up from the dead. It's about a Disclaimer. If you are a beneficiary of someone's estate, you can say "Thanks, but no thanks," and your inheritance can skip you and go to your children. This is called a disclaimer. A disclaimer must be in writing signed and notarized by you within nine months…

Is that success?

Over at the law firm site, I've written a post about success. What is it? And are those successful people you read about and follow really successful?

Your Success

I read a lot of business books and biographies. After I get over the buzz of how exciting the business or person is or was, I’m struck by the question would I really want to be like him or her? Big success in business (or in anything for that matter) comes with a price. The price is often a sacrifice of one’s family and life. The entrepreneur’s spouse and kids have money and things, but they don’t know the entrepreneur because he or she is always working.

When to Give Your Children Their Inheritance?

What age should your children receive their inheritance if you and your spouse die while they are young? This is as much a question for a veteran estate planning attorney as it is for an experienced parent. Your children can't own assets until they are 18. But do you want them to have compete control of their inheritance at 18? Remember when you were 18? So from age 18 until age x,…

Fund Your Living Trust

I can say this every day and it may still not be enough. Make sure you fund your living trust. This means transferring title of your real property, bank accounts, investment accounts and business to your living trust. One of the main reasons you created your living trust was to avoid probate. You may have the best living trust in the world, but if your assets have not been transferred to it,…

Are you working like its 1980?

The world is not what you were taught by your parents, teachers and employers. We are beginning to see what researchers have known for years, that what motivates us is not incentives and consequences, but self determination. Daniel Pink writes about this in his excellent book, Drive.

In addition, we may be structuring our work as if it was still the 1980s, because our industry still does it that way and our teachers and bosses still think that way. Professionals like lawyers are especially guilty of this. Most lawyers and law firms still organize their work and delivery of services to their clients like it was done 30 years ago, although maybe with more email.

Are You Working Like It’s 1980?

The world is not what you were taught by your parents, teachers and employers. We are beginning to see what researchers have known for years, that what motivates us is not incentives and consequences, but self determination. Daniel Pink writes about this in his excellent book, Drive. In addition, we may be structuring our work as if it was still the 1980s, because our industry still does it that way and our…

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