FAST FACTS It's important to update your estate documents frequently, especially your financial power of attorney. Even if your documents are current and updated for five years now, once your financial power of attorney is three and a half years old, banks won't honor it. Today's video is going to be about updating your financial power of attorney. A son brought his mother in, and there were some pretty big problems going on at the bank. Not only did the mother need someone to help her in … [Read more...]

FAST FACTS A will or revocable trust can be challenged or contested. The party will be able to file a petition with the probate court. While we generally try to avoid probate, the choice is up to you. And if it makes a difference between owning 50% and 100% of an asset, it could be worth contesting a will. Today's video is going to be about contesting a will or challenging revocable trusts. It's a good question, because I have had several people ask me whether suing over things like an … [Read more...]

FAST FACTS Update your estate plan when it's necessary. You may not pay a price today for missing estate planning updates, but you will pay a larger price down the road. While you don't have to update your estate plan, the same way you don't need to get your oil changed, it's strongly recommended. Today's video is going to be about updating your estate plan. I like to think of it as a statement and a question, "When should I update my estate plan?" or, "Update or else." And to start of I'd … [Read more...]

FAST FACTS Non-children, organizations, and friends as beneficiaries are all possible options when splitting your assets. You can give a nominal amount of money or a percentage to each person. Be mindful that giving a percentage may leave an undesired amount of money to some, if final asset amounts change in the future. Today's video is going to be answering the questions, "Is it possible to have organizations, non-children, or friends as beneficiaries? And how should I leave money and … [Read more...]

FAST FACTS You should leave an inheritance to your grandchildren if possible. You can give a nominal amount of money to each person, or an equal percentage to each person. Be mindful that giving an equal percentage to each person may leave one root of the family with more of an inheritance than the other depending on how many people are on that side of the family. Today's video is going to be answering the questions, "should you leave an inheritance for your grandchildren? Should you … [Read more...]

FAST FACTS Understanding how to avoid probate can save you time, money, and frustration. Rules in probate court are different across different counties. Some counties have rules and requirements other counties don't have. You can protect yourself from probate court with a trust. Normally, this is something that my staff and I talk about. But, today's video is going to be answering the question, "why do I and my staff hate probate?" I'll also cover why you should and how to avoid probate … [Read more...]

FAST FACTS Knowing when and if you have enough money to last until you die is a vital question to your happiness and financial freedom. Your budget, portfolio projections, wants, needs and wishes are all factors in deciding how much money is enough. Simulating scenarios on your money can give you a good idea on the survivability of your money. Today's video is going to be answering the question, "how much money is enough money? How can I know when and if I have enough money and won't run … [Read more...]

FAST FACTS A trust is writing your intentions on a piece of paper so someone gets rights and benefits. A trust can protect real estate, bank/saving accounts, investments, business interests and notes payable to you. Trusts are not just for rich people, they are a powerful and necessary tool. Today's video is going to be answering the question, "What is a trust?" We're not going to be talking about the difference, necessarily, between a will and a trust. We're going to be talking … [Read more...]

FAST FACTS The average age of farmers in the U.S. is 58 Around half of U.S. farmers don’t have any estate plan The USDA predicts that 70% of farmland will change hands by 2037   Farmers face unique circumstances for estate planning, requiring them to take extra precautions compared to the average family or business. Individuals with agricultural operations or other large land-based holdings will be among the most likely groups who wouldn’t consider themselves “wealthy” … [Read more...]