It is most common for parents to create estate plans with roughly equal bequests. For instance, they may divide financial assets equally among their adult children or leave property—like a vacation home—to all of them jointly, making them co-owners. However, it’s...
Estate Planning
Have you thought about an ethical will?
On Behalf of Newman Law Group | Jan 2, 2025 | Estate Planning
While estate planning is largely about assets, there is much more to it than this. Once you pass on, you probably want to leave more than assets behind. What about life lessons and values? How can these be passed on? One answer is by drafting an ethical will. What...
How to plan for end-of-life care
by [email protected] | Dec 11, 2024 | Estate Planning, Powers of Attorney
No one wants to think about their own passing, but if you want to have control over your last days, planning for end-of-life care is essential. Regardless of your health status right now, a solid plan can give you peace of mind, protect your last wishes from...
Can your final wishes on a napkin hold up in court?
by [email protected] | Nov 25, 2024 | Estate Planning, Wills
Movies often portray dramatic deathbed scenes where hastily written wills determine the fate of fortunes. This romanticized image might lead you to believe that any scribbled note can dictate your final wishes. But the reality of legal proceedings is far less...
Choosing an executor? Here are some traits to look for
On Behalf of [email protected] | Nov 18, 2024 | Estate Planning
Selecting an executor for your estate demands careful consideration. This individual will manage your assets, pay debts, and distribute property according to your wishes after your death. Executors carry hefty responsibilities. Their tasks could become even more...
Estate planning steps to take when you have a terminal illness
On Behalf of Newman Law Group | Oct 22, 2024 | Estate Planning
Facing a terminal illness is devastating. It can be hard to focus on anything other than your condition, but taking proactive estate planning steps can bring peace of mind. Here are some essential steps to consider after receiving a terminal diagnosis. Review and...
Irrevocable trusts are beneficial but can have disadvantages
On Behalf of Newman Law Group | Oct 21, 2024 | Estate Planning
While irrevocable trusts can be powerful estate planning tools, they come with certain drawbacks that should be carefully considered. Understanding the risks can lead to an informed decision about whether an irrevocable trust is right for your situation. If you are...
Do you need a digital estate plan?
On Behalf of Newman Law Group | Oct 8, 2024 | Estate Planning
Have you ever stopped to consider how much of your life is spent online? In 1994, there were about 3,000 websites compared to the 1.1 billion 30 years later. The internet has revolutionized the way we live, so it should also revolutionize the way we approach estate...
Business succession planning doesn’t have to be equal
On Behalf of Newman Law Group | Sep 23, 2024 | Estate Planning
Creating a business succession plan gives you a chance to think about how the next generation is going to carry on your legacy at the company. Not only do you want what’s best for your family members, who may be taking over that company, but you’re also looking out...
Key tips for business succession planning
On Behalf of Newman Law Group | Sep 10, 2024 | Estate Planning
For business owners who are looking into estate planning, business succession planning may also be necessary. This creates a plan to pass the company ownership on to the next generation. This may be done when the business owner passes away, but it will often be done...
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