Reading Consumer Reports this week, I learned the difference between hot cocoa and hot chocolate. Hot cocoa will generally include much less natural cacao fat—also called cocoa butter—than would hot chocolate. Hot chocolate is therefore a richer sensory experience. Most prefer the richer sensory experience. You can make either at home, but you will have …
It dawned on me the other day that, while I know what a Will is, maybe some of you do not. Therefore, in this brochure I will attempt to explain what a Will is and what the requirements are for one to be valid. A testator is a person who leaves a Will in force …
A well-crafted, up-to-date estate plan will help to protect you and your family. Yet, Forbes reports that nearly half of adults over the age of 55 do not even have a will—let alone a comprehensive estate plan. 55 is not a magic age, as there are many families that start much younger and need estate …
After reading a story about a grandmother who lied to a court (did not disclose she had been convicted of theft 4 times) in order to be appointed Guardian and Trustee. Then proceeded to embezzle $50,000 from her granddaughter (she spent granddaughter’s life insurance proceeds on beer, liquor and cigarettes), I thought it would be …
Everybody thinks it won’t happen to them. Or rather, everybody knows it’s going to happen to them eventually, but nobody thinks it’s going to happen tomorrow, or next week, or even next year. The “it” of which I speak is, of course, death. It is this perceived immortality that allows so many people to put …
Continue reading “The Comfort That Comes With Planning Ahead”
As hot as it is this summer, this maybe a good time to reorganize the closets, clean out those old files in the cabinet, and get rid of all those boxes in the garage. Call it “Extended Spring Cleaning” if you will. Anytime someone “Spring Cleans” seems to be a good time to take stock …
The New York Times has an interesting article on the value of an art collection in estate planning. That’s not something most people think about. After all, most people aren’t serious art collectors. Even among those who are, these collections usually exist more for personal satisfaction than financial gain. “Art investors are nearly …
Continue reading “Art and Sentimental Items in Estate Planning”
Do I probate my spouse’s Will? YES! A common misconception is that you do not have to probate a Will when your spouse dies. Real estate, like automobiles, is titled to convey ownership. The title defines who has legal rights to a property and it must be transferred when the property is sold. Title issues …
LegalZoom and other do-it-yourself document preparation services want you to believe that the process of preparing a Will is as easy as filling in the blanks on standardized forms. They try to lure you with a cheap product and a process that takes less than half an hour to complete. They try to assure you …
I have never been a fan of Reverse Mortgages. Reverse mortgages, usually obtained from financial institutions, allow people who are at least 62 years of age to convert their home equity into cash, which is received by the homeowner either as a lump sum, a line of credit, or monthly payments. The loan becomes due, …
Continue reading “ESTATE PLANNING WITH PRIVATE REVERSE MORTGAGES”
