Article 112-Estate Planning Series: The Solution is Simple, Until It’s Too Late 

Written by Wright Law on . Posted in Estate Planning, Uncategorized

To satisfactorily discuss a legal issue, I may spend a few columns writing about it.  For example, recent columns have addressed long term care, and there is more on that topic I would like to share with you. 

However, I also try to share real life examples (altered only to preserve privacy) to help illustrate the importance of these issues.  The decisions you make can have very serious consequences. 

Recently, I met with a family dealing with a terrible, unexpected crisis.  A family member had been very seriously injured and will likely spend months – possibly years – recovering.  His cognitive abilities have been seriously affected.  For at least the foreseeable future, he will not be able to make any decisions.  However, legal, financial and other decisions still have to be made.

Article 66-Estate Planning Series: Have You Considered These Options to Pass on the Family Business?

Written by Wright Law on . Posted in Uncategorized

For the last several columns I have addressed critical steps for parents who desire to pass on the farm, ranch or other business to the next generation.  Last column, I gave the example in which one child wants to own/operate the business but the others are not interested.  How do you divide the estate?  One way is to let all the children have a share of the profits but only one child makes the business decisions. 

Article 17-Estate Planning Series: The Risk to Your Estate We Must Start Talking About

Written by Wright Law on . Posted in Uncategorized

The statistics are intimidating.  According to www.medicare.org, seventy percent (70%) of seniors will need some form of long term care.  Neither Medicare nor Obamacare will pay for these costs. Nor will the typical health insurance policy.  Yet the costs for this care can reach, or even exceed, ten thousand dollars a month.

Article 11-Estate Planning Series: How Your Family Can Inadvertently be a Threat to Your Estate – Part 1

Written by Wright Law on . Posted in Uncategorized

Previously, I made the statement that your family can be one of the biggest threats to your estate.  The reality is, even if they do not intend to be, the actions or the decisions of your spouse or children or spouse can dramatically impact whether your estate is passed on the way you desire.

Article 6-Estate Planning Series: The Risks of Using a Form to Create Your Will or Trust

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Last week, I started to explain the difference between a Will and a trust.  I will talk about this a great deal more in the coming weeks.  First, it is important to address why all Wills or trusts are not created equal; and why the use of a form can actually endanger your estate plan.  Having a Will or trust does not automatically mean that document is going to accomplish what you want.  And an ambiguous Will or trust creates its own significant set of risks.

Article 5-Estate Planning Series: The Law You Need to Know Before Signing a Will or Trust

Written by Wright Law on . Posted in Uncategorized

Last column I explained how people can inadvertently give up control of what they spent a lifetime building.  These mistakes occur when people don’t understand what their Will or trust can do (or not do), or make decisions based on misinformation.  Understanding some fundamental legal concepts will help you maintain control of your estate with a cohesive, comprehensive plan.

Article 2-Estate Planning Series: Think You Don’t Need an Estate Plan? Here’s Why You’re Wrong.

Written by Wright Law on . Posted in Uncategorized

Recently, a young mother told me, “We haven’t done our estate planning because we don’t have an estate.  All we have is a house with a mortgage, two cars with loans and very little in the bank.”  She thought that was the extent of her “estate,” and saw no need to spend the time or money to create a plan for it.

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