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Parman & Easterday

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Home » Estate Planning » Page 3

Estate Planning

Millennials Should Take Estate Planning Seriously

December 20, 2022 by Larry Parman, Attorney at Law

estate plan

The millennials are now between the ages of 25 and 40. This is the period during which many people are raising dependent children. When you take on that responsibility, estate planning becomes an absolute must. Unfortunately, far too many people are completely unprepared. Caring.com has been conducting annual surveys that measure the estate planning preparedness of adults in the United States. They have found that less than 30 percent of people that are between 25 and 40 have wills or … [Read more...] about Millennials Should Take Estate Planning Seriously

Filed Under: Estate Planning Tagged With: estate planning for millennnials, Guardianship, living trusts

Common Mistakes in Estate Planning – Part II

December 14, 2022 by Courtesy of Parman and Easterday

When people think about an Estate Plan, they often have tunnel vision and focus on just a few of the many considerations that influence the plan. Most individuals focus on their assets and figuring out to whom they want those assets to pass. While those things matter, thinking about the intended beneficiary and their individual circumstances also matters. Certain types of beneficiaries require additional planning. Read on to learn more. … [Read more...] about Common Mistakes in Estate Planning – Part II

Filed Under: Estate Planning, Legal Education

DIY Wills and the Many Problems That Ensue

December 13, 2022 by Larry Parman, Attorney at Law

DIY wills

There are websites that sell boilerplate legal documents. You fill in the blanks on some type of worksheet or template, and supposedly, you have a valid legal device in hand. Their offerings include DIY wills. We will look at the subject in this post. Estate Planning Unpreparedness Over the last several years, Caring.com has been conducting surveys that measure the estate planning preparedness of American adults. They have consistently found that about one third of people have wills or trusts. … [Read more...] about DIY Wills and the Many Problems That Ensue

Filed Under: Estate Planning Tagged With: DIY wills, estate planning errors, Powers Of Attorney

Good Estate Planning: What It Can Do for You (Part 2)

December 8, 2022 by Larry Parman, Attorney at Law

good estate planning

In our previous post, we looked at a couple of things that good estate planning can do for you and your loved ones. There are so many of them, we have to provide a second installment. Adult Guardianship As elder law attorneys, we are acutely aware of the challenges that people face when they reach advanced ages. Without question, Alzheimer’s disease is at the top of the list. It strikes over 30 percent of people that are 85 years of age and older. There are also other causes of cognitive … [Read more...] about Good Estate Planning: What It Can Do for You (Part 2)

Filed Under: Estate Planning Tagged With: adult guardianship, estate tax efficiency, Incapacity Planning

Common Mistakes in Estate Planning – Part I

December 7, 2022 by Courtesy of Parman and Easterday

Despite knowing that they should have an estate plan, many individuals look for shortcuts to creating an Estate Plan. They rely upon advice from seemingly well-intentioned individuals that if avoiding probate is their main goal and they don’t have a taxable estate, they need not seek out an attorney to create an Estate Plan. While options exist to avoid probate, probate avoidance is just one of many considerations in creating an Estate Plan. Read on to learn more. … [Read more...] about Common Mistakes in Estate Planning – Part I

Filed Under: Estate Planning, Legal Education

Good Estate Planning: What It Can Do for You (Part 1)

December 6, 2022 by Larry Parman, Attorney at Law

good estate planning

Far too many people do not understand the benefits of proper estate planning. If you take the wrong steps, you can leave behind a difficult situation for your loved ones. Worse yet, a complete lack of action can result in disinheritances and worse. In this post, we will look at some of the things that good estate planning can do for you and your family. There are so many of them, we will provide a follow-up post to complete the explanation. Facilitate Smooth Asset Transfers You may assume … [Read more...] about Good Estate Planning: What It Can Do for You (Part 1)

Filed Under: Estate Planning Tagged With: nursing home asset protection, trusts, Wills

More than Just Salad Dressing: The Ongoing Saga of Newman’s Own Foundation

November 30, 2022 by Courtesy of Parman and Easterday

When a famous individual dies, it’s always interesting to see how they set up their estate, if they bothered to undertake estate planning at all. These cases provide great lessons for Estate Planning practitioners both about what to do, as well as about what to avoid. In some cases, even when celebrities take the time to set up a proper estate plan, things go wrong. Paul Newman’s estate represents one such situation. Read on to learn more. … [Read more...] about More than Just Salad Dressing: The Ongoing Saga of Newman’s Own Foundation

Filed Under: Estate Planning, Legal Education

Planning for the “Silver Tsunami”

November 23, 2022 by Courtesy of Parman and Easterday

As the population over the age of 65 continues to grow, unique problems arise. For example, many seniors may have never married, or outlived their spouse and lack confidence that someone will help them make financial and health decisions as it becomes more difficult or when they become incapacitated. A qualified Estate Planning practitioner can provide guidance to address the issues unique to the solo senior. Read on to learn more. … [Read more...] about Planning for the “Silver Tsunami”

Filed Under: Estate Planning, Legal Education

What’s Estate Planning Got to do with Interest Rates – Part II

November 2, 2022 by Courtesy of Parman and Easterday

As interest rates continue to climb, Estate Planning practitioners look to different planning techniques to take advantage of rising rates. Two common estate planning techniques work well in higher-interest rate environments. Read on to learn more. … [Read more...] about What’s Estate Planning Got to do with Interest Rates – Part II

Filed Under: Estate Planning, Legal Education

What’s Estate Planning Got to do with Interest Rates – Part I

October 26, 2022 by Courtesy of Parman and Easterday

Interest rates were at historic lows for many years. Those rates have begun to rise in recent months and may continue to do so. Practitioners need to monitor interest rates in order to advise clients regarding the most effective Estate Planning strategies in any environment. Read on to learn more. … [Read more...] about What’s Estate Planning Got to do with Interest Rates – Part I

Filed Under: Estate Planning, Legal Education

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