There is beauty in brevity. Less is often more. In my experience, the shorter the document, the more likely it is to be read and understood. In this month’s update, I briefly describe how the inclusion of a short but powerful legal standard in a trust agreement provides significant estate planning benefits. The Ascertainable Standard […]
Earlier this summer, I took a big risk—I took on, and successfully completed, a DIY plumbing project. As often as I advise my clients to seek professional advice, my wife Heather (rightly) notes my hypocrisy in being a frequent visitor to Home Depot and Menards (11% discount!). In my case, the ramifications of an unsuccessful […]
One benefit of being a volunteer coach on your teenager’s sports team is that you realize that it’s not just your teenage son or daughter who has the know-it-all attitude; it is ubiquitous among the teenage demographic. Just as our teenage children, in their less-than-laudable, give-me-a-break dad, eye-rolled responses, seem to look right through us […]
“My estate planning goal is to bounce my last check.” Numerous clients, in jest. Most of the estates we represent hold sufficient assets to pay all the deceased loved one’s debts, including the last check written. In some cases, however, the remaining debts of a decedent exceed his or her remaining assets. Just last week, […]
I am sorry to report that you missed it again this year. A few weeks ago, the 21st annual Frozen Dead Guy Days (the “FDGD” as it is known by the locals) occurred in Morstoel, Colorado. The weekend’s annual festivities commemorate the deceased Grandpa Bredo, whose remains are currently cryogenically frozen in a shed near […]
If you’ve struggled to keep up with the names of the players on your favorite low-budget professional sports team, you would appreciate “Whose on First?,” the classic comedy routine by Abbott & Costello. Confusion over proper roles, titles and responsibilities related to the administration of a trust or estate can similarly arise following the death […]
Administration Timeline Timeframe: Task(s): Beginning of Administration Process “Certificate of Trust” and “Acceptance of Trustee” documents prepared and signed. By April 15 year following death File final income tax return of deceased. As soon after death as may be reasonable Notify social security, V.A. and any institution making payments to decedent. Within reasonable time after […]
“This coordinated lying between us is exhausting, how do criminals manage?” With careful coordination, my wife and I were able to keep the truth about Santa Claus from our children for several years. During that time, neither of us wanted to be the bearer of bad news about Santa to the kids. When they were […]
“Hey honey, you can’t use the microwave now– I have to start a zoom call.” Throughout much of the stay-at-home period in 2020 and into early 2021, my wife and I “suffered” (in a very first-world sense of the word, of course) from a few technology-related issues in our home. Until about six months ago, […]