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The Richard J. Lee Law Group will help you navigate legal matters with expertise and experience, all the while taking your worry and concern out of the equation. We specialize in Estate Planning, Probate & Trust Administration, Small Businesses, and Non-Profit Organizations.

Are your loved ones protected with a revokable living trust?

A revocable living trust is not primarily for the benefit of the trust creators (“settlors”), and instead are for the benefit of the beneficiaries of the settlors. This is because the property in the trust is still the property of the settlors and creating and funding a trust does nothing to fundamentally change that. The settlors are still the owners and primary beneficiaries of all trust assets while they are alive. The settlors can still sell or encumber the real property in the trust and sell, exchange, or redeem securities in the trust.

> Learn how easy it is to be prepared.

Correctly prepare life insurance and retirement accounts now.

When creating an estate plan, several documents and decisions are involved. An important decision is to decide which assets are being held by the trust and what assets aren’t being held in the trust. Retirement accounts and life insurance are generally not in the trust.  Retirement accounts can’t be, and life insurance is generally not owned by the trust. Both pay to a beneficiary, which may or may not be the trust.  Failing to designate a beneficiary, or failing to make sure your beneficiaries are accurate and updated,  can have severe negative consequences.

> Avoid unnecessary expenses for the future.

Have you kept your estate plan documents up-to-date?

If you had a trust and related estate plan documents prepared more than a few years ago, you should consider having them reviewed and updated if necessary.

You should consider the persons you have designated to take care of your children if something happens to you and your spouse and make sure they are still your choice.  You should consider the persons you have appointed to make health care decisions for you and make sure that they are still able to serve, and that their contact information on your Advance Health Care Directive is correct.   You should also make sure that all of your assets are titled in your trust and that the beneficiary designations on accounts such as IRAs and life insurance are still correct. 

> It’s easy to have your plans reviewed at no charge.

Read all of our articles that will help guide you in planning for the future.

“We generate fears while we sit.
We overcome them by action.”

— Dr. Henry Link