WHAT’S NE The past few months have been really busy. Between court hearings and traveling, it’s been nonstop. So, why am I traveling to different trainings? It’s because I want to be a better leader in the community so I can better serve my clients.
RELYING ON A WILL ALONE (PART 2) THE REAL COST TO YOUR FAMILY
A WILL OFFERS NO PROTECTION AGAINST INCAPACITY
cash could cause serious problems for someone with poor money-management abilities and/or addiction issues.
A will helps ensure your assets are properly distributed when you die. But it offers no protection if you become incapacitated and are unable to make decisions about your own medical, financial, or legal needs. Should you become incapacitated with only a will in place, your family would have to petition the court to appoint a guardian or conservator to manage your affairs, which can be extremely costly, time-consuming, and traumatic. Passing on your assets using a will leaves those assets vulnerable to several potential threats. If your will distributes your assets to your beneficiaries outright, those assets are not only subject to claims made by a beneficiary’s creditors, but they are also vulnerable to lawsuits and divorce settlements the beneficiary may be involved in. And, if assets left via a will pass to beneficiaries without any conditions, those assets are susceptible to the beneficiary’s own poor judgment. For instance, a sudden windfall of A WILL DOESN’T PROTECT AGAINST CREDITORS, LAWSUITS, OR POOR DECISIONS
NOT ALL ASSETS ARE COVERED BY A WILL
Some assets can’t even be included in a will. For example, a will only covers assets or property owned solely in your name. It does not cover property co-owned by you with others listed as joint tenants, nor does a will cover assets that pass directly to a beneficiary by contract, such as a life insurance policy or retirement account. Though a will is an integral part of your estate plan, a will is almost never enough by itself. Instead, wills are often combined with other planning vehicles, such as living trusts, and other nonprobate assets, to provide a level of protection devoid of any gaps or blind spots. And here’s the thing: If your plan is incomplete, it’s your family who suffers, having to clean it all up after you are gone. As your lawyer, we will empower you to feel confident that you have the right combination of planning solutions for your family’s unique circumstances. Schedule a Free Estate Plan Review today to get started. DON’T LET YOUR PLAN FALL SHORT
• Pictures Daycare Abuse
Attorney Russell Button from Dallas, Texas and School Law Attorney Scott Swier from Avon, South Dakota
• Edward sitting on the Hayden Butte Preserve in Tempe, Arizona, with
some like-minded business owners, including my friend Tom Foster
Where’s Kyzlee? She’s enjoying tons of candy from Halloween. Check out her costume! Kyzlee is being thankful and making sure she’s on Santa’s “good list.” Be sure to check out the Live Nativity at the Starkdale Presbyterian Church. The Live Nativity is arranged to present the Good News to all. It is a meaningful opportunity to learn about the real Christmas story.
LOCAL BUSINESS SPOTLIGHT VINCE DOWDLE & ASSOCIATES LLC
157 Fairplay Rd., Bloomingdale, Ohio 43910
Dowdle & Associates has been in business since 1991 in Ohio, and since 2001 in West Virginia. They take surveying seriously and take great pride in getting the jobs done right. Dowdle & Associates can handle your surveying, high-definition scanning, and drone mapping needs. Call them at 740.944.1943.
This newsletter is for informational purposes only and no legal advice is intended. Be sure to consult with this law firm if you have a specific question about your situation. And, remember Edward and Jeff don’t take any unplanned inbound telephone or in-person meetings. We believe each case deserves our undivided attention.
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