6 Things the State Decides If You Never Make a Plan
If you do not make an estate plan, you do not “skip” planning. You just hand the pen to the state. In Arkansas, the law has default rules for health choices, money control, funeral choices, and who gets what after you die. Those rules try to be fair. They also stay generic. Your family is […]
Why You Shouldn’t Name a Minor as Beneficiary (Video)
Why shouldn’t you name a minor as a life insurance beneficiary or retirement account? I’ve got to talk a young, distraught mother in a few days about that very question. Her 4 year old child’s father named the child as the beneficiary of his life insurance policy. Dad was trying to do the right thing, […]
Another Reason to Not Put Children on Your Deeds or Accounts [video]
When you put somebody else’s name on the deed or account their problems become your problems and that can cost you your home and money! Here’s another reason not to put your children on the deed or the bank accounts. I’ve spoken in the past of the dangers of putting your children’s name on the […]
Estate Planning Mistake #2 – Failing to Address Your Healthcare
Estate Planning Mistake #3 – Failing to Leave an Inventory for Loved Ones
What Happens When You Die…Without an Estate Plan?
What Happens After You Die…Without a Plan? Jill has two children one of which she hasn’t spoken to in 20 years and the other of which takes care of her. At Jill’s funeral, the estranged daughter shows up and demands her piece of mom’s estate. Because Jill didn’t have a plan in place, Jill’s estranged […]
10 & ½ Reasons Estate Planning is a Total Waste of Your Time
Here are 10 reasons, & a half, that estate planning is a total waste of time for you. (Warning: satire ahead) You Are Going to Live Forever Congratulations, starting today, you have been chosen to know your exact date and time Until then you will never be sick. No accidents. No incapacity. No dementia. You […]
Should You Add Your Child to the Title of Your House? (Video)
If I add my child’s name to the title of my house, wouldn’t that be the easiest way to avoid probate and transfer it quickly after I die? The short answer: NO! Here’s the scoop When you put your child’s name on the deed to your house, you are making a gift to them. You’re […]
When Should I Create My Estate Plan? (Video)
Hi. I’m Gary the owner of DeWitt law. We take care of you so you can take care of your family. Start now at DeWitt dot law. Let me start by asking another question… When is the best time to plant a tree? The best time to plant a tree is 20 years ago. The […]
How Does Estate Planning Protect My Money? (Video)
How Does Estate Planning Protect My Money? If you put somebody else, like a child, on your accounts or house, then their creditors are your creditors too. If they get in an auto accident and get sued, then you get sued too. If they get in tax trouble, then it’s your tax trouble too. Proper […]