Why don’t I just put my children’s name on everything?

Having another person’s name does make it easier for them to pay the bills and manage money for you.  BUT they have complete access to your money.  As a joint owner, they have the right to use the money for their own purposes. WORSE their creditors have access to your money. A safer strategy is […]

Can’t my spouse make my medical decisions?

It is a common misunderstanding that your spouse automatically has the power to make your medical decisions. If you don’t have a healthcare power of attorney in place, your spouse may have to go to court to get permission to make healthcare decisions. You can stop that from happening by setting up a Healthcare Power […]

Estate Planning Academy Episode 17: Smart 911

Free Service A part of elder law includes services to aid and protect older people. Smart 911 is a service provided by the state of Arkansas to its residents. Hard of Hearing? Most Important Most importantly, you can add a list of emergency contacts that that 911 dispatchers and personnel can contact your family and […]

Estate Planning Academy Episode 15: 8 Steps to a Plan

Step 1: Education You have already taken this step by requesting my book and watching this video series.  Hopefully by now, you understand the need for estate planning and the value it brings to your life. Step 2: Meeting Step 3: Homework Step 4: Review Homework with Planner Schedule an appointment and go over your homework […]

Estate Planning Academy Episode 14: Why Doesn’t Everybody Have a Plan?

Lack of Understanding Procrastination Expense Complexity Planning only has to be complicated and complex if you work with the wrong planner. Not Knowing Where to Start Your first stop should be with an experienced planner that can walk you through the process and help you gather documents.  And, continue watching this series.

Estate Planning Academy Episode 13: I have a Revocable Living Trust, Now What?

RevocableLivingTrust

The Biggest Mistake The biggest mistake I see with a revocable living trust is creating it, doing some funding, but not finishing the job… Just because you have a Trust, doesn’t mean it is a setup and forget thing A Trust is a “living” document.  In addition to the initial setup, a Trust needs to […]

Estate Planning Academy Episode 12: Choosing Between a Will and a Trust

Do you have children (or a spouse) with substance abuse issues? A trust can keep the money out of their direct control.  You can add conditions that their rent and utilities are paid directly to the landlord and utility companies.  And, you can add in a condition that if they are clean and sober, they […]