The Lee Law Office

CONSEQUENCES OF NOT HAVING AN ESTATE PLAN Every few months or so I post about the importance of having an estate plan. This time, however, I am going to talk about what happens when you do not have one. This applies to everyone 18 years of age and older. A comprehensive estate plan consists of documents that cover you during your lifetime and distributes your property after your death. The basic documents that operate during your lifetime are: power of attorney (POA) (both f...Continue reading

Ok so, there are now reports to add Chadwick Boseman to the list of people who did not have a will (because his wife filed to have a probate court name her as the administer of his estate. However, wills have to go through probate court, also-so the report may not be accurate). BUT, I am sure that there are still many, many people out there that do not have any kind of estate planning documents. Don't know where or how to start the process?? Contact me at (816) 462-5649 or (602) 281-4692 or [email protected] and let's have a conversation. This is something you really should not put off!!!

Estate Planning Awareness Week The third week of October is Estate Planning Awareness Week. According to a 2019 survey by Caring.com, 57% of adults in the United States have not prepared any estate planning documents despite the fact that 76% viewed it as important. While many people just procrastinate, others mistakenly believe that they do not have any assets. During this week, it is a great time to focus on the importance of having these documents prepared. Ask yourse...lf these questions: Do you have a last will and testament and/or a trust? If you do not have these important documents, state law will determine who will inherit your propertyand thus it may not occur in the way you would have chosen. Do you have a proper power of attorney for financial/business or medical? A financial power of attorney will allow you to designate an individual to make financial and property decisions for you should you become unable to handle your own affairs. Do you have a medical advanced directives, also called a living will and/or health care surrogate, which memorializes your wishes concerning your end of life care, If you answered NO to any of the above questions, consult an estate planning attorney, who can help you and your family members create an estate plan tailored to meet each of your unique needs or help you update a pre-existing estate plan. "Take time today, to prepare for tomorrow".

The Coronavirus (COVID-19) Pandemic has impacted every corner of the world at this point. It has changed the ways in which we gather with family and friends, the way in which we gather for worship, the way in which we work, grocery shopjust about every aspect of our lives. I am praying that each of you are safe and taking all necessary precautions to remain so. However, some have not been so fortunate as lives have been lost suddenly and unexpectedly. As estate planning spe...cialists, my colleagues and I would be remiss if we didn’t take the time to remind our clients and friends of some important considerations during these uncertain times. At this point, here are some steps to take to ensure that your estate planning affairs are in order: (1) Review your existing estate planning documents (especially if the documents were prepared more than 3-5 years ago) to ensure that they are up to date and reflect your current wishes. Take note of any major changes that may have occurred in your family since you last updated your estate plan. (2) If you do not already have an estate plan, now is as good of a time as any to consider having these documents prepared. Having a financial durable power of attorney, a healthcare power of attorney, an advance medical directive (living will), and a will/trust in place can certainly contribute to a healthy state of mind. (3) Reach out to your financial advisor, financial institutions, insurance advisor, etc. to make sure that your beneficiary designations are up to date. (4) Follow up with your loved ones. Make sure that your loved ones know if you have appointed them to any role in your estate plan. This includes your executor (i.e. personal representative under your will, or trustee of your trust), guardian for your minor children, attorney-in-fact under your financial durable power of attorney, and patient advocate under your health care power of attorney. I hope that by taking these steps, you are able to ease anxiety and find solace in knowing that you have planned ahead and addressed your risks and concerns. As always, I am available and willing to assist you in any way I can.

Ahhh...today of all days.....can I get some love????