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Top 5 Mistakes When Working With an Estate Planning Law Firm

Tue, 18 Nov 2025 13:53:11 GMT

Working with an estate planning lawyer early can help you spot blind spots before they become costly. At Zellar & Zellar, Attorney at Law, Inc., we’ve seen how the right estate planning firm can clarify goals, align documents, and reduce family conflict. Whether you’re drafting your first will or refining a complex trust, an estate planning firm can help you coordinate assets, update beneficiaries, and prepare healthcare directives that reflect your values. If you own a small business, hold retirement accounts, or care for aging parents, estate planning ensures these moving parts fit together. And for families with college-age children or blended households, an estate planning lawyer can set up powers of attorney and guardianship plans that stand up when life changes. This guide covers the top five mistakes Newark, OH, residents make when creating an estate plan—and how a trusted estate planning law firm in Newark, OH, can help you avoid them from the start.

Leaving Your Will or Trust Outdated

Your estate plan is a living set of instructions, not a one-and-done document. It needs attention whenever your life shifts.

A common error is letting years pass without revisiting your will or trust. Life events in Newark, OH, like marriage, divorce, the birth or adoption of a child, a new home in Licking County, selling a business, or the death of a beneficiary—often change what “fair” or “wise” looks like for your family. If your plan reflects who you were a decade ago, it may no longer match your relationships, assets, or intentions today.

Consider how outdated documents create friction:

Children become adults with different needs or financial habits.
Guardians named for minors move away or no longer wish to serve.
A trusted friend named as executor develops health issues.
Newly acquired property goes untitled in the trust, triggering probate .

Ohio law evolves, too. For instance, beneficiary designations and transfer-on-death options are flexible tools, but they must be coordinated with your will or trust. Without periodic reviews, your plan can become a patchwork of old instructions that conflict with updated accounts.

Practical steps:

Review your plan every two to three years with an estate planning law firm—or sooner after any major life event.
Keep a simple “change log” of major assets and accounts.
Schedule annual reminders for yourself at tax time to consider whether your plan still matches your goals.

A seasoned estate planning lawyer can also help you anticipate life transitions—such as retirement accounts approaching required distributions—and align your plan before deadlines sneak up.

Failing to Name or Update Beneficiaries

Beneficiary designations are deceptively simple. Retirement accounts, life insurance policies, payable-on-death (POD) bank accounts, and transfer-on-death (TOD) registrations for real estate or vehicles in Ohio pass directly to named beneficiaries—bypassing probate. But if those designations are missing, out of date, or contradict your will, confusion (and potential litigation) often follows.

Common pitfalls:

Naming a minor child without a trust, which can force court oversight.
Forgetting contingent beneficiaries: if your primary beneficiary predeceases you, assets can default to your estate and end up in probate.
Overlooking changes after divorce or remarriage.
Mismatches between your will and your account forms that leave heirs disputing your intent.

Fixes with an estate planning law firm that protect your wishes:

Confirm all designations annually. Most institutions allow secure online updates.
Use clear “per stirpes” or “per capita” instructions where appropriate to ensure a deceased beneficiary’s share passes to their descendants as intended.
Coordinate beneficiary designations with trusts to protect minors or beneficiaries with special circumstances, such as creditor concerns.

Overlooking Healthcare Directives and Powers of Attorney

Healthcare and financial decision-making during incapacity are as important as post-death instructions. Yet many people in Newark, OH, draft a will and stop there—leaving loved ones guessing during a medical crisis.

Key documents to include:

Healthcare Power of Attorney: Names someone you trust to make medical decisions when you cannot.
Living Will: Expresses your preferences for life-sustaining treatment if you’re terminally ill or permanently unconscious.
HIPAA Authorization: Grants access to medical information to those who need it.
Durable Financial Power of Attorney: Allows a trusted person to manage finances—pay bills, handle taxes, and manage investments—if you’re incapacitated.

Why this matters:

Hospitals need clear authority quickly; otherwise, treatment decisions may be delayed.
Without a financial power of attorney, family members may need to petition the probate court for guardianship, which takes time and resources.
Adult children heading to college should also have healthcare and HIPAA forms, as parents lose automatic access when a child turns 18.

Practical tips from an estate planning law firm:

Discuss your values with your named agents; clarity now prevents second-guessing later.
Review your agents’ willingness and ability to serve every few years.
Keep copies of directives where they can be accessed swiftly, and share them with your primary care physician.

Ignoring Tax Implications and Titling

Ohio no longer imposes an estate tax, but federal rules and income tax issues still matter. Poorly structured gifts, misunderstood titling, and missed opportunities can reduce what your heirs receive.

Areas where people stumble:

Capital Gains and Basis: Passing highly appreciated assets at death can offer a step-up in basis for heirs. Gifting those assets during life might forfeit that tax efficiency.
Retirement Accounts: Beneficiaries of IRAs often must withdraw funds under the federal 10-year rule, which can create unexpected tax burdens. Coordinating these accounts with trusts requires careful drafting to preserve flexibility.
Titling Mismatches: Owning property jointly for convenience can inadvertently disinherit children from a prior marriage or send assets to the wrong branch of the family.
Business Interests: Without a succession plan, death or incapacity can freeze operations, hurt valuation, and complicate buy-sell obligations.

What to do instead with an estate planning law firm:

Inventory how every major asset is titled and how it will transfer—by deed, beneficiary designation, trust, or will.
Revisit whether joint ownership fits your goals, or whether a trust or transfer-on-death instrument offers better control.
Plan withdrawals from retirement accounts with a tax-aware lens to avoid bracket creep for heirs.

An estate planning lawyer can help you coordinate tax-smart strategies—balancing probate avoidance, control, and long-term efficiency—so documents and account titles support each other.

Stashing Documents Without a Communication Plan

A beautifully drafted plan is only as good as its execution. Too often, families can’t find critical documents, don’t know which accounts exist, or are unsure who to call first after a death or incapacity.

Avoid these avoidable headaches:

Unclear Executor Guidance: The person you choose needs practical instructions—where documents are stored, who your advisors are, and how to access digital accounts.
Password Purgatory: Without a secure list or password manager, digital assets can be effectively lost.
Paper That No One Can Find: A single safe deposit box can slow everything down if no one else is listed on the box or if the key is missing.

Create a simple communication plan with your estate planning law firm:

A one-page “roadmap” for your fiduciaries that lists your key documents, accounts, contacts (including financial advisor, tax professional, and insurance agent), and storage locations.
A secure digital vault or password manager, with instructions for your agents on access.
A family meeting (or at least a call) to set expectations for roles, timelines, and your wishes. You don’t need to share dollar amounts—clarity about values and logistics usually matters more.

When to Call an Estate Planning Lawyer to Avoid These Pitfalls

Knowing when to get guidance is half the battle. Consider scheduling a review if any of the following applies to you.

Trigger moments to act:

You bought or sold a home, vacation property, or small business in or around Newark, OH, or Licking County.
You married, divorced, or entered a blended family arrangement.
Your executor, trustee, guardian, or agent is no longer available, willing, or nearby.
You opened new retirement or brokerage accounts, changed employers, or rolled over a 401(k).
You moved to Ohio from another state, or your beneficiaries moved out of state.
You were diagnosed with a serious medical condition, or you now care for an aging parent.
Your children reached adulthood, or you welcomed grandchildren.
It’s been more than two or three years since your last comprehensive review.

What a practical estate planning law firm review can include:

Aligning your will, trust, and beneficiary designations.
Refreshing healthcare directives and powers of attorney.
Confirming asset titling supports your distribution goals.
Cataloging digital assets and access protocols.
Setting reminders for periodic check-ins so your plan stays current.

Putting it all together:

Keep your plan concise but complete.
Clarify who is doing what, and how to reach them.
Document where everything lives—physically and digitally.

Strong estate planning protects families from surprise, confusion, and conflict. Clear decisions today spare loved ones from difficult choices tomorrow.

Take the Next Steps for Your Family’s Future

If you’ve recognized a gap in your plan, the best time to act is now. An estate planning lawyer can guide you through targeted updates, help you avoid common pitfalls, and keep your plan aligned with Ohio law and your family’s needs as they evolve. Zellar & Zellar, Attorney at Law, Inc., is ready to help you put practical, well-coordinated documents in place—so your legacy unfolds the way you intend. Call our estate planning law firm in Newark, OH, at (740) 452-8439 to start a thoughtful review or to create your plan from the ground up. From beneficiary designations to healthcare directives, an estate planning firm can streamline decisions and reduce stress for everyone involved. Whether you’re updating after a move, celebrating a new grandchild, or preparing for retirement, an estate planning lawyer can bring clarity to the process. Ready to protect what matters and give your family peace of mind? Reach out to our estate planning lawyer, and let’s build a plan you can count on.

The Role of an Estate Planning Attorney in Wills and Trusts

Tue, 21 Oct 2025 18:52:34 GMT

Planning for the future is a task many people put off, but establishing a will and trust is one of the most important steps you can take to protect your loved ones. With guidance from an experienced estate planning attorney in Newark, OH , you can feel confident knowing your wishes will be honored. This article is provided by Zellar & Zellar, Attorney at Law, Inc., dedicated to helping Newark, OH, residents navigate wills and trusts with clarity and peace of mind.

Why Work With an Estate Planning Attorney for Wills & Trusts?

Wills and trusts are the foundation of a solid estate plan. While some may consider using online resources, having a skilled estate planning lawyer ensures every legal detail is covered. An estate planning lawyer can help you understand complex choices, avoid mistakes, and make the best decisions for your unique needs. When you find an estate planning attorney in Newark, OH, you gain support throughout the entire process.

Step 1: The Initial Consultation

The estate planning process begins with a simple conversation. An estate planning attorney will listen as you outline your goals, family circumstances, and assets. During this initial meeting, you can share personal wishes about property, guardianship, and health care. The attorney will answer your questions and explain all your options.

Talking to an estate planning lawyer sets the stage for a plan that fits you. They take time to ensure you know how wills and trusts work and why they matter. If you are trying to find an estate planning attorney in Newark, OH, remember that a personalized approach is key.

Step 2: Gathering Information and Document Preparation

After the consultation, you’ll gather important documents and information. This can include:

Property deeds.
Financial statements.
Insurance policies.
Family details.
Names of chosen beneficiaries.

An estate planning lawyer can help you organize everything quickly and easily. With the right attorney, you won’t be overwhelmed by paperwork or confusing questions. Your estate planning attorney drafts the will and/or trust based on your instructions, making sure each document reflects your wishes.

This part of the process is what makes working with an estate planning attorney so valuable. They handle legal wording and technical details, so you don’t have to worry about missing anything. If you are hoping to find an estate planning attorney in Newark, OH, look for someone who takes stress out of the process.

Step 3: Legal Review and Signing

Once draft documents are ready, your estate planning attorney reviews them with you. This step is crucial because you can make changes, ask questions, and ensure everything matches your intentions. The attorney then guides you through proper signing and witnessing according to Ohio law.

Only an estate planning lawyer can ensure your documents are legally sound and enforceable. They make sure your will and trust comply with state rules so your estate avoids complications. If you find an estate planning attorney in Newark, OH, you can feel secure knowing your legacy is in safe hands.

Step 4: Keeping Your Documents Updated

Life changes happen—marriages, births, divorces, and moves. As these events unfold, your estate plan may need updates. An estate planning lawyer helps you review your plan regularly and make necessary adjustments. This way your documents always reflect your current wishes.

Working with an estate planning lawyer means you get ongoing support, not just a single transaction. Your attorney keeps your will and trust up to date so your loved ones avoid confusion or dispute in the future. When it’s time to find an estate planning attorney in Newark, OH, choose one who offers ongoing assistance.

Benefits of Working With an Estate Planning Attorney

Here is why working with an estate planning attorney can help you:

Ensures your wishes are legally protected.
Reduces stress and confusion for family members.
Prevents costly mistakes and future disputes.
Secures the best outcome for assets and beneficiaries.
Makes updates easy when life changes.

A skilled estate planning lawyer can handle complex family situations or large estates with ease. Their experience also helps you take advantage of tax strategies and avoid common pitfalls. If you’re searching to find an estate planning attorney in Newark, OH, look for someone with experience and compassion.

Trust the Estate Planning Experts in Newark, OH

Thinking about wills and trusts can feel overwhelming, but working with a trusted estate planning lawyer makes every step easier. From that first meeting to the final signature, and through every life update, you’ll have guidance that protects your loved ones and your legacy.

Ready to Protect Your Legacy? Contact Us Today!

Zellar & Zellar, Attorney at Law, Inc., is here to support Newark, OH, families at every stage of the estate planning process. Don’t wait until it’s too late to secure your family’s future. Contact us today to schedule your consultation with an estate planning attorney in Newark, OH. Our friendly team is ready to help you make smart choices for your will and trust.

What to Expect When Working With a Wills Lawyer in Newark, OH

Wed, 09 Jul 2025 15:04:10 GMT

Planning for the future involves more than just saving money or jotting down your wishes. It means working with someone who understands how to legally protect your family, your assets, and your peace of mind. For residents of Newark, working with a trusted legal professional, such as a wills lawyer in Newark, OH, can make a big difference in ensuring those plans are sound and enforceable.

At Zellar & Zellar, Attorney at Law, Inc., the estate planning process is approached with care, experience, and a deep understanding of Ohio law. Whether you're creating your first will or updating an existing one, knowing what to expect when you meet with a wills attorney in Newark, OH, helps you feel confident every step of the way.

Why Creating a Will Is Essential

If you have children, own property, or wish to determine how your estate is handled after you’re gone, a will is an essential legal tool. Without one, Ohio’s intestate laws decide how your assets are distributed, which may not reflect your true intentions.

Who Should Have a Will?

Many people assume they don’t need a will unless they’re elderly or extremely wealthy. In reality, everyone benefits from having a will, especially if you:

Own a home or other property.
Have minor children.
Are married or in a long-term partnership.
Have personal wishes about how your belongings should be distributed.
Want to name a specific person to manage your estate.

Key Benefits of a Will

A will allows you to:

Appoint guardians for minor children.
Distribute assets according to your wishes.
Name an executor to oversee your estate.
Reduce potential disputes among family members.

For many in Newark, speaking with a wills lawyer in Newark, OH, provides clarity and peace of mind throughout this process.

What to Expect During Your Initial Consultation

Your first consultation with a wills lawyer in Newark, OH, is an opportunity to lay a solid foundation. At Zellar & Zellar, Attorney at Law, Inc., clients are encouraged to come prepared with the right documents and questions.

Be Sure to Bring

A list of your assets (real estate, accounts, investments).
Existing estate planning documents (if applicable).
Names and contact information for beneficiaries and executors.
Any questions or concerns you have about the process.

Questions You May Be Asked

During the consultation, your attorney will want to learn about:

Your family structure and relationships.
Any special care considerations (such as a dependent with disabilities).
Your goals for asset distribution.
Your preferences for guardianship or charitable giving.

You can learn more about Zellar & Zellar, Attorney at Law, Inc.’s experience and approach on our About page .

The Attorney’s Role in Drafting and Guiding Your Will

Once the initial information is gathered, your wills attorney in Newark, OH, begins drafting a personalized will. Rather than relying on templates, your attorney ensures the document reflects your specific goals and adheres to Ohio’s legal standards.

Ensuring Legal Clarity and Peace of Mind

Your attorney will help you:

Understand legal terminology and implications.
Appoint a responsible and capable executor.
Coordinate your will with other estate planning tools like trusts .
Double-check that beneficiary designations on accounts align with your will.

You’ll be given time to review and revise the draft before signing.

Updating Your Will As Life Circumstances Change

Life changes, like marriage, divorce, having children, buying a home, or retiring often mean your will needs to be updated. A wills lawyer in Newark, OH, plays a vital role in keeping your documents current and legally valid.

When to Update

You should revisit your will after:

A significant life event (e.g., birth, death, marriage).
A change in assets or property ownership.
New estate planning goals or charitable intentions.
Changes to state or federal laws that may affect your estate.

At Zellar & Zellar, Attorney at Law, Inc., ongoing client relationships ensure that your estate plan evolves with you. Regular reviews help safeguard your intentions.

Why Working With a Local Newark Attorney Matters

Choosing a local wills lawyer in Newark, OH, gives you the advantage of working with someone familiar with Licking County’s legal landscape. Local knowledge can help streamline probate procedures and ensure compliance with state-specific regulations.

Personalized, In-Person Support

Working face-to-face with someone who knows your community adds a layer of trust and convenience that out-of-state services can't provide. Zellar & Zellar, Attorney at Law, Inc., offers in-person service and long-term support to help families throughout Newark navigate estate planning with confidence.

Start Your Estate Planning Journey Today

Creating or updating a will is a responsible and empowering step toward protecting what matters most. If you’re ready to work with a wills lawyer in Newark, OH, now is the time to act. Zellar & Zellar, Attorney at Law, Inc., offers the legal guidance you need to create a plan that reflects your values and secures your family's future.

Reach out today to schedule a consultation . Let a dedicated wills attorney in Newark, OH, help you gain peace of mind through thoughtful estate planning.

Top 5 Reasons to Hire a Wills and Trust Lawyer in Newark, OH

Fri, 23 May 2025 14:16:03 GMT

Estate planning isn't just for the ultra-wealthy, it's for anyone who wants to protect their family, preserve their assets, and avoid legal chaos down the road. If you're living in or around Newark, OH, understanding the importance of working with a wills and trusts lawyer is critical. Many people delay planning until it's too late, often resulting in confusion, court delays, and unintended consequences for loved ones. Whether you're raising a family, managing a growing business, or enjoying retirement, proactive legal planning can save you stress, time, and money. This article explores five compelling reasons to seek the guidance of a wills and trust attorney in Newark, OH, with insights based on local law and the experience of trusted professionals like Zellar & Zellar, Attorney at Law, Inc.

Why Hiring a Wills and Trust Lawyer Matters

1. Navigate Ohio's Complex Probate Laws

Ohio's probate process can be lengthy and full of legal pitfalls, even for seemingly simple estates. Without a solid estate plan, your loved ones could face delays, extra costs, and disputes. A seasoned wills and trust lawyer in Newark, OH, helps you avoid probate through trusts and other legal tools. They also address Ohio-specific tax issues, ensuring your assets are protected from unnecessary legal and financial exposure.

2. Proactive Planning Requires Professional Guidance

Families, business owners, and retirees all face unique challenges, and estate planning shouldn't wait until it's too late. Assigning guardianship, ensuring business continuity, or preserving retirement assets requires careful foresight. That's exactly why hiring a wills and trusts lawyer in Newark, OH, is so important. A proactive, customized estate plan helps you avoid legal complications down the road and gives you peace of mind today. It's about staying ahead, not scrambling later.

3. Avoid the Real-Life Fallout of Delayed Planning

Waiting too long to create or update your estate plan can lead to heartbreaking outcomes. In Newark, there have been real cases where families faced court battles, frozen assets, or lost inheritances, all because of outdated wills or missing legal documents. These costly mistakes are preventable. A wills and trust attorney ensures your plan is legally sound, up-to-date, and designed to avoid conflict and confusion when it matters most.

4. Minimize State Tax and Legal Exposure

While Ohio doesn't currently impose an estate tax, that doesn't mean your heirs are in the clear. Mismanaged assets can trigger unexpected federal tax burdens or legal challenges. A wills and trust lawyer in Newark, OH, can help you build a tax-efficient estate plan using trusts, charitable giving strategies, and other tools that preserve more of your wealth for your loved ones.

5. Personalized, Local Guidance from Zellar & Zellar

Estate planning is personal, and no online template can match the insight of a local attorney who knows the community and state laws. Zellar & Zellar, Attorney at Law, Inc., offers personalized attention that helps you plan for every scenario, from family changes to business success, making them a trusted wills and trust attorney for many families and professionals.

Protect What Matters Today

There's never a "perfect" time to start estate planning, only the right time, which is now. A proactive plan crafted by a wills and trust lawyer in Newark, OH, can make all the difference in securing your legacy and easing your family's burden later. Don't let uncertainty and delay put everything you've built at risk. Contact Zellar & Zellar, Attorney at Law, Inc., today to schedule a personalized consultation and take control of your future with confidence.

Need to Find a Wills and Trust Attorney in Newark, OH?

Thu, 24 Apr 2025 13:56:55 GMT

Your legacy is one of the most meaningful things you’ll leave behind—so making sure it’s protected is worth doing right. If you’re looking to find a wills and trust attorney in Newark, OH, it’s important to work with someone who sees the full picture, not just a set of documents. Your family, your assets, and your wishes all deserve thoughtful legal guidance.

Estate planning isn’t just about preparing for the future; it’s about building clarity and security in the present. Whether you're starting fresh or refining an existing plan, having a trusted local attorney helps make the process easier and more effective.

Why Estate Planning Is a Smart Move at Any Stage

It’s a common misconception that wills and trusts are only for older adults or those with large estates. In reality, anyone with assets, dependents, or specific wishes should consider putting a plan in place. It ensures you're the one making the decisions—not the courts.

If you're in Newark and want to leave clear direction for your loved ones, or you simply want peace of mind, creating a customized estate plan is one of the most thoughtful things you can do.

Will vs. Trust: Understanding the Basics

Each estate is unique, and so are the tools that manage it. Wills and trusts serve different purposes and sometimes work best together.

An experienced attorney will explain how these options fit into your life and help create a plan that aligns with your goals.

What to Look for in a Wills and Trust Attorney

To truly protect your future, it’s essential to work with someone who knows the law, listens to your concerns, and can offer real solutions.

Here's what to prioritize when trying to find a wills and trust attorney in Newark, OH:

Working with the right professional gives you confidence that your legacy is secure and your family is protected from unnecessary stress.

Why Newark Residents Rely on Zellar & Zellar

At Zellar & Zellar, Attorney at Law, Inc ., we know that estate planning isn’t just a legal task—it’s a personal one. That’s why we take time to understand what matters most to you and build a plan that’s as unique as your life story.

Our team is committed to providing clear guidance and compassionate service. We’ve helped countless Newark residents find a wills and trust attorney they can rely on for honest advice, lasting protection, and personalized legal care.

Your future is worth protecting—and we’re here to help. Contact us at Zellar & Zellar , Attorney at Law, Inc. today to take the first step in creating a thoughtful estate plan that reflects your wishes.

Protect Your Legacy: Probate Estate Planning in Newark, OH

Thu, 24 Apr 2025 07:04:02 GMT

Probate estate planning in Newark, OH , is a critical step to ensure your hard-earned assets pass smoothly to your loved ones. Without proper planning, your family could face lengthy court delays, unnecessary expenses, and public scrutiny. At Zellar & Zellar, Attorney at Law, Inc., we help Newark residents create tailored estate plans that minimize probate hassles and protect their legacies.

Why Probate Estate Planning Matters in Newark, OH

Probate is Ohio’s legal process for validating a will, paying debts, and distributing assets, but it can be time-consuming and costly. Key concerns include:

Delays: Probate in Licking County can take months or even years.
Expenses: Court fees, attorney costs, and executor commissions add up.
Privacy: Probate records are public, exposing family details.

A well-structured estate plan can help avoid these pitfalls.

Key Strategies to Simplify Probate

1. Establish a Will or Trust

A will ensures your wishes are followed, but still requires probate.
A living trust bypasses probate entirely, offering faster, private asset transfers.

2. Update Beneficiary Designations

Assets like life insurance, retirement accounts, and payable-on-death (POD) bank accounts transfer directly to beneficiaries, avoiding probate.

3. Use Joint Ownership or Transfer-on-Death Deeds

Ohio allows transfer-on-death (TOD) deeds for real estate, enabling property to pass directly to heirs.

4. Plan for Incapacity

Durable power of attorney designates someone to manage finances if you’re unable.
Healthcare directives outline medical wishes, reducing family disputes.

Newark-Specific Probate Considerations

Licking County probate procedures have unique requirements:

Local court rules may affect timelines.
Small estates (under $35,000) qualify for simplified probate.

Working with a knowledgeable estate planning law firm ensures compliance and efficiency.

Common Probate Mistakes to Avoid

No will: Ohio’s intestacy laws decide asset distribution—not you.
Outdated plans: Major life changes (marriages, divorces, new children) require updates.
DIY documents: Generic forms often lead to errors and disputes.

Take Control of Your Legacy Today

Don’t leave your family’s future to chance. Proper probate estate planning in Newark, OH, provides peace of mind and financial security. For trusted guidance, contact Zellar & Zellar today—we’ll help you create a plan tailored to your needs.

10 Steps to Take Now to Secure a Comfortable Retirement: Part 2

Tue, 10 Dec 2024 22:03:52 GMT

In the first part of our series on practical steps to take to ensure a comfortable retirement, we discussed estate planning, passing on legacy, and planning for long-term care. This week, we continue with 5 more steps, from adapting your home for comfort and safety to harnessing technology for independence. Taking these steps will give you comfort in your later years. Read more…

10 Steps to Take Now to Secure a Comfortable Retirement: Part 2

Welcome back to our discussion on securing a comfortable retirement! In the first part of this series, we explored essential steps including estate planning, preparing for long-term care, and passing on your legacy. As we continue with the second part of our series, we'll delve into additional areas that are crucial for ensuring your golden years are not only financially stable but also enriched with independence, health, and continued personal growth. So let's pick up where we left off.

Step 6: Consider Your Housing Needs

Why It’s Important: Adapting your living environment to meet your changing mobility and health needs can enhance your independence and quality of life (and who doesn’t want that?!). As physical abilities change with age, a home that accommodates these changes can help maintain a higher level of independence, reduce the risk of accidents, and potentially delay or avoid the need for an assisted living facility. Moreover, comfortable and accessible living conditions contribute significantly to happiness and well-being in your later years.

Practical Steps:

Assess Home Accessibility: Evaluate your home for potential mobility issues and consider modifications like ramps, wider doorways, or bathroom grab bars.

Explore Senior-Friendly Housing Options: If extensive modifications are too costly or impractical, consider moving to a senior-friendly community that offers additional amenities and services.

Find a Personal Family Lawyer in Your Community Who Offers Elder Care Planning. A Personal Family Lawyer (“PFL”) who offers elder care planning can help you navigate your options and create a plan that preserves your assets for your loved ones, rather than draining them for housing and health care costs. Go to personalfamilylawyer.com to find the nearest PFL who offers elder care planning and make an appointment on their website. Many PFLs have virtual offices for your convenience, so if there isn’t a PFL listed in your locality, choose the closest one.

Step 7: Embrace Technology for Independence

Why It’s Important: Modern technology can significantly improve the convenience and safety of daily life for seniors. Technologies that assist with daily tasks can extend independence, reduce caregiver burden, and enhance your overall quality of life. Additionally, health-monitoring technologies can alert caregivers and medical professionals to potential health issues before they become severe, ensuring timely medical intervention.

Practical Steps:

Consult with a PFL and Join Their PFL FamilyCare Program. A PFL who has a FamilyCare Program in place has, as one of the benefits of membership, a subscription to a secure, online system that houses your important legal and health care documents so they’re immediately available to doctors, hospitals, and caregivers. This is really important! Most people who have estate plans with health care documents have them stored on a shelf and aren’t accessible when they need them. That’s no good in the event of an emergency. But a PFL has your back.

Health Monitoring Technologies: Employ devices that can monitor vital signs and remind you to take medications. Your doctor may be able to help with this.

Consider Using Smart Home Devices: You can automate lighting, heating, and security to manage your home environment easily. If you aren’t technologically savvy, ask a younger family member to help. Gen Z can figure that out in a heartbeat!

Step 8: Stay Active and Engaged

Why It’s Important: Active engagement in physical, social, and mental activities can significantly enhance your quality of life and health in retirement. Maintaining an active lifestyle helps prevent common age-related health problems, improves mental health, and provides valuable social interactions that can combat loneliness and depression. When you engage in a variety of activities you also keep your mind sharp and gain a sense of accomplishment and happiness.

Practical Steps:

Join Community Groups or Clubs: Engage in activities that match your interests, such as book clubs, gardening, or volunteering. If you’re active on Facebook, you can find groups there that meet in your local community. Joining online groups counts too!

Regular Exercise: Participate in senior-friendly exercise programs to maintain health and mobility.

Pursue New Learning Opportunities: Consider taking classes at local community colleges or online to keep your mind sharp and learn new skills.

Step 9: Develop a Sustainable Retirement Budget

Why It’s Important: A well-planned budget is crucial to ensure that your savings last throughout your retirement years. A sustainable budget helps you manage your finances effectively, avoiding overspending and ensuring that you have funds available for unexpected expenses. A good budgeting practice can also help you maintain a comfortable lifestyle while safeguarding against market volatility and economic downturns.

Practical Steps:

Identify Essential vs. Non-Essential Expenses: Consider making adjustments to your spending habits if needed to ensure you can cover necessary costs while still enjoying your retirement.

Plan for Unexpected Costs: Include a buffer in your budget for unforeseen expenses to avoid financial strain.

Consult with a PFL. A PFL, as part of their unique PFL Life & Legacy Planning process, will help you get more financially organized than you’ve ever been before. Together, you’ll create a complete asset inventory (we call it a “personal resource map”, so you know exactly what you have and how long it will last. The inventory also ensures that your loved ones will be able to find your assets after you’re gone, so nothing is lost to the government. Check out your State’s Department of Unclaimed Property website and prepare to be shocked to see how much money has been lost! Traditional estate planning attorneys will not help you, but a PFL includes the inventory as part of every estate plan.

Step 10: Review and Adjust Your Estate Plan Regularly

Why It’s Important: Life changes, and so should your estate plan to ensure it continues to meet your evolving needs and circumstances. Regular reviews ensure your plan works when you and your family need it to, keeping them out of court and conflict after you’re gone. If your estate plan is current with the ever-changing estate and tax laws, chances are it will work and your wishes will be honored if you become incapacitated or when you die.

Practical Steps:

Work With a PFL and Join Their PFL FamilyCare Program. All PFLs have, as part of the Life & Legacy Planning process, a built-in cadence of reviewing your plan every 3 years at no charge. However, if your PFL has a FamilyCare Program in place, join and you’ll receive an annual review at no cost. You’ll also receive membership benefits that include special, members-only pricing for updates to your plan.

Regular Financial Reviews: As part of the PFL FamilyCare program, your PFL will also review your asset inventory annually so that it stays up to date. This ensures your family will receive your assets, not the government. If your PFL does not have a FamilyCare Program yet, they will review your asset inventory every 3 years with you.

And now we’ve come to the end of our 2-part series on how to enjoy your retirement with ease and peace of mind. I hope you’ve found this information helpful and inspired you to take action right away because what matters most to me is your ability to live a fulfilling life and give your loved ones a legacy they will treasure.

We Can Help Secure Comfort in Your Retirement

At our firm, we do more than just assist with your immediate retirement planning needs; we ensure that your future is as vibrant and secure as possible. The intricacies of adapting your living space, integrating modern technology for better health and independence, staying socially and physically active, and managing your finances can make retirement seem overwhelming. As your Personal Family Lawyer Firm, we simplify these aspects and tailor solutions to fit your lifestyle and aspirations, all within your time and budget.

If you want to explore how we can help you develop a retirement plan that not only safeguards your finances but also enriches your daily life, we encourage you to book a complimentary 15-minute call with us. Together, let's make your retirement years as fulfilling and carefree as possible.

This article is a service of Zellar & Zellar Attorneys at Law, Inc., a Personal Family Lawyer® Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Life & Legacy Planning Session™, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life & Legacy Planning Session™.

10 Steps to Take Now to Secure a Comfortable Retirement: Part 1

Fri, 01 Nov 2024 17:51:28 GMT

Retirement is more than just an end to the working years; it's an exciting new phase of life that requires thoughtful preparation and strategic planning. This Older Americans Awareness Month is the perfect opportunity to explore 5 practical steps you can take now to ensure a comfortable and fulfilling retirement. Read more…

10 Steps to Take Now to Secure a Comfortable Retirement: Part 1

Retirement is more than just an end to the working years; it's an exciting new phase of life that requires thoughtful preparation and strategic planning. Since May is Older Americans Awareness Month, it's the perfect opportunity to explore 10 steps you can take now to ensure a comfortable and fulfilling retirement. In this article, we’ll discuss the first 5 steps, why they’re important, and how to implement them. Next week, we’ll continue with the remaining 5 steps.

Let’s dive in, shall we?

Step 1: Plan for the Transfer of Your Assets

Why It’s Important: Effective estate planning ensures that your assets are distributed according to your wishes, potentially reduces estate taxes, and can prevent a lot of legal complications for your heirs. Proper estate planning also helps to avoid the public, often lengthy and costly process of probate, ensuring that your heirs have quicker access to the assets you leave behind. Moreover, clear directives in estate planning can prevent family disputes (sometimes resulting in irretrievably broken relationships) and ensure that your specific instructions are followed, preserving your legacy exactly as you intend.

Practical Steps: Consult with a Personal Family Lawyer. A Personal Family Lawyer (“PFL”) always starts the client relationship with education about your options that align with your specific family dynamics, assets and wishes. From there, your PFL will help you create a tailored Life & Legacy plan that works when you and your family need it to, keeping you and them out of court and conflict. Importantly, a PFL can also help you avoid unnecessary taxes before and during retirement (and who doesn’t want that?).

Life Insurance: Having adequate coverage to handle any debts and funeral expenses can provide a financial cushion for those who depend on you. As part of the PFL Life & Legacy Planning process, your PFL can educate you about how much insurance you need and how to pass the funds to the people you want, while avoiding unnecessary taxes and ensuring the funds are available as soon as possible.

Find a PFL in Your Community. Go to personalfamilylawyer.com to find the nearest PFL and make an appointment for a 15-minute consult call on their website. Many PFLs have virtual offices for your convenience, so if there isn’t a PFL listed in your locality, choose the closest one.

Step 2: Prepare for Long-Term Care Expenses

Why It’s Important: As we continue to live longer, so does the probability of needing some form of long-term care. These services, whether in-home care, assisted living, or nursing facilities, can be costly and are not typically covered by Medicare. Without proper planning, the high costs of long-term care can quickly deplete retirement savings, potentially leaving less financial support for spouses or other family members. Furthermore, preemptive financial planning can significantly ease the emotional and logistical challenges of arranging for long-term care.

Practical Steps:

Research Long-Term Care Insurance: Investigate different policies early, ideally in your 50s or early 60s, before premiums rise significantly. Compare benefits, coverage limits, and the reputation of insurance providers.

Learn About Government Programs: Understand what Medicare covers and explore Medicaid eligibility for long-term care, which varies by state but generally requires spending down your assets.

Find a PFL in Your Community Who Offers Elder Care Planning. Preparing for long-term care can be tricky because the laws are quite complicated. However, a PFL who offers elder care planning can help you navigate your options and create a plan that preserves your assets for your loved ones, rather than draining them for health care costs. Go to personalfamilylawyer.com to find the nearest PFL who offers elder care planning and make an appointment on their website.

Step 3: Pass on Generational Wealth

Why It’s Important: By ensuring that wealth passes effectively to future generations, you can secure their financial future and teach them how to manage and grow that wealth responsibly. Furthermore, generational wealth can enhance the lives of future family members and their communities by providing educational opportunities, fostering entrepreneurship, and supporting philanthropic efforts. It also instills a sense of responsibility and stewardship, which are crucial for maintaining family wealth over generations.

Practical Steps:

Educational Trusts: A PFL can help you set up trusts that release funds for your children or grandchildren based on milestones such as graduation from college. These trusts also have tax benefits, and a PFL can educate you about how they work.

Create a Family Investment Plan: Include younger family members in discussions about family investments to educate them about financial principles.

Find a PFL in Your Community. A PFL can not only help you create an educational trust but also asset protection trusts so you can create generational wealth for your family. Go to personalfamilylawyer.com to find the nearest PFL and make an appointment on their website. Keep in mind that many PFLs have virtual offices for your convenience, so if there isn’t a PFL listed in your locality, choose the closest one.

Step 4: Leave a Legacy

Why It’s Important: What your family will treasure most is not the financial gifts you leave, but your life lessons, values, and memories that define your family heritage. A well-planned legacy can inspire and guide future generations, providing them with a sense of identity and belonging to a greater family story. You can ensure that your philosophical and ethical beliefs continue to influence even when you're no longer present, helping to shape the character and choices of your descendants.

Practical Steps:

Record Life & Legacy Interview with a PFL: All PFLs include an interview as an important part of their unique Life & Legacy Planning process. The interview ensures your family has a piece of their family history they can hold onto long after you’re gone. They’ll also treasure being able to see you and hearing your voice whenever they want.

Step 5: Cultivate and Share Family Values and History

Why It’s Important: Continuing the idea of leaving a legacy, know that strengthening family bonds through shared history and values helps maintain a sense of continuity across generations. This cultural and historical continuity enhances their psychological resilience and emotional well-being. Additionally, a well-documented family history can serve as a valuable asset for educational and genealogical purposes, enriching the lives of current and future generations. Here are some steps you can take outside of recording a Life & Legacy Interview with a PFL.

Practical Steps:

Create a Family Archive: Gather photos, letters and important documents in a digital format to ensure preservation and easy sharing. Enlist the help of a younger family member (Gen Z, anyone?) if you need to. Also consider writing down recipes, stories, and holiday traditions that can be passed down as family legacies.

Compile Family Histories: Write or record stories about family elders, significant events, and the origins of family traditions. Note that writing these down the “old school” way, i.e., pen and paper, will be meaningful to younger generations. They’ll love having a piece of paper with your handwriting on it.

Host Family Reunions: Regular gatherings not only help reinforce family bonds but also allow older generations to impart wisdom and traditions firsthand.

So whether you're a few years away or are about to retire now, it’s never too early (or too late!) to start planning. Be sure to check back next week for even more steps you can take to ensure peace of mind when the time comes.

Let Us Help Secure Comfort in Your Retirement

At our firm, we do more than just guide you through estate planning; we provide you with peace of mind, knowing you are free to enjoy retirement. However, understanding the complexities of retirement—from estate planning to ensuring long-term care and preserving generational wealth—can be daunting. That's why, as your heart-centered Personal Family Lawyer Firm, we streamline the process, making it as easy on you as possible.

If you're interested in learning more about how to create a Life & Legacy Plan that secures your comfort in retirement, we invite you to schedule a complimentary 15-minute call with our office. Let us help you live your best life, every step of the way.

This article is a service of Zellar & Zellar Attorneys at Law, Inc., a Personal Family Lawyer® Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Life & Legacy Planning Session™, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life & Legacy Planning Session™.

Till Death or Divorce: Why You Need to Plan Now for Your Relationship’s End

Fri, 01 Nov 2024 17:51:14 GMT

Whether it’s a breakup, divorce, or the death of a loved one, every relationship eventually comes to an end. Whether you have planned for that ending or not will have a real impact on you, your partner, and your assets. Read more…

Till Death or Divorce: Why You Need to Plan Now for Your Relationship’s End

After the excitement of Valentine's Day fades away and the last indulgence of chocolate is savored, it's crucial to turn our attention to a topic that may not be as thrilling as the idea of everlasting love: the reality that all relationships come to an end one day. Before you stop reading, hear me out.

Whether it’s a breakup, divorce, or the death of a loved one after a lifetime together, every relationship eventually will come to an end. The most important thing is how you have planned for that ending, or whether you haven’t at all, as your planning (or lack of it) will have a real impact on you, your partner, your children, and your assets.

The silver lining? While we can't prevent the end, we can prepare for it with a blend of compassion and strategic planning that makes the end the best possible foundation for a new beginning.

Understanding the Intersection of Love and Law

Love is wonderful—joyful moments, shared dreams for the future, and yes, some legal considerations too. For married couples, the law has default provisions in place for what happens to your assets if one of you dies, but those default plans may not align with your personal preferences or the life you’ve built with your partner.

If you’re an unmarried couple, the absence of a plan could leave you vulnerable, risking the loss of assets or the inability to make crucial decisions about your property or your medical choices.

To better understand how a lack of planning can leave you and your partner out in the rain, let’s look closer at these important areas that are affected when a relationship ends.

1 | Property Ownership

Let's say you and your partner purchase a home and other assets together. Without clear documentation outlining ownership rights, a dispute can arise if the relationship ends in a breakup. But breakups aren’t the only danger.

If you aren’t married and one of you passes away, the other partner might find themselves without a rightful claim to the property, potentially facing homelessness or a significant financial loss.

If you own any property with anyone else or if you want to ensure your property lands in the hands you choose in the event of your death, contact us to plan for that property now.

2 | Healthcare Decisions

In the unfortunate event of a medical emergency where one partner becomes incapacitated, lacking appropriate legal documentation could impede the other partner's ability to make critical healthcare decisions on their behalf. This can lead to delays in medical treatment or disagreements among family members over the person’s treatment, causing unnecessary stress and complications during an already challenging time.

3 | Guardianship for Children

For couples with children, failing to establish guardianship arrangements in the event of both parents' incapacity or death can have devastating consequences. Without a designated guardian, children may be placed in the care of individuals who may not align with your wishes or values, leading to potential custody battles and emotional upheaval for the children and your extended family.

If you and your partner end your relationship without coming to a mutual agreement on a guardian for your children, things could get even more chaotic - especially if one of you has documented your desired guardian and the other partner hasn’t.

Worst of all, typical wills don’t cover planning for the needs of minor children sufficiently. It’s why we offer the Kids Protection Plan®, specifically designed to ensure your children are never raised by anyone other than people you know, love and trust, and are never taken from your home, into the care of strangers.

4 | Business Interests

If you and your partner share business interests or investments, the lack of a solid plan could jeopardize the future of these assets. Without clear instructions, the surviving partner may face challenges in managing or transferring ownership of these assets, potentially leading to financial instability or the dissolution of the business.

Be Proactive, No Matter What the Future Holds

In each of the scenarios above, the absence of proactive estate planning measures leaves individuals vulnerable to legal and financial uncertainties. By taking proactive steps that consider what will happen when your relationship ends, couples can safeguard their assets, ensure their wishes are honored, and provide peace of mind for themselves and their loved ones.

Not sure how to start the conversation with your partner?

Start by explaining to your partner your desire to safeguard the life you’re building together. Just as relationships evolve over time, your wishes and how they are documented should too. Continuously engaging in dialogue and revisiting your plans ensures they remain aligned with your evolving needs and aspirations.

Let Us Make It Easy to Plan Ahead

Whether you’ve already started the conversation with your partner or need more guidance, planning for the future of your relationship can feel overwhelming. We can help.

At our firm, we don't merely dispense legal counsel; we safeguard your love story. We comprehend the profound significance of your relationship and are dedicated to ensuring its protection. And whenever (and however) your relationship ends, we’ll work with you to create a plan that considers these contingencies ahead of time so you and your loved ones can avoid the stress, conflict, and chaos that comes with incomplete planning.

To learn more about how we approach estate planning from a place of heart, schedule a complimentary 15-minute call with our office.

This article is a service of Zellar & Zellar Attorneys at Law, Inc., a Personal Family Lawyer® Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Life & Legacy Planning Session™, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life & Legacy Planning Session™.

Blended Families Blog Post

Thu, 05 Sep 2024 18:51:47 GMT

This week we look at a real-life cautionary tale about what can happen in any blended family when the parents leave decisions about their children’s care and inheritance up to their surviving spouse and the state’s laws.

PARENTS, STEP-PARENTS AND CHILDREN, OH MY! BLENDED FAMILIES + DEATH = A POTENTIAL NIGHTMARE

Anyone who’s seen an episode of “Modern Family” knows that families these days come in many different shapes and sizes. Long gone are the days when a “family” was defined as a mother, father and two children (or was it 2.5 children? Where does the .5 come from anyway?). In this article, we’ll focus on one of the types of families that’s common in our modern culture: the blended family.

The Unique Dynamics At Play in Blended Families

A “blended family” comes into being when parents divorce, and at least one remarries. While everyone may get along effortlessly while the parent is alive, that too-often doesn’t happen once the parent dies. Why? Because the law still hasn’t caught up to our modern definition of “family.” The law often favors the spouse, which works well when the spouse and the deceased have children together. But when the deceased parent has children from another marriage, the children can - indeed, often are - cut out of their inheritance.

Other than the law being slow to catch up, there are a few more reasons why this happens:

The parent trusts the new spouse completely and can’t comprehend the spouse ever doing anything to harm the children;
The new spouse may place his or her own interest ahead of the children - or have children from a first marriage and want them to benefit instead; or
The parent has not been educated about what could happen when he or she dies, and hasn’t consulted with a competent attorney to get educated.

A True (and Common) Story That Became a Nightmare

In a recent marketwatch.com article , a woman wrote about her own nightmare scenario. Her father (we’ll call him “Dad”) owned several properties, including the house she lived in as a child. He remarried, and when his health started to decline, her stepmother (we’ll call her “Stepmom”) made financial moves so he could qualify for government health care benefits under the Medicaid program. Whereas Medicaid is a needs-based program (meaning, you only qualify if you can’t afford to pay), many people with means are able to take advantage of legal maneuvers and set their assets aside so they qualify. Doing this keeps assets protected for the next generation(s).

So far, so good. It seems as if Stepmom has the children’s interests at heart, right? Not so fast.

In order to qualify for Medicaid, Dad had to transfer his assets to someone else while he was alive. That “someone else” was Stepmom. Apparently, she convinced Dad it was the right move and that she could be trusted with his properties. Dad eventually died, and so at the time of his death, Stepmom owned all his properties, including the childhood home. Stepmom went on a selling spree, cashing in on them all. And guess where the money went? If you guessed Stepmom and HER daughter, you’d be right. Dad’s children from his first marriage got nothing.

Wait - Surely That’s Not Legal!

You may be thinking that’s a horribly unfair outcome - so bad that it has to be illegal. But it’s not. It’s completely legal. Once Stepmom owned the properties, she was free to do anything she wanted with them. She chose - deliberately – to give her stepchildren none of the proceeds and under the law, she had the absolute right to do this. The children had no recourse. They’d lose in court every day of the week - and twice on Sundays.

And so we’re left to wonder: is this the outcome Dad wanted? Could he have foreseen Stepmom was capable of cutting out his children? And did he know there was another way he could have protected them and still qualified for government benefits? With education from a trusted lawyer, would he have done anything differently?

How to Ensure Your Children Are Spared From the Potential Consequences

If you want to avoid the same tragic consequences, there are some steps you can take right away:

1. Don’t Be Afraid of the Inevitable: Benjamin Franklin is quoted as saying, “Nothing is certain but death and taxes,” and he was half right (you can avoid taxes with careful estate planning but that’s a topic for another article). Death is certain. Yet we’re all uncomfortable talking about death, much less planning for it. Accept death as a reality then make plans while you can.

2. Hold a Family Meeting: Having a heart-to-heart about your wishes, values and goals can go a long way in preventing misunderstandings after you pass away.

3. Educate Yourself: Hands down the single most important thing you can do is educate yourself, and educate yourself now. Don’t rely on the internet. Laws are different from State to State, families are different, assets are handled in different ways, and the internet won’t take all this into account.

4. Work With a Lawyer Who Understands Your Family Dynamics: One size doesn't fit all when it comes to planning for life & death matters like these! What works for one family might not work for yours. You need a tailored plan to fit your unique needs. You deserve, and your family deserves, to have a plan that works when your family needs it. That’s why you need a trusted, heart-centered attorney who will appreciate your unique situation and educate you so you’re empowered to put the right plan in place. Your family’s future literally depends on it.

Your loved ones don’t have to face tragic circumstances when you pass. With honest conversations, proper education, and guidance from a trusted attorney, you can put together a plan that keeps the peace and makes sure your loved ones are taken care of just the way you want.

To learn more about how we approach estate planning from the heart and yet with all the strategies you need to keep your assets in the family, schedule a complimentary 30-minute call with our office.

This article is a service of Zellar & Zellar Attorneys at Law, Inc., a Personal Family Lawyer® Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Life & Legacy Planning Session™, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life & Legacy Planning Session™.

Theyre Not Kids Anymore! Navigating Your Childs Transition Into Adulthood

Fri, 16 Aug 2024 20:18:45 GMT

When your child turns 18, they’re legally considered an adult even though they have a lot more growing to do (though they may not think so!). Just like any other adult, their health and financial information is protected by privacy laws. But you can still step in and help them if you and your child plan ahead. Read more…

They’re Not Kids Anymore! Navigating Your Child’s Transition into Adulthood

When your child turns 18, they’re legally considered an adult even though they have a lot more growing to do (though they may not think so!). Just like any other adult, their health and financial information is protected by privacy laws. But unlike any other adult, that’s still your child and you want to be there to support them in a crisis. Unless you’ve planned ahead you won’t be able to step in and support your child.

As an estate planning attorney, I often see families caught off guard when I tell them this. Like those families, you may also assume that as a parent, you’ll always have a say in your child’s medical and financial matters. But you don’t. Under the law, you have just as much access to their medical and financial information as you do for Joe down the street (which is none).

The good news is that with proper planning, you can help your newly-minted adult child navigate this transition and ensure you’re able to step in if something happens. Here I’ll share 3 strategies to help you and your child make the transition to their adulthood as easy as possible.

Strategy 1: Education

The first strategy for a successful transition to adulthood is education. At my firm, I start every client relationship with education. That’s because I believe that education equals empowerment, which supports you to make the right choices for yourself and your family. Young adults also need to be empowered through education. The more you can teach your child about their new financial and legal responsibilities, the more empowered they’ll be to make the right decisions.

If you haven’t already started talking with them about legal and financial matters, now is the time s. Start with a kind of budgeting we call “money mapping”. Explain the importance of tracking their income and expenses, setting financial goals, and investing wisely, both now and for the future.

Help them understand the basics of banking, such as how to use checking and savings accounts, the benefits of maintaining a good credit score, and assist them in setting up their own bank account if they don’t already have one. Explain how to avoid overdrafts and the significance of keeping track of their balance. Introduce them to how to access credit and use it responsibly. Explain how credit cards work, the importance of paying off balances in full each month, when it’s okay to carry a balance, and the long-term benefits of building a positive credit history.

And let’s not forget your child’s new tax obligations. Teach them how to file taxes, what documents they need, and how to understand their W-2 forms, or what it means to be a 1099. Explain the importance of keeping accurate records and how to navigate basic tax software.

Health care is another critical area where your child needs education. Let your child know that you can’t make medical decisions for them and you won’t have access to their health records anymore - unless they give it to you. I’ll cover which essential documents they need in a minute, but first, let’s talk about the importance of communication in helping them document their wishes properly.

Strategy 2: Encourage Communication

Adulthood often involves having difficult conversations (as if I’m telling you anything you don’t know!). Two of those conversations to have with your child have to do with their healthcare and financial decisions in the event of an emergency.

First off, I want to say that even thinking about your child being in an emergency medical situation is hard to think about, much less talk about. And it will probably be much harder for you than it will be for them. It’s OK. Take a deep breath. You can do this!

After you’ve breathed your way to calm, have an open conversation about what your child would want to happen in various medical scenarios. If they became incapacitated, who would they want to make decisions on their behalf? Both parents or one of you first, then the other? Or do they want anyone else involved in the medical decisions, if they cannot make them on their own. Be open to the possibilities that they have other people in their life that they may want to include, and be glad they are telling you about it, if that’s the case.

Do they know what a ventilator is and whether they’d want one if it became an issue? What about a feeding or hydration tube? And what about resuscitation? It’s necessary to talk about these things so your child’s wishes are honored. Who would they want to have access to them, in case of an accident or an illness? Once you know the answers to these questions, you can help your child create a health care directive and medical power of attorney.

Have the same conversations about finances. Do you know which and how many financial accounts they have? If they’re in college, how will you access their account to stop tuition payments or housing payments if necessary? Will you be able to access their checking account if bills need to be paid? Your child may be reluctant to discuss these matters with you, but assure them you have no intent to violate their autonomy. You simply want to be there for them, if needed.

Strategy 3: Legal Planning

Once you and your child have had these difficult conversations, emphasize the need to get a legal plan in place so their wishes are documented and honored. At the least, your adult child’s legal plan should include the following documents:

Health Care Proxy and Advance Directive. A health care proxy grants someone, usually you, the authority to make medical decisions on your child’s behalf if they cannot. An Advance Directive complements this by outlining their medical treatment preferences in various scenarios, ensuring their wishes are respected even when they can’t voice them.

HIPAA Authorization. The HIPAA Authorization is equally important. HIPAA (Health Insurance Portability and Accountability Act) is designed to protect patient privacy, but it can also prevent you from accessing your child’s medical information without their explicit permission. By signing a HIPAA Authorization, your child can ensure that you can speak with doctors and receive updates on their condition.

Living Will. A Living Will is another important document to consider. This outlines your child’s wishes regarding end-of-life care, such as whether they want to receive life-sustaining treatments. Having these preferences documented can provide clarity and guidance during difficult times, ensuring that their wishes are honored.

Power of Attorney. A Power of Attorney allows your adult child to appoint someone (again, usually you) to manage their financial affairs if they are unable to do so. This can include everything from paying bills to managing bank accounts and handling investments. Without this document, you might find it difficult to step in and help when needed.

It may also be important for your adult child to have a plan in place for what happens after death. If that’s the case, they need a will or trust. Reach out to me and I can educate you and your child on whether post-death planning is needed at this stage in your child’s life.

Finally, life circumstances will change, so let your child know it’s important to review their documents regularly and update them as needed. Encourage your young adult to revisit their decisions periodically, especially if they experience significant life changes such as getting married, moving to a new state, or starting a new job. At my firm, constant contact is part of our process, so our clients never have to remember on their own to update their plan. We do the remembering for you.

Your Next Step

Now that you are armed with 3 strategies for navigating your child’s transition into adulthood, your next step is to book an appointment with our firm so we can support you to have these conversations, and to get your child’s legal plan in place.

Now, before you go thinking that you don’t need an attorney and can use a cheap online tool, or even AI, I encourage you to think about what’s at stake. Your child’s health and well-being. Your child’s growth. The opportunity to teach your child about how to prioritize the things that matter most. When I work with you, one of the best things I can do is to get to know your children as they become adults. Ideally, it will be me (or my firm) that they’ll turn to for guidance throughout their lifetime, and to be there for them, when you can’t be. No cheap legal plan can do that.

The Support You and Your Child Need

As a Personal Family Lawyer Firm, we know that navigating the transition to adulthood can be challenging, both for you and your child. Understanding the legal changes that come with turning 18 and using the 3 legal documents (and the conversations that go with them) in this article can help you provide the support and guidance your child needs. But you don’t need to navigate this transition alone. We can educate you and your child about their new legal responsibilities, support you to have the hard conversations, and help your child put a legal plan in place.

Contact us to learn how our Life & Legacy Planning process supports your family to make the very best decisions about the things that matter most.

This article is a service of Zellar & Zellar Attorneys at Law, Inc., a Personal Family Lawyer® Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Life & Legacy Planning Session™, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life & Legacy Planning Session™.

Choosing the Right Life Insurance Policy

Mon, 13 Jun 2022 17:45:58 GMT

While purchasing life insurance may seem pretty straightforward, it’s actually quite complex, especially with so many different types available.

In order to offer some clarity on the different types of policies out there, we’ve broken down the most popular kinds of life insurance here and discussed the pros and cons that come with each one.

Term life insurance

Term life insurance is the simplest—and typically least expensive—type of coverage. Term policies are purchased for a set period of time (the term), and if you die during that time, your beneficiary is paid the death benefit.

Terms can vary widely—10, 15, 25, 30 years or longer—and if it’s a Level Term policy, the premium and death benefit remain the same throughout the duration. If you survive the term and want to retain coverage, you must re-qualify for a policy at your new age and health status.

In addition to Level Term, other variations include “Annual Renewable Term,” in which the death benefit is unchanged throughout the term, but the insurance is renewed annually, often with an increase in premiums. With a “Decreasing Term” policy, the death benefits decrease each year until they reach zero, but the premium remains the same.

Decreasing Term life insurance is often used to cover a mortgage, student loan, or other long-term debt, so the policy expires at the time the mortgage/debt is paid off.

Whole life insurance

Whole life, or permanent, insurance pays a death benefit whenever you die, no matter how long you live. With a whole life policy, both the death benefit and premium stay the same for your entire life span.

However, depending on when you purchase coverage, the premium can vary widely depending on how much the policy’s death benefit is worth. So, for example, purchasing whole life in your senior years can be extremely expensive and possibly not even available at all.

What’s more, your whole life policy premiums will be much higher than your term life insurance premiums because the insurance company knows the policy will pay out when you die, no matter how long you live.

Indeed, the premium for whole life policies can be among the most costly of all types of life insurance coverage, including similar types of “permanent” policies discussed below. This is simply the price paid for the guaranteed death benefit and a level premium.

Universal life insurance

Universal life is a variation on whole life—it covers you for your entire lifespan, but also contains a “cash-value” component. Rather than putting 100% of your premium toward your death benefit, part of your premium is put into a separate cash-value account that earns interest and is tax-deferred.

The insurance company invests the cash-value funds in various investment vehicles of its choice, and provided the market performs well, you can access those extra funds for things like paying the policy’s premiums, paying off debt, or supplementing your later-in-life fixed income. Some insurance companies will even let you take tax-free loans against the policy’s cash value.

That said, the cash-value account is set at an interest rate that can adjust to reflect the market’s current rates, so if the interest rate of the cash value account decreases to the minimum rate, your premium would need to increase to offset the account’s reduced value.

While universal life premiums are typically more costly than term policies, universal life also allows you to adjust the death benefit within certain guidelines. This added flexibility allows you to choose how much of one’s premium funds will go toward the death benefit and how much goes into the cash value, offering you the ability to adjust the death benefit as your financial circumstances change.

Variable universal life insurance

Variable universal life insurance is quite similar to normal universal life except that variable policies allow you to choose how your cash-value funds are invested, rather than the insurance company. This offers you more control over the cash-value investment and potentially higher returns.

However, if the invested cash-value funds perform poorly or the market tanks, your policy could be at risk. Given a major drop in the cash-value account investments, you may have to pay increased premiums just to keep the policy in force. Moreover, the fees and expenses associated with the cash value investments for variable policies may be much higher than you would pay if you simply invested the funds on your own.

Because understanding life insurance can be confusing, it’s best to get the advice of a trusted advisor before you meet with an insurance agent, who might try to talk you into more coverage than you need in order to earn a larger commission. By sitting down with us as your Personal Family Lawyer®, we can work with you and your insurance advisors to offer truly unbiased advice about which policy type is best for your family and life circumstances.

Contact us today, and we’ll walk you step-by-step through the different life insurance options and help you with your other legal, financial, and tax decisions to ensure your family is planned for and protected no matter what happens.

This article is a service of Crystal I. Zellar, Zellar & Zellar, Attorneys at Law, Inc., Personal Family Lawyer®. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Family Wealth Planning Session, ™ during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

Estate Planning Essentials for Parents

Mon, 13 Jun 2022 17:45:54 GMT

A comprehensive estate plan can protect the things that matter most. For many, this means their property and their family.

Including provisions for the care of your children in your estate plan is essential for peace of mind. But many parents struggle with including such provisions as naming a legal guardian for their child in their plan.

Indeed, even the fictional parents in the popular television sitcom Modern Family struggled with this issue in a recent episode. While Jay and his new and much younger wife Gloria agonized and argued about who they should name as a legal guardian for their children, their children were left at risk that if something happened to Jay and Gloria before they decided and properly named guardians in a legal document, a judge would make the decision for them.

Not ideal, under any circumstances.

When naming a legal guardian for your minor children, there are many factors to consider, such as whether the guardian has similar values to yours or can provide a welcoming home environment. But the toughest decisions are often the most important.

Consider the outcome if you died without having legal protections for your children in place. Your children could be subject to conflict between relatives or they could be raised by someone you would never want, or in a way you wouldn’t want.

They could even temporarily be taken into the care of strangers.

Identifying and naming a legal guardian for your children in your estate plan is a difficult and important task. Don’t put off naming a legal guardian for your child.

While thinking about what will happen to your child if you die is difficult even for fictional parents, your kids deserve the protection and you deserve the peace of mind that a legal guardian can provide.

Unfortunately, even if you have made the hard decisions and worked with a lawyer to name legal guardians in a Will, your kids could still be at risk, because that would not take into account what happens if you become incapacitated, or if your named guardians all live far from your home, and it wouldn’t protect against anyone who may challenge your decisions.

The only way to ensure your kids are raised by the people you want, in the way you want, never taken into the care of strangers (even temporarily) and that your kids would never be raised by anyone you wouldn’t want, is by creating a comprehensive Kids Protection Plan®, which only a select few lawyers, like us, are trained to prepare. We have set up a special site that you can start drafting important documents to protection your children. Click here to start for free!

If you are ready to take that step, start by sitting down with us. As your Personal Family Lawyer®, we can walk you step by step through creating a comprehensive Kids Protection Plan® that not only names a legal guardian for your child in your Will, but also ensures your kids care is fully provided for, in the short-term and the long-term, and in the event of your incapacity.

Working with a trusted Personal Family Lawyer® will ensure your entire family is protected and cared for no matter what.

This article is a service of Crystal I. Zellar, Zellar & Zellar, Attorenys at Law, Inc., Personal Family Lawyer®. We don’t just draft documents, we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Family Wealth Planning Session™ during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

Avoid These 4 Mistakes When Naming Life Insurance Beneficiaries

Thu, 09 Jun 2022 16:49:54 GMT

Investing in life insurance is a foundational part of estate planning. However, when naming your policy’s beneficiaries, there are a number of mistakes you can make that could lead to potentially dire consequences for the very people you’re trying to protect and support.

The following four mistakes are among the most common we see clients make when selecting life insurance beneficiaries. If you’ve made any of these errors, contact your agent right away, so they can amend your policy to ensure its proceeds provide the maximum benefit for those you love most.

1. Failing to name a beneficiary

Although it would seem like common sense, whether intentional or not, far too many people fail to name any beneficiary at all. Others make the mistake of naming “my estate” as the beneficiary, rather than listing a specific person. Both of these errors will mean your insurance proceeds will have to go through the court process known as probate. Which is expensive and time consuming and unnecessary.

During probate, a judge will determine who gets your insurance death benefits, and this process can tie the benefits up in court for months or even years, depending on who the beneficiaries of your estate are under the law. Moreover, probate opens up the proceeds to creditors, which can seriously deplete—or even totally wipe out—the funds.

To prevent this, make certain you name—at the very least—one primary beneficiary. In case your primary beneficiary dies before you, you should also name a contingent (alternate) beneficiary. For maximum protection, name more than one contingent beneficiary in case both your primary and secondary choices die before you. This way, there will never be a void in the beneficiary designation.

2. Failing to keep beneficiaries updated

While failing to name any beneficiary at all is a huge mistake, not keeping your beneficiary designations up to date can be even worse. This is particularly true if you are in a second (or more) marriage and fail to remove an ex-spouse as beneficiary, which can leave your current spouse with nothing when you die.

To prevent this, you should review your beneficiary designations annually as part of an overall review of your estate plan, and immediately update your beneficiaries upon events like divorce, deaths, and births. When you are a client of ours, we have built-in systems to ensure your beneficiary designations (along with all other documents in your plan) are regularly reviewed and updated.

3. Naming a minor as beneficiary

Though you are technically allowed to name a minor child as beneficiary, it’s never a good idea. Minor children cannot receive insurance benefits until they reach the age of majority—which is age 18 in Ohio. If a minor is listed as the beneficiary, the proceeds of your insurance will be distributed to a court-appointed custodian, who will be in charge of managing the funds (often for a fee) until the age of majority, at which point all benefits are distributed to the beneficiary outright. Worst part yet, your 18 year old received all of the money when he or she turns age 18-far too young in most instances to successfully manage a large sum of money.

This is true even if the minor has a living parent. A child’s living parent could petition to the court to be appointed custodian, but there is no guarantee that a parent would be appointed as custodian, especially if the parent cannot qualify or pay for a bond. In many cases, a court could deem a parent unsuitable (if they have poor credit, for example) and instead appoint a paid fiduciary to control the funds.

Rather than naming a minor as beneficiary, you should set up a trust to receive the insurance proceeds, and name a trustee to hold and distribute the funds to a minor child you would want to benefit from your insurance proceeds. By doing so, you get to choose not only who would manage your child’s money, but also how and when the funds are distributed and used.

4. Naming an individual with special needs as beneficiary

Although a loved one with special needs is likely one of the first people you’d think of naming as beneficiary of your life insurance policy, doing so can have tragic consequences. If you leave the money directly to someone with special needs, it could disqualify that individual from receiving much-needed government benefits that typically pay for housing and medical needs.

Rather than naming someone with special needs as beneficiary, creating a “special needs trust” to receive the insurance proceeds is a better plan. This way, the money won’t go directly to the beneficiary upon your death, but instead, would be managed by the trustee of your choice and dispersed according to the trust’s terms, without affecting benefit eligibility.

The rules governing special needs trusts are complicated and vary greatly from state to state, so if you have a child with special needs, meet with us today to discuss your options. In the end, special needs planning involves much more than just life insurance—it’s about providing for a lifetime of care and protection.

Don’t create problems

While naming life insurance beneficiaries might seem like a simple task, if you’re not careful, you can create major problems for the loved ones you’re trying to benefit and protect. Meet with your Personal Family Lawyer® today to be certain you’ve done everything properly. We will review all of the elements of your plan and your assets and assist you in ensuring they are properly designated to accomplish your goals.

We can also assist you in putting in place planning tools like trusts—special needs or otherwise—to ensure the proceeds provide the maximum benefit for your beneficiaries without negatively affecting them in any way. Schedule a Family Wealth Planning Session with our Personal Family Lawyer to get started!

This article is a service of Crystal I. Zellar, your Personal Family Lawyer®. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Family Wealth Planning Session, ™ during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. Contact us today at mail@zellarlaw.com or by phone at 740-45208439, to set up a consultation!

Five Steps for Adding Digital Assets to Your Estate Plan

Thu, 09 Jun 2022 16:49:53 GMT

Although digital technology has made many aspects of our lives much easier and more convenient, it has also created some unique challenges when it comes to estate planning.

If you haven’t planned properly, for example, just locating and accessing all of your digital assets can be a major headache—or even impossible—for your loved ones following your death or incapacity.

And even if your loved ones can access your digital assets, in some cases, doing so may violate privacy laws and/or the terms of service governing your accounts. You may also have some online assets that you don’t want your loved ones to inherit, so you’ll need to take measures to restrict and/or limit access to such assets.

Given the unique nature of your online property, there are a number of special considerations you should be aware of when including online property in your estate plan. Here are a few of the steps you should take to help ensure your digital assets are properly accounted for, managed, and passed on.

1. Make an inventory: Create a list of all your digital assets, along with their login and password information. Some of the most common digital assets include cryptocurrency, online financial accounts, online payment accounts like PayPal, websites, blogs, digital photos, email, and social media.

Store the list in a secure location, and provide your fiduciary (executor, trustee, or power of attorney agent) with detailed instructions about how to locate and access your accounts. To make them easier to manage, back up any cloud-based assets to a computer, flash drive, or other physical storage device. Review this list regularly to account for any new digital property you acquire.

2. Include digital assets in your estate plan: Just like any other property you want to pass on, detail in your plan who you want to inherit each digital asset, along with your wishes for how the asset should be used or managed. If you have any assets you don’t want passed on, include instructions for how these accounts should be closed and/or deleted.

Do NOT include passwords or security keys in your planning documents, where they can be read by others. This is especially true for your will, which becomes public record upon your death. Instead, keep this information in a separate, secure location, and provide your fiduciary with instructions about how to access it. Consider using digital account-management services, such as Directive Communication Systems, to help streamline this process.

If you have particularly complex or highly encrypted digital assets like cryptocurrency, consider including provisions in your plan allowing your fiduciary to hire an IT consultant to deal with any technical challenges that might come up.

3. Restrict access: Include terms in your plan detailing the level of access you want your fiduciary to have to your digital accounts. For example, do you want your fiduciary to be allowed to view your emails, photos, and social media posts before passing them on or deleting them? If there are any assets you want to limit access to, we can help you include the necessary provisions in your plan to ensure your privacy is respected.

4. Include relevant hardware: Don’t forget to include the physical devices—smartphones, computers, tablets—upon which your digital assets are stored in your plan. Generally, non titled assets are considered personal property. Enabling quick access to these devices will make it much easier for your fiduciary to manage your digital assets. And since the data can be transferred or deleted, you can even leave these devices to someone other than the individual who inherits the digital property stored on them, if you wish.

5. Review service providers’ access-authorization functions: Some service providers like Google, Facebook, and Instagram allow you to give specific individuals access to your accounts upon your death. Review the terms of service for your accounts, and if these functions are available, use them to document who you want to access your accounts.

Double check that the people you named to inherit your digital assets using these access-authorization tools match those you’ve named in your estate plan. If not, the provider will likely give priority to the person named with its tool, not your plan.

Keep pace with technology

As technology evolves, you’ll need to adapt your estate plan to keep pace with the ever-changing nature of your digital and other assets. As your Personal Family Lawyer®, we know just how valuable your online property can be, and our planning strategies are specifically designed to ensure these assets are preserved and passed on seamlessly in the event of your death or incapacity. Contact us today to schedule a Family Wealth Planning Session at mail@zellarlaw.com , or call (740) 452-8439 to schedule your Family Wealth Planning Session.

This article is a service of Crystal I. Zellar, Personal Family Lawyer®. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Family Wealth Planning Session, ™ during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. Contact us at mail@zellarlaw.com or by phone at 740-452-8439 for more information or to schedule now!

Six Changes to Watch for in Your 2020 Taxes

Thu, 09 Jun 2022 16:49:49 GMT

Now is the time to start thinking about your 2020 return due in April. While it’s always a good idea to be proactive when it comes to tax planning, it’s particularly important this year.

In addition to annual updates for inflation, the Coronavirus Aid, Relief, and Economic Security (CARES) Act provides individual taxpayers with several new tax breaks, most of which will only be available this year. The sooner you learn about the different forms of tax-savings available, the more time you will have to take advantage of them.

Here are 6 ways your 2020 return will differ from prior years:

1. Waived RMDs

You are typically required to take an annual required minimum distribution (RMD) from your IRA, 401(k), or other tax-deferred retirement account starting in the year when you turn 72, but the CARES Act temporarily waived the RMD requirement for 2020. The waiver also applies if you reached age 70½ in 2019, but waited to take your first RMD until 2020, as allowed under the SECURE Act.

RMDs generally count as taxable income, so taking this waiver means that you may have lower taxable income in 2020 and therefore owe less income taxes for 2020.

However, there are a number of factors to consider, including the state of the market and your living expenses, when deciding whether or not to waive your RMDs. Given this, consult with us or your tax professional before making your final decision.

2. Higher standard deduction

If you do not itemize deductions, you can use the standard deduction to reduce your taxable income. Trump’s tax reform legislation nearly doubled the standard deduction starting in 2018, and it has increased even more for inflation since then. For 2020, the new standard deduction amounts include the following:

● $12,400 for single filers

● $24,800 for those who are married filing jointly

● $18,650 for people filing as a head of household

3. Higher contribution limits for certain retirement accounts

Depending on the type of retirement account you are invested in, the maximum amount you can contribute may have increased this year. The contribution limit for a 401(k) or similar workplace-retirement plan has increased from $19,000 in 2019 to $19,500 in 2020. If you are 50 or older in 2020, the 401(k) catch-up contribution limit is $6,500, up from $6,000.

On the other hand, the amount you can contribute to a traditional IRA remains the same for 2020: $6,000, with a $1,000 catch-up limit if you’re 50 or older. However, if you made too much money to contribute to a Roth IRA last year, the maximum income limits for contributing to a Roth have increased, so you may be able to contribute in 2020.

In 2020, eligibility to contribute to a Roth IRA starts to phase out at $124,000 for single filers and $196,000 for married couples filing jointly. Those phase-out limits are up from 2019, which started at $122,000 for single individuals and $193,000 for married couples.

4. New charitable deduction

In most years, you are only able to deduct charitable donations on your income tax return when you itemize deductions. However, the CARES Act included a provision to allow everyone to claim up to a $300 “above-the-line” deduction for charitable contributions, if you take the standard deduction in 2020. This change was designed to encourage people to donate money to charity to help with COVID-19 relief efforts.

5. Adoption credit changes

If you adopted a child in 2020, you can claim a higher tax credit on your 2020 return to cover your adoption-related expenses such as adoption fees, court and attorney costs, and travel expenses. The maximum credit amount for 2020 is $14,300, which is an increase of $220 from last year.

6. New rules for early withdrawals from retirement accounts

If your finances were seriously impacted by the coronavirus, you may be in dire need of funds to cover your expenses. Thanks to new rules under the CARES Act, you now have more flexibility to make an emergency withdrawal from tax-deferred retirement accounts in 2020, without incurring the normal penalties.

Ordinarily, permanent withdrawals from traditional IRAs or 401(k) accounts are taxed at ordinary income rates in the year the funds were taken out. And pulling out money before age 59 1/2 would also typically cost you a 10% penalty.

But thanks to the CARES Act, you can avoid the 10% penalty (if under 59 1/2) on up to $100,000 in coronavirus-related distributions (CRDs) from your retirement account. You are also allowed to spread such distributions over three years to reduce the tax impact. Or better yet, you can opt to put this money back into your retirement account—also within three years—and avoid paying taxes on the money all together.

That said, emergency withdrawals are only available to those individuals with a valid COVID-19-related reason for early access to retirement funds. These reasons include:

● Being diagnosed with COVID-19

● Having a spouse or dependent diagnosed with COVID-19

● Experiencing a layoff, furlough, reduction in hours, or inability to work due to COVID-19 or lack of childcare due to COVID-19

● Have had a job offer rescinded or a job start date delayed due to COVID-19

● Experiencing adverse financial consequences due to an individual or the individual’s spouse’s finances being affected due to COVID-19

● Closing or reducing hours of a business owned or operated by an individual or their spouse due to COVID-19

Because early withdrawals can negatively impact your retirement savings down the road, if you are looking to take advantage of this provision, you should consult with us and your financial advisor first. Also note that employers are not required to participate in this provision of the CARES Act, so you’ll also need to check with your plan administrator to see if it’s available at your workplace.

Maximize tax-savings for 2020

While the deadline for filing your 2020 income taxes isn’t until April 15, 2021, with all of the new COVID-19 legislation, the earlier you start planning your taxes, the better.

This article is a service of Crystal I. Zellar, Personal Family Lawyer®. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Family Wealth Planning Session™, during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session.

Remarrying in Midlife? Avoid Accidentally Disinheriting Your Loved Ones

Thu, 09 Jun 2022 16:49:45 GMT

Today, we’re seeing more and more people getting divorced in middle age and beyond. Indeed, the trend of couples getting divorced after age 50 has grown so common, it’s even garnered its own nickname: “gray divorce.”

Today, roughly one in four divorces involve those over 50, and divorce rates for this demographic have doubled in the past 30 years, according to the study Gray Divorce Revolution. For those over age 65, divorce rates have tripled.

With divorce coming so late in life, the financial fallout can be quite devastating. Indeed, Bloomberg.com found that the standard of living for women who divorce after age 50 drops by some 45%, while it falls roughly 21% for men. Given the significant decrease in income and the fact people are living longer than ever, it’s no surprise that many of these folks also choose to get remarried.

And those who do get remarried frequently bring one or more children from previous marriages into the new union, which gives rise to an increasing number of blended families. Regardless of age or marital status, all adults over age 18 should have some basic estate planning in place, but for those with blended families, estate planning is particularly vital.

In fact, those with blended families who have yet to create a plan or fail to update their existing plan following remarriage are putting themselves at major risk for accidentally disinheriting their loved ones. Such planning mistakes are almost always unintentional, yet what may seem like a simple oversight can lead to terrible consequences.

Here, we’ll use three different hypothetical scenarios to discuss how a failure to update your estate plan after a midlife remarriage has the potential to accidently disinherit your closest family members, as well as deplete your assets down to virtually nothing. From there, we’ll look at how these negative outcomes can be easily avoided using a variety of different planning solutions.

Scenario #1: Accidentally disinheriting your children from a previous marriage

John has two adult children, David and Alexis, from a prior marriage. He marries Moira, who has one adult child, Patrick. The blended family gets along well, and because he trusts Moira will take care of his children in the event of his death, John’s estate plan leaves everything to Moira.

After just two years being married, John dies suddenly of a heart attack, and his nearly $1.4 million in assets go to Moira. Moira is extremely distraught following John’s death, and although she planned to update her plan to include David and Alexis, she never gets around to it, and dies just a year after John. Upon her death, all of the assets she brought into the marriage, along with all of John’s assets, pass to Moira’s son Patrick, while David and Alexis receive nothing.

By failing to update his estate plan to ensure that David and Alexis are taken care of, John left the responsibility for what happens to his assets entirely to Moira. Whether intentionally or accidentally, Moira’s failure to include David and Alexis in her own plan resulted in them being entirely disinherited from their father’s estate.

There are several planning options John could’ve used to avoid this outcome. He could have created a revocable living trust that named an independent successor trustee to manage the distribution of his assets upon his death to ensure a more equitable division of his estate between his spouse and children. Or, he could have created two separate trusts, one for Moira and one for his children, in which John specified exactly what assets each individual received. He might have also taken advantage of tax-free gifts to his two children during his lifetime.

Whichever option he ultimately decided on, if John had consulted an experienced estate planning attorney like us, he could have ensured that his children would have been taken care of in the manner he desired.

Scenario #2: Accidentally disinheriting your spouse

Mark was married to Gwen for 30 years, and they had three children together, all of whom are now adults. When their kids were young, Mark and Gwen both created wills, in which they named each other as their sole beneficiaries. When they were both in their 50s, and their kids had grown, Bob and Gwen divorced.

Several years later, at age 60, Bob married Veronica, a widow with no children of her own. Bob was very healthy, so he didn’t make updating his estate plan a priority. But within a year of his new marriage, Bob died suddenly in a car accident.

Bob’s estate plan, written several decades ago, leaves all of his assets to ex-wife Gwen, or, if she is not living at the time of his death, to his children. State law presumes that Gwen has predeceased Bob because they divorced after the will was enacted. Thus, all of Bob’s assets, including the house he and Veronica were living in, pass to his children. Veronica receives nothing, and is forced out of her home when Bob’s children sell it.

By failing to update his estate plan to reflect his current situation, Bob unintentionally disinherited Veronica and forced her into a precarious financial position just as she was entering retirement. If Bob had worked with an estate planning attorney to create a living trust, he could have arranged his assets so they would go to, and work for, exactly the people he wanted them to benefit.

For example, if he wanted the bulk of his assets to go to his children, but didn’t want to cause any disruption to Veronica’s life, he could have put his house, along with funds for its maintenance, into the trust for her benefit during her lifetime, and left the remainder of his assets to his kids. This would allow Veronica to live in and use the house as her own for the rest of her life, but upon her death, the house would pass to Bob’s children.

Scenario #3: Allowing Assets to Become Depleted

Steve is a divorcee in his early 60s with two adult children when he marries Susan. Steve has an estate valued at around $850,000, and he has told his kids that after he passes away, he hopes they will use the money that’s left to fund college accounts for their own children. But he also wants to ensure Susan is cared for, so he establishes a living trust in which he leaves all his assets to Susan, and upon her death, the remainder to his two children.

Yet, soon after Steve dies, Susan suffers a debilitating stroke. She requires round-the-clock in-home care for several decades, which is paid for by Steve’s trust. When she does pass away, the trust has been almost totally depleted, and Steve’s children inherit virtually nothing.

An experienced estate planning attorney like us could have helped Steve avoid this unfortunate outcome. Steve could have stipulated in his living trust that a certain portion of his assets must go to his children upon his death, while the remainder passed to Susan.

Additionally, Steve might have used life insurance to provide cash for Susan’s care upon his death, or he could have purchased a second-to-die life insurance policy for himself and Susan, naming his children as beneficiaries. Such a policy would ensure that regardless of the amount remaining in the trust, Steve’s children would receive an inheritance upon Susan’s death.

Bringing families together

Along with other major life events like births, deaths, and divorce, entering into a second (or more) marriage requires you to review and rework your estate plan. And updating your plan is exponentially more important when there are children involved in your new union.

As your Personal Family Lawyer®, we are specifically trained to work with blended families, ensuring that you and your new spouse can clearly document your wishes to avoid any confusion or conflict over how the assets and legal agency will be passed on in the event of one spouse’s death or incapacity.

If you have a blended family, or are in the process of merging two families into one, contact us, as your Personal Family Lawyer®, today to discuss all of your options.

This article is a service of Crystal I. Zellar, Personal Family Lawyer®. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Family Wealth Planning Session™, during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love.

Six Things You Should NOT Include in Your Will

Thu, 09 Jun 2022 16:49:44 GMT

A will is one of the most basic estate planning tools. While relying solely on a will is rarely a suitable option for most people, just about every estate plan includes this key document in one form or another.

A will is used to designate how you want your assets distributed to your surviving loved ones upon your death. If you die without a will, state law governs how your assets are distributed, which may or may not be in line with your wishes.

That said, not all assets can (or should) be included in your will. For this reason, it’s important for you to understand which assets you should put in your will and which assets you should include in other planning documents like trusts.

While you should always consult with an experienced planning professional like us when creating your will, here are a few of the different types of assets that should not be included in your will.

1. Assets with a right of survivorship: A will only covers assets solely owned in your name. Therefore, property held in joint tenancy, tenancy by the entirety, and community property with the right of survivorship, bypass your will. These types of assets automatically pass to the surviving co-owner(s) when you die, so leaving your share to someone else in your will would have no effect. If you want someone other than your co-owner to receive your share of the asset upon your death, you will need to change title to the asset as part of your estate planning process.

2. Assets held in a trust: Assets held by a trust automatically pass to the named beneficiary upon your death or incapacity and cannot be passed through your will. This includes assets held by both revocable “living” trusts and irrevocable trusts.

In contrast, assets included in a will must first pass through the court process known as probate before they can be transferred to the intended beneficiaries. To avoid the time, expense, and potential conflict associated with probate, trusts are typically a more effective way to pass assets to your loved ones compared to wills.

However, because it can be difficult to transfer all of your assets into a trust before your death, even if your plan includes a trust, you’ll still need to create what’s known as a “pour-over” will. With a pour-over will in place, all assets not held by the trust upon your death are transferred, or “poured,” into your trust through the probate process.

Meet with us for guidance on the most suitable planning tools and strategies for passing your assets to your loved ones in the event of your death or incapacity.

3. Assets with a designated beneficiary: Several different types of assets allow you to name a beneficiary to inherit the asset upon your death. In these cases, when you die, the asset passes directly to the individual, organization, or institution you designated as beneficiary, without the need for any additional planning.

The following are some of the most common assets with beneficiary designations, and therefore, such assets should not be included in your will:

● Retirement accounts, IRAs, 401(k)s, and pensions

● Life insurance or annuity proceeds

● Payable-on-death bank accounts

● Transfer-on-death property, such as bonds, stocks, vehicles, and real estate

4. Certain types of digital assets: Given the unique nature of digital assets, you’ll need to make special plans for your digital assets outside of your will. Indeed, a will may not be the best option for passing certain digital assets to your heirs. And in some cases—including Kindle e-books and iTunes music files—it may not even be legally possible to transfer the asset via a will, because you never actually owned the asset in the first place—you merely owned a license to use it.

What’s more, some types of social media, such as Facebook and Instagram, have special functions that allow you to grant certain individuals access and/or control of your account upon your death, so a will wouldn’t be of any use. Always check the terms of service for the company’s specific guidelines for managing your account upon your death.

Regardless of the type of digital asset involved, NEVER include the account numbers, logins, or passwords in your will, which becomes public record upon your death and can be easily read by others. Instead, keep this information in a separate, secure location, and provide your fiduciary with instructions about how to access it.

5. Your pet and money for its care: Because animals are considered personal property under the law, you cannot name a pet as a beneficiary in your will. If you do, whatever money you leave it would go to your residuary beneficiary (the individual who gets everything not specifically left to your other named beneficiaries), who would have no obligation to care for your pet.

It’s also not a good idea to use your will to leave your pet and money for its care to a future caregiver. That’s because the person you name as beneficiary would have no legal obligation to use the funds to care for your pet. In fact, your pet’s new owner could legally keep all of the money and drop off your furry friend at the local shelter.

The best way to ensure your pet gets the love and attention it deserves following your death or incapacity is by creating a pet trust. We can help you set up, fund, and maintain such a trust, so your furry family member will be properly cared for when you're gone.

6. Money for the care of a person with special needs: There are a number of unique considerations that must be taken into account when planning for the care of an individual with special needs. In fact, you can easily disqualify someone with special needs for much-needed government benefits if you don’t use the proper planning strategies. To this end, a will is not a suitable way to pass on money for the care of a person with special needs.

If you want to provide for the care of your child or another loved one with special needs, you must create a special needs trust. However, such trusts are complicated, and the laws governing them can vary greatly between states.

Given this, you should always work with an experienced planning lawyer like us to create a special needs trust. We can make certain that upon your death, the individual would have the financial means they need to live a full life, without jeopardizing their access to government benefits.

Don’t take any chances

Although creating a will may seem fairly simple, it’s always best to consult with an experienced planning professional to ensure the document is properly created, executed, and maintained. And as we’ve seen here, there are also many scenarios in which a will won’t be the right planning option, nor would a will keep your family and assets out of court.

With this in mind, you should meet with us, as your Personal Family Lawyer®, to discuss your specific planning needs, so we can find the right combination of planning solutions to ensure your loved ones are protected and provided for no matter what. Schedule a Family Wealth Planning Session™ today to get started.

This article is a service of Crystal I. Zellar, Personal Family Lawyer®. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Family Wealth Planning Session™, during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love.

Don't Let Your Kids Move out without Signing These Documents

Thu, 09 Jun 2022 16:49:43 GMT

Watching your kids leave home to attend college or start their career can be an emotional time for you as a parent. On one hand, moving out on their own is a major accomplishment that should make you proud. On the other hand, having your kids leave the nest and face the world can also cause feelings of anxiety and fear.

Regardless of your feelings, once they reach 18, your children become legal adults, and many areas of their lives that were once under your control will be solely their responsibility. And one of the very first items on their to-do list as new adults should be estate planning.

While you may believe that planning is the last thing your kids need to be thinking about, it’s actually the first, because once they turn 18, you no longer have automatic access to their medical records and/or financial accounts should anything happen to them.

Before your kids head out on their own, you should discuss and have them sign the following three documents:

1. Medical Power of Attorney

Medical power of attorney is an advance directive that allows your child to grant you (or someone else) the legal authority to make healthcare decisions for them in the event they become incapacitated and cannot make such decisions for themselves.

For example, medical power of attorney would allow you to make decisions about your child’s medical treatment if he or she is knocked unconscious in a car accident or falls into a coma due to an illness. And with a properly drafted medical power of attorney, you will be able to access your child’s medical records, whereas without one you would not.

Should they become incapacitated without a properly executed medical power of attorney, you’d have to petition the court to become their legal guardian. While a parent is typically the court’s first choice for guardian, the court process can be slow—and in medical emergencies, every second counts. And a guardianship is expensive and time consuming, which can easily be avoided with a medical POA.

2. Living Will

Whereas medical power of attorney allows you to make healthcare decisions on your child’s behalf during their incapacity, a living will provides specific guidance about how your child’s medical decisions should be made while they’re incapacitated, particularly at the end of life.

For example, a living will allows your child to let you know if and when they want life support removed, if they ever require it. In addition to documenting how your child wants their medical care handled, a living will can also include instructions about who should be able to visit them in the hospital and even what kind of food they should be fed. For example, if your child is a vegan, vegetarian, gluten-free, or takes specific supplements, these things should be noted in their living will.

If your child has certain wishes for their medical care, it’s important you discuss these decisions with them and have those wishes documented in a living will to ensure they’re properly carried out.

3. Durable Financial Power of Attorney

Should your child become incapacitated, you’ll also need the ability to access and manage their finances, and this requires your child to grant you durable financial power of attorney.

Durable financial power of attorney gives you the immediate legal authority to manage their financial and legal matters, such as paying bills, applying for Social Security benefits, filing suit to collect damages, and/or managing banking and other financial accounts. Without this document, you’ll have to petition the court for such authority.

Start adulthood off right

As parents, it’s natural to experience anxiety when your children leave home. But with the support of your Personal Family Lawyer®, you’ll at least have peace of mind knowing that he or she will be well taken care of in the event of an unforeseen accident or illness. Contact Zellar & Zellar today to ensure that if your child ever does need your help, you’ll have the legal authority to provide it.

Learning to Flourish, Even in a Financial Crisis

Thu, 09 Jun 2022 16:49:41 GMT

Maybe you, like many of us, have been raised to think that the safest way to live in the working world is to have a good career and a steady paycheck. This financial crisis is challenging that framework for many people. Even if you had a steady job, and even if you still have one, by now you’ve learned how easy it is for that security to disappear overnight.

A recession can reveal all of our negative thoughts and internal monologues about money. A sad, yet common, attitude is for us to see money as a scarce resource, and income as something that’s outside of our control. Thinking or talking about money can trigger feelings of guilt and shame in many people.

It doesn’t have to be that way. The truth is, money is a tool that you can access and multiply, independent of anyone else’s permission. And even if you do have anxieties that keep you from seeing how money can be a positive part of your life, that can change.

Other people may react to this period of uncertainty with the same, old-fashioned advice: live within your means and keep 3–6 months’ worth of income in an emergency fund. If you have a secure job that pays you well, and that you enjoy, this is great advice. But, if that’s not what is true for you, you may be looking at this time as a great opportunity to make a shift and create your own financial security.

Consider this: what if you weren't relying on a check from your boss (or the unemployment office, as the case may be)?

What if a shift in mindset could change your relationship with money, and set you on track to secure you against economic highs and lows in a way you never even dreamed possible? Or, maybe you have been dreaming about it, but don’t know how or where to start to move it all forward.

A financial crisis doesn’t have to be a crisis for you or your family. In fact, this could be the perfect time to access the wealth of resources currently available to fund your next level of growth. It’s a time to invest in yourself, and to learn to use your gifts, skills, and talents to serve others in a big way. That way, you won’t have to depend on anyone else, including your job, corporations, or the government, to sustain you.

Whether or not you have a day job, see this moment as a wake-up call. It’s time for you to take stock of your greatest resource—yourself. What can you do that other people can’t? What can you give that other people need? Start exploring the resources within you, and you’ll realize that you’ve found your way of contributing value to the world.

Everyone has something to offer, and that offering goes far beyond just the products or services you give your potential clients. If you use your talents to become a higher earner, you can establish yourself as a leader in your community, and affect change in areas that you care about. You can contribute to the growth of your local economy by employing people, and be part of what helps pull the larger economy out of the rut that it may be in.

Even in the lowest of times, even in recessions, there have been many, many people who were able to forge their own paths and grow their wealth through entrepreneurship. You can be one of them.

Things have been tough for our lives and livelihoods, it's true, but we shouldn’t let this moment go by without considering what we can learn from it. I hope that you are learning about how to be prepared for an emergency when it comes to your savings, investments, and income, but not necessarily in the way we've been taught in the past.

As we go into this brave new world, the most important thing you can have is a high-value skill that is needed and wanted, no matter what. The next step is to create the systems and structures to offer that skill in a way that you can rely upon, no matter the ups and downs of the economy. This is a lesson that will benefit you, and that you can encourage in your family and friends, and serve as an example for your children—raising a new generation of economic and community leaders.

We are in a time when your best investment is in your resourcefulness, and your creativity, and your community. Bring these together, and your family can rely on you and what you've created, and you can trust that your children will be great, no matter what.

If you need help figuring out your next step, please call us, and we can help.

This article is a service of Crystal I. Zellar, Personal Family Lawyer®. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Family Wealth Planning Session,™ during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session.

Think Your 401(k) Is Flexible? 6 IRA Benefits Your 401(k) Doesn’t Have

Thu, 09 Jun 2022 16:49:39 GMT

When it comes to retirement plans, IRAs and 401(k)s provide many of the same benefits. But in certain situations, an IRA can outperform a 401(k). IRAs aren’t right for everyone, so you should become familiar with the advantages IRAs have over 401(k)s before you transfer funds or set up a new account. To help you do this, here are a few benefits you can reap from an IRA not available in a 401(k).

1. Qualified Charitable Distributions (QCDs)

IRAs allow you to take QCDs and send them directly to the charity without including the distribution amount in your taxable income. This often results in a lower tax bill. You can also use your QCDs to offset your required minimum distribution.

2. Penalty-Free Distribution for Higher Education

A 401(k) distribution for higher education expenses will incur both a tax and a penalty. Taking an early IRA distribution to pay for higher education expenses for you or certain family members is penalty-free.

3. Freedom from Distribution Restrictions

Opportunities for early distributions of 401(k)s are limited at best. Subject to the plan administrator’s rules as well as the tax code, 401(k)s require a compelling reason such as a hardship, to receive an early distribution. Conversely, IRA distributions are restriction free. You can take an IRA distribution at any time and do not need an approved reason like 401(k)s.

4. Aggregate Required Minimum Distributions (RMDs) From Multiple Accounts

If you have multiple IRAS, you can aggregate the RMDs for your accounts and then take that amount out of one or any combination of your IRAs. Doing this with your 401(k)s results in steep penalties.

5. No Withholding

You can opt-out of tax withholding from an IRA distribution but not with a 401(k) distribution. This is a great benefit for those who end up with little or no tax liability at the end of the year.

6. Self Direction

One of the best parts of having an IRA, instead of a 401k, is that you have the most flexibility in how your IRA assets are invested, whereas with a 401k, your investment options are limited to those provided by the 401k Administrator. With an IRA, you can move your entire retirement account into a self-directed IRA account and then invest the money anywhere you want, including in real estate and start-ups. Yes, it’s true! You get to choose. And, we can help you set up a self-directed IRA and invest your retirement account where you want.

Deciding whether to maintain your retirement account as an IRA or a 401k is a critical decision, and requires that you understand the benefits and limitations of both.

Relying on generalized information found online is not enough to protect your best interests. Guidance from a Personal Family Lawyer® provides personalized, legal assistance when planning for the care of your retirement portfolio.

If you are serious about ensuring you make the best legal and financial decisions throughout your lifetime, meet with us as your Personal Family Lawyer®. We offer Family Wealth Planning Sessions that help you protect and preserve your wealth for future generations. Before the session, we’ll send you a Family Wealth Inventory and Assessment™ to complete that will get you thinking about your retirement goals, and we can help you achieve them.

This article is a service of Crystal I. Zellar, Zellar & Zellar, Attorneys at Law, Inc., Personal Family Lawyer®. We don’t just draft documents, we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Family Wealth Planning Session™ during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. Begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

Planning for the Care of Your Pet: How to Include Your Pet in Your Estate Plan

Thu, 09 Jun 2022 16:49:38 GMT

If your pet is beloved as a family member, you likely want to ensure that he or she will be well cared for in the event of your incapacity or death.

Without explicitly stated wishes, these furry family members could end up without a home of their own, if you die or become unable to care for them.

To prevent this tragic outcome, include planning for your pet in your estate plan. Here are a few important issues to consider when planning your estate with your beloved pet in mind.

Who will get ownership of your pet?

Pets are property and not people. Because of this legal distinction, an agent must be named in your estate plan to take ownership of your pet or arrange for your pet to have a loving home. In absence of a legally enforceable document stating your wishes, your pet could suffer the fate of many when their owners pass on: an animal shelter.

How will that person provide for your pet?

Pets require food and medical care. These costs can be significant if your pet has a health condition or is aging. Money can be set aside for your pet with specific directions about how those funds can be used and by whom.

How will your pet be cared for?

You may want to consider leaving instructions on how your pet should be cared for, as well as consider financial incentives for the person you’ve named to care for your pet to care for your pet pursuant to your wishes. This is especially important if your pet has any health conditions, is aging or is an exotic animal. Detailed instructions (and the money to carry them out) will ensure your pet’s new guardian can provide the same quality of care you provide now.

To ensure all your loved ones are cared for when you die, it is necessary to create a comprehensive estate plan that will ensure all your wishes are carried out, even if you don’t consider yourself financially wealthy. If you are ready to take that step toward peace of mind, begin by coming in to meet with us. As your Personal Family Lawyer®, we can help you create a comprehensive estate plan that will protect your assets, your wishes and all your loved ones, furry friends included.

This article is a service of Crystal I. Zellar, Zellar & Zellar, Attorneys at Law, Inc., Personal Family Lawyer®. We don’t just draft documents, we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Family Wealth Planning Session™ during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.