Wednesday, March 23, 2016

The Top Reason People Don't Plan: Procrastination!

As a wills and trusts lawyer specializing in estate planning I can confirm that there are many reasons folks have not completed their plan. Interestingly the number reason is the easiest one to fix--procrastination.

In the article below that road block is discussed further:

Top Enemy of Estate Planning Article

We all know about procrastination and we all know what it does: nothing. In my field of wills and trusts it has disastrous results. When you procrastinate about your estate plan you place at risk not just yourself but your entire family.

By not planning you have no protection against any risk. Not just the bad risks, death or total disability, but ANY risk. One of the most important reasons to do your will and estate plan is reduce or eliminate risk. Advantages of planning with urgency-planning NOW include:

We face each day a decision point. Will we take positive action today or will we put it off, sometimes putting it off multiple times or days. The thing about estate planning is that you will never know if you waited too long. Well, maybe you will as you lie in the bed in the hospital or rest home. Certainly your family will know and they are the reasons that most clients get started and finish their will and estate plan.

Decide today that it is time to move from being unprepared to having yourself and your family protected.

Let us help you today. Please join our conversation. Let me know if you have questions or comments.

Bernie Greenberg

Monday, February 29, 2016

Business Continuity Planning: Estate Planning for Business Owners

Many business owners have not addressed what happens to their business and business interest should certain events occur. What about you? Do you have a written plan if any of these events happen:

1. You are sick and can't work.
2. You are disabled and won't work again.
3. You die.

Planning for these areas is known as business continuity planning or more simply, estate planning for business owners. There are two main issues at play:

1. What happens to the business if something happens to you?

2. What happens with YOUR interest in the business if something happens to you?

If you don't know the answers to these or don't have a written plan that addresses these, it is time to sit down with an estate planning attorney specializing in estate planning for business owners. The qualifications necessary are covered in other articles below.

Feel free to call or email me with questions on this or any of our articles. Thank you for your interest.

Bernie Greenberg

Monday, January 4, 2016

New Year's Resolutions: Get Your Will Done

What's on your list of resolutions for 2016? If you're like more than 55% of folks over 18 you may have completing your will or estate plan on your list. That is a very good resolution and what's interesting is how many years it is always near the top of so many people's list.

Here is an excellent article on how to approach getting that annual resolution finally done:

As you think about this resolution, remember that doing your will or estate plan includes the following components:

1. Will or Trust.

This details how things will happen should something happen to you.

2. Durable Powers of Attorney.

There are two different ones: a financial power of attorney and a health care power of attorney. These specify who you want to make your decisions when you can't speak for yourself.

3. Living Will.

In the living will you specify how you want to be cared for at the end of life when you can't speak for yourself.

4. Stand Alone HIPAA Release.

To deal with the pesky HIPAA or medical privacy laws, you want to have a stand alone HIPAA release so doctors and medical facilities know who they can speak with on your behalf.

5. Sync Titles and Beneficiary Designations.

To avoid having a joint tenancy title or bad beneficiary designation defeat your plan, make sure that these are synced with your new or updated plan.

So when you tackle that resolution to get your will done, now you know the five basic components necessary to complete that task.

Do well with your resolutions list and best wishes for success in 2016! Email me at: or call me at 303-688-3535 with any questions or to get help completing this critical item on your list!

Bernie Greenberg