One of the most common questions families ask when discussing their estate plan is, "How much should my children know?" For some families, conversations about money happen openly around the dinner table. For others, finances have always been considered private. Neither approach is necessarily ri...
Many people are surprised to learn that owning property in more than one state can create complications for their loved ones after they pass away. Over the years, I have spoken with countless families who have worked hard to build a legacy. For some, that means a family cabin in the Poconos and ...
As a father of three, I always reflect on what it truly means to leave a legacy on Father's Day. While many people think of legacy in terms of money or property, I have found that most parents, and especially family business owners, are thinking about something much bigger. They want to pass alon...
One of the reasons I am so passionate about estate planning is that I have seen firsthand what can happen when good plans are not updated after major life changes. In many cases, the problem is not that someone failed to plan. The problem is that life changed and the plan did not. A divorce, a r...
The Transition into Adulthood Happens Faster Than We Think As a father of three children myself, I understand how emotional and exciting the transition to college can be for families. One moment you are helping your child learn to ride a bike, and the next you are helping them pack for a dorm ro...
As families gathered together over Memorial Day weekend, many people were reminded of just how important family, legacy, and long-term planning truly are. Holidays often bring generations together around the same table, creating moments to reflect on the people we love most and the future we hope...
For many business owners, a closely held business is far more than a source of income. It represents years of hard work, sacrifice, and personal investment. As a business owner myself, I understand how much time and energy go into building something meaningful, and I have also seen firsthand how ...
There's a quiet shift happening around many kitchen tables and in family meetings across the country. More and more, women are not just participating in financial conversations, they're leading them. Whether it's a daughter stepping in to help aging parents, a spouse managing household finances, ...
Some of the most meaningful conversations I have with clients are not about documents or numbers, they're about family. People often begin by talking about what they've built over the years, but very quickly the conversation turns to what truly matters: their children, their relationships, and th...
When most people think about estate planning, the focus is on making sure their wishes are clearly documented. Just as important, however, is making sure that the process is as simple and efficient as possible for the people who will be carrying those wishes out. This is something I care deeply ...
There is a certain sense of relief that comes with finishing your estate plan. For many people, it feels like checking off something important that has been sitting on the to-do list for far too long. But life has a way of moving forward, even when we are not thinking about it. Families grow, r...
If you've ever tried to choose one person in your family to handle something important, you already know, it's not always easy. Now imagine that decision involves managing money, making judgment calls, and sometimes saying “no” to the very people you love. That's exactly what you're doing when y...
It's a situation that surprises many families and one that underscores just how powerful beneficiary designations can be. In a widely discussed case, a Michigan man spent his career building a substantial retirement account, worth hundreds of thousands of dollars. Decades earlier, when he first e...
When people think about estate planning, they often focus on what they are leaving behind: homes, investments, family businesses, or other assets they've worked hard to build over a lifetime. But from the estate administration side, we often see a different perspective. Families come in after a...
Most people don't think about estate planning when they see something in the news about an NFL team owner. It feels distant, something that only applies to people with extraordinary wealth or complicated holdings. But every now and then, a situation like that highlights something much more relat...
As a business owner and a father, I find myself thinking often about the future, not just of my family, but of the businesses I've worked hard to build. When you pour years of effort, sacrifice, and pride into a business, it naturally becomes something more than just work. It becomes part of your...
When most people think about life insurance, they think about income replacement. While that is important, in estate planning, life insurance can serve as a highly strategic tool, one that works in coordination with your overall plan. I call life insurance the “Swiss Army Knife” of estate plannin...
When a loved one passes away, families expect to grieve, gather, and begin the process of settling affairs. What they don't expect is confusion, tension, or legal complications. While many estates are relatively straightforward, others involve moving parts that can quickly become overwhelming, s...
Your financial advisor, your CPA, and your estate planning attorney each play a different instrument. Together, they can serve as a "Life Team" to help you reach your long-term goals.
When couples build a life together, they don't always start from the same financial place. One spouse may own a business, family real estate, or inherited assets, while the other has fewer assets or different financial responsibilities. This situation is far more common than people realize, and i...
Last week, we talked about the legal and financial side of retirement and succession planning for business owners, things like structure, tax planning, documentation, and strategy. But there's another part of this transition that doesn't get talked about nearly enough: the emotional side of step...
Running a business has a way of blurring the lines between work and life. For many entrepreneurs, the business isn't just how you earn a living, it's something you built from the ground up, often with your family's future in mind. As both an entrepreneur and an attorney, I see this firsthand ever...
Growing up in a family with a multigenerational business gives you a unique perspective on wealth and legacy. You learn early that a family enterprise is not just about numbers on a balance sheet. The more important factors are harder to quantify, such as relationships, shared responsibility, and...
When people think about estate planning, they often focus on homes, bank accounts, and retirement savings. But many estates include assets that don't fit neatly into those categories: artwork, collectibles, jewelry, family heirlooms, or other personal property that carries both financial and emot...
When a loved one passes, stepping into the role of executor or trustee can feel overwhelming, especially when the estate is substantial. In many cases, the role comes at a time of grief, family dynamics may already be strained, and the responsibilities can feel far more complex than anyone expect...