Do a Google search for “digital wills” or “online estate planning,” and you’ll find dozens of different websites offering low-cost, do-it-yourself (DIY) and sometimes even free estate planning documents, such as wills, trusts, powers of attorney, and healthcare directives.
From LegalZoom® and Rocket Lawyer® to TrustandWill.com and FreeWill.com, these DIY legal documents may seem like a cheap and easy way to finally cross estate planning off your to-do list—and do so without having to pay a lawyer big bucks to assist you. After all, you’ve been able to prepare and file your taxes online for years, is estate planning really that much different? And aren’t lawyers using the very same forms you find on these DIY document websites?
An Inconvenient Truth
This kind of thinking is exactly what DIY and online estate planning services would like you to believe, but it’s far from true. In fact, relying on DIY or online estate...
In a Facebook post last year “Processes to go through with your parents before they die,” Daniel Schmachtenberger, founder of the Critical Path Institute, outlined seven simple exercises to use with your parents that can offer significant healing and completion for their life and yours.
While Daniel shared these processes in the context of the impending death of a parent, the reality is that your parents are heading toward death, even if there is no official diagnosis. Sheesh man. That said (I never want to type that out again) starting these processes when mortality isn’t immediately on the table is even better. Phew, let's look at that option.
1. Help them make a timeline of their life
Create a timeline of all the big events in their life, starting with birth and their earliest memories up to the present. This is a great way to get to know them even better while you still can. Recalling their life through these stories can help them harvest the...
One of the biggest appeals of cryptocurrency, like Bitcoin, is that it is decentralized, unregulated, and anonymous. There are no financial institutions controlling it, and unless you tell someone you own digital currency, it remains a secret.
When it comes to estate planning, however, that kind of secrecy can be disastrous. In fact, without the appropriate planning protections in place, all of your crypto wealth will disappear the moment you die or become incapacitated, leaving your family with absolutely no way to recover it.
Indeed, we’re facing a potential crisis whereby millions—perhaps billions—of dollars’ worth of family wealth could potentially vanish into thin air unless you take action to protect your digital assets with estate planning. Fortunately, putting the appropriate safeguards in place is a fairly straightforward process for a Lawyer to assist you with completing.
The first step in securing your crypto assets is to let your heirs...
Unlike many estate assets, if you’re looking to collect the proceeds of a life insurance policy, the process is fairly simple provided you’re named as the beneficiary. That said, following a loved one’s death, the whole world can feel like it’s falling apart, and it’s helpful to know exactly what steps need to be taken to access the insurance funds as quickly and easily as possible during this trying time.
And if you’ve been dependent on the deceased for regular financial support and/or are responsible for paying funeral expenses, the need to access insurance proceeds can sometimes be downright urgent.
Here, we’ve outlined the typical procedure for claiming and collecting life insurance proceeds, along with discussing how beneficiaries can deal with common hiccups in the process. However, because all life insurance policies are different and some involve more complexities than others, it’s always a good idea to consult with a Personal...