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Archive for the ‘Power of Attorney’ Category

An alarming but not at all surprising statistic, is that more than half of Americans do not have any estate plan in place, should they unexpectedly pass away or become incapacitated. In a recent online article at caring.com, the author cites a 2017 Princeton Survey Research Associates International survey reflecting that only 42% of U.S. adults have estate planning documents such as a will, a trust, or a power of attorney. Some money quotes from the article, which is well worth reading in its entirety provide:

According to a new Caring.com survey, only 42 percent of U.S. adults currently have estate planning documents such as a will or living trust. For those with children under the age of 18, the figure is even lower, with just 36 percent having an end-of-life plan in place . . .

The study, conducted in January by Princeton Survey Research Associates International, asked 1,003 adults whether they currently have estate-planning documents in case of their death, as well as the reason why not (if applicable).

Forty-seven percent of survey respondents without estate documents said, “I just haven’t gotten around to it.” This is unsurprising to experts, who say an aversion to end-of-life planning is not only rooted in fear but also procrastination . . .

As one might expect, older Americans are the most likely demographic to have an estate plan in place. According to the survey, 81 percent of those age 72 or older have a will or living trust. However, that percentage declines significantly with younger people.

A staggering 78 percent of millennials (ages 18-36) do not have a will. Even more surprising is that 64 percent of Generation X (ages 37 to 52) doesn’t have a will, and nearly half of respondents in the 53 to 71-year-old age group (40 percent) said they don’t have one.”

Again, I recommend that you read the entire article. If you are one of the adults in this survey that has no estate plan in place, 2019 is a great time to start one. We offer free, in person, one on one, no obligation initial consultations to answer your questions about estate planning and offer suggestions on what might work best for your circumstances. Email me at anytime with any questions if you would like to set up an appointment at guy@guymurraylaw.net.

#jointtenancy #jointtenants #nipomo #nipomolaw #nipomolawyer #probate#nipomoprobate #nipomotrusts #nipomowills #trustsandestates #trustlawyer#probatelawyer #personalinjury #triallawyer #trusts #wills #estateplan #powerofattorney#healthcaredirective #estateplanning #digitalassets #advancedirective #revocabletrust

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This story is indeed tragic; however, it was completely avoidable, and emphasizes with a harsh reality the absolute need to create and have in place a valid, functioning estate plan, including a trust, will, power of attorney, and health care directive. The link to the entire story in the Boston Globe is below. I encourage you to read the entire story. Here are a copy of money quotes:

“Noel Aimes, who never learned to read and write, wanted the house to stay in the family, and in the 1990s proudly built additions to accommodate its growing numbers, Harrison said. But because he died two years after his wife and didn’t name a beneficiary, state law allows his blood relatives — specifically his nieces and nephews in Barbados — to claim the house over a stepchild.

Since you were not an heir-at-law, your appointment is in jeopardy of being set aside,” wrote Gayle Stone-Turesky, a Boston lawyer who was appointed by the state as a public administrator, who is brought in to handle estates where there is no will and no blood heir living in the state.”

If you don’t have an estate plan in place, or if you have one that needs updating, feel free to email me at anytime for a no cost, no obligation, in person consultation. You can reach me at guy@guymurraylaw.net. Tomorrow is promised to no one . . .

https://www.bostonglobe.com/metro/2019/02/06/patriarch-leaves-will-and-home-meant-for-his-cambridge-family-may-lost/JJ0HULAFuoY38eQUt6JBiJ/story.html?fbclid=IwAR3HnOqU_cmK2dtG6ismgqCw7Dt5rI09E0VWwKM6aQblATeAd2uiA-jwlU0

#jointtenancy #jointtenants #nipomo #nipomolaw#nipomolawyer #probate #nipomoprobate#nipomotrusts #nipomowills #trustsandestates#trustlawyer #probatelawyer #personalinjury#triallawyer #trusts #wills #estateplan#powerofattorney #healthcaredirective#estateplanning #digitalassets #advancedirective#revocabletrust

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255 N. Wilson Street, Suite B
P.O. Box 180
Nipomo, CA 93444
(805) 929-7150
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guy@guymurraylaw.net

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Below are several links that discuss various aspects of estate planning. Please review them for further in depth information on the subject areas they highlight.

Do I need estate planning

Do I need a will

California Statutory Will

Do I need a living trust

Schiavo case and importance of a living will

(more…)

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We are pleased to announce that we are now accepting Trust and Estate Administration Clients. What exactly is trust and estate administration? When a person dies, the process by which the estate is disbursed is called an administration. Every estate, whether large or small, whether the decedent left a will or a trust must have an administration. Whether it is a probate estate administration, or a trust administration depends on whether the decedent left a will, died intestate, or whether he or she had revocable trust in place at the time of death. (more…)

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