Posts by VMGOKEA Law
Aretha Franklin: Too Much Estate Planning
Too little estate planning can put your heirs in a bind and tie up your estate in time-consumingand costly probate litigation. But as the legal saga of Aretha Franklin’s estate shows, too muchestate planning—in particular, planning that introduces uncertainty about your final wishes—canalso be problematic.After her death, there are lessons to learn from the Queen…
Read MoreGloria Vanderbilt: No Trust Fund Kids for Her
We are at the precipice of what is being called “The Greatest Wealth Transfer in History,” as baby boomers are set to pass down $84 trillion to younger generations.1 Every parent wants to see their children succeed. But some may wonder whether an inheritance will help promote or hinder the future success of their children.…
Read More12 Common Mistakes People Make With Their Estate Plans
Show Your Love for Valentine’s Day As an attorney meeting with people day-in-and-day-out, I see many of the same estate planning mistakes made time and again by people who either fail to plan properly or who use “do-it-yourself” estate planning websites or forms in an effort to save money. Without professional guidance, this can cause…
Read MoreWhat Advice Do I Give to Clients?
Include Special Needs Trust Planning in Your Revocable Living Trust If you created your estate planning, you likely have heard of special needs planning. You know you should plan for a beneficiary who has special needs by creating a special needs trust (SNT) to hold their inheritance otherwise the special needs beneficiary might lose the…
Read MoreWearable Technology: What Does It Mean for You?
Recent headlines have been replete with data breach stories in the last few years. The number of companies and government agencies that have had their systems hacked is staggering. Names, addresses, Social Security numbers, credit card numbers, and other personal information have all been stolen by hackers from companies like Target, J.P. Morgan, Home Depot,…
Read MoreLegal Issues Worth Pondering Before Ride-Sharing
Ride-sharing pioneers Uber and Lyft are proving to be very successful in markets around the country and the globe. Uber operates in 250 cities in 50 countries, and Lyft is in 70 cities across the United States. The draw of these companies is the ease with which customers can hail and pay for a ride,…
Read MoreAutonomous Cars and You
Have you ever slammed on the brakes of your car to avoid a crash? If so, odds are that you were using automated vehicle technology. Major auto manufacturers are racing to develop self-driving car capability, but will we see that technology soon? How will this cutting-edge technology affect you? What Is a Self-Driving Car? Let’s…
Read MoreZuckerberg Did Not Donate 99% of His Shares to Charity- Here’s What He Did Instead + What He Could Do Even Better
When I heard that Mark Zuckerberg and his wife, Dr. Priscilla Chan, were donating 99 percent of their Facebook shares — currently worth more than $45 billion — to charity, I immediately assumed they had been the beneficiaries of smart family wealth planning advice and would be funding a private foundation that could be used to save money on…
Read MoreDid You Have The Talk?
Talking with Your Family About Your Estate Plan Is it time to have “the talk” with your kids? We’re not talking about a “birds and bees” talk but one that is equally important, perhaps more so. Everyone has concerns about what will happen when they die. Some people worry about their homes, cars, or money.…
Read MoreAre You Leaving Your Retirement Account at Risk Due to Poor Planning?
You’ve spent your entire life building up your retirement account. It may even be the biggest asset you’ll leave behind for the people you love. If that’s the case, you may want to consider creating a special trust designed specifically to receive your retirement account assets in the event of your death. If you leave…
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