Wednesday, September 24, 2014

The Sixth Reason Why Your Family Will Have To Hire An Attorney For Your Estate


Lynn A. Dean
Estate Planning Attorney
6. Spouse or beneficiary change
Have you remarried? Has your child divorced or had new children? Have your daughters remarried and have different names? Sometimes people name beneficiaries on a life insurance, annuity or an IRA policy, and never review the beneficiary designation again. The new spouse will not be happy when she finds out the insurance money is going to go to the previous wife!


We bring experience, knowledge and compassion to the Estate Planning process.  Don’t leave your loved ones to fight through the unintended consequences of an outdated estate plan. The Law Office of Lynn A. Dean will happily review your existing documents to align with your current circumstances and future goals. Contact us to find out how. 

Wednesday, September 17, 2014

Five of Six Reasons Why Your Fmaily Will Have To Hire An Attorney For Your Estate

Lynn A. Dean
Estate Planning Attorney
5. The document was written with specific instructions that cannot be carried out by the Executor

When a document is created to leave a specific asset, or a specific dollar amount, to a beneficiary, the Trustee/Executor may not be able to follow the instructions of the decedent if the assets have been sold, or decreased in value. Banks are no longer willing to set up accounts with “two signatures required”, so if the document names co-Executors or co-Trustees, they may have a problem acting on behalf of the estate.

Once an estate plan has been created, an ongoing review needs to take place at least every 2-5 years. This allows your documents to stay up-to-date with your current needs and goals. An outdated plan is often worse than no plan at all!

The Law Office of Lynn A. Dean is committed to providing services and information to those struggling to make important decisions for themselves, older family members or friends. Click here for some resources you may find useful. 

Wednesday, September 10, 2014

Four of Six Reasons Why Your Family Have To Hire An Attorney For Your Estate

Lynn A. Dean
Estate Planning Attorney
4. A person has been named to be the Trustee/Executor who is not available, or cannot qualify

The documents should be reviewed to ensure that the person(s) who have been designated as the Trustee/Executor are still available to act in that capacity. Some documents have been created listing banks that no longer exist. Some documents require bonding of the Executor, and if the person named to be executor has filed bankruptcy, they will not qualify for a bond.

Don’t leave your loved ones to fight through the unintended consequences of an outdated estate plan. The Law Office of Lynn A. Dean will happily review your existing documents to align with your current circumstances and future goals.

Wednesday, September 3, 2014

Three of Six Reasons Why Your Family Will Have to Hire an Attorney For Your Estate

Lynn A. Dean,
Estate Planning Attorney
3. A gift has been made to a child who is disabled, and receiving government benefits

A child receiving benefits who receives an inheritance from a Will, Trust, or an IRA, will lose their benefits. With proper planning, a special needs trust can be created by the parents, and the child will have the benefit of the gift, and will not lose their benefits.

A Special Needs Trust protects the assets of a beneficiary with special needs after their parents’ death. If you are caring for an individual with special needs, you need to think about how that care will continue when you are no longer in the picture.