One of the questions I get from people is whether they should set up a revocable living trust. Now, I can’t answer that question for you in a short video on the Internet, but what I can tell you is that over 90% of the people choose to have a revocable living trust as the foundation of their estate plan. It really comes down to two factors, cost and control.

On the first side with cost is people look at the real cost of probate and realize that having a revocable living trust is the less expensive option. It allows them to avoid probate and having their assets go through court, which can take a very long time and is very expensive.

The second thing has to do with control. A lot of people want to be in control of their assets when they pass away and want to decide how those assets will be distributed to their loved ones when they’re deceased. With a revocable living trust, you can do that. You can set out how you want your assets to be distributed, to whom you want your assets to be distributed, and when those assets are distributed.

So for most people, a revocable living trust might make sense. When we meet with individuals and families, we do a deep dive into their financial history and background and find out what their assets are, and more importantly, find out what their goals and objectives are to protect themselves and their loved ones.

If you’d like to schedule a time to talk about whether a revocable living trust is right for you, please click the link below and we’d be happy to schedule up a time to meet. I’m Matthew Crider and thank you for watching:

https://criderlaw.net/contact/

And the answer is yes, you should do estate planning anytime you change jobs. The reason for this is you will have a change not only in your income and not only in the job that you’re holding, but you will also likely have a change in the retirement benefits and other employment benefits that you will receive through your new employer.

You’ll want to make sure that your beneficiary designations are up to date and current, and you’ll also want to make sure that your beneficiary designations work with your estate plan, if you have one. And if you don’t have an estate plan, you’ll want to establish one so that you can direct who your property goes to. And more importantly, you can create documents that will appoint someone to make financial and healthcare decisions for you if something were to happen to you.

So changing jobs is one of those major life events that would warrant a sit down meeting with an attorney to talk about your estate planning goals, your estate planning objectives, and talk about what’s changed in addition to your new job.

If you have questions about estate planning and would like to discuss this more, please click the link below or contact us through our website. I’m Matthew Crider and thank you for watching.

https://criderlaw.net/contact/

If you’re a parent of a minor child, it is imperative that you do estate planning. And estate planning when you have minor children is usually focused on who will take care of the children if something were to happen to you. So if you pass away unexpectedly, you would want to have guardians appointed so that they can step in and raise your children until your children become adults.

The other aspect of estate planning if you are a parent with minor children, has to do with incapacity planning. You’ll want to make sure that you have a plan in place where you appoint someone to make financial and healthcare decisions for you if you become incapacitated.

So if you are a parent of a minor child, I encourage you to click the link or contact us through our website and I would love to sit down with you and talk about your planning so that you can protect your loved ones and your minor children.

https://criderlaw.net/contact/

One question that I receive is about estate planning for senior citizens. And first, the question is, if I’m a senior citizen, do I need estate planning? And second is, if I’ve already done estate planning, do I need to have my plan reviewed and updated? And the answer to both of these questions is yes.

If you are a senior and you have not done estate planning, you definitely should sit it down with an attorney to talk about estate planning. If you’ve done estate planning, but it’s been several years since you reviewed it, you should also talk with an attorney to talk about any changes that have happened in your life over the intervening years.

I’ve met with people who have gone 10, 15, 25 years without reviewing or updating their estate plan, and frequently things have changed a lot during that time period. Maybe their children have grown and move out of the house, maybe they have new grandchildren. Maybe the seniors themselves have retired from their lengthy careers and they want to make sure that their plan reflects what their goals and wishes are today.
So if you’re a senior and whether you’ve done estate planning already, or whether you have not done estate planning, you will want to sit down with a qualified estate planning lawyer to talk about your plan. And if you’ve already done estate planning, you’ll want to talk about updating your plan.

If you have questions about estate planning and would like to discuss this more, please click the link or contact us through our website:

https://criderlaw.net/contact/

If you are a first responder, it is vitally important for you to do estate planning. If you’re a fire person, if you’re a police officer, if you are a medical care provider, if you’re a social worker who responds to pressureful situations or Crisis situations, it is critical that you do estate planning.

The reason for this, as you know, is that first responders have a very high stress, high pressure job. It’s also high risk, and if something were to happen to you, you want to make sure that your family is taken care of. And the way to do that is to plan in advance. Have a revocable trust, have a will, have all of your health care documents in place, have a financial power of attorney in place. It is critically important for yourself and for your family that you have done proper estate planning.

If you are a first responder, if you have questions about estate planning and would like to discuss this more, please click the link or contact us through our website:

https://criderlaw.net/contact/