Author Archives: Phillip A. Baumann
Estate Planning Tips for Unmarried Couples
In 2015, the landmark opinion of Obergefell v. Hodges provided for the legalization of same-sex marriage in all 50 states. This Supreme Court decision impacted many areas of law, such as divorce and family law and probate. Today, estate planning for married LGBT couples is essentially the same as for any other married couple. But […]
Do You Need to Update Your Will If You Have Another Child?
Depending on the terms of your original will, the birth of another child could be an ideal time for you to revisit and update your estate plan. It is not always necessary, however. With the assistance of your attorney, you can determine whether it is a task you need to complete. Here are some circumstances […]
Strategies for Changing Your Will
After you execute your will, circumstances may arise that result in the desire to change your will. You can do this at any time you wish, so long as the documents are properly executed and witnessed, and you are considered mentally competent to do so. Depending on how much you wish to change and what […]
When to Make Adjustments to a Living Will
Living wills are meant to be a valid document for the duration of your life. You should make regular updates to accommodate any changes in your own personal medical situation, or to consider any changes that occur with available medical treatments or technology as scientific advances occur. Here are a few examples of situations in […]
How COVID-19 Affected Estate Planning in America
The COVID-19 pandemic has had a significant impact on the lives of people around the world. One effect of the pandemic, however, has led people to take a greater interest in estate planning so they can provide for their spouse or children. Here are a few specific examples of how COVID-19 has impacted estate planning […]
You May Need to Change Your Estate Plan As Your Children Grow
Many people first consider estate planning once they have their first child. It is great to take the initiative to develop an estate plan once you have heirs to consider. However, it is equally important to make sure you update your estate plan as your children age and your own needs change. When your children […]
Demand for Estate Planning is Booming Among Millennials
Estate planning among younger adults is on the rise. For the first time, millennials have overtaken baby boomers as the largest generation that is caring for both children and aging parents. With millennials having more life responsibility, it is no surprise that more of them have gotten serious about estate planning. What are some of […]
Cryptocurrency Becoming Increasingly Common in Estate Plans
As more people enter the cryptocurrency sphere, the uses for crypto are becoming more widespread. For example, donations to charitable organizations using cryptocurrency are becoming more common through wills and trusts. Crypto in the nonprofit world At this point, approximately 10 percent of Americans own some form of cryptocurrency. Crypto has left behind its roots […]
Emerging Trends in Estate Planning for 2022
The field of estate planning, like other areas of law, is constantly evolving. While the basics of estate planning remain relatively consistent, there are new trends that may influence a person’s estate planning decisions. Here are a few examples of some current estate planning trends: Family limited partnerships: Family limited partnerships exist to enable grantors […]
Concerning Trend: Middle-Aged Americans Aren’t Performing Estate Planning
A recent survey from Caring.com and YouGov polled over 2,600 American adults, and discovered that for the first time, Americans between the ages of 35 and 54 are actually less likely to have a will in place than Americans between the ages of 18 and 34, a trend some would consider concerning. An overview of […]