Estate planning is an essential practice for everyone, regardless of your family structure. As portrayed in the hit sitcom Modern Family, estate planning isn't just for traditional nuclear families. It can benefit anyone, including blended families, same-sex couples, and those who have children from multiple partners. Whether you're a part of a "modern" family or a more traditional one, there's a lot you can learn from the show about the importance of estate planning for protecting all types of families.
In the recent cinema hit, "Barbie," starring Margot Robbie, Barbie gets a little existential. Amidst a disco dance party, Barbie asks, “do you guys ever think about dying?” It's not the typical Barbie movie, but rather a comedic satire that raises some intriguing questions.
It's often said that a solid relationship is built on trust. This couldn’t be more accurate when seeking an estate planning firm to help you with your family’s planning needs.
You may have heard that old story about the newlywed wife who, when making a pot roast for her husband for the first time, cut both ends off the roast and placed them in the pan. When her husband asked why she did this, she said “I don’t actually know – that’s how my mom taught me to do it.” She called her mother and told her that her husband had asked why she cut off the ends of the pot roast. Her mother laughed and explained “my pan wasn’t large enough to hold the roast so I had to cut off the ends to fit it in the pan”. Turns out that cutting off the ends was a practical measure, not a culinary secret. This story epitomizes a cognitive shortcut known as anchoring bias: sticking to an initial piece of information or process, even if it's irrelevant to our current circumstances.
In today's fast-paced world, everyone's looking for a shortcut. Whether it's to save money, time, or hassle, we often think taking a shortcut is the smarter move. A recent article in The Independent paints a vivid picture of this mentality in the world of air travel, but it also provides a poignant analogy for estate planning.
Attention Marylanders: significant changes are pending concerning how estates are distributed for those who pass away without a will. The most prominent shift revolves around provisions for surviving spouses.
In Maryland's neighboring landscape, amidst the sprawling urban sprawl, lies a sanctuary that whispers ancient tales. The National Bonsai Museum, though technically in D.C., is a stone's throw from Prince George’s County and stands as one of the area's best-kept secrets.
In the vast realm of estate planning, there's one tool that stands out for couples looking to manage and protect their shared assets: the joint revocable trust. The term may sound complex, but its implications for couples, especially those with significant combined assets, are profound.
