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If you are considering a divorce, it’s critical to understand the impact of your divorce on what would happen in the event of your incapacity or death, either during the divorce or after. Until the Final Judgment is signed by the judge, without modifications to your estate planning, the soon to be ex-spouse may still have decision making authority even though there is a divorce pending. Unfortunately, most divorce lawyers don’t give much thought to incapacity or death, simply because they do not have training on these issues specifically and it doesn’t seem like a pressing issue when they’re advising you through your divorce. That’s why it’s important for you to seek our advice at the beginning of the divorce process. Here are some things to keep in mind: As soon as you…Read More

Are you one of the American’s in the 88th percentile who sets at least one resolution? Resolutions are well-intentioned, but most people fail at keeping them. We live in a throwaway society and even our resolutions aren’t immune. On average only 20% of us keep our resolutions. Check out these tips for achieving your goals.  Make a game plan.  Break it down and make it less intimidating.  Ask friends and family members to help so you have someone to be accountable to.  Reward yourself with each milestone.  Don’t do at it alone.  Get professional assistance, sometimes a friend just isn’t enough. Best Wishes For A Happy And Healthy New Year! This article is a service of the Law Firm of Myrna Serrano Setty, P.A. We don’t just draft documents, we help you make informed…Read More

Our Lives Are On Our Smartphones The data we keep on them has great sentimental value because they’re every parent’s primary way of capturing precious family memories, such as videos of an adorable child singing pop songs in the car. But our smartphones also store other sensitive information that is valuable to hackers, like passwords and financial information. What happens when we don’t have access to our smartphones for an extended period of time? (Or if something happens to us and someone else can’t access something important on our phones?) We feel powerless. We might even freak out. Recently, my iPhone broke. I had dropped the phone too many times and it was on its way out anyway. But I wasn’t ready. I thought I had more time. And worst of all, I…Read More

Maria Shriver knows the devastation of Alzheimer’s disease firsthand. Her beloved father Sargent Shriver, founder of the Peace Corps and one-time candidate for Vice President of the United States, died of the disease in 2011 after being diagnosed in 2003. Often called “the long goodbye,” Alzheimer’s disease affects more than five million Americans and its prevalence will continue to grow with the aging population. Shriver recently reported for NBC.com on the five things Alzheimer’s or dementia victims should do once a diagnosis has been confirmed: Execute powers of attorney and advance medical directives. These allow for the designation of a trusted person or persons to make financial and medical decisions before cognitive impairments worsen. Create a will. If you do not have a will that designates how your assets will be distributed upon…Read More

Picture this: At Thanksgiving, you have your eye on that last piece of pie. You can practically taste it. As you reach for it, someone else grabs it and there’s a tug of war. Do you share it? Does one of you give up and find another dessert? Does someone intervene and decide for you? Are you in a family that will laugh this off? Or is there some drama? When the stakes are high and there’s money and property involved, the resulting conflict is enough to ruin anyone’s appetite. Picture this: You’re in a blended family where there’s Mom, Step-Dad, and Mom’s kids from her first marriage. Mom dies without a Will. Step-Dad is distraught, but takes comfort in knowing that the house is almost paid off. There’s about $200,000 of equity.…Read More

The average age of parents raising children in the US continues to rise, leaving many middle-aged Americans in a category commonly referred to as the “sandwich” generation. This growing population of adults are often still raising kids at home when they become responsible for the care of their own aging parents. The stress and financial strain of managing taking care of both your children and your parents can become overwhelming. The following tips can help make this challenging life stage easier to manage, and more enjoyable for everyone. Assess The Financial Situation Taking time to thoroughly understand the complete financial picture of your home is important when you step into a role of responsibility for your aging parent. You can prepare for all possibilities, and avoid surprises, by working with a professional to…Read More

Passing your family heirlooms to your family should be a welcome and sacred tradition. But sadly, for many families it can cause a lot of drama. Did you know that your family is more likely to fight over sentimental items instead of money? If you don’t want that to happen in your family, here’s what you can do: 1. Add Specific Designations To Your Will And/Or Trust Typically, a Will or Trust will specify that all personal property goes to the “residue” and is split equally between all heirs. But you may want to get more specific with items that are already family heirlooms or that you want to become family heirlooms. All too often children will discover after Mom or Dad has passed that an item was promised to more than one…Read More

Is it time to have “the talk” with your kids about your estate planning? It can be hard to have these conversations with your family. Here are some tips to make it easier. Preparation Is Key 1. When You Choose Important Decision Makers, Make Sure You Match The Skills Of The Person To The Job For example, the Personal Representative (also known as the executor) of a will must be able to gather assets, prepare paperwork, handle finances, and deal with potential family disputes. Don’t choose a Personal Representative that isn’t up to that job. Too often, people choose executors, trustees, guardians, and powers of attorney based on emotions or arbitrary factors, such as who is the oldest child or who might be offended if not chosen. These are difficult, demanding jobs, and…Read More

The thought of not being around to raise your children feels crushing and too awful to consider. But if you don’t name a guardian for your children and you pass away or become incapacitated while they are minors, a judge who doesn’t know you, your children or your family will decide who raises them. Families tend to fight over children, especially if there’s money involved. And what if you have family that you don’t want raising your children? How To Choose A Guardian Consider these factors when choosing candidates for guardians and back up guardians: How well the child and potential guardian know and enjoy each other Location – if the guardian lives far away, your child would have to move from a familiar school, friends, and neighborhood. If your guardian is not…Read More