After your estate plan is drafted, we will send it to you for your review. At minimum, you should confirm: Your name(s) are spelled correctly The names of your beneficiaries and decision-makers (referenced as agents) are accurate The names of your beneficiaries and decision-makers are spelled correctly Beneficiary distribution instructions are stated as you intendedContinueContinue reading “What Should I Review When I Receive My Draft Estate Plan?”
Category Archives: Estate Planning Basics
How Do I Update My Beneficiaries With Financial Institutions?
Some of your assets will not be transferred to beneficiaries based on the instructions in your will. This includes things like: Retirement accounts (401K, 403b, 457, pension, IRA) Life insurance Annuities Transfer on death (TOD) or payable on death (POD) accounts. For these assets, you need to provide instructions directly to the financial institution. ContactContinueContinue reading “How Do I Update My Beneficiaries With Financial Institutions?”
What Happens at the Signing?
Mathews Law will help you get your documents signed so that you can move on with your life! The “signing” simply refers to the execution of your new estate plan. Mathews Law offers two options: You can have the signing at the office of Mathews Law, located in Old Town, Alexandria, or you can haveContinueContinue reading “What Happens at the Signing?”
Who Are Your Beneficiaries?
Decided where your assets should go after you die is one of the primary purposes of an estate plan. One of the most common questions people have is who should be their beneficiaries. The good news is this decision is entirely up to you. Your assets can go entirely to one person, to multiple people,ContinueContinue reading “Who Are Your Beneficiaries?”
What if I Need to Make Changes to My Documents?
This is your plan and changes can be made when needed. Before Signing If you are a current client and need to make changes to the documents before signing, simply let Mathews Law, PLLC know of the changes that need to be made. We will update your draft and send it to you for reviewContinueContinue reading “What if I Need to Make Changes to My Documents?”
What do my decision-makers do?
Your decision-makers will be responsible for ensuring your plan is followed and your wishes are honored. Here’s a description of the types of decision-makers in an estate plan: Medical Power of Attorney (or Medical Agent): Someone to make medical decisions for you if you cannot make them for yourself. This person only makes medical decisionsContinueContinue reading “What do my decision-makers do?”
Who Are Your Decision Makers?
Decision-makers are those who will make decisions for you when you cannot make them for yourself. These decision-makers are needed if you become disabled or when you die. Take the time to determine who decision-makers are early in the process to prevent delay. Prior to your consultation, we recommend determining both your primary and back-upContinueContinue reading “Who Are Your Decision Makers?”
Why A Divorced Parent Should Consider a Trust
Say you have minor kids, you pass away, and you leave money to be used for the benefit of your children (who are now under the full care of your ex). One option is, of course, to leave the money to your kids such that your ex manages the funds while the children are minors.ContinueContinue reading “Why A Divorced Parent Should Consider a Trust”
What is Estate Planning Anyway?
What is estate planning? Estate planning is the process of planning for the handling of your assets in case of disability or death. I don’t consider myself to be wealthy. Do I even have an estate? Yes! Everyone has an estate. An estate is simply the combination of all of your assets and property. IfContinueContinue reading “What is Estate Planning Anyway?”
Benefits of Creating an Estate Plan
COVID-19 has prompted many to contemplate important topics such as end-of-life decisions and estate planning. By making these choices and preparations in advance, families can ensure that they are carrying out the wishes of their loved ones and also prevent some of the difficulties that are often faced in these circumstances. The resources below touchContinueContinue reading “Benefits of Creating an Estate Plan”