21 November

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Use an Attorney for Your Estate Planning—Not AI!

By Libby Banks, The Law Office of Libby Banks, PLLC In a world where you can ask your phone to plan your vacation, order your groceries, or even write your wedding vows, it might be tempting to think artificial intelligence can also handle your estate plan. After all, AI is fast, cheap, and available 24/7. But when it comes to protecting your life’s work and caring for the people you love most, “fast and cheap” is not what you’re looking for. Estate Planning Isn’t Just Data—it’s People AI can crunch numbers and draft documents, but it can’t sit across from you, look you...

08 August

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Estate Planning – Who Needs It?

Posted by Libby Banks

in Asset Protection, Avoid Probate, Estate Planning, Power Of Attorney, Revocable Living Trust, Wills & Trusts

Who Needs Estate Planning? Many people, when they hear the words “estate planning,” don’t think it applies to them. “I don’t have an estate to plan!” they may say. I think this comes about from the use of the word “estate.” The word is often used to refer to the mansions and real estate holdings of the rich and famous. But the definition of an estate is “all of the things that a person owns.” In other words, your estate is the sum of your stuff: your home, your bank accounts, your stocks and bonds, your retirement account, your cars and boat, and...

01 August

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Estate Planning – Who Needs It?

Posted by Libby Banks

in Asset Protection, Avoid Probate, Estate Planning, Power Of Attorney, Revocable Living Trust, Wills & Trusts

01 July

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On The Road Again! Are You Ready for Vacation?

Posted by Libby Banks

in Asset Protection, Avoid Probate, Estate Planning, Power Of Attorney, Revocable Living Trust, Wills & Trusts

For many of us, it’s an exciting time. A whole year of isolation is coming to an end and travel is on the horizon. But are you truly ready for that trip? You may need to be sure your estate plan is in order before you hit the road. Here are some thoughts on getting things done before your trip. 1. Make sure you have guardians in place for minor children. If you have minor children, it’s crucial to have documents in place appointing guardians, especially if you are traveling without them. Don’t leave this to chance, or worse, to the...

24 June

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Estate Planning during the pandemic

Posted by Libby Banks

in Estate Planning, News & Events, Power Of Attorney, Wills & Trusts

The need for Estate planning has become more apparent than ever due to COVID-19. People who have not considered what might happen if they become seriously ill or incapacitated are appreciating the benefits of an estate plan. An estate plan can provide significant peace of mind by ensuring someone can take care of you – and your finances – if you become ill. It also ensures your assets are protected and passed on according to your wishes. Estate planning is often a difficult topic to broach, as it brings the unpleasant topics of illness and death to the forefront of our minds....

04 June

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Estate Planning for Incapacity

Posted by Libby Banks

in Estate Planning, Power Of Attorney, Revocable Living Trust, Wills & Trusts

When my clients think about estate planning, they tend to think about the end of life, about what’s going to happen to their assets, and who will handle the estate and make distributions to their beneficiaries. Often, they don’t realize that an equally (or maybe more) important aspect of planning is all about who will manage your assets and take care of you and your financial affairs if you become incapacitated. With proper planning, you decide; without proper planning a court may get to make the choice, and at great expense and rarely expeditiously. What do we mean by “incapacitated?” In...

16 September

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Estate Planning for Incapacity

Posted by Libby Banks

in Estate Planning, Power Of Attorney, Wills & Trusts

In my previous article I have reminded you that estate planning isn’t just about who will get your assets on your death, it’s also about who will manage your assets and take care of you and your financial affairs if you become incapacitated. With proper planning, you decide; without proper planning a court may get to make the choice. What do we mean by “incapacitated?” Generally speaking, we are referring to a situation where you are unable to make decisions for yourself. Incapacity can result from an accident or arise from health issues, such as stroke, heart attack or dementia. If...

15 August

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Educating Your Family About Your Estate Planning

Posted by Libby Banks

in Estate Planning, Power Of Attorney, Wills & Trusts

It’s back to school time, so I thought I would write this month about educating your family about your estate plan. If you don’t have an estate plan, educate yourself at my seminar at Gentech Support located at 402 E. Greenway Parkway. More information about that at the end of my article! If you have done estate planning or are in the process of putting a plan in place, it’s a good idea to educate the people who you have appointed as trustees or executors and also to your family about what you’ve done. Here are some of the primary items...