Magwood Law Firm

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ESTATE PLANNING

Don’t get frightened by the word “estate.” Even if you are not one of the Rich & Famous, you have an estate. It is simply the “stuff” you own during your life. Estate planning is nothing more complicated than getting a plan in place for when you are unable to make decisions for yourself.

It can be complicated. It depends on how complicated your situation is.

We tailor every plan to meet the needs of you and your family. This is not a document you can buy from an online retailer.

Also, we provide something as important as the plan. We provide insight, wisdom and knowledgeable legal advice. In short, we become your Most Trusted Adviser.

To get started just takes a call. Do it today. (860) 373-2386.

Quick quiz: when are the two times people are most likely to make estate plans? Times up! In our experience it is (1) travelling out of the country and (2) going in for surgery involving general anesthesia. Here is the weird thing, these are the wrong times to be planning! (Of course, better late than never.)
When is the right time to do your planning? Now.

There is this old saying: “The best time to plant a tree was twenty years ago. The second best time is now.”

Don’t wait. We make it really simple and, even though it may be difficult to think about, we have helped numerous families get this done. Contact us to find out when our next free seminar is in Norwich. Or, if you are ready to begin, call us to get our planning kit and set up your consultation. Either way, do it now.

Estimates are that 70% of Americans die intestate – that is without any estate planning whatsoever. Here are my top three questions and answers for estate planning: (read more…)

The air is still and heavy. The hum of traffic outside buzzed softly. A young, twenty-something, brother and sister sit in black chairs at the law office. Their Dad had just passed away and they were the only heirs. They were concerned though, because Grandma had moved into the house (“temporarily”) and all of Dad’s stuff was being moved out. “But we have this, so we have control, right?” With a dramatic flourish, a document, signed, sealed and notarized, is presented. It is a Power of Attorney, naming brother and sister, jointly. The attorney sighed. “A power of attorney ends the moment the person who made it dies.”

It wasn’t what they wanted to hear. Oh sure, they still had rights, but it would take more time and money. And they had nothing to show Grandma that “proved” they had the right until they went to court.

If you care – even the least bit – about what happens to your family members and their relationships when you are gone, do some proper estate planning now.

I was going to put out some free resources, and was considering putting out a free power of attorney form. But, I hesitated and ultimately decided against putting one out. Why? (read more…)

Did you know that whatever you owned before marriage, belongs solely to you even after you get married? If you want it to go to your spouse, you need to take some steps to make that happen. That is called estate planning.

Estate planning is simply a big way of saying “planning now, while I can, for some period in the future when I can not make my own decisions.”

That is the catch. Estate planning is only used when you can no longer do it. Get it done now.