Inheritance Is Not Automatic

Do you remember Ann Landers, the advice columnist? Recently, readers were asked to send their favorite Ann Landers columns in, and this is one that made the top ten.


Ann Landers – An Inheritance Is A Gift, Not A Right

By Creators Syndicate Inc.

Dear Ann: Let this letter be a wake-up call to all sons, daughters, and grandchildren. The message I want to convey is this: YOUR INHERITANCE IS NOT AUTOMATIC. IT’S A GIFT.

I am an estate planner. Over the last several years, I have seen many clients change their wills, bypassing children and grandchildren, and leave their money to friends, charities, and people they once worked with who were kind and helpful.

There are many reasons for changing a will, but the two most common are disrespect and isolation. In some families, the only time the old folks see the grandchildren is when their parents need a favor–usually, it’s money. So, the message the old folks wish to convey is as follows: “You didn’t make time for me when I was lonely and would have enjoyed your company, so why should I leave you the money I worked for all my life?”

Wake up out there. An inheritance isn’t something that is owed to you. It is a gift of love. When there is no love, there should be no gift.

— Manasota, Fla.

There Are Many Reasons People Change Their Wills

After reading Ann Landers’ column, I am inspired to share some insights from my experience.

Here are the top ten reasons to disinherit a family member:

Unintended Consequences: A frequent and by far the most painful disinheritance occurs when someone leaves everything to a spouse and relies on the spouse’s promise to include your child (and their stepchild) in their estate in the future. Once the parent is gone, there’s no guarantee that the spouse will fulfill this promise, especially if there are strained relationships or conflicts within the family.

Strained Relationships: People write family members out of their will and trust when there is a history of conflict, lack of communication, or emotional estrangement. Past histories of turmoil are not easily forgotten.

Financial Irresponsibility: Concerns about a family member’s inability to manage money responsibly may lead one to redirect assets elsewhere, leave specific instructions, create conditions for inheritance, or designate a financial advisor to oversee disbursements on behalf of the beneficiary.

Disapproval of Lifestyle Choices: Disagreements over a family member’s lifestyle choices, substance abuse, or criminal behavior may influence the decision to include a family member in the estate plan.

Lack of Involvement: Failure to maintain a relationship over the years leaves a person less inclined to include another in the estate.

Caregiver Contributions: Sometimes, the fact that family members have already been provided significant care or support is the reason for disinheritance.

Concerns About the Influence of Others: The fear that a family member will be under the influence of a disliked spouse or others may be a reason to disinherit an heir.

Protecting Heirs: In some cases, a person may choose to disinherit an heir to protect them from predators, creditors, or their own poor decision-making, thereby safeguarding the legacy and assets for future generations.

Fairness Among Heirs: Sometimes, disinheritance can be used to ensure a fair distribution among heirs, especially if one family member has already received significant support or a larger share previously.

Personal Wishes: Ultimately, a person may choose to disinherit family members simply because they feel strongly that their estate should go elsewhere, whether for charitable, philosophical, ethical, moral, or other personal reasons.

Disinheriting a family member, whether by accident or by choice, is significant and may impact many generations. Make sure that your estate plan is well thought out and that your choices are well thought out, properly documented, and legally enforceable.

Broccoli Slaw

Summer BBQs and picnics are right around the corner! Up your traditional coleslaw game with this easy broccoli slaw that packs a punch in both flavor and nutrients.

For the Dressing:

  • 1 c. mayonnaise
  • 3 tbsp. apple cider vinegar
  • 2 tbsp. honey
  • 1/2 tsp. kosher salt
  • 1/2 tsp. ground black pepper

For the Slaw:

  • 12 oz. broccoli slaw mix
  • 1 c. small broccoli florets (from 1 crown)
  • 1 c. matchstick carrots
  • 1 c. shredded red cabbage
  • 1 c. sliced green onions
  • 1 c. raisins
  • 1/2 c. roasted salted sunflower kernels, plus more for serving

Directions:

  1. For the dressing: Whisk together the mayonnaise, vinegar, honey, salt, and pepper in a large bowl until smooth.
  2. For the slaw: Add the broccoli slaw, broccoli florets, carrots, cabbage, green onions, raisins, and sunflower kernels to the dressing; stir to combine. Cover and refrigerate 1 hour or overnight.
  3. Top with more sunflower kernels just before serving, if you like.
  4. Enjoy!

The Pioneer Woman: Easy Broccoli Slaw

5 Things To Do In Colorado In The Coming Months

As the days grow longer and the sun graces our beautiful Colorado landscape with its warmth, it’s time to shake off our tendency to hibernate and embrace all the wonderful activities Colorado has to offer. While ensuring your estate planning needs are in order is crucial, it’s equally important to enjoy life to the fullest. So, let’s dive into some fun things to do in Colorado this month! Luckily, the entire Front Range is full of activities for all people and personalities, offering a true playground of entertainment at our fingertips. Here are some of my favorite ideas for getting out of the house this month:

  • Garden of the Gods – Colorado Springs: Did you know that, on average, about 4.5 MILLION people visit Garden of the Gods every year? That’s more than Yosemite, and on par with Yellowstone for visitation numbers. And we have this stunning gem right here in our own backyard. April is a perfect time to take a mini-road trip and admire these towering red rock formations before the number of visitors starts to skyrocket in the coming summer months. Learn more and plan your visit here.
  • Cherry Creek Regional Trail – Denver: If packing up the kids, the dog, extra water, granola bars, and hiking boots to head for the mountains feels like a daunting task, consider trying the Cherry Creek trail right here in Denver. This 45.5-mile trail winds through the city while still offering some of the beautiful sights of the state. The Cherry Creek trail’s two endpoints are the Platte River Trail at Confluence Park in Denver and south of SR 86 in Franktown. View the trail map here.
  • Fort Collins Museum of Discovery – Fort Collins: Fort Collins boasts a 16,000 sq ft interactive and immersive museum sure to delight the entire family. Originally forged from a partnership between the City of Fort Collins Museum and the nonprofit Discovery Science Center, the Fort Collins Museum of Discovery focuses on “fun learning experiences that explore the interplay of science and culture” and offers a playground for the adventurous spirit. Adult tickets are $15, with youth/seniors/students being $12.50. Kids under 2 are free. Plan your visit and purchase tickets here.
  • Hot Springs – Find a hot spring near you: If you feel like you are still thawing out from the winter months, taking some time to soak in a steamy hot spring could be just what the doctor ordered! Colorado is home to numerous hot springs, all offering different views and amenities. Find the right hot spring for you and your tribe from this quick list of 30 Colorado Hot Springs: A Quick Guide.
  • The Denver Mint – Denver: There are only 6 United States Mint Facilities (4 production facilities, 1 bullion depository, and 1 headquarters) in the country, and one is right here in Colorado! The even better part… tours are free! Head to the Denver Mint to learn more about coin manufacturing and craftsmanship and the history of the mint. Learn more and plan your visit here.

Colorado Green Chile Ribs

While I am busy boasting about all of the fun activities that can be found along the Colorado Front Range, let’s take a moment and share a recipe submitted by a local Rocky Mountain home cook. See the full list of Colorado based recipes here.

Ingredients:

  • 4 pounds pork baby back ribs
  • 2 tablespoons ground cumin, divided
  • 2 tablespoons olive oil
  • 1 small onion, finely chopped
  • 1 jar (16 ounces) salsa verde
  • 3 cans (4 ounces each) chopped green chiles
  • 2 cups beef broth
  • 1/4 cup minced fresh cilantro
  • 1 tablespoon all-purpose flour
  • 3 garlic cloves, minced
  • 1/4 teaspoon cayenne pepper
  • Additional minced fresh cilantro

Directions:

  • Cut ribs into serving-size pieces; rub with 1 tablespoon cumin. In a large skillet, heat oil over medium-high heat. Brown ribs in batches. Place ribs in a 6-qt. slow cooker.
  • Add onion to same pan; cook and stir 2-3 minutes or until onion is tender. Add salsa verde, green chiles, broth, 1/4 cup cilantro, flour, garlic, cayenne, and remaining cumin to slow cooker. Cook, covered, on low 5-6 hours or until meat is tender. Sprinkle with additional cilantro.
  • Enjoy!
Taste of Home: Colorado Green Chile Ribs

Understanding the Intersection of Love and Law

In the grand tapestry of life, relationships weave intricate patterns of joy, love, and companionship. However, beneath the surface of every connection lies an inevitable truth: all relationships will come to an end, whether through death or divorce. While the excitement of everlasting love is thrilling, the reality that all human relationships come to an end is a harsh reality. As an attorney, understanding and addressing this reality is essential in guiding individuals through the complexities of planning for the future.

Love is wonderful—joyful moments, shared dreams for the future, and yes, some legal considerations too. In the realm of estate planning, the end of a relationship—whether by death or divorce—is not a matter of “if,” but “when.” Sadly, every relationship eventually will come to an end. When that happens, the most important thing is how you have planned for that ending. Your planning (or lack thereof) will impact you, your loved ones, your children, your family, and your assets. Recognizing this fundamental truth empowers individuals to take proactive steps to protect their assets, ensure the well-being of loved ones, and leave a legacy that reflects their values and wishes.

Some Things are Certain

As many of you know, I have had the experience of losing a spouse. I have walked that path and know well how life-shattering the emotional and financial realities of that loss can be. During this emotionally challenging time, estate planning serves as a compass, providing clarity and guidance amidst grief. From wills and trusts to advance directives and powers of attorney, thoughtful planning allows individuals to outline their healthcare preferences with precision and care, dictate the distribution of their assets, nominate guardians for minor children, and care for those they leave behind. For married couples, the law in the state where you reside at the time of death has a “default plan” that you fall into IF you have not done your own estate planning. That’s right! Your legislators have chosen a default plan you will fall into if you have not made your own legally effective plan. That default plan set up by your state legislators may or may not align with your personal preferences or the life you’ve built with your loved ones.

The Silver Lining: Protecting Your Property and Legacy

The silver lining? While we can’t prevent the end of relationships, we can prepare for it with compassion and strategic planning, which helps make the end the best possible foundation for a new beginning.

No matter who you are and how much you have or don’t have, the absence of a plan could leave you and your loved ones vulnerable. You can risk losing assets or being unable to make crucial decisions about your property, your business, your children, or your medical choices. Ownership rights of your family can be disrupted without clear, legally effective planning documents. Make sure your home is left in the hands of those you choose in the event of your death. Don’t leave your family of origin in dispute with the family you have chosen to do life with. Any business you own, including businesses owned with your partner, could be jeopardized without clear, legally effective planning and instructions. Don’t leave your loved ones in the position of finding themselves facing homelessness or significant financial loss without a rightful claim to the wealth you have worked for together.

In the unfortunate event of a medical emergency where one partner becomes incapacitated, lacking appropriate legal documentation could impede the other partner’s ability to make critical healthcare decisions on their behalf. This can lead to delays in medical treatment or disagreements among family members over the person’s treatment, causing unnecessary stress and complications during an already challenging time.

For couples with children, failing to establish guardianship arrangements in the event of both parent’s incapacity or death can have devastating consequences. Without a designated guardian, children may be placed in the care of individuals who may not align with your wishes or values, leading to potential custody battles and emotional upheaval for the children and your extended family. If you and your partner end your relationship without mutually agreeing on who may be a guardian for your children, things could get even more chaotic—especially if one of you has documented your desired guardian and the other partner hasn’t. Worst of all, typical wills don’t adequately plan for the needs of minor children. That’s why I offer the Children’s Protection Plan, specifically designed to ensure your children are never raised by anyone other than people you know, love, and trust and are never taken from your home into the care of strangers.

In each of the scenarios above, the absence of proactive estate planning measures leaves individuals vulnerable to legal and financial uncertainties. By taking proactive steps that consider what will happen when your relationship ends, couples can safeguard their assets, ensure their wishes are honored, and provide peace of mind for themselves and their loved ones.

My Role as Your Attorney

In the journey of life, relationships ebb and flow, but their endings are an inevitable part of the human experience. Through estate planning, individuals can confront the reality of death and divorce with grace and foresight, ensuring their legacy endures long after they are gone. As an estate planning attorney, I am dedicated to helping individuals chart a course that honors their past, protects their present, and safeguards their future. One of the best parts of my role is that it extends far beyond the legal realm—it is rooted in empathy, understanding, and a commitment to helping individuals navigate the what-ifs and complexities of the future.

Ready to get the conversation started? Give Cris Carter Law a call today.

Old-Fashioned Strawberry-Rhubarb Crisp

Sweet, tangy, and oh-so-deliciously tempting, this dessert is the perfect ending to a meal (or a delicious start to the day with coffee!).

Ingredients:

Filling

  • 2 pounds rhubarb stalks, sliced 1/2-inch thick
  • 1 1/4 cups sugar, divided
  • 1 pound strawberries, hulled and quartered
  • 3 tablespoons cornstarch
  • 2 teaspoons fresh lemon juice
  • 1 teaspoon pure vanilla extract

Topping

  • 1 stick (4 ounces) unsalted butter, softened
  • 1 1/2 cups light brown sugar
  • 1 1/2 cups all-purpose flour
  • 1 1/4 cups quick-cooking rolled oats
  • 3 tablespoons canola oil
  • 1 1/2 teaspoons cinnamon
  • 3/4 teaspoon kosher salt
Directions:

1. Preheat the oven to 375°F. In a bowl, toss the rhubarb with 3/4 cup of the sugar and let stand for 15 minutes, stirring occasionally. In another bowl, toss the strawberries with the remaining 1/2 cup sugar and let stand for 10 minutes, stirring occasionally.

2. Using a slotted spoon, transfer the rhubarb to the strawberries; discard any rhubarb juice. Add the cornstarch, lemon juice, and vanilla to the fruit and stir well.
Transfer the mixture to a 9- x 13-inch glass baking dish.

3. For the topping, combine all of the ingredients in a medium bowl. Using a pastry blender or your fingers, mix the ingredients together until large crumbs form.

4. Sprinkle the topping evenly over the filling and bake for 30 minutes. Reduce the oven temperature to 325°F and continue baking for about 30 minutes longer, until the fruit filling is bubbling and the topping is nicely browned.

5. Let the crisp rest for 10 to 20 minutes before serving. Serve with whipped cream or vanilla ice cream.

6. Enjoy!
Food And Wine: Old-Fashioned Strawberry-Rhubarb Crisp

Lessons Learned in Care Giving

I recently had the opportunity to try on a new skill set due to circumstance, not choice. Luckily, exploring the role of caregiving opened my eyes to the intricate dance involving responsibility, compassion, and kindness. As I embarked on the journey of full-time (but thankfully short-term) caregiving, my mind kept reminding me, “You Are NOT a nurse; you NEVER EVER wanted to be a nurse! You are an attorney.” It became obvious to me that the skill set that had allowed me much success as an attorney throughout my life did not translate seamlessly into caretaking finesse.

So what did I do? I charged into this nursing role like I would any legal problem; like a warrior. I worked really hard, physically and emotionally, to be the best caretaker I could be. I worked hard to understand the medical terminology, communicate with doctors, nurses, and support staff, juggle medications, manage meals and physical care, and the list goes on and on. Could I nurse? Yes. Was I great at it? No. There were times when I felt I had done a task well, but face it, my bedside manner left a lot to be desired.

Talk about overwhelming! I searched for the lesson and the learning. What I found was a dose of humility and a profound respect for those who are caregivers. Only after I was nearing the end did I realize how much easier it would be next time. Let me share some tips and insights with you should you become a caretaker. From maintaining balance to self-care to strategies for providing the best care for your loved ones, I hope these tips provide insight, and perhaps support, for when you need it.

1. Create a Routine: A daily routine helps create a sense of security and predictability for the patient. This can also reduce the stress on caregivers.

2. Practice Self-Care: As a caregiver, it’s easy to forget about your own needs. Make sure to carve out time for yourself – whether that is exercise, reading, or simply taking a quiet moment to breathe.

3. Communicate Often: Keep the lines of communication open. Ask about your patient’s needs, their feelings, and any changes they may be experiencing. Don’t think you know it all, or that you know best. Listening to the patient can lead to better care and mutual respect. (Remember: You Don’t Know What You Don’t Know!)

4. You are Not Alone: Ask for help. Realize that people don’t know what you need. Tell them what you need and ask for help. You will be surprised at the number of people that will say yes and offer to help. There are also support groups and community resources that can provide much-needed emotional support, as well as practical advice and resources.

5. Stay Organized: Keep track of medications, appointments, and important documents. Do not rely on your memory or the patient’s memory. Keep a notebook or use a phone app or other online tools to help manage all the details.

6. Learn About Your Patient’s Condition: Education is key. Attend appointments and ask questions. If your patient has a specific health condition, educate yourself about it. The more you understand their condition, the better you can manage their care.

7. Be Patient: Caregiving can be challenging and frustrating at times. Remember to be patient – with your loved one and yourself. It’s okay if everything doesn’t go perfectly. You’re doing your best. Remember, it’s okay to ask for help when you need it. You’re not alone in this journey.

Spring Pea Pesto

Quick, easy, versatile, and deliciously vibrant! Use this as a dip, spread, or sauce for pasta. Welcome, spring!

Ingredients:

  • 2 cups peas, either frozen and thawed- or use fresh English peas
  • 1/2 cup packed mixed herbs- mint, tarragon or dill
  • zest of one lemon
  • 2 1/2 tablespoons lemon juice
  • 1 tablespoon minced chives or green onion
  • 1/2 teaspoon salt
  • 1/2 teaspoon black pepper
  • 1/8 cup olive oil
Directions:In a food processor add peas, mixed herbs, lemon zest, lemon juice, chives (or green onion), salt, pepper and olive oil.Pulse for a few minutes until the peas break down but are still textured.Serve immediately or store in the fridge for 3 days.Enjoy!
Feasting At Home: Spring Pea Pesto

If You Have An LLC Or Corporation; Pay Attention To This New Law!

Many people think that the law is black and white; a rigid set of rules cast in stone. Being in the legal profession, I know the law is changing all the time. The changes in the law keeps me on my toes for sure as the law tries to respond to the ever-changing circumstances of our world. Sometimes those changes result in additional burdens; sometimes additional opportunities. Let’s look at two laws that have recently changed and how they may affect you.

If you have a beneficial interest in an LLC or a Corporation created before January 1, 2024, you are now required to file FinCEN’s Beneficial Ownership Information Form under the Corporate Transparency Act (CTA). Even if your LLC is dormant (you don’t use it); or even if the LLC only owns one piece of rental property, each beneficial owner must file the document or be subject to a fine of $500 per day up to $10,000. Ouch! Let’s not take a chance on paying fines. You are deemed a beneficial owner If you own or control 25% or more of a “reporting company.” This reporting requirement is separate and apart and in addition to any state or local filing done to form a new business entity.

If you create an LLC or a Corporation after January 1, 2024, within 90 days of forming that entity, you must file a report with the Department of the Treasury’s Financial Crimes Enforcement Network

Is There Any Good News for LLCs and Corporations?

I had to dig deep to find the good news. Good News: You don’t have to pay any filing fees. More Good News: One and Done. You only have to do this once per entity as long as the beneficiary ownership doesn’t change. Even More Good News: You can file online at the new federal database called BOSS (an acronym for Beneficial Ownership Secure System). Better Good News. The reporting is easy to complete. Given that the purpose of the reporting is to prevent the use of anonymous shell companies for money laundering, tax evasion, and other illegal purposes, you could think of yourself as a modern-day Robin Hood. I’m stretching high to pick that fruit.

You can satiate your curiosity here: Beneficial Ownership Information Reporting

Helping Your Grandchildren

We all know that there’s a special place in our hearts for grandchildren as they often bring joy and special moments to our lives. Well now it is easier for grandparents to help their grandchildren with educational expenses.

The FAFSA Simplification Act, which went into effect last month (Dec 2023), now makes it possible for grandparents to make contributions to a 529 college savings plan for your grandchildren without impacting the student beneficiary’s eligibility for federal financial aid. A 529 plan also applies to qualified vocational training and trade schools.

The 529 Account

A 529 college savings account is a special savings account designed to help individuals, including grandparents, set aside money for future college expenses. Although contributions aren’t federally tax-deductible, the earnings within the 529 account grow tax-free and remain untaxed when they are withdrawn for qualified education expenses.

What The New Rule Changes

When the account owner is a dependent student or custodial parent, the total value of the 529 plan is reported as an investment asset on the Free Application for Federal Student Aid (FAFSA). Previously, if a grandparent owned the 529 plan, any distributions were considered untaxed income for the student, potentially affecting financial aid eligibility. The upcoming change eliminates this concern.

In summary, a 529 plan owned by a grandparent will no longer require reporting on the FAFSA. Even more impactful, distributions from this grandparent-owned 529 plan will not be deemed untaxed income for the student. This allows grandparents to contribute to their grandchild’s education without jeopardizing financial aid eligibility.

Maximizing Grandparent Contributions

It’s important to keep the following in mind when you make contributions to a 529 account for a grandchild:

1 | Funds Must Be Used For Qualified Educational Expenses

Grandparents can use 529 plan funds for a range of qualified educational expenses, including tuition, room and board, books, supplies, laptops, and internet access. However, expenses such as insurance, student health fees, transportation, and extracurriculars are not covered and may incur a ten percent penalty if 529 plan funds are used toward these expenses.

2 | The Annual Gift Exclusion

While grandparents can contribute to their grandchild’s 529 plan, it’s essential to be mindful of the federal annual gift exclusion which currently stands at $18,000 for an individual ($36,000 if you file jointly with a spouse), which is the amount of money a person can gift to someone else without needing to file a gift tax return.

3 | Reconsider Payments Made Directly to The School

Distributions directly paid to the school from grandparent-owned 529 accounts will not affect aid eligibility. However, for now, it’s recommended to pay the grandchild directly.

4 | Timing Matters

The withdrawing of funds from the 529 plan must be done within the same tax year as the educational expenses in adherence to tax regulations.

5 | Watch Your Withdrawal Limits

The amount withdrawn from all 529 plans should be no more than the total cost of the qualified educational expenses billed by the school. Excess withdrawals may incur a 10 percent penalty, but there’s a 60-day window to rectify the situation without penalties.

Start Your Planning Now!

As we dive into this festive season (ho, ho, ho!) and gear up to welcome the promising horizon of a new year, it’s the perfect time to engage in thoughtful reflection and financial preparation. Year-end tax planning isn’t merely a last-minute affair; like estate planning, tax planning is a series of deliberate steps. The key to both is to plan ahead. Failing to plan can lead to unforeseen challenges and complications. Your loved ones deserve better. A well-crafted estate plan safeguards your assets, allows you to make your own choices, ensures your planning is honored, your loved ones are provided for, and can help minimize taxes on your estate. Without estate planning, the distribution of your assets will be subject to the legal system and its complexities, could cause family disputes and conflict, as well as higher tax liabilities. Protecting your legacy and ensuring your loved ones are well cared for requires both careful financial and estate planning which you can put in place now. Taking proactive steps now will save you money, provide invaluable protection for your loved ones and give you peace of mind right away.

To assist you in starting your planning now, below are five actions you can initiate right away to pave the way for tax savings in 2023:

Naming Godparents Does Not Create Legal Guardians

As we start this holiday season, it’s a great time to think about the love of our families. I hope you are blessed this holiday season and will have the opportunity to make many wonderful memories with loved ones.

As a parent, my top priority, of course, was the well-being and future of my children. I am sure that is one of your top priorities as well. You plan for your children’s future, their education, their health, and their happiness.

Godparents

Often, this planning includes the tradition of choosing godparents to guide and mentor your children if something happens to you. A godparent is traditionally someone you name to watch over your child and help them live according to your morals and values. Godparents are meant to be mentors and role models, guiding your child in matters of faith, morality, and character. The role of a godparent is deeply rooted in religious and cultural traditions.

While selecting godparents may be a meaningful tradition, it’s important to understand that naming a godparent is not the same thing as naming a legal guardian for your children. To put it bluntly, even if your child has godparents, if something happens to you, your children could end up in the care of strangers, child protective services, or in the long-term care of someone you would never want raising your children.

Legal Guardians

Naming a legal guardian for your child is a formal, legal process. A legal guardian is someone who has the legal authority to make decisions on behalf of your child, especially if you, as the parent, are unable to do so. This could occur due to your passing, incapacity, or even a temporary situation where you are not available to provide care or make important legal, financial, healthcare, or education decisions for your child. The responsibilities of a legal guardian encompass every area of your child’s life that you would normally manage as a parent. This includes everything from feeding and clothing your child to deciding where they go to school, attending parent-teacher meetings, and which extracurricular activities they participate in. Legal guardianship also includes the decisions about where your child lives and what medical treatment they should or should not receive.

Why Naming Godparents Isn’t Enough

While godparents may be deeply caring and involved in your child’s life, they have no legal authority to make decisions for your child unless they are officially appointed as legal guardians by the court. That means that until that happens (if it happens), your child’s godparents are not legally able to make any decisions for your children, including their basic care needs, education, and medical care.

Without a legal guardian designation (and, ideally, more than one) in writing and signed with the formalities of a Will, godparents may find themselves in an expensive court battle over custody rights, and they may not even be named as the legal guardians of your children at all. In fact, the court could name someone you would never want raising your kids as their legal guardian.

Life-long Legal Protection for Kids

If you’ve already chosen people you trust to serve as lifelong role models and spiritual guardians for your children as their godparents, why not give those people the legal authority to truly perform those duties if something happens to you?

But don’t stop there. The best way to keep your children safe and secure is to create a comprehensive protection plan that keeps your children in the care of the people you choose, no matter what. Ensure your children are protected. Ensure that the authorities know who to contact in an emergency and who can authorize prompt medical care. Make sure your children are never placed in protective custody – even for a minute.

Don’t Let The Online Spooks Haunt You!

It has been exciting to welcome all things fall recently. However, this email is about things that may haunt you and cause you difficulties and suffering. So, pardon me if I get a bit more serious this go-round, as October is Cybersecurity Awareness Month. In our world, where many aspects of our lives are tied to our computers and online connection, our online safety has become more significant. Around the globe this month, a month-long campaign is waged to raise awareness about the ever-evolving cyber threats and the crucial measures individuals and organizations need to take to protect themselves against these risks.

Below are five easy tips to help keep you, your family, and your information safe online. I know you are busy. I know it is not easy. I know you think you have better things to do with your time. I also know innocent people, like you and me, who have been victims of cybercrime. Given what scammers and con artists can take from you if they get into your cyber world, the time and effort you take NOW can save you much more time, energy, money, and damages tomorrow.

Women Think Differently

Here’s the Scoop: Why, As Women, We Need to Plan

Ladies, whether we want to admit it or not, most of us, at some point, will find ourselves in an unforeseen situation with the rest of the family looking to us for direction. When this occasion arises, it is best to be prepared and have a plan laid out for whatever the circumstances are. I can’t tell you how many times I have worked with a woman left holding the bag after something happened to their spouse, parent, sibling, etc. This is why planning now could be the best gift you give to future-you.

  • Outliving Our Partners: Whether we like it or not, most women will outlive their partners. That means, ultimately, we will be making all the financial decisions. We need to be ready to take over when that happens, and, in the long run, it will benefit you to be proactive about it. The good news is we can begin together today. I encourage you to sit down and learn the various investments you have. Come up with a plan to provide a safe future for you and your loved ones, and ensure that you put in the effort and forethought now before you have to do it later.
  • Many Changes Occur When You Least Expect: Life can change from what you thought it would look like in the blink of an eye. Divorce, for example, is just one of those changes where friends say, “I never thought it would happen to me!” A sudden injury, disease, or disability are other changes that are hard to predict. When your life experiences change, your estate plan must also reflect these developments.
  • Health First: Health risks for women are much more likely to occur. Cancer and heart disease are equal opportunity risks. If your health declines, you will be thankful for a Healthcare Power of Attorney that sets forth your choices and specific directions. This is an easy step to take now that you will be highly grateful for later.
  • Modern Families: More than ever before, families today are blended families. Blended families can bring challenges and complexity because many moving parts and relationships must be considered. Thorough planning now will ensure that everyone is taken care of later, no matter what. If you die before your children’s step-parent, make sure your children still get what was important that you wanted them to have.
  • Likely Caregiver: Many of us will have no choice but to step up and become caregivers. This is an uncomfortable truth for many women regarding their spouses. Consider and plan for the possibility before it happens. Having this conversation now will also ease any tough decisions or discussions that will need to be had if the situation arises.
  • Boss Ladies: As you build your business, there are ways to protect yourself from the threat of liability. Now that you’re a Boss Lady let’s ensure your business legacy is secure and thriving by having the proper documents in order.
  • Single and Rocking It: Estate Plans aren’t just for married folks! If you are single and never tied the knot, it’s crucial to have an estate plan that lets those left behind know the choices you want made when you can’t make your own decisions and after you are gone. Your loved ones will thank you for making these decisions now, so they are not left guessing your wishes.

Estate planning is NOT a form you borrow from a friend. Estate planning is NOT taking chances with online services that warn this is “not legal advice” and “we are not your lawyer.” You are unique. Your family is unique. What you own and what you’ve built is unique. What you leave behind when you exit will be unique. Estate planning is about protecting you and your loved ones with a plan tailored to you and your life. Today is the day to start planning for your future and the probabilities and possibilities.

Let’s chat about crafting a unique plan for you and your legacy. Don’t hesitate to contact us to discuss your specific needs. You can call to schedule an appointment at 719-434-0000.

Adulting 101

In today’s rapidly changing world, young adults often find themselves navigating a multitude of responsibilities and decisions as they embark on their journeys toward independence. While estate planning might seem like a topic more relevant to older generations, it holds a crucial significance for young adults as well. The truth is unforeseen circumstances can affect anyone at any stage of life, underscoring the importance of having essential estate planning documents in place. These documents provide a sense of security and control over one’s future and offer a practical way to ensure that one’s wishes are honored in situations that may involve medical emergencies, financial uncertainties, or unexpected life events. As such, young adults (and their parents) increasingly recognize the value of establishing these foundational legal instruments early on to safeguard their well-being and protect their assets.

What legal documents do your young adults need when they turn 18?

It’s great that you’re considering legal documents for a young adult at 18. At this point, individuals become legal adults and have certain rights and responsibilities. Some essential legal documents for a young adult to consider include:

1. Healthcare Power of Attorney: This document designates someone to make medical decisions on their behalf if they are unable to do so themselves.

2. Durable Power of Attorney: This grants someone the authority to manage their financial affairs if they become incapacitated.

3. Living Will: Also known as an advance directive, a living will outlines their preferences for medical treatment and end-of-life care.

4. Last Will and Testament: While typically associated with older adults, it’s never too early to create a will to outline how they want their assets distributed in case of their passing.

5. HIPAA Authorization: This allows healthcare providers to share medical information with designated individuals.

6. Digital Assets: As technology becomes more integral to our lives, it’s important to consider what should happen to their online accounts and digital property after their passing.

Some additional legal documents to consider include:

7. Rental Agreement: If they’re moving out of their parent’s home or living independently, a rental agreement can help outline their responsibilities as a tenant.

8. Bank Account Documents: If they’re opening a bank account, they will likely need identification documents and possibly a parent or guardian’s signature if they’re under 18.

10. Student Loan Agreements: If they’re pursuing higher education and taking out loans, they should be aware of the terms and conditions of their loans.

Remember, legal requirements can vary from state to state, which is why it’s a good idea to consult with an attorney when your young adult is ready to set up their first estate plan.

Why do parents want to have their 18-year-old child’s legal documents in order?

Parents often want to ensure that their 18-year-old child has their legal documents in order for several important reasons:

1. Healthcare Decisions: Legal documents like a Healthcare Power of Attorney and a Living Will can allow parents to make medical decisions on their child’s behalf if they cannot do so themselves. This becomes crucial in case of accidents, emergencies, or medical situations where the young adult cannot communicate their wishes.

2. Financial Management: With a Durable Power of Attorney, parents can manage their child’s financial affairs if the child becomes incapacitated. This can be especially helpful when the young adult is away at college or living independently and needs assistance with financial matters.

3. Peace of Mind: Parents naturally worry about their children’s well-being. Knowing that their child has taken steps to address important legal matters can provide parents with peace of mind, knowing that their child’s interests are protected even if they are not directly involved in every decision.

4. Asset Distribution: While it might not be pleasant to think about, having a Last Will and Testament ensures that the young adult’s assets are distributed according to their wishes in case of their passing. This can help prevent confusion, disputes, and potential legal issues among family members.

5. Privacy and Communication: Documents like HIPAA Authorization allow parents to access their child’s medical information and communicate with healthcare providers if necessary. This can be critical in situations where quick decisions need to be made about medical treatment.

6. Transition to Independence: As young adults transition to independence, having these legal documents in place empowers them to take control of their own lives while still having a safety net in case of unexpected events.

7. Avoiding Legal Complications: Without proper legal documentation, parents might face challenges in accessing their child’s medical or financial information, making decisions on their behalf, or managing their affairs if needed. These challenges can be avoided with the appropriate legal documents in place.

8. Educational and Employment Needs: Some legal documents, such as what is needed when signing rental agreements or managing student loans, might be necessary as young adults pursue higher education or enter the workforce.

By helping your young adult put their first estate plan in order, you, as a parent, demonstrate your support, care, and commitment to your child’s well-being and future. It teaches your young adult responsibility and becomes a great lesson that will benefit your child as they move through life. If you have any further questions about what legal documents your young adult might need, or you are ready to make some moves and start to get these in order, contact Cris Carter Law today.