List All

I recently spoke with my twelve-year-old son, Corey, about what it means to have integrity and character. As part of our conversation, I read a passage from Bo Schembechler’s autobiography, co-written by Mitch Albom. (Bo Schembechler coached the Michigan Wolverine football team from 1969 through 1989.) Today, people seem more likely to justify cheating because…

The choices you make when choosing your life insurance beneficiary can have disastrous consequences down the line. Here are three mistakes I’ve seen as an estate planning attorney. 1. It’s not your Will that determines who gets the life insurance money –it’s the beneficiary designation of your policy. If your Will says that your son…

After watching ESPN Gameday’s panel discussion recently on whether college football players should be paid, I thought I’d write a little off-topic this time. Those who favor paying college football players argue that the current system exploits college players because they are unable to profit from their efforts or their likeness even though they generate…

Before attending law school, I worked for the Navy. Jack Cabana, then a mentor and colleague, once told me a story that ended with the following quote: “possession is nine-tenths of the law.” This quote applies well to an often overlooked but very important estate planning piece—the Durable Financial Power of Attorney (DFPOA). This document…

Ever take a close look at a keyboard? Why are the “j,” “k,” and semicolon under your primary fingers and why place the “e,” “n,” “t,” and period where you have to stretch your fingers to reach them? Answer—because on the first manual typewriters, pushing a button caused a key to strike the paper. If…

Many divorced people overlook the need to plan their affairs differently after the divorce. “Mary” divorced her husband while her three children were minors. Understandably, she did not want to list her minor children as her life insurance beneficiaries. If Mary passed away and the insurance paid to her minor children, the court would require…

Sometimes we have the opportunity to learn from the mistakes of others. While the lives of Hollywood stars may be very different from those of average Americans, sometimes we can learn from their mistakes. In this blog entry, I discuss two (of several) important lessons everyone can learn from Whitney Houston’s Last Will and Testament.…

HOW MUCH OF AN ESTATE SHOULD I HAVE BEFORE I NEED AN ESTATE PLAN? I am often asked how much net worth a person should have before they need estate planning. Many people believe that they don’t have enough assets to consider estate planning. Both the question and belief are based on a mistaken assumption…