Tag: Estate Planning

3 (Of Many) Reasons Why Estate Planning is Not Only for the Wealthy

Before I became an estate planning, I did not fully understand the importance of having an estate plan.  I thought that estate planning was only for the wealthy.  Nothing can be further from the truth!
So, here are 3 reasons why you should consider meeting with an estate planning attorney, regardless of your wealth:
1. You have children under the age of 18.
A good estate plan protects your children from an uncertain future.  For example, a comprehensive estate plan for families with young children will include an Appointment of Guardian, which allows you to nominate a guardian to care for your children when you die or become incapacitated and are unable to care for them.  They also include an Authorization for Care of Minor Children, which allows you to appoint an another adult to temporarily care for and make decisions on behalf of your minor children when you are on vacation, unavailable, or become incapacitated.
2. To appoint decision makers to take care of you and your finances should you become unable to do so.
Not all estate planning concerns death.  For example, power of attorney documents are important estate planning tools.  These documents allow you to name people you trust (agents) to make medical and financial decisions for you while you alive, but are unable, or don’t want to, make such decisions for yourself.
3. The State in which you live has already created an estate plan for you.
All 50 states, and the District of Columbia, have laws that dictate how your property will be distributed after you die.  These laws are called the laws of intestacy and apply when you die without a will.  These laws may not match how you want your property to be distributed after your death.
Greta Suneson

Is Your Estate Plan HIPAA Compliant?

HIPAA compliance runs through most of our daily lives and activities. Having an estate plan which is HIPAA compliant is now mandatory in order for your wishes to be carried out.

Here are some things to check in your documents:

  • Are the documents dated prior to 2010? Older documents are often not HIPAA Compliant.
  • Do your documents mention HIPAA? If they don’t the documents are not compliant.
  • Are HIPAA Personal Representatives named? If not then the documents are not HIPAA compliant.

K&G can review your plan documents to ensure effective compliance. Contact our office at 303-688-3535 to schedule an estate plan review meeting today.

K&G Lawyers Are Active in Our Community

K&G partner Bernie Greenberg is now the immediate past chair of the Castle Rock Chamber of Commerce and the current chair of the board of directors of the Castle Rock Chamber Foundation.

The foundation provides education to the public and schools on the economy, business and finance to equip the public to be better citizens and understand how our economy works. By providing these educational programs the Castle Rock Chamber Foundation reduces the financial burden to local governments who lack resources to provide such education.

Greenberg, who heads K&G’s Estate Department had this comment, “It is honor to serve the Castle  Rock Chamber Foundation as it’s chair and move our community forward with broader and deeper understanding of how the economy works.”