Tag: trust

Honesty and the Law: Why Honesty is So Important in the Attorney-Client Relationship

Written by kwmlaw on October 28, 2021. Posted in Kelly & West News.

Most would argue that in any relationship, honesty is very important. The attorney-client relationship is no different. You must feel like your attorney is being honest with you and in return be completely honest with them.

Find an honest attorney

People have a misconception that lawyers are sneaky and dishonest. This could be because only the bad lawyers are talked about in the news or on TV, but this couldn’t be further from the truth. Sure, there are shady lawyers, but there are plenty of truthful lawyers that will work honestly with you to help settle your case. For your attorney-client relationship to work, you must trust who you are working with. The best way to do this is to talk to other clients, read testimonials, and don’t settle on the first lawyer you talk to. If you don’t feel comfortable, look for someone else.

Be honest with your attorney

Being honest with your attorney is crucial to your case. Because of attorney-client privilege, anything you say to your attorney will stay between the two of you. Some things might be hard to admit to yourself, let alone someone else, but being dishonest with your lawyer will not only hurt you but also them.

Most of the time, your attorney will know some of the questions that the opposing lawyer is going to ask and needs to know how you’re going to answer them. If you don’t tell him truthfully, then the opposing counsel might bring something up that blindsides them at trial. If that happens, not only will it hurt your case, but you likely won’t have a great relationship with your lawyer moving forward.

Communication

Honesty in the attorney-client relationship hinges on good communication. Communication is another very important aspect of this relationship. If your lawyer reaches out to you, it’s important that you get back to them as soon as possible. If you can’t get them what they need right away, at least call to tell them you got the message and you’re working on it. This will ensure that no one’s time is wasted, and the relationship will be better for it.

You should be able to trust the attorney taking care of your case. We take honesty in our attorney-client relationships very seriously. If you need a great lawyer, contact us today!

8 Things You Probably Didn’t Think about When Planning Your Estate Until You Had to Deal with It

Written by kwmlaw on April 19, 2018. Posted in Kelly & West News.

Estate Planning is making sure things are in order before your death or if you are incapacitated. Usually, when you hear those words, you might think about who will inherit your car, or what money will be allocated to your children when you pass away. However, estate planning covers a lot more information than many people assume; in fact, it can be a little disorienting to work out all of the necessary details. Luckily, the attorneys at Kelly & West are happy to help you through the process and ensure that all of your plans are thorough and well-organized.

If you’ve already met with a Kelly & West attorney to discuss your estate planning, you probably encountered many topics that you hadn’t previously considered. If you haven’t completed your estate planning yet, here are eight things you may not think about until you have to deal with them!

1. Your Starting Point: It’s never too early to start the estate planning process! Of course, we all hope and expect to live until we are “old,” but it’s better to get started early in adulthood. While it can be an uncomfortable topic to consider, estate planning can be especially critical for the well-being of your family, friends, and of course, you!

2. A Living Will: This is also called A Desire for Natural Death or an advance directive. This document lets a person state his or her wishes for end-of-life medical care, such as life-support and feeding through tubes, in case they become unable to communicate their decisions for themselves. A living will has no power after death. Take some time to think about your wishes regarding life support before meeting with your attorney.

3. Digital Footprints: In this day and age, it’s essential to consider who you would like to have access to your digital belongings. This could include online banking, blogs, photo storage files, social media logins, and more. Make sure to put a plan in place for someone to access these things after you’re gone. Some password programs give you the option of choosing an emergency contact, such as a partner or spouse, for this reason.

4. Insurance Policies: One step in the estate planning process is determining what your assets are, which includes insurance policies. Auto, health, life, and homeowners’ policies should be reviewed to make sure that those assets pass to whom you would like to receive them after death. Most people don’t know it, but they actually are not controlled by the will but by beneficiary designation.

5. Identifying Assets: In addition to your insurance policies, you’ll need to define the rest of your assets. From real estate to valuable baseball card collections, make a list of these items.

6. Will, Trust, & Deed: A will, trust, and deed determine where those assets will go after their owner’s death. Each document has a slightly different purpose; a will determines inheritance allocation, a trust determines how and when that inheritance will be distributed, and a deed can determine who will receive real property.

7. Raising the Kids: While it can be a hard topic to talk about, estate planning helps parents prepare for worst-case scenarios. Your documents will include instructions regarding who will inherit guardianship of your children, should events require such a transition.

8. Edits: Life changes; your will should change, too. If time passes and you determine that you would like to disinherit an ex-spouse from your will, update your documents to include new assets, or change your Power of Attorney plans, edits can be made, and this is encouraged!

Estate planning allows you to relax knowing that your family, friends, and belongings will all be taken care of, even after you can’t be there to do it personally. To begin your estate planning process, talk to us.

When Should You Begin Estate Planning?

Written by kwmlaw on February 12, 2017. Posted in Kelly & West News.

Estate planning may seem like one of those things you can do “later.” But in truth, it’s never too early to begin thinking about your estate. Life happens, and anything could happen to you or a loved one sooner than expected. The sooner you can sort out your affairs for your surviving family members the better.

What is Estate Planning?

Estate planning is the process of determining what happens when you die or are incapacitated. It can be a tough, sometimes uncomfortable thing to think about, especially when you are in good health, but unfortunately many people overlook this process and when tragedy strikes it is that much harder for their loved ones to manage everything. Generally speaking, the estate planning process involves creating a will and designating a power of attorney and a medical power of attorney. In some cases, estate planning can also include a trust and funeral planning requests.

How to Begin Estate Planning

Assets — The first step in the process is to take stock of all of your assets. These include any investments, your retirement accounts, insurance policies, real estate, business interests and other financially or emotionally valuable items. This would include things such as jewelry, cars, baseball card collections — basically anything that might hold deep personal significance to you.

Will — The next step involves creating a will, which will indicate what you want to happen with those assets after you’ve passed and who should inherit them. This part of the process also involves setting up a fund for any long-term care you might need in an assisted-living facility or nursing home, appointing guardians for your children, or setting up a trust for a child with a disability. You should re-evaluate and update your will often to reflect any changing circumstances in your life such as a new marriage, divorce, or new children and you should consider review your plan at least once every 3-5 years, even without a change in your circumstances to make sure your plan is up to date.

Business & Personal Affairs — During this time, you also want to carefully consider who you would want to handle your business affairs and medical care in the event that you become incapacitated. These individuals would have power of attorney and medical power of attorney if anything were to happen to you. Thus, it is very important that you choose individuals whom you trust and know will respect your wishes.

Next Steps

After making your individual bequests, it is important to sit down and discuss your plans with loved ones. The sooner you clearly outline your intentions to your family and friends, the less likely there will be disagreements that arise after you’ve gone.

Remember that every estate plan is unique. If you would like to begin the process of estate planning, contact us so you can start planning for your future immediately.

Estate Administration: Save Your Family From Years Of Court Problems With A Revocable Living Trust

Written by kwmlaw on May 23, 2016. Posted in Kelly & West News.

Most people assume that after creating a Will, their family will be all set. Everyone will get what they are supposed to get based on what instructions they leave in their Will.

Unfortunately, the process of dealing with an estate after someone dies is not that simple. Your family can spend months or even years finalizing everything — even when you have a Will in place. Here’s why: the Will goes through several steps in court before the Executor can distribute your assets to whomever you direct. So yes, your instructions will be carried out, but it may take a while.

Revocable Living Trust

Your family can avoid this annoying estate process if you create a Revocable Living Trust. A Trust is considered a separate “person” or separate legal entity in the eyes of the law. Title (your ownership) is transferred to this separate “person” called the Trust. That way when you (the Grantor), die, the Trust still exists. And because you didn’t own anything — the Trust does — there is nothing to go through court, making the process much simpler and faster — and your family won’t have to ask for the court’s permission.

Another benefit: a trust is private. Wills are filed with the Court and therefore become public documents but the trust document (called the Trust Agreement) is a private document and is not filed in any court or put on public record. Also, what most people don’t know is that when a Will is probated with the court, the court requires quite a bit of information before probating the Will such as the deceased person’s name, social security number, family information, bank account information, real estate information and other information about whether the deceased person has assets, such as life insurance, that will be paid outside the estate. A trust avoids having to provide the court with this information.

Costs

Creating a Revocable Living Trust is more expensive. A Will costs about $300 to $750 to prepare; however the probate process runs about $1,500 to $15,000, depending on the size of the estate, making the total about $1,800 to $15,750.

A trust costs between $2,000 and $7,500. This means in a larger estate, having a trust can actually be less expensive. Those with smaller estates might consider the higher cost, worth it for the privacy and the ease of administration as discussed above.

Whichever route you choose is up to you based on your personal feelings on the matter, your budget, as well as the size of your estate. Regardless of which option you choose, it’s important to have some documentation in place so your family knows what to do when you pass. The gift of a well-drafted estate plan is one of the best gifts you can give your family. We’re happy to answer any questions you have about setting up a Will or a Trust. Give us a call for a free consultation.

The Ultimate Checklist to Plan Your Estate

Written by kwmlaw on February 23, 2016. Posted in Kelly & West News.

Estate planning is not something most of us want to do. Planning what will happen after we are gone reminds us that we will not be around forever. But it’s important to make these decisions now so that your family is prepared. Start your estate planning as soon as possible so you can protect your family from any obstacles that may be encountered along the way.

While many people assume estate planning is complicated, it does not have to be an onerous process. Use this handy checklist to help you and your family know what documents you may want to consider. Not everyone will need all of these items, but this list is a great place to start when discussing your estate with your Kelly & West attorney.

The policies and documents you may need include the following:

Will

Who is going to inherit your property? Who will be named guardian of young children? How will your estate be divided among family members? A Will states your answers for all of these questions and more.

Trust

Trust can help you make decisions that go into effect before your death and avoid administering your estate with the court after you die. It explains in detail, how and when assets pass from the trustee to the beneficiaries. It simplifies the process for your family and provides extra protection for you and your loved ones.

General (Financial) Power of Attorney

This document gives an agent the power to act on your behalf, either now or when you become incompetent. This document can be durable and last through incompetency or it can spring into effect only if you become incompetent.

Health Care Power of Attorney

This document grants your agent the power to make medical decisions on your behalf. Who your doctor will be, what treatments you will receive, and what hospital you will use, are just a few examples of the powers your health care attorney can have.

Living Will

A living will has no power after your death. It does, however, state your wishes regarding life support and feeding through tubes should you have no chance of recovery. Living wills are especially important for cases where you become unable to communicate your wishes.

Limited Power of Attorney

A document providing specific powers that an attorney may have. Selling property, collecting debts, and other financial transactions are some of the common uses of a Limited Power of Attorney.

Make sure you keep all of these documents and policies organized so you will be prepared for anything. Start planning today so your family members have a better tomorrow.

Don’t Wait Until Too Late: Make End-of-Life Decisions Now

Written by kwmlaw on November 6, 2014. Posted in Kelly & West News.

We all live in the “rat race,” rushing around trying to check off our to-do lists. It’s tough to think what would happen if we weren’t competent to manage our affairs and to do the things we do. Who would care for us? Who would take care of our personal and financial business?

The best time to plan your affairs and plan what happens after you die is when you are unlikely to be sick or die in the near future. Pre-planning is easier and allows you to calmly detail the steps you would like taken in the event you are incompetent or die suddenly. Make a plan to get your affairs in order by the end of the year.

Documents You Need
Power of Attorney — This is the most important document you need. A Power of Attorney appoints someone else to make decisions for you in the event you become incompetent or unable to make your own decisions.
There are two types of Powers of Attorney in North Carolina: a General (or Financial) Power of Attorney and a Health Care Power of Attorney. The first appoints someone else to make financial and business decisions for you if you become incompetent or incapacitated (i.e. bedridden). The second names someone to make medical decisions for you if necessary.

If you do not have a Power of Attorney and you become incompetent, you may have to go to court, be declared incompetent and have a guardian appointed for you – a very timely and fairly expensive process. Additionally, your guardian will have to account to the court each year for how your money is spent; it can only be spent in accordance with the law. Given this inflexible process, we recommend you avoid this by setting up your Power of Attorneys documents now.

Living Will — Another very important document is a Living Will (formally called a Desire for Natural Death in North Carolina). This document details your wishes concerning life support and feeding through tubes, should you find yourself in a hopeless circumstance where death is imminent. This can be a great gift to family members who are trying to make decisions because it offers your specific instructions on the use of ventilators, respirators, feeding tubes, saline IVs, and more. Living Wills are inexpensive and save countless hours of anxiety for family members.

Trust — We often are asked, “What can I do today to make it as easy on my loved ones as possible when I die?” The short answer: a Trust. A Trust is a legal document that allows you to avoid probate, maintain your privacy, protects you in the event that you are incompetent or incapacitated, and may even allow you to avoid certain taxes.

While a Will is good, Trusts enable you to avoid “probate” (i.e. opening an estate with the court when you die) because legal title is no longer held by you, but is transferred to you or someone else as Trustee. A Trust can be set up to manage money or property for the lifetime of the beneficiary, to provide for education of a beneficiary, to protect a spouse, or to accomplish countless other goals, thereby making it very flexible alternative to a Will and a great option.

A Trust costs more up front, but it saves time and money in the long run. If you have a properly drafted and funded Trust, your family is often able to settle your estate in only a day or two!

Will — A Will is necessary for anyone who doesn’t want the state to decide who will take their stuff. Most Wills are relatively simple and name a person to administer the estate after death (called the “Executor”). They often provide for a spouse or a loved one, but if you only have a Will without a Trust, chances are your family will still have to go through probate and open an estate with the court when you die. This process can take a year or more to accomplish and the title for many assets will often be held by the Executor during this time. Therefore, we encourage all clients to consider a Trust to avoid the costs and delays attendant to probate and the estate administration process.

If you have questions regarding a Will, Trust, or Power of Attorney, please don’t hesitate to contact us.