Today is the 24th annual American Diabetes Association Alert Day.  Take the Diabetes Risk Test to find out if you are at risk for developing type 2 diabetes:

http://www.diabetes.org/diabetes-basics/prevention/diabetes-risk-test/?utm_source=WWW&utm_medium=ContentPage&utm_content=risk-test&utm_campaign=ALERT

Davidov Law Group is a member of the American Academy of Estate Planning Attorneys.

In most situations, a stepchild will not inherit property from a step-parent after the step-parent dies. The step-child does stand to inherit from his or her biological parents, but all inheritances are dependent on the laws of the state in which you live. Talk to a your estate planning attorney for more detailed information.

• Intestacy: When you die without will, your stepchildren are very unlikely to inherit anything at all. In some states, step-children have no intestacy rights, while in others, a step-child is the last person who stands to inherit from a step-parent before the state does. This essentially means that if there is no spouse or biological relatives of the step-parent that survives him or her, the step-child inherits. If there is no step-child, or offspring of that child, the property goes to the state.

• Wills and Trusts: If you create a Will you can choose to leave as much property to your stepchildren as you like. Similarly, if you create a trust you can choose to name your stepchildren as beneficiaries so they can receive the benefit of the property you transfer to that trust. A person creating a Will can also choose not to leave anything to his or her children, including step-children.

• Adoption: While a step-child’s rights to inherit from a step-parent are much more limited than the parent’s children, a step-child that a step-parent adopts has the same right to inherit as any other child. State inheritance laws do not differentiate between children and adopted children, even if the adopted children are former step children.

Davidov Law Group is a member of the American Academy of Estate Planning Attorneys.

We at Davidov Law Group would like to wish you all a very Joyous Hanukkah, a Merry Christmas and a Happy and Healthy New Year!

Davidov Law Group is a member of the American Academy of Estate Planning Attorneys.

Thank you to all the Veterans who have served and continue to serve our country, as well as to the families of Veterans!  Through your sacrifices, you have given the rest of us peace and freedom.

Davidov Law Group is a member of the American Academy of Estate Planning Attorneys.

As you likely have experienced, getting married brings lots of changes to your estate plan, so updates are needed.  As life changes, your estate plan must also change to reflect your current personal and financial situation as well as current law.  As a benefit of updating, you also will benefit from newly established planning techniques as well.

If you’ve recently gotten married or are preparing to do so:

• Consult with a Qualified Estate Planning Attorney

No doubt about it, you and your new spouse will need to totally revamp your estate plans when you get married, or, in preparation of marriage.  This is not a path to go alone.

• Health Care Documents

You likely want to name your new spouse as your agent under your health care proxy.  Your agent can make health care decisions on your behalf if you cannot.  In addition, discuss your wishes for a living will and organ donation with your spouse; then, get your wishes in writing.

• Financial Documents

Consider naming your new spouse as your agent under your financial power of attorney and as a trustee of your revocable living trust.  As in all estate planning documents, name contingent trusted helpers as well; don’t just name your spouse.

• Passing Financial Assets

If your spouse is dependent upon your income and assets, be sure to make your spouse a beneficiary of your will or trust, retirement plans, life insurance, pensions, and annuities.  However, if you have children from a previous relationship, consult with a qualified estate planning attorney to balance these interests; otherwise, you might unintentionally disinherit your children.

• Final Arrangements

Chat with your spouse about what is important to you regarding final arrangements.  Do you want the body to be buried, cremated, or both?  Do you want certain people invited, a specific clergy person to speak, or a special song to be sung?

• Love Letter

Write your spouse (and other loved ones) a love letter and keep it with your estate planning documents and other important papers.  It will create a lasting legacy and, likely, become the most treasured inheritance.

If you’ve recently gotten married or are about to, consult with a qualified estate planning attorney to update your estate plan.

Davidov Law Group is a member of the American Academy of Estate Planning Attorneys.