The Importance of Estate Planning For Parents With Minor Children in Charlotte, North Carolina

As a parent, your children's well-being is your top priority. While no one wants to imagine a future where they're not there to care for their children, planning for such a possibility is one of the most important responsibilities you can undertake. Choosing guardians for your minor children is a crucial aspect of this planning, ensuring that your kids are raised by someone you trust and who shares your values. This decision is not one to be taken lightly, and this blog post will guide you through the process, highlighting the key considerations and how D.Rowe Law, with its experienced estate planning and tax lawyer Daniel Rowe, Esq., CPA, can provide invaluable assistance. Why Choosing a Guardian is Essential: If something were to happen to both parents, a court would decide who will care for your children. Without a designated guardian in your will, this decision rests solely with the court, which may not choose someone you would have selected. Choosing a guardian allows you to express your wishes clearly and gives your children the security of knowing who will care for them in your absence. It's a vital part of responsible parenting and provides peace of mind knowing your children's future is secure. Factors to Consider When Choosing a Guardian: Selecting a guardian is a deeply personal decision, and there's no one-size-fits-all answer. Here are some critical factors to consider: Relationship with Your Children: The guardian should have a positive and loving relationship with your children. They should be someone your children know and trust, making the transition smoother in a difficult time. Values and Parenting Style: Consider whether the potential guardian's values and parenting style align with your own. Look for someone who will raise your children with similar principles and beliefs. Lifestyle and Stability: Evaluate the guardian's lifestyle, including their living situation, financial stability, and family dynamics. Your children will be living with this person, so their environment is crucial. Location: Consider where the potential guardian lives. Would your children have to move far from their friends, school, and familiar surroundings? While not always the deciding factor, location can be an important consideration. Age and Health: Think about the potential guardian's age and health. Raising children is demanding, and you want someone with the energy and ability to do so. Willingness to Serve: Don't assume someone will be willing to take on the responsibility of guardianship. Have an open and honest conversation with them about your wishes and ensure they are comfortable with the commitment. Financial Stability: While you can provide for your children financially through your estate plan, the guardian's financial stability is still a factor. You want to ensure they can provide a comfortable home and meet your children's basic needs. Legal Guardianship vs. Custody: It's important to understand the difference between legal guardianship and custody. A guardian is responsible for the child's physical care and well-being, while custody refers to the legal right to make decisions about the child's upbringing. In most cases, the guardian will also have custody, but it's essential to clarify this in your estate plan. Who to Choose as a Guardian: There's no right or wrong answer when it comes to choosing a guardian. Some common choices include: Family Members: Grandparents, siblings, aunts, and uncles are often considered. They typically have a close relationship with the children and share similar values. Close Friends: Trusted friends who are like family can also be excellent guardians. They may share your values and have a strong bond with your children. Godparents: If your children have godparents, they may be a natural choice. They often play a significant role in your children's lives and are committed to their well-being. What to Avoid When Choosing a Guardian: Choosing Someone Without Discussing It: Don't assume someone will be willing to take on the responsibility. Have a thorough conversation with them about your wishes and make sure they are comfortable with the commitment. Choosing Based on Guilt or Obligation: Don't feel pressured to choose someone you don't feel is the right fit. The most important consideration is your children's well-being. Choosing Someone Who Lives Far Away Without Considering the Impact: Moving can be traumatic for children, especially after the loss of their parents. Consider the impact of a move on your children's lives. Failing to Update Your Guardianship Designation: Life circumstances change. Review your guardianship designation periodically and update it as needed to reflect any changes in your family or the potential guardian's situation. The Importance of a Will and Estate Plan: Choosing a guardian is just one part of a comprehensive estate plan. Your will is the primary legal document that designates your chosen guardian. It's also essential to have other estate planning documents in place, such as: Power of Attorney: This document allows someone you trust to manage your financial affairs if you become incapacitated. Healthcare Directive: This document outlines your wishes for medical care if you are unable to make decisions for yourself. How D.Rowe Law Can Help: Daniel Rowe, Esq., CPA, the founder of D.Rowe Co., is one of Charlotte, North Carolina's most trusted and experienced estate planning and tax lawyers for families and small businesses. He can provide invaluable assistance in choosing a guardian for your children and creating a comprehensive estate plan that protects their future. Here's how D.Rowe Law can help: Guidance and Advice: Daniel Rowe can provide expert guidance and advice on choosing a guardian, considering all the relevant factors and helping you make an informed decision. Drafting Legal Documents: He can draft all the necessary legal documents, including your will, power of attorney, and healthcare directive, ensuring your wishes are clearly and legally documented. Estate Planning: He can help you develop a comprehensive estate plan that addresses all your needs and ensures your children's financial security. Tax Planning: As a CPA, Daniel Rowe can also advise you on the tax implications of your estate plan and help you minimize any tax burdens. Choosing a guardian for your minor children is one of the most important decisions you will make as a parent. It's a way to ensure your children are cared for by someone you trust and who shares your values. By carefully considering the factors outlined in this blog post and working with an experienced estate planning attorney like Daniel Rowe at D.Rowe Law, you can have peace of mind knowing your children's future is secure. Don't delay this crucial step – contact D.Rowe Law today to begin planning for your children's future.

Running a small business in North Carolina is rewarding, but it also comes with the responsibility of navigating the state's tax laws. Effective tax planning is essential for minimizing your tax burden and maximizing your profits. With 2025 approaching, now is the time to review your tax strategy and ensure you're taking advantage of all available opportunities. Key Tax Planning Strategies for North Carolina Businesses Understand North Carolina's Tax Structure: Corporate Income Tax: North Carolina has a flat corporate income tax rate. Familiarize yourself with the current rate and any potential changes for 2025. Franchise Tax: North Carolina imposes a franchise tax on corporations based on their net worth. Understand how this tax is calculated and its potential impact on your business. Sales Tax: Ensure you're collecting and remitting the correct sales tax for your goods and services. Stay informed about any changes in rates or exemptions. Maximize Deductible Expenses: Home Office Deduction: If you operate your business from home, you may be eligible to deduct a portion of your home-related expenses, such as rent, utilities, and insurance. Vehicle Expenses: Track your mileage and vehicle-related expenses for potential deductions. Business Equipment and Supplies: Deduct the cost of equipment, software, and supplies used for your business operations. Employee Benefits: Deductible benefits may include health insurance premiums, retirement plan contributions, and other employee-related expenses. Depreciation and Amortization: Depreciate Capital Assets: Take advantage of depreciation deductions to recover the cost of assets like equipment, vehicles, and buildings over time. Amortize Intangible Assets: Amortize the cost of intangible assets, such as patents, trademarks, and copyrights, over their useful life. Consider Pass-Through Entities: S Corporations and LLCs: These business structures allow profits and losses to pass through to the owners' personal income tax returns, potentially reducing your overall tax liability. Consult with a Tax Professional: Determine if a pass-through entity is the right choice for your business structure. State Tax Credits and Incentives: Research Available Credits: North Carolina offers various tax credits and incentives for businesses, such as those related to job creation, research and development, and renewable energy. Explore Eligibility: Determine if your business qualifies for any of these programs and take advantage of potential tax savings. Sales Tax Holidays: Stay Informed: North Carolina may offer sales tax holidays on specific items, such as school supplies or energy-efficient appliances. Plan your purchases strategically to take advantage of these tax breaks. How D.Rowe Tax Can Help D.Rowe Tax led by Daniel Rowe, Esq., CPA, and his team specialize in helping small businesses in North Carolina and abroad to navigate the complexities of state tax laws. Here's how they can assist you: State Tax Compliance: They will ensure you comply with all North Carolina tax laws and regulations, including filing requirements and deadlines. Tax Planning and Strategy: They will develop a customized tax plan to minimize your tax liability and maximize your profitability. Tax Credit and Incentive Guidance: They will help you identify and utilize available tax credits and incentives. Tax Return Preparation: They will accurately prepare and file your state and federal tax returns. Tax Audit Representation: They will represent you in the event of a tax audit by the North Carolina Department of Revenue. Don't Navigate Tax Season Alone Tax planning is crucial for the success of your North Carolina small business. Contact D.Rowe Tax today for a consultation and let their expertise guide you towards a prosperous 2025.

The way you structure your business can significantly impact your tax obligations. Choosing the right structure can optimize your tax benefits, minimize your tax liability, and set your business up for long-term financial success. Understanding Your Business Structure Options When starting a business, you'll need to choose a legal structure. The most common structures include: Sole Proprietorship: A simple structure where the business and the owner are one and the same. Partnership: A business owned by two or more individuals. Limited Liability Company (LLC): A hybrid structure that offers liability protection and tax flexibility. Corporation: A separate legal entity with its own rights and responsibilities. Key Factors to Consider When Choosing a Structure Liability Protection: Some structures, like LLCs and corporations, offer personal liability protection, shielding your personal assets from business debts and liabilities. Tax Implications: Different structures have varying tax implications. Some structures allow for pass-through taxation, while others are subject to corporate taxes. Administrative Requirements: Certain structures require more paperwork and formalities than others. Funding and Ownership: The structure you choose can impact how you raise capital and manage ownership. The Role of a Tax Attorney A skilled tax attorney can help you navigate the complex tax landscape and make informed decisions about your business structure. They can: Analyze Your Business Goals: Understand your long-term vision and recommend the best structure to support your objectives. Assess Tax Implications: Evaluate the tax consequences of different structures and identify potential tax savings. Help with Entity Formation: Assist in the formation of your chosen business entity, ensuring compliance with all legal and regulatory requirements. Provide Ongoing Tax Advice: Offer guidance on tax planning, compliance, and strategies to minimize your tax liability. D.Rowe Co: Your Trusted Partner for Business Structuring D.Rowe Co, led by Daniel Rowe, Esq., CPA, is a leading law firm specializing in tax law for start-ups and wellness businesses. With a deep understanding of the unique tax challenges faced by these industries, D.Rowe Co provides comprehensive legal and tax advice to help you achieve your business goals. How D.Rowe Co Can Help You Expert Legal Counsel: Benefit from the expertise of Daniel Rowe, a seasoned tax attorney with extensive experience in business law and tax planning. Tailored Strategies: Receive personalized advice based on your specific business needs and financial goals. Proactive Tax Planning: Implement proactive strategies to minimize your tax burden and maximize your after-tax income. Compliance Assurance: Ensure compliance with all federal, state, and local tax laws and regulations. Representation in Tax Audits: If you face a tax audit, D.Rowe Co will represent your interests and protect your rights. Don't Let Tax Complexity Hinder Your Business Growth By carefully considering your business structure and seeking expert advice, you can position your business for long-term success. D.Rowe Co is committed to helping you make informed decisions and achieve your financial objectives. Contact D.Rowe Co Today To schedule a consultation with Daniel Rowe, Esq., CPA, or to learn more about how D.Rowe Co can assist you, contact us directly.

If you've ever considered planning for your future or helped someone plan for theirs, you've probably heard the term "power of attorney." But do you really know what it is? The terms “power” and “attorney” carry weight but may not mean what you think. In fact, there are many misconceptions about what a power of attorney is and what authority it gives to someone. And no, it doesn’t grant someone a temporary law degree. In this article, I’ll address the misconceptions about powers of attorney so you have clarity about what to do if someone appoints you as their power of attorney. Then, armed with this knowledge, you’ll understand your legal responsibilities so you don’t inadvertently make any mistakes or run afoul of the law. Let’s start with a little background info. If a power of attorney doesn’t confer attorney status, then why is it called that? What is a Power of Attorney? Generally speaking, a power of attorney is a legal document granting someone else the authority to act on your behalf regarding your financial life. The term "power of attorney" is a bit of a historical holdover. Originally, powers of attorney were primarily used to appoint lawyers to represent individuals in legal matters. However, over time, the concept has expanded to include appointing someone to act on your behalf for various purposes. So, while you don't need to be an attorney to hold a power of attorney, the term has continued due to its historical origins. Granting power of attorney is a way to indicate that an appointed person has the authority to act as your agent or representative, similar to the way an attorney would act on your behalf. Not everyone wants someone to act on their behalf to manage their financial affairs. In fact, I’d venture that most people don’t. But there are times when it’s necessary in order to preserve your assets, especially if you reach a point in life when you are unable to manage your own financial, legal or healthcare matters, whether from old age, a terrible accident or simply being out of the country for that year-long trip you’ve been planning for years. In each of these cases, it’s possible that if you don’t have someone acting on your behalf, problems could occur. Your financial institutions could charge extra fees on your accounts, a fraudster could drain your accounts and you wouldn’t know it happened, taxes could go unpaid, your property could go into foreclosure, or your credit ruined. So to prevent these horrific outcomes, you want someone else to be able to maintain your financial life on your behalf. Types of Powers of Attorney We don’t need to get too much in the weeds here (if you want to get in the weeds, though, read to the end and I’ll show you how to book a call with me), know that there are different types of powers of attorney, each with its own specific purpose. Here are some examples: General Power of Attorney: This grants the agent broad authority to act on your behalf, including managing your finances and signing legal documents, even if you’re capable of handling your affairs. It becomes effective as soon as you execute the document. When might you want this? Say you travel for work and you and your spouse have decided to refinance your mortgage. You may want your spouse to sign the paperwork on your behalf, rather than waiting for a time you’re back in town. Springing Power of Attorney: This also grants authority to someone to manage your financial and legal affairs. You can execute the document whenever you want, but it doesn’t kick in until you’re no longer able to make your own decisions. Durable Power of Attorney: This is a type of general power of attorney that remains in effect even if you become incapacitated. Think of it as the General and Springing Powers of Attorney combined. Limited Power of Attorney: This grants the agent authority to handle specific tasks only, such as managing your property or making healthcare decisions. Healthcare Power of Attorney: This grants your named agent authority to make medical decisions on your behalf. Even though each of these documents operates differently, they all have one important thing in common: the agent’s power ends as soon as you die. What No One Told You About a Power of Attorney: It Ends With Death You may mistakenly believe that a power of attorney gives someone the right to access your financial accounts indefinitely. However, this isn't the case. A power of attorney is a temporary arrangement that ends when the person who granted the power dies. What does this mean, exactly? Let’s say your aging mother can no longer manage her affairs and she executed a Power of Attorney to give you the authority. While she’s living, you can access her bank accounts to make sure all her bills are paid, and paid on time. But as soon as she dies, you no longer have the legal authority to access any of her accounts. If she had a Will or no estate plan at all, you will have to file paperwork with the probate court and wait for the case to make it through the court system until the judge grants you authority again. In the meantime, if you can’t afford to cover her bills along with your own, you may have to make the difficult decision to let her bills go unpaid. If she still has a mortgage on her house, for instance, and you can’t pay her mortgage and yours, too, the bank could begin to fore lose, and you could lose any equity she had. This equity could have been a significant part of your inheritance. Going to court can be a frustrating and time-consuming process, and if you haven’t planned appropriately you can suffer negative consequences. But there’s a silver lining. You and your loved ones can avoid probate court, and maintain access to the other’s finances, if you create a Life & Legacy Plan. The Good News With some careful planning ahead of time, you can ensure all your bills get paid and your assets are preserved for your loved ones. The way to do that is by creating a Life & Legacy Plan with a living trust. A trust is a legal arrangement that allows you to transfer your assets to a trustee, who manages them for the benefit of your beneficiaries. Importantly, a trust survives your death, so there’s no disruption in the ability for someone to manage your finances after you die. You may have seen ads on the internet, or maybe your financial advisor has offered to draft a trust for you. And you may have the impression that a trust is a simple document you can get for little to no money. But I want to empower you with some education before deciding to go one of these routes. A trust is a legal document with legal consequences, and even lawyers who’ve gone to law school, passed the bar, and practiced law for awhile find that trusts are more complicated than they first thought. If you draft a trust yourself or with someone who isn’t a lawyer who specializes in this area of the law, you’re taking a big chance with your money and your family. I see these cases often, and usually, the trust isn’t worth the paper it’s written on. You owe it to yourself and your loved ones to ensure your power of attorney, trust, and related estate planning tools are created correctly and updated over time, and that you understand the benefits and consequences of your plan. When you work with me to create a Life & Legacy Plan, I’ll empower you with the education you need so you can make the right choices for yourself and your family, that you fully understand how your plan works, and that your family has my support after you’re gone. How We Help You Preserve What Matters Understanding the limitations of a power of attorney and the benefits of a trust is crucial for protecting your hard-earned assets. As your Personal Family LawyerⓇ Firm, we specialize in helping individuals like you create a Life & Legacy Plan that addresses your unique needs and provides peace of mind, no matter what happens. Once your plan is in place, you can rest easy knowing that your wishes will be honored, your loved ones cared for, and your property protected. Click here to schedule a complimentary 15-minute consultation to learn more and start your journey toward a secure financial future! This article is a service of D.Rowe Co. PLLC, a Personal Family Lawyer® Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Life & Legacy Planning Session™, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life & Legacy Planning Session™. The content is sourced from Personal Family Lawyer® for use by Personal Family Lawyer ® firms, a source believed to be providing accurate information. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.

Imagine discovering thousands of dollars that belong to you, only to be told you can't have it. This frustrating scenario became a reality for a woman named Dale Benerofe, a Georgia resident, when she found $23,000 in unclaimed property from her deceased parents. Her tragic story sheds light on a little-known issue that affects millions of Americans: unclaimed property. In this article, you'll discover what unclaimed property is, how to find it, and why proper estate planning could have ensured Ms. Benerofe received her inheritance. But before we dive into her story, let’s get clear on what unclaimed property is, and how it could impact you and your family. What Is Unclaimed Property? Unclaimed property refers to financial assets that have been abandoned or forgotten for a specific period, typically three to five years. The financial institutions can’t hold on to your money indefinitely. If no one comes forward to claim the assets, the law requires these assets to be turned over to the state for safekeeping. Typical forms of unclaimed property include: Forgotten checking or savings accounts Uncashed dividends or payroll checks Abandoned stocks, bonds, or brokerage accounts Unclaimed life insurance proceeds Refunds and trust distributions Forgotten certificates of deposit and annuities Often, these assets end up unclaimed because someone dies and their loved ones have no idea that the assets exist. And, it’s far more common than you may think, to the tune of approximately $60 billion across the US. Consider your personal reality for a minute. If something happened to you tomorrow, would your family know exactly what you have and where to find it? Are you certain they wouldn’t miss something? If you’re like most people, the answer is no, you aren’t certain. What you are likely certain about is that your family would overlook some of your assets if you were to become incapacitated or die tomorrow. And, if they did, those assets could either disappear entirely or end up in your state’s department of “unclaimed property.”According to the National Association of Unclaimed Property Administrators, approximately one in seven Americans has some form of forgotten property owed to them. As of this writing, the total amount of unclaimed property nationwide is between $50 billion and $70 billion. You read that right. Billions of dollars. With a sum that high, it’s easy to see how it’s possible you, too, may have unclaimed property belonging to you. What the Process Looks Like Finding out if you have unclaimed property can be an arduous process. Even though you can search online, you’ll go through many steps before (or if) you can receive your money. Here’s what the process looks like: Step 1 - Check multiple states. Conduct a search in your current state of residence and any other states where you've lived, worked, or conducted business. Step 2 - Search variations of your name. Try different spellings and include your middle name or initial to ensure a thorough search. If your name has changed over the years, you must also check your former names. Again, search all variations of your name in states where you’ve lived, worked, or conducted business. Step 3 - File a claim. If you find property owed to you, you must file a claim form (usually online) with the state holding your assets. You’ll need to file a form in every state where your assets are held; there is no one-form-to-rule-them-all. Step 4 - Gather documentation to prove your identity and the identity of your loved one(s). Be prepared to provide documentation to prove your identity and your right to the property. This may include proof of address (at any address you’ve lived), proof of name change, or proof of marriage or divorce. You’ll need to provide similar documentation for your loved ones if you have a claim to their property. Finally, be patient. Depending on the state and the complexity of your claim, the claim process can take weeks, months, or even years. A Real-Life Experience and Cautionary Tale Even if you take the above steps to find the property and make a claim for it, you may not be able to receive the money rightfully owed to you. This is what Dale Benefore’s story can teach us. Ms. Benefore discovered $23,000 that had belonged to her parents and should have been passed on to her after their deaths. She was surprised and excited because that sum would have made a significant difference to her and her family. So, in May of 2023, she filed a claim for the money with the State of Georgia’s Department of Revenue. As requested by the State, she provided her parents’ death certificates and other documentation proving their deaths. However, when the department requested her father’s driver's license, she couldn’t provide it. It had been long gone. As of this writing - more than a year since Ms. Benefore filed her claim - she’s still fighting for her money. She’s frustrated, saying the process has been time-consuming and disheartening, and that this is not what her parents would have wanted for her. In a news interview, she claimed her “mom would be livid” if she knew what Benefore has been through. The Easy Way to Ensure Your Assets Aren’t Lost There’s an easy solution to this problem and a way to ensure no assets get lost and turned over to the government. It’s called Life & Legacy PlanningⓇ, and it’s the type of estate planning I do. A well-crafted Life & Legacy Plan includes a comprehensive inventory of assets that stays updated over time so your loved ones know exactly what you have when something happens to you. If her parents had had a Life & Legacy Plan, Ms. Benefore would have received the $23,000 years ago, without the time and stress of fighting with the State of Georgia. My Life & Legacy Planning process starts with education about what would happen to the assets you have, and how you want them distributed after you die. From there, we’ll go through the many options available to you so you can pick the right plan that works for you and your family. We work with you throughout the planning process to create a thorough inventory of your assets that’s kept private (and maintained and updated throughout your life) until your family needs it. With a Life & Legacy Plan, you have peace of mind knowing that your loved ones can’t access your money while you’re alive (unless you want them to), but they’ll also be able to get to it easily after you’re gone. No worrying about losing your hard-earned money to the government. And if you’ve already created your Life & Legacy Plan with us, you already know how important it is to keep your asset inventory updated, so keep an eye out for our reminders to review and update your plan. However, if you know now that you need to update your plan due to a life change or a change to your assets, don’t hesitate to call us right away. Ready to Secure Your Assets? We Can Help There is way too much money in the State Treasury Departments not to take notice. But by reading this article and educating yourself, you’re already on the path to protecting your assets for your loved ones. We can guide you the rest of the way. As a Personal Family LawyerⓇ Firm, we help you create a Life & Legacy Plan so that your plan works when your family needs it to. Once you’ve created your plan, you can rest easy knowing your wishes will be honored, your loved ones cared for, and your property protected. It’s the last and greatest gift you can give to those you love most. Click here to schedule a complimentary 15-minute consultation to learn more: This article is a service of D.Rowe Co. PLLC, a Personal Family Lawyer® Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Life & Legacy PlanningⓇ Session, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life & Legacy PlanningⓇ Session. The content is sourced from Personal Family Lawyer® for use by Personal Family Lawyer® firms, a source believed to be providing accurate information. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.

You've worked hard to build your assets and secure your family's future. Like many responsible adults, you've named beneficiaries on your retirement accounts, life insurance policies, and maybe even your banking and investment accounts. It feels good to know you've put something in place for your loved ones. But here's the truth many financial advisors, CPA’s, and even other lawyers won’t tell you: relying solely on beneficiary forms for your estate plan can lead to unintended consequences and potential financial disasters for your loved ones. While beneficiary designations serve a purpose, they're far from a comprehensive estate planning solution. Let's explore why beneficiary designations alone fall short and the risks you may be unknowingly taking with your family's financial future. The Dangers of Naming Minor Children As Your Beneficiaries You love your children and want to ensure they're cared for if something happens to you. Naming them as beneficiaries on your accounts seems like a straightforward way to achieve this goal. However, this approach can backfire spectacularly when your children are minors. You create a legal and financial quagmire when you designate a minor as a beneficiary. Financial institutions can't simply hand over large sums of money to children. Instead, the court will likely appoint a guardian to manage the funds. This process can be time-consuming, expensive, and may not align with your wishes. Even more concerning is what happens when your child reaches the age of majority, typically 18 or 21, depending on your state. At this point, they gain complete control of the inherited assets. Ask yourself: Is your 18-year-old ready to manage a six or seven-figure life insurance policy? What about your retirement account? For most young adults, the answer is a resounding no. Imagine your child receiving a windfall at an age when they're still learning to navigate adult responsibilities. They might make impulsive financial decisions, fall prey to manipulative friends or partners, or simply lack the maturity to handle sudden wealth. By relying solely on beneficiary designations, you're potentially setting your child up for financial mismanagement or even exploitation. There is a much better way to ensure your children receive their inheritance at an age (or ages) you deem appropriate: a Life & Legacy Plan. With our Life & Legacy Planning process, we support you in providing for your child's needs while protecting the assets until they reach a more appropriate age to manage them independently. This approach ensures your hard-earned money supports your child's long-term well-being rather than funding a brief period of reckless spending. When a Beneficiary Dies Before You Life is unpredictable, and tragedy can strike at any time. While it's uncomfortable to contemplate, your named beneficiaries may predecease you or die with you in an accident. This scenario can throw your estate into chaos if you've relied entirely on beneficiary forms. When a named beneficiary dies before you, the fate of those assets becomes uncertain. Some accounts may have provisions for contingent beneficiaries, but many people neglect to name backups. In other cases, the asset may revert to your estate, potentially subjecting it to probate – a time-consuming and potentially expensive legal process you likely wanted to avoid by using beneficiary designations in the first place. The situation becomes even more complex if you and your primary beneficiary die simultaneously or in quick succession. In such cases, determining the order of death can have significant implications for how your assets are distributed. Without a comprehensive estate plan in place, your assets may end up going to unintended recipients or getting tied up in lengthy legal battles. A Life & Legacy Plan, however, can provide clear instructions for various scenarios, including the death of beneficiaries. By establishing a will or trust, you can create a chain of inheritance that accounts for multiple contingencies, ensuring your assets are distributed according to your wishes regardless of the circumstances. The Risks of “Set-It-and-Forget-It” Planning Life is dynamic and filled with changes, both big and small. Your financial situation evolves, relationships shift, and laws change. Yet, all too often, people treat beneficiary designations as a "set it and forget it" solution. This static approach to estate planning can lead to severe problems down the line. Consider how much can change over the course of a few years or decades: You may divorce or remarry, dramatically altering your family structure. Children grow up, and your relationship with them may change. Your financial situation could improve significantly, making previous designations inadequate. Tax laws and regulations around inherited assets may be revised. You might develop new philanthropic interests or want to include charitable giving in your legacy. If you don't regularly review and update your beneficiary designations, they may no longer reflect your current wishes or circumstances. It's not uncommon for people to unknowingly leave substantial assets to ex-spouses or estranged relatives simply because they failed to update their beneficiary forms (in fact, check out my blog for a recent article about this). In addition, beneficiary designations don't allow for the nuanced distribution of assets that many people desire as their wealth grows. You might want to establish conditions for inheritance, protect assets from creditors, or provide for family members with special needs. These complex wishes simply can't be accommodated through standard beneficiary forms. On the other hand, a Life & Legacy Plan is designed to adapt to life's changes. Regular reviews with my office ensure your plan evolves with you, reflecting your current situation and desires. This means your assets go to the people you want in the way you want, and your plan works when you and your loved ones need it. The Peace of Mind That Comes From Careful Planning To truly protect your legacy and ensure your wishes are carried out, you need a Life & Legacy Plan, rooted in education about what would happen to you, your family, and your assets if you become incapacitated and when you die. From there, we craft a plan together that reflects your wishes, works when you need it to, and fits within your budget. This might include a will, one or more trusts, powers of attorney, and healthcare directives, in addition to carefully considered beneficiary designations. When we complete your original Life & Legacy Plan, you’ll have peace of mind knowing that it will: Protect minor beneficiaries and ensure assets are managed responsibly; Provide for multiple contingencies, including the death of beneficiaries; Minimize taxes and avoids probate when possible; Reflect your values and complex wishes for asset distribution; Adapt to changes in your life, finances, and the legal landscape. Don't leave your legacy to chance or expose your loved ones to unnecessary financial risks. Your family's future security is worth the time and financial investment in proper planning. Remember, a truly effective estate plan is a living document that grows and changes with you, providing peace of mind today and security for generations to come. Know, too, that if you’ve already created your Life & Legacy Plan with me, keep an eye out for reminders to review and update your plan. If you know that you need to update your plan before we remind you, don’t hesitate to call us immediately. How We Help You Create the Right Plan For Your Needs As a Personal Family LawyerⓇ Firm, we help you create a Life & Legacy Plan so that your loved ones stay out of court and conflict and have a plan that works when you need it to. Once you’ve created your plan, you can rest easy knowing your wishes will be honored, your loved ones cared for, and your assets protected. We’ll also touch base regularly to ensure your plan and beneficiary designations stay updated over time, taking the burden off your shoulders to make changes to your plan when needed. After all, you have enough to worry about each day. Click here to schedule a complimentary 15-minute consultation to learn more about how we support you: This article is a service of D.Rowe Co. PLLC, a Personal Family Lawyer® Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Life & Legacy Planning® Session, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life & Legacy Planning® Session. The content is sourced from Personal Family Lawyer® for use by Personal Family Lawyer® firms, a source believed to be providing accurate information. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.

Life is full of uncertainties, and while we hope for the best, it is prudent to prepare for unforeseen circumstances. One crucial aspect of this preparation involves managing your financial affairs in case of incapacity. A Financial Power of Attorney (FPOA) is a vital legal tool that allows you to designate someone you trust to handle your financial matters if you are unable to do so yourself. Daniel Rowe, Esq., CPA, the founder of D.Rowe Co., is one of Charlotte, North Carolina's most trusted and experienced estate planning lawyers, particularly for parents with minor children. In this comprehensive guide, we will explore the importance of a Financial Power of Attorney and how D.Rowe Co. can assist you in setting one up. Understanding Financial Power of Attorney A Financial Power of Attorney is a legal document that grants a designated individual, known as the agent or attorney-in-fact, the authority to manage your financial affairs on your behalf. This document becomes especially crucial if you become incapacitated due to illness, injury, or any other reason that renders you unable to make decisions for yourself. Types of Financial Power of Attorney There are several types of Financial Power of Attorney, each serving different purposes: General Power of Attorney: Grants broad powers to the agent to handle all financial matters on behalf of the principal (the person granting the power). Limited Power of Attorney: Grants specific powers to the agent for particular tasks or for a limited period. Durable Power of Attorney: Remains in effect even if the principal becomes incapacitated, making it the most suitable for long-term planning. Springing Power of Attorney: Comes into effect only when a specified event occurs, such as the principal's incapacitation. The Importance of a Financial Power of Attorney A Financial Power of Attorney is a crucial component of comprehensive estate planning. Here’s why it is essential: Ensures Continuity of Financial Management If you become incapacitated, bills still need to be paid, investments managed, and financial decisions made. An FPOA ensures that someone you trust can handle these responsibilities seamlessly. Avoids Court Intervention Without an FPOA, your family may need to seek a court-appointed guardian or conservator to manage your affairs, which can be time-consuming, costly, and stressful. Protects Your Interests By choosing an agent you trust, you ensure that your financial affairs are managed according to your preferences and in your best interest Provides Peace of Mind Knowing that your financial matters will be handled properly if you cannot manage them yourself provides peace of mind for you and your loved ones. How to Choose an Agent Choosing the right agent is critical. Here are some factors to consider: Trustworthiness The agent should be someone you trust implicitly, as they will have significant control over your financial matters. Financial Acumen The agent should have a good understanding of financial management and be capable of handling complex financial tasks. Availability The agent should be willing and able to take on the responsibilities involved, especially in the case of long-term incapacity. Understanding of Your Wishes The agent should understand your financial preferences and be committed to acting in your best interests. How D.Rowe Co. Can Help Daniel Rowe, Esq., CPA, the founder of D.Rowe Co., brings a unique blend of legal and financial expertise, making him exceptionally well-suited to assist with setting up a Financial Power of Attorney. Here’s how D.Rowe Co. can help: Expert Legal Guidance With years of experience in estate planning, Daniel Rowe provides expert legal guidance tailored to your specific needs. He ensures that your FPOA is comprehensive and aligns with your long-term financial goals. Personalized Service D.Rowe Co. understands that every client’s situation is unique. They take the time to understand your specific circumstances and provide personalized solutions that meet your needs. Comprehensive Estate Planning A Financial Power of Attorney is just one aspect of estate planning. D.Rowe Co. offers a full range of estate planning services, including wills, trusts, and healthcare directives, to ensure that all aspects of your estate are properly managed. Ongoing Support Estate planning is not a one-time event. D.Rowe Co. provides ongoing support to ensure that your estate plan remains up-to-date and relevant as your circumstances change. Focus on Families with Minor Children Daniel Rowe is particularly experienced in estate planning for parents with minor children. He understands the unique concerns and priorities of parents and ensures that your estate plan provides for the well-being and security of your children. The Process of Setting Up a Financial Power of Attorney with D.Rowe Co. Setting up a Financial Power of Attorney with D.Rowe Co. involves several steps: Initial Consultation During the initial consultation, Daniel Rowe will discuss your financial situation, goals, and concerns. This helps him understand your needs and recommend the best type of FPOA for your circumstances. Drafting the Document Once the details are settled, Daniel Rowe will draft the Financial Power of Attorney document. He ensures that all legal requirements are met and that the document is tailored to your specific needs. Reviewing and Signing You will have the opportunity to review the document and ask any questions. Once you are satisfied, you will sign the document, typically in the presence of a notary public. Storing the Document D.Rowe Co. advises on the best practices for storing the original document and providing copies to your agent and other relevant parties. Regular Reviews D.Rowe Co. recommends regular reviews of your Financial Power of Attorney to ensure it remains current and reflects any changes in your financial situation or preferences. Common Misconceptions About Financial Power of Attorney Only for the Elderly While it is true that an FPOA is crucial for the elderly, it is equally important for younger individuals, especially parents with minor children. Accidents and illnesses can occur at any age, and having an FPOA ensures that your financial matters are handled regardless of your age. It Means Giving Up Control Granting an FPOA does not mean giving up control over your finances. It simply ensures that someone you trust can step in if you are unable to manage your affairs. You can also specify the scope and duration of the agent’s powers. All Powers of Attorney Are the Same There are different types of Powers of Attorney, each serving different purposes. It is essential to choose the right type that aligns with your needs and circumstances. Conclusion A Financial Power of Attorney is an essential tool for managing your financial affairs in case of incapacity. It provides peace of mind, ensures continuity of financial management, and protects your interests. Choosing the right agent and setting up the FPOA correctly is crucial to its effectiveness. D.Rowe Co., led by Daniel Rowe, Esq., CPA, offers expert guidance and personalized service to help you set up a Financial Power of Attorney that meets your needs. With a focus on families with minor children, D.Rowe Co. ensures that your estate plan provides for the security and well-being of your loved ones. For more information and to schedule a consultation, visit D.Rowe Co. . Let Daniel Rowe and his team help you navigate the complexities of estate planning and ensure that your financial affairs are in good hands.

June marks Men’s Health Month, a time dedicated to raising awareness about health issues predominantly affecting men and encouraging the early detection and treatment of disease among men and boys. So this month, let’s turn the focus to you, gentlemen. You already know that taking care of your health allows you to prolong your life and enhance your quality of life. But have you given serious thought to how your health directly impacts your future? Your legacy? The ones you love the most? What we’re talking about here is estate planning, and it’s every bit as important as your physical health. I know, I know, it could sound weird to equate health with estate planning, but hear me out. By the end of the article, the connection will be clear. The Link Between Your Health and Estate Planning Estate planning often brings to mind wills, trusts, and other legal paperwork, and in fact, that’s maybe what you initially thought when you read the title of this article. However, I want to challenge that assumption with this: the documents are merely the byproduct of estate planning. You may be thinking, How are documents the “byproduct” of estate planning? Here’s what I mean. Estate planning is all about ensuring your wishes are honored if you become incapacitated so you can live and die with dignity. It’s also about ensuring that the people you love most will know you loved them, that they’re cared for when you’re gone in a way you cared for them while you lived, and that you’ve removed all the pain, potential conflict and expense they will have to endure if you have no plan in place. Estate planning supports your loved ones to grieve in peace rather than face a long, expensive court process or confusion regarding how to find your assets or understand what to do when you are gone. Estate planning is also about leaving a legacy. Contrary to what you may be thinking - that legacy is not only related to money and reserved for the wealthy and philanthropic - legacy is about the mark you make on those you hold most dear. It’s about defining your humanity and what you stood for. Putting your affairs in order now so your loved ones don’t have to deal with a mess later is a legacy, too. Making it clear that you loved your family is a legacy. What about health? How does your health connect with estate planning? Your health plays a significant role in shaping your preparations for the future in general, and how you structure your estate plan in particular. I want to first say that while “health” can refer to mental health, emotional health and spiritual health, and all are important, we’ll focus on physical health here. So let’s take a look at the direct link between your physical health and estate planning. You’ll come to see that by prioritizing your physical health, you can not only enjoy life with more ease, but also avoid complications in your estate planning. Longevity and Retirement Savings. Your physical health has a direct impact on your lifespan, which in turn affects how long your retirement savings need to last. If you maintain good physical health, you’re likely to live longer (yay!) and will need a more extensive plan regarding your assets, for your longer life. Healthcare Decisions. Consider the potential need for long-term care. Alzheimer's or dementia could require long-term care solutions that you may or may not choose. In your estate plan, it’s crucial to not only make sure you’re financially covered for these possibilities, but to also ensure you’ve made it clear how you want to be cared for, if you cannot make decisions for yourself. There comes a point in time at which it’s too late for you to make your wishes known, and given that you are reading this … now is the time to document what you would choose, if you could not choose. This is why you need a healthcare power of attorney or a living will in your plan. These are documents that designate the person (or people) you choose to make medical decisions on your behalf if you’re unable to do so. Your designated healthcare agent (or agents) will not only ensure that your healthcare preferences are respected but will also align your medical treatment with your personal wishes. Without these documents in place, a judge (i.e., a complete stranger) could appoint someone to act on your behalf. Maybe even someone you don’t trust or wouldn’t want making decisions for you. Or, in a worst case scenario, a judge could even appoint a professional conservator who could drain your estate financially. Disability and Its Impact. Poor health can sometimes lead to disability, affecting your ability to manage your own affairs. Including a disability clause in your estate plan ensures that your assets are managed according to your wishes, even if you’re not able to oversee them personally. A revocable living trust can be particularly useful here, as it allows your chosen person or entity to manage your affairs without the need for court intervention. Again, without a plan in place, a judge will make decisions for you, and those decisions may not be what you want. Having gone through the potential consequences of not prioritizing your physical health and its direct link to your estate planning, let’s turn to practical steps you can take now to make sure you and your family don’t have to experience any negative consequences. Practical Steps to Integrate Health and Estate Planning Unless you’re already incapacitated and can’t make decisions for yourself, know that it’s not too late to take action. It’s not too early, either. Death and incapacity don’t discriminate based on age. When you face that fact, and then plan accordingly, you can live life with more ease, more joy, and less stress. Truly. So if you haven’t planned for the future, here are some practical steps you can take now: Schedule Regular Check-Ups. It may seem obvious, but regular medical examinations are vital. They not only help in detecting illnesses early but also provide a clear picture of your health, which, as we’ve discussed above, is crucial for accurate estate planning. If you discover a new health condition, you can plan accordingly when you’ve caught it in time. If not, it could be too late to get your plan in place. Update Your Estate Plan Regularly: As your health changes, so should your estate plan. Make it a habit to review and update your plan on a regular basis or whenever there is a significant change in your health. As a Personal Family Lawyer®, I can not only help you get your initial plan in place, but with a unique process I use called Life & Legacy Planning®, I will always include a free review of your plan at least every three years. This ensures your plan works because it will be updated as your health, life and assets change over time. Without updates, your plan will fail, sending your family to court and increasing the probability of conflict. Discuss Your Plans Openly: Talk with your family about your healthcare wishes and how they relate to your estate plan. Taking this courageous, and maybe uncomfortable, step, makes a big difference when it comes to decreasing the likelihood of conflict in your family. Make sure to discuss your preferences for end-of-life care, which can create conflict in your family if you haven’t clarified your wishes. Consult A Professional Who Has Your Best Interests in Mind: I approach estate planning from a place of heart, always keeping your best interests, and by extension, your loved ones’ best interests, in mind. I not only help you to get your plan in place, but also help you keep your family out of court and conflict so your legacy is one of love and care. I can also help you navigate difficult discussions with your family about your wishes, so you can feel confident knowing you’ve done all you can to preserve the family bonds. How We Support You and Your Loved Ones As a Personal Family Lawyer® Firm, we recognize the integral connection between your physical health and your estate planning needs. Our commitment goes beyond mere legal documentation; we aim to ensure your life's work and values are preserved with dignity and clarity. By understanding the specific challenges and opportunities that arise from your health, we tailor estate plans that not only protect your assets but also your well-being and your family's future. This Men's Health Month, take a proactive step toward safeguarding your legacy and enhancing your peace of mind. Contact us to learn how our Life & Legacy Planning® process can align your health priorities with your estate planning goals. Click here to schedule a 15-minute consultation to discuss your next best steps! This article is a service of D.Rowe Co. PLLC, a Personal Family Lawyer® Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Life & Legacy Planning ® Session, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life & Legacy Planning Session. The content is sourced from Personal Family Lawyer® for use by Personal Family Lawyer firms, a source believed to be providing accurate information. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.

When your child turns 18, they’re legally considered an adult even though they have a lot more growing to do (though they may not think so!). Just like any other adult, their health and financial information is protected by privacy laws. But unlike any other adult, that’s still your child and you want to be there to support them in a crisis. Unless you’ve planned ahead you won’t be able to step in and support your child. As an estate planning attorney, I often see families caught off guard when I tell them this. Like those families, you may also assume that as a parent, you’ll always have a say in your child’s medical and financial matters. But you don’t. Under the law, you have just as much access to their medical and financial information as you do for Joe down the street (which is none). The good news is that with proper planning, you can help your newly-minted adult child navigate this transition and ensure you’re able to step in if something happens. Here I’ll share 3 strategies to help you and your child make the transition to their adulthood as easy as possible. Strategy 1: Education The first strategy for a successful transition to adulthood is education. At my firm, I start every client relationship with education. That’s because I believe that education equals empowerment, which supports you to make the right choices for yourself and your family. Young adults also need to be empowered through education. The more you can teach your child about their new financial and legal responsibilities, the more empowered they’ll be to make the right decisions. If you haven’t already started talking with them about legal and financial matters, now is the time s. Start with a kind of budgeting we call “money mapping”. Explain the importance of tracking their income and expenses, setting financial goals, and investing wisely, both now and for the future. Help them understand the basics of banking, such as how to use checking and savings accounts, the benefits of maintaining a good credit score, and assist them in setting up their own bank account if they don’t already have one. Explain how to avoid overdrafts and the significance of keeping track of their balance. Introduce them to how to access credit, and use it responsibly. Explain how credit cards work, the importance of paying off balances in full each month, when it’s okay to carry a balance, and the long-term benefits of building a positive credit history. And let’s not forget your child’s new tax obligations. Teach them how to file taxes, what documents they need, and how to understand their W-2 forms, or what it means to be a 1099. Explain the importance of keeping accurate records and how to navigate basic tax software. Health care is another critical area where your child needs education. Let your child know that you can’t make medical decisions for them and you won’t have access to their health records anymore - unless they give it to you. I’ll cover which essential documents they need in a minute, but first, let’s talk about the importance of communication in helping them document their wishes properly. Strategy 2: Encourage Communication Adulthood often involves having difficult conversations (as if I’m telling you anything you don’t know!). Two of those conversations to have with your child have to do with their healthcare and financial decisions in the event of an emergency. First off, I want to say that even thinking about your child being in an emergency medical situation is hard to think about, much less talk about. And it will probably be much harder for you than it will be for them. It’s OK. Take a deep breath. You can do this! After you’ve breathed your way to calm, have an open conversation about what your child would want to happen in various medical scenarios. If they became incapacitated, who would they want to make decisions on their behalf? Both parents or one of you first, then the other? Or do they want anyone else involved in the medical decisions, if they cannot make them on their own. Be open to the possibilities that they have other people in their life that they may want to include, and be glad they are telling you about it, if that’s the case. Do they know what a ventilator is and whether they’d want one if it became an issue? What about a feeding or hydration tube? And what about resuscitation? It’s necessary to talk about these things so your child’s wishes are honored. Who would they want to have access to them, in case of an accident or an illness? Once you know the answers to these questions, you can help your child create a health care directive and medical power of attorney. Have the same conversations about finances. Do you know which and how many financial accounts they have? If they’re in college, how will you access their account to stop tuition payments or housing payments if necessary? Will you be able to access their checking account if bills need to be paid? Your child may be reluctant to discuss these matters with you, but assure them you have no intent to violate their autonomy. You simply want to be there for them, if needed. Strategy 3: Legal Planning Once you and your child have had these difficult conversations, emphasize the need to get a legal plan in place so their wishes are documented and honored. At the least, your adult child’s legal plan should include the following documents: Health Care Proxy and Advance Directive. A health care proxy grants someone, usually you, the authority to make medical decisions on your child’s behalf if they cannot. An Advance Directive complements this by outlining their medical treatment preferences in various scenarios, ensuring their wishes are respected even when they can’t voice them. HIPAA Authorization. The HIPAA Authorization is equally important. HIPAA (Health Insurance Portability and Accountability Act) is designed to protect patient privacy, but it can also prevent you from accessing your child’s medical information without their explicit permission. By signing a HIPAA Authorization, your child can ensure that you can speak with doctors and receive updates on their condition. Living Will. A Living Will is another important document to consider. This outlines your child’s wishes regarding end-of-life care, such as whether they want to receive life-sustaining treatments. Having these preferences documented can provide clarity and guidance during difficult times, ensuring that their wishes are honored. Power of Attorney. A Power of Attorney allows your adult child to appoint someone (again, usually you) to manage their financial affairs if they are unable to do so. This can include everything from paying bills to managing bank accounts and handling investments. Without this document, you might find it difficult to step in and help when needed. It may also be important for your adult child to have a plan in place for what happens after death. If that’s the case, they need a will or trust. Reach out to me and I can educate you and your child on whether post-death planning is needed at this stage in your child’s life. Finally, life circumstances will change, so let your child know it’s important to review their documents regularly and update them as needed. Encourage your young adult to revisit their decisions periodically, especially if they experience significant life changes such as getting married, moving to a new state, or starting a new job. At my firm, constant contact is part of our process so our clients never have to remember on their own to update their plan. We do the remembering for you. Your Next Step Now that you are armed with 3 strategies for navigating your child’s transition into adulthood, your next step is to book an appointment with our firm so we can support you to have these conversations, and to get your child’s legal plan in place. Now, before you go thinking that you don’t need an attorney and can use a cheap online tool, or even AI, I encourage you to think about what’s at stake. Your child’s health and well-being. Your child’s growth. The opportunity to teach your child about how to prioritize the things that matter most. When I work with you, one of the best things I can do is to get to know your children as they become adults. Ideally, it will be me (or my firm) that they’ll turn to for guidance throughout their lifetime, and to be there for them, when you can’t be. No cheap legal plan can do that. The Support You and Your Child Need As a Personal Family Lawyer Firm, we know that navigating the transition to adulthood can be challenging, both for you and your child. Understanding the legal changes that come with turning 18 and using the 3 legal documents (and the conversations that go with them) in this article can help you provide the support and guidance your child needs. But you don’t need to navigate this transition alone. We can educate you and your child about their new legal responsibilities, support you to have the hard conversations, and help your child put a legal plan in place. Contact us to learn how our Life & Legacy Planning process supports your family to make the very best decisions about the things that matter most. Click here to schedule a 15-minute conversation! This article is a service of D.Rowe Law, a Personal Family Lawyer® Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Life & Legacy Planning Session™, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life & Legacy Planning Session™. The content is sourced from Personal Family Lawyer® for use by Personal Family Lawyer® firms, a source believed to be providing accurate information. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.