On Tuesday July 1, 2014 Bradford Miller Law posted a blog titled "Don't make this mistake!" which was based on an article that Jeanie Ahn, of Yahoo Finance reported on June 27, 2014 titled " Man's mistake cost his children $400,000 of an IRA inheritance." In that article Jeanie Ahn stated:
"After losing a loved one, fighting with family over money compounds the emotional toll. To keep this from happening, follow these five tips from certified estate planner Jean-Ann Dorrell:
1) Set aside time at least once a year to update your beneficiary forms. Your beneficiary forms will override your will 99% of the time so it’s important to keep these forms up-to-date and make sure your will and your designated beneficiaries on accounts don't contradict each other. You should fill out a new form if you’ve had a birth, death, marriage, or divorce in your family. If you can't find your beneficiary designation form, ask the financial institution for a new one. If you choose to fill out this form online, make sure to print a hard copy for your files.
2) When filling out a beneficiary form, don't forget to designate percentages next to the names of your beneficiaries. You can also write “in equal shares” if you want the assets to be distributed equally. Also know that adding “per stirpes,” Latin for “bloodline,” after your beneficiaries' names and the percentages, will ensure that it will go to your beneficiaries' descendants.
3) If the institution where your money is held changes its name or merges with another bank, fill out a new form. Forms with old institution names may not be valid and the banks won’t go out of their way to tell you.
4) Keep hard copies of your beneficiary forms, including your “payable on death” forms and your “transfer on death” forms in your emergency file. If all of these forms are in your account online, keep hard copies on hand because computer systems change and the forms might be hard to track down, especially if the bank has merged or changed names.
5) Consider hiring a certified estate planner who is licensed in your state. Many financial planners and attorneys who do not specialize in estate planning can make mistakes when filling out forms because of state-specific rules and laws, or just plain lack of experience.
When is the last time you've updated your financial forms?"
Bradford Miller Law, P.C.has been practicing law in Estate Planning for several years. We can prepare all your estate planning documents and keep them updated. We will offer advice, and keep your estate plan current with the laws governing estate planning. And, you have the satisfaction of knowing that your affairs are in order, per your wishes. Visit our website for helpful information regarding Estate Planning and give us a call at 312-238-9298 for a FREE 15-minute consultation.
Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law and Estate Planning
134 N. LaSalle Street, Suite 1040
Chicago, Il 60602
312-238-9298
http://www.bradfordmillerlaw.com
Offering free legal representation to homeowners seeking a short sale
Key words: Chicago short sale attorney, Chicago landlord tenant law attorney, Chicago estate planning attorney, Estate Planning Lawyer, Chicago real estate attorney, Chicago real estate lawyer, Chicago building code violations, Chicago eviction attorney, Chicago Leases, Chicago real estate attorney fees. This is intended to be advertising. Please consult with an attorney before acting on any information given here.
Tuesday, July 8, 2014
Thursday, July 3, 2014
Accreditation with the Better Business Bureau
Bradford Miller Law, P.C. has been an accredited business member of the Better Business Bureau since June 1, 2013, maintaining an A rating.
What this means is that the BBB determined that Bradford Miller Law, P.C. meets their accreditation standards, which includes a commitment to make a good faith effort to resolve any consumer complaints. We are proud of the fact that to date, we have not received any complaints.
Bradford Miller Law, P.C. focuses on real estate law, landlord tenant law, building code violations and estate planning. We are committed to providing you with expert legal support and approach every client with a focus on integrity, advocacy, and understanding. At www.bradfordmillerlaw.com you will find information about our firm and can review the BBB accreditation by simply clicking on the icon in the upper left corner.
Our office is located on LaSalle Street in the heart of downtown Chicago, near many major title companies' offices. We accomplish as much as possible for our clients by telephone and electronic communications to minimize demands on their valuable time. To discuss your pending or potential real estate transaction, your ongoing legal needs as a property owner or landlord, or your estate planning concerns, call us at 312-238-9298 for a free 15-minute consultation.
Our website also has testimonials from our clients and professional peers. I encourage you to read them to learn more about our approach.
Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning
134 N. LaSalle, Suite 1040
Chicago, IL 60602
312-238-9298
http://www.bradfordmillerlaw.com
Offering free legal representation to homeowners seeking a short sale
Key words: Chicago short sale attorney, Chicago landlord tenant law attorney, Chicago estate planning attorney, Estate Planning Lawyer, Chicago leases, Chicago real estate attorney, Chicago real estate lawyer, Chicago real estate closings, Chicago building code violations, short sale attorney Chicago. This is intended to be advertising. Please consult with an attorney before acting on any information given here.
What this means is that the BBB determined that Bradford Miller Law, P.C. meets their accreditation standards, which includes a commitment to make a good faith effort to resolve any consumer complaints. We are proud of the fact that to date, we have not received any complaints.
Bradford Miller Law, P.C. focuses on real estate law, landlord tenant law, building code violations and estate planning. We are committed to providing you with expert legal support and approach every client with a focus on integrity, advocacy, and understanding. At www.bradfordmillerlaw.com you will find information about our firm and can review the BBB accreditation by simply clicking on the icon in the upper left corner.
Our office is located on LaSalle Street in the heart of downtown Chicago, near many major title companies' offices. We accomplish as much as possible for our clients by telephone and electronic communications to minimize demands on their valuable time. To discuss your pending or potential real estate transaction, your ongoing legal needs as a property owner or landlord, or your estate planning concerns, call us at 312-238-9298 for a free 15-minute consultation.
Our website also has testimonials from our clients and professional peers. I encourage you to read them to learn more about our approach.
Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning
134 N. LaSalle, Suite 1040
Chicago, IL 60602
312-238-9298
http://www.bradfordmillerlaw.com
Offering free legal representation to homeowners seeking a short sale
Key words: Chicago short sale attorney, Chicago landlord tenant law attorney, Chicago estate planning attorney, Estate Planning Lawyer, Chicago leases, Chicago real estate attorney, Chicago real estate lawyer, Chicago real estate closings, Chicago building code violations, short sale attorney Chicago. This is intended to be advertising. Please consult with an attorney before acting on any information given here.
Tuesday, July 1, 2014
Part 1: Don't make this mistake!
On June 27, 2014, Jeanie Ahn, of Yahoo Finance reported an article titled " Man's mistake cost his children $400,000 of an IRA inheritance." In part, she reported the following story:
Mr. Smith worked with his financial advisers and attorneys to make sure his children received the balance of his retirement funds when he died. However, his IRA beneficiary form was filled out incorrectly. Instead of specifically listing the names of his children along with the percentages designated to each heir, Smith wrote: “To be distributed pursuant to my last will and testament.”
His failure to complete the form correctly invalidated the document, making his surviving spouse the beneficiary by default. “The children fought in court to recover the money, but the court awarded the $400,000 in the IRA to their father’s wife, who had married him two months before he died.
Many are unaware that long-forgotten beneficiary forms can override wills and undermine their loved ones' intentions. Beneficiary forms are meant to be a straightforward method for heirs to bypass the probate process and receive funds in a timely manner. But sometimes account holders forget they have filled out these forms and fail to update them with major life changes.
Your estate is governed separately from your accounts with beneficiary designations, which include retirement accounts, life insurance policies, bank accounts, certificates of deposit, stocks, annuity contracts, bonds, and mutual funds. If your last will and testament designates one person as the beneficiary and your IRA designates someone else, the IRA will outrank stipulations in your will.
Unfortunately, there are no automatic reminders to update these forms on a regular basis – the account holder has the responsibility to keep them current and valid."
Bradford Miller Law, P.C. can prepare all your estate planning documents and keep them updated. We will offer advice, and keep your estate plan current with the laws governing estate planning. And, you have the satisfaction of knowing that your affairs are in order, per your wishes. Visit our website for helpful information regarding Estate Planning and give us a call at 312-238-9298 for a FREE 15-minute consultation.
Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law and Estate Planning
134 N. LaSalle Street, Suite 1040
Chicago, Il 60602
312-238-9298
http://www.bradfordmillerlaw.com
Offering free legal representation to homeowners seeking a short sale
Key words: Chicago short sale attorney, Chicago landlord tenant law attorney, Chicago estate planning attorney, Estate Planning Lawyer, Chicago real estate attorney, Chicago real estate lawyer, Chicago building code violations, Chicago eviction attorney, Chicago Leases, Chicago real estate attorney fees. This is intended to be advertising. Please consult with an attorney before acting on any information given here.
Mr. Smith worked with his financial advisers and attorneys to make sure his children received the balance of his retirement funds when he died. However, his IRA beneficiary form was filled out incorrectly. Instead of specifically listing the names of his children along with the percentages designated to each heir, Smith wrote: “To be distributed pursuant to my last will and testament.”
His failure to complete the form correctly invalidated the document, making his surviving spouse the beneficiary by default. “The children fought in court to recover the money, but the court awarded the $400,000 in the IRA to their father’s wife, who had married him two months before he died.
Many are unaware that long-forgotten beneficiary forms can override wills and undermine their loved ones' intentions. Beneficiary forms are meant to be a straightforward method for heirs to bypass the probate process and receive funds in a timely manner. But sometimes account holders forget they have filled out these forms and fail to update them with major life changes.
Your estate is governed separately from your accounts with beneficiary designations, which include retirement accounts, life insurance policies, bank accounts, certificates of deposit, stocks, annuity contracts, bonds, and mutual funds. If your last will and testament designates one person as the beneficiary and your IRA designates someone else, the IRA will outrank stipulations in your will.
Unfortunately, there are no automatic reminders to update these forms on a regular basis – the account holder has the responsibility to keep them current and valid."
Bradford Miller Law, P.C. can prepare all your estate planning documents and keep them updated. We will offer advice, and keep your estate plan current with the laws governing estate planning. And, you have the satisfaction of knowing that your affairs are in order, per your wishes. Visit our website for helpful information regarding Estate Planning and give us a call at 312-238-9298 for a FREE 15-minute consultation.
Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law and Estate Planning
134 N. LaSalle Street, Suite 1040
Chicago, Il 60602
312-238-9298
http://www.bradfordmillerlaw.com
Offering free legal representation to homeowners seeking a short sale
Key words: Chicago short sale attorney, Chicago landlord tenant law attorney, Chicago estate planning attorney, Estate Planning Lawyer, Chicago real estate attorney, Chicago real estate lawyer, Chicago building code violations, Chicago eviction attorney, Chicago Leases, Chicago real estate attorney fees. This is intended to be advertising. Please consult with an attorney before acting on any information given here.
Thursday, June 26, 2014
Are you ready?
To consult a Cook County Wills and Trusts Lawyer? Bradford Miller Law, located in downtown Chicago can help you with all your Estate Planning needs.
The peace of mind attainable through basic estate planning is within easy reach. At Bradford Miller Law, P.C., we strive to make the process as direct and time-efficient as we can while addressing each client's individual goals. By filling out a basic questionnaire, we can help make face-to-face meetings straightforward and productive.
At at www.bradfordmillerlaw.com you will find helpful information regarding Estate Planning. If you wish, fill out the Estate Planning Questionnaire under "Forms" to help us better understand your specific situation. Upon receipt, we will review your information and provide you with a free 15-minute consultation. Or, simply contact our office at (312) 238-9298 for your 15-minute free consultation.
Bradford Miller Law can counsel you from a legal standpoint so you can make an educated decision about your estate. Give us a call so we can help you prepare all the legal documents suited to your personal situation.
Posted by Bradford Miller Law, P.C.
134 N. LaSalle Street, Suite 1040
Chicago, IL 60602
312-238-9298
http://www.bradfordmillerlaw.com
Offering free legal representation to homeowners seeking a short sale
Key words: Chicago short sale attorney, Chicago residential real estate attorney, Chicago landlord tenant law attorney, Chicago eviction attorney, Chicago estate planning attorney, Estate Planning Lawyer, Chicago real estate attorney, Chicago real estate lawyer, Chicago building code violations, Chicago real estate attorney fees. This is intended to be advertising. Please consult with an attorney before acting on any information given here.
For a free consultation to discuss your estate planning goals and how we can help you achieve them, call 877-863-4149 toll free or email our legal team anytime.
The peace of mind attainable through basic estate planning is within easy reach. At Bradford Miller Law, P.C., we strive to make the process as direct and time-efficient as we can while addressing each client's individual goals. By filling out a basic questionnaire, we can help make face-to-face meetings straightforward and productive.
At at www.bradfordmillerlaw.com you will find helpful information regarding Estate Planning. If you wish, fill out the Estate Planning Questionnaire under "Forms" to help us better understand your specific situation. Upon receipt, we will review your information and provide you with a free 15-minute consultation. Or, simply contact our office at (312) 238-9298 for your 15-minute free consultation.
Bradford Miller Law can counsel you from a legal standpoint so you can make an educated decision about your estate. Give us a call so we can help you prepare all the legal documents suited to your personal situation.
Posted by Bradford Miller Law, P.C.
134 N. LaSalle Street, Suite 1040
Chicago, IL 60602
312-238-9298
http://www.bradfordmillerlaw.com
Offering free legal representation to homeowners seeking a short sale
Key words: Chicago short sale attorney, Chicago residential real estate attorney, Chicago landlord tenant law attorney, Chicago eviction attorney, Chicago estate planning attorney, Estate Planning Lawyer, Chicago real estate attorney, Chicago real estate lawyer, Chicago building code violations, Chicago real estate attorney fees. This is intended to be advertising. Please consult with an attorney before acting on any information given here.
For a free consultation to discuss your estate planning goals and how we can help you achieve them, call 877-863-4149 toll free or email our legal team anytime.
Tuesday, June 24, 2014
Unmarried couples need to plan their estates
Unmarried couples must be especially careful to plan their estates properly or risk leaving the surviving member without the assets that the deceased member intended to give. Wills providing for the surviving person along with correct planning of your assets can assure that your desires are met upon death. Without proper legal documentation, blood relatives can receive and make health and financial decisions excluding the other member of the unmarried couple.
Bradford Miller Law, P.C. can prepare all your estate planning documents and keep them updated. We will offer advice, and keep your estate plan current with the laws governing estate planning. And, you have the satisfaction of knowing that your affairs are in order, per your wishes. Visit our website for helpful information regarding Estate Planning and give us a call at 312-238-9298 for a FREE 15-minute consultation.
Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law and Estate Planning
134 N. LaSalle Street, Suite 1040
Chicago, Il 60602
312-238-9298
http://www.bradfordmillerlaw.com
Offering free legal representation to homeowners seeking a short sale
Key words: Chicago short sale attorney, Chicago landlord tenant law attorney, Chicago estate planning attorney, Estate Planning Lawyer, Chicago real estate attorney, Chicago real estate lawyer, Chicago building code violations, Chicago eviction attorney, Chicago Leases, Chicago real estate attorney fees. This is intended to be advertising. Please consult with an attorney before acting on any information given here.
Bradford Miller Law, P.C. can prepare all your estate planning documents and keep them updated. We will offer advice, and keep your estate plan current with the laws governing estate planning. And, you have the satisfaction of knowing that your affairs are in order, per your wishes. Visit our website for helpful information regarding Estate Planning and give us a call at 312-238-9298 for a FREE 15-minute consultation.
Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law and Estate Planning
134 N. LaSalle Street, Suite 1040
Chicago, Il 60602
312-238-9298
http://www.bradfordmillerlaw.com
Offering free legal representation to homeowners seeking a short sale
Key words: Chicago short sale attorney, Chicago landlord tenant law attorney, Chicago estate planning attorney, Estate Planning Lawyer, Chicago real estate attorney, Chicago real estate lawyer, Chicago building code violations, Chicago eviction attorney, Chicago Leases, Chicago real estate attorney fees. This is intended to be advertising. Please consult with an attorney before acting on any information given here.
Subscribe to:
Posts (Atom)
