L Law Firm

A PLAN FOR PROTECTING YOUR MOST VALUABLE ASSET: YOUR CHILDREN

Mon, 27 Jul 2026 22:24:35 GMT

If you have young children, chances are that your summer activities include some careful planning to keep them safe from harm. Unfortunately, even with proper precautions in place, accidents do happen and not just to children. Have you planned for what will happen to your children if you are the one involved in a tragic accident?

If you don’t put the proper legal protections in place and the unthinkable happens to you, any number of things could happen to your children, and none of them are good:

Your children could be put in the care of Child Protective Services, even temporarily. You never want strangers determining your children’s fate.
Your children could be put in the custody of someone you would never want to have them by a judge who does not know you or your family dynamics.
Your family could get into a fight about the custody of your children.
Your estate can be thrown into probate, with a portion of your assets going to court costs and fees — money that your children could use in the future.
If you have significant assets, those could go to your children once they turn 18 in one lump sum that they will likely not be prepared to handle properly.

Since there are so many bad things that can happen to your children should something bad happen to you, we have developed the Kids Protection Plan® for families with young children. This plan includes a comprehensive set of instructions and legal documents that will ensure your kids will be raised by someone you choose and that your assets are protected for their well-being.

This article is a service of Golden Heart Law Personal Family Lawyer®. We do not 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 Family Wealth 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 Family Wealth Planning Session.

HOW TO CORRECTLY NAME BENEFICIARIES FOR YOUR IRAs

Mon, 27 Jul 2026 21:52:13 GMT

As a Personal Family Lawyer®, we see many of the same estate planning mistakes made time and again by people who either fail to plan properly or who use “do-it-yourself” estate planning websites or forms in an effort to save money.

Without professional guidance, this can cause more problems for your heirs and end up depleting estate assets by far more than what you could potentially “save” by doing it yourself online.

A qualified estate planning attorney or Personal Family Lawyer® can help you avoid these 10 common estate planning mistakes:

Failure to leave any written documentation of your assets, including a list of your online accounts and passwords
Failure to let family members know where to find important estate planning documents
Failure to name a guardian for minor children or choosing a guardian who lives far away without planning for temporary, local guardianship (solved with a comprehensive Kids Protection Plan®)
Failure to name recipients for your personal possessions
Failure to designate beneficiaries for retirement and other financial accounts
Failure to name secondary beneficiaries
Failure to name alternative trustees or executors
Failure to properly fund or title assets to any trusts you have established
Failure to update your estate plan as life circumstances change
Failure to create an estate plan of any kind and instead leaving it to the court system to decide how your assets will be distributed

This article is a service of Golden Heart Law, Personal Family Lawyer®. We do not 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 Family Wealth 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 Family Wealth Planning Session.

Wed, 24 Jun 2026 21:35:55 GMT

Does a Will make sense?

There are a number of essential things a last will and testament can do for you, such as distribute family heirlooms and name a guardian for minor children, but there are some equally important things a will won’t do:

DIMINISH ESTATE TAXES

A will won’t help you decrease your estate taxes, but a Personal Family Lawyer® can advise you on what kind of trust instruments can accomplish this for you.

PROVIDE LONG-TERM CARE

If you want to provide for someone with special needs or a person with long-term care needs, you will need to establish a trust or invest in a life insurance policy.

DISTRIBUTE SOME TYPES OF PROPERTY

To distribute assets from a retirement or investment account or the proceeds of a life insurance policy, you must execute the proper beneficiary designation forms, which supersede instructions in a will. If you own property jointly with someone else, your will won’t allow you to distribute that property.

PROVIDE FOR PETS

Since pets cannot legally own property, you will either need to establish a pet trust or designate a caretaker and provide funds for the care of your pet after you are gone.

This article is a service of Golden Heart Law. We do not 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 Family Wealth 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 Family Wealth Planning Session.

The Differences Between Wills & Trusts

Mon, 15 Jun 2026 17:58:33 GMT

DO YOU NEED A WLL OR A TRUST?

THE KEY DIFFERENCES BETWEEN WILLS AND TRUSTS

When discussing estate planning, a will is what most people think of first. Indeed, wills have been the most popular method for passing on assets to heirs for hundreds of years. But wills aren’t your only option. And if you rely on a will alone to pass on what matters, you’re guaranteeing your family must go to court when you die.

In contrast, other estate planning vehicles, such as trusts, which used to be available only to the uber wealthy, are now being used by those of all income levels and asset values to keep their loved ones out of the court process.

But determining whether a will or a trust is best for you depends entirely on your personal circumstances. And the fact that estate planning has changed so much makes choosing the right tool for the job even more complex.

The best way for you to determine the truly right solution for your family is to meet with us as your Personal Family Lawyer® for a Estate Planning Session. During that process, we’ll take you through an analysis of your personal assets, what’s most important to you, and what will happen for your loved ones when you become incapacitated or die. From there, you can make the right choice for the people you love.

In the meantime, here are some key distinctions between wills and trusts you should be aware of.

WHEN THEY TAKE EFFECT

A will only goes into effect when you die, while a trust takes effect as soon as it’s signed and your assets are transferred into the name of the trust. To this end, a will directs who will receive your property at your death, and a trust specifies how your property will be distributed before your death, at your death, or at a specified time after death. This is what keeps your family out of court in the event of your incapacity or death.

Because a will only goes into effect when you die, it offers no protection if you become incapacitated and are no longer able to make decisions about your financial and healthcare needs. If you do become incapacitated, your family will have to petition the court to appoint a conservator or guardian to handle your affairs, which can be costly, time consuming, and stressful.

With a trust, however, you can include provisions that appoint someone of your choosing—not the court’s—to handle your medical and financial decisions if you’re unable to. This keeps your family out of court, which can be particularly vital during emergencies, when decisions need to be made quickly.

THE PROPERTY THEY COVER

A will covers any property solely owned in your name. A will does not cover property co-owned by you with others listed as joint tenants, nor does your will cover assets that pass directly to a beneficiary by contract, such as life insurance.

Trusts, on the other hand, cover property that has been transferred, or “funded,” to the trust or where the trust is the named beneficiary of an account or policy. That said, if an asset hasn’t been properly funded to the trust, it won’t be covered, so it’s critical to work with us as your Personal Family Lawyer® to ensure the trust is properly funded.

Unfortunately, many lawyers and law firms set up trusts, but don’t then ensure your assets are properly re-titled or beneficiary designated, and the trust doesn’t work when your family needs it. We have systems in place to ensure that transferring assets to your trust and making sure they are properly owned at the time of your incapacity or death happens with ease and convenience.

HOW THEY’RE ADMINISTERED

In order for assets in a will to be transferred to a beneficiary, the will must pass through the court process called probate. The court oversees the will’s administration in probate, ensuring your property is distributed according to your wishes, with automatic supervision to handle any disputes.

Because probate is a public proceeding, your will becomes part of the public record upon your death, allowing everyone to see the contents of your estate, who your beneficiaries are, and what they’ll receive.

Unlike wills, trusts don’t require your family to go through probate, which can save both time and money. And since the trust doesn’t pass through court, all of its contents remain private.

HOW MUCH THEY COST

Wills and trusts do differ in cost—not only when they’re created, but also when they’re used. The average will-based is less than an average trust-based plan. So at least on the front end, wills are far less expensive than trusts.

However, wills must go through probate, where attorney fees and court costs can be quite hefty, especially if the will is contested. Given this, the total cost of executing the will through probate can run as high as $10,000 or more.

Even though a trust may cost more upfront to create than a will, the total costs once probate is factored in can actually make a trust the less expensive option in the long run.

During our Estate Planning Session, we’ll compare the costs of will-based planning and trust-based planning with you, so you know exactly what you want and why, as well as the total costs and benefits over the long-term.

As your Personal Family Lawyer®, we offer expert advice on wills, trusts, and numerous other estate planning vehicles. Using proprietary systems, such as our Family Wealth Inventory and Assessment™ and Estate Planning Session, we’ll carefully analyze your assets—both tangible and intangible—to help you come up with an estate planning solution that offers maximum protection for your family’s particular situation and budget. Contact us today to get started.

This article is a service of Golden Heart Law, LLC Personal Family Lawyer®. We do not 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 an Estate 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 Family Wealth Planning Session and mention this article to find out how to get this $500 session at no charge.

Create a Stronger Blended Family Through Estate Planning

Fri, 05 Jun 2026 21:13:16 GMT

TAKING THE TIME TO PLAN FOR YOUR FAMILY'S FUTURE WILL PAY DIVIDENDS IN THEIR FUTURE

Blended families were once considered "non-traditional" families, but today, blended families are becoming just as common as non-blended families. Currently, 52% of married couples (or unmarried couples who live together) have a step-kin relationship of some kind, and 4 in 10 new marriages involve remarriage.

If you're part of a blended family, you've probably recognized the extra layer of complexity that comes with planning for your family's needs and accommodating the many relationships that exist between stepparents, stepchildren, and stepsiblings. Topics that might be straightforward for a traditional family, such as where to spend the holidays or who gets the old family car, can become more complicated.

Feelings tend to be more sensitive, as the person in a step role may feel self-conscious about their place in the family. At the same time, one parent's children may struggle with the addition of a new stepparent, stepsibling, or half-sibling when a parent remarries.

In a blended family, you work hard to navigate these complexities to keep the family unified and happy. But what many families don't realize is that Alaska's default laws for what happens if you become incapacitated or die were not designed with modern blended families in mind. Without proper planning, your loved ones could face court involvement, confusion, and conflict at an already difficult time.

What Alaska Law Says About Blended Families

Alaska law provides default rules for what happens if you become incapacitated or die without a comprehensive estate plan. While these laws work reasonably well for some families, they often produce unintended results for blended families.

In Alaska, if you die without a valid will or trust, your assets are distributed according to Alaska's intestacy laws. Depending on your family circumstances, your surviving spouse may inherit all of your estate or only a portion of it. If you have children from a prior relationship, your spouse and your descendants may share your estate according to a statutory formula.

Many people assume their spouse will automatically inherit everything and then pass assets to the children later. Others assume their spouse and children will each receive a particular share. Unfortunately, Alaska's default laws may not match either assumption.

The situation becomes even more complicated when stepchildren are involved. Even if you consider a stepchild to be your child in every meaningful way, Alaska law generally does not grant inheritance rights to stepchildren unless they have been legally adopted. As a result, a beloved stepchild could receive nothing from your estate if you do not specifically include them in your estate planning documents.

As you can see, Alaska's default laws may not produce the outcome you want for the people you love most, especially in a blended family. That's why creating a thoughtful estate plan and communicating your wishes to your loved ones is so important.

Avoid Conflict in Your Blended Family Through Open Communication

Estate planning is often viewed as a private matter, but it doesn't have to be. In many cases, especially for blended families, open conversations about your wishes can help prevent misunderstandings, hurt feelings, and even future litigation.

Like all families, the way you plan for your blended family will depend on your family dynamics, your loved ones' circumstances, and your personal values regarding inheritance and legacy.

Maybe you have both biological children and stepchildren and want all of them to inherit equally. Maybe you want to provide additional support for a younger child while older children are already financially independent. Maybe there is a stepparent, stepchild, or stepsibling you would like to leave a meaningful heirloom. Whatever your wishes may be, Alaska law generally does not provide inheritance rights for individuals solely because of a step relationship. If you want someone to inherit from you, you need to put that plan in writing.

You don't need to share every detail of your will or trust. Instead, consider discussing the goals behind your plan. Explaining your intentions can help family members feel included and reduce the likelihood that they will create expectations that differ from your actual wishes.

Most importantly, let the people in your life know that you love and value them. Regardless of how they became your family, your legacy includes far more than money or possessions. It includes your values, your stories, and the relationships you've built over a lifetime.

Create More Than a Plan, Create a Family Legacy

To ensure your wishes are honored and your loved ones are protected, it's essential to create a comprehensive estate plan that reflects your family's unique circumstances. At Golden Heart Law, LLC we understand the unique challenges blended families face. We help families create plans that not only transfer assets efficiently but also minimize the risk of conflict and uncertainty for future generations.

An effective estate plan is about more than legal documents. It is an opportunity to leave behind clarity, guidance, and a lasting legacy for the people you love. Rather than leaving your family to navigate court proceedings and uncertainty, you can leave them a roadmap that reflects your values and protects the relationships that matter most. If you have a blended family and want to understand how Alaska law would affect your loved ones if something happened to you, contact Golden Heart Law, LLC to schedule a Family Wealth Planning Session. During the session, we'll take the time to understand your family's unique circumstances, explain what would happen under Alaska law if you became incapacitated or passed away, and help you make informed decisions about the future.

Together, we can create a plan that protects the people you love and preserves the legacy you want to leave behind.

Click this link info@goldenheartlaw.com to schedule your session today.

This article is a service of Golden Heart Law, LLC, 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 Family Wealth 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 Family Wealth Planning Session.

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.