As 2022 ends, it may be time to take a fresh look at your financial and legal documents to ensure that your affairs are in order and that you are ending the year on a solid foundation. This is especially important if you've experienced any notable life or financial changes, such as the purchase or sale of real estate, the birth or adoption of a child, marriage, divorce, or retirement.

With the start of a new year, it's the perfect time to ensure your bases are covered especially when it comes to your adult children. When your children turn 18 they are legal adults. They might not act like adults all of the time, and you may still be supporting them financially, but in the eyes of the law, they are indeed adults.

It's impossible to predict what the new year has in store for us. However, if you follow some (or all) of these tips, 2023 should bring you greater peace of mind.

 “What's the worst thing that can happen if I get sick or pass away without an estate plan in place?” This is a common question we receive, especially from those in close-knit families who believe that their kids (or other loved ones) will peacefully sort everything out when they pass away without needing any additional legal documents or guardrails in place.

It is a daunting task to prepare for your child to go to college. Now that the enrollment deposit has been paid, the dorm application is complete, and you've purchased their first official college sweatshirt, you can breathe - right? Not necessarily. College is an exciting and emotional time for both parents and students. As parents, we are sometimes so consumed with raising our children, that we tend to see them as just that – children. However, the truth is, in the eyes of the law, the apron strings are cut the moment they turn 18. 

For generations, the children in your family have learned to swim by jumping off of the dock of your family's vacation home. It's a rite of passage for each grandchild to learn how to bait a hook from grandpa while fireflies flicker in the summer heat. The legacy of a vacation home is the pinnacle of the American Dream. Many people work their entire lives to afford a home in their dream destination. While you dream of passing down this home (and the memories) for generations to come, have you thought of how to protect this family legacy? 

Burt Blee, along with other national, state and community organizations, are leading a massive effort to highlight the importance of advance healthcare decision-making—an effort that has culminated in the formal designation of April 16 as National Healthcare Decisions Day (NHDD). As a participating organization, Burt Blee is sharing information and tools for the public to talk about their wishes with family, friends, and healthcare providers.

The statistics are rather alarming. In 2005, 50 percent of Americans had a will; today, only 32 percent of us have one. Meanwhile, only one in three Americans over the age of 55 has a durable power of attorney, and a mere 41 percent of this same demographic has advance health care directives.

The Health Insurance Portability and Accountability Act (HIPAA) established national standards to protect the privacy of personal medical information. The HIPAA Privacy Rule sets limits and conditions on the way such information can be used and disclosed in the absence of patient authorization.

Perhaps you have heard about trusts but wonder exactly what they are and what they can help you accomplish. Simply put, a trust is an agreement outlining how assets will be managed and held for the benefit of another person. There are many types of trusts, capable of addressing a wide range of concerns and accomplishing a number of important goals. Let's begin our discussion by looking at the elements and terminology shared by most trusts.

Charitable giving allows you to assist the people and organizations that have come to mean the most to you over the course of your life. It represents a thoughtful expression of your values and can ensure your legacy for generations to come. If done properly, it can also be an excellent way to significantly lower taxes, so that the greatest possible amount of your gift is available for the recipients of your generosity, and at the same time, more of your hard-earned wealth is preserved for you and your loved ones.