This blog is written by Michael D. Whipple, managing partner at the Whipple Law Group. While its content is not intended as legal advice and should never be considered a replacement for actual, legal counsel, the information presented here is intended to provide helpful insight into the terms and procedures related to estate planning.
Please feel free to contact Mr. Whipple or any of the Whipple Law Group dedicated attorneys, at 509-869-3223, for further help or information.
What is an NFT? An NFT is the acronym for Non-Fungible Tokes. A NFT is something that is one-of-a-kind. It is unique but unlike, say a work of art, you cannot touch it. It is actually a digital asset. JPG files, GIF files, and MP3 files all might be examples of NFTs. Why is owning…
What is Crypto? Cryptocurrency is, “a digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority.” Decentralized, meaning that it’s an organization controlled by several offices or authorities, rather than one single office of authority. How are Cryptocurrencies different from typical assets when…
Most attorneys and law firms have their own approaches to legal representation. At our firm, we prefer an approach where we: First, engage in a fact-finding mission with our client in order to get the ‘lay of the land;’ Second, identify our clients’ goals, objectives, and primary concerns; Third, provide information and education to our…
When considering trusts, it is helpful to keep in mind three central “characters.” These include the Grantor, the Trustee and the Beneficiary (or Beneficiaries). The Grantor is the person or persons who originally set up the trust. They set the terms of the trust and provide for its funding. The Trustee is the designated person…
Trusts Trust are very powerful and effective devices with regards to estate planning. Today, trusts are not just used by the very wealthy. People with a wide variety of income levels use them as estate planning tools too. Trust are very different from a Will. What is a Trust? A trust is often its own…
Simply put, Health Care Directive, also called Advanced Directives or Living Will, provide instructions to your family and medical providers regarding what end-of life medical care treatment you want and do not want when this time approaches. Our health care directives (HCD), at The Whipple Law Group, allow you to customize your choices regarding treatment…
What is a Durable Power of Attorney document? The difference between a durable power of attorney (‘DPOA’) and a “non-durable” power of attorney (‘POA’) document is fairly simple. If the POA is durable, it means that it will continue being effective in the event you become incapacitated. A “nondurable,” powers of attorney usually ends in…
At The Whipple Law Group, we draft separate Powers of Attorney (POA) documents for our clients. For instance, we draft a Financial Decision-Making POA, which specifies what decisions and actions the designated Powers of Attorney may take with regard to your finances. Our client decides whether this power is broad and inclusive or narrowly defined.…
When you are engaged in estate planning, the topic of Power of Attorney (POA) is likely to come up. At The Whipple Law Group, we include POA documents and Health Care Directives in our flat estate planning price. We do this because of the importance these documents hold and the vital role they can play…
Review Your Will Regularly You should review your will every two to five years, or whenever your circumstances change. Changes that warrant revising your estate plan might include: Marriage Divorce Having a child Having children move out of the house Acquiring or inheriting a large asset Selling a large asset A change in the tax…