Estate Planning, Probate and Living Trusts Information Center for Salt Lake City Utah, Jones Waldo

“Happy to 102″

Randall Holmgren, Estate Planning Attorney — Fri, 11 Nov 2011 23:44:21 +0000

I’m reading “Happy to 102″ by Kathy and James Johnson, and Lily Sarafan. They are senior-care industry advocates in Palo Alto, CA. The Johnsons hold PhDs and Kathy Johnson is a Certified Geriatric Care Manager. The Census Bureau notes that within 50 years there will be one million Americans age 102 or older. THAT’S US! No longer can we plan on living to 75, 80 or 85. Say the authors, we need “to plan” our current lifestyle so that we will enjoy health and happiness as we approach the century-mark and older. Diet, exercise, sociability, and sense of purpose make the difference not only in how long we live but in how happily we live. I’m particularly noting their experiences with what it takes to delay or escape Alzheimer’s and other chronic diseases. I’m all for that! Stay tuned as I launch my new blog series “Happy to 102.”

Pet Trusts Gaining in Popularity

Randall Holmgren, Estate Planning Attorney — Mon, 03 Oct 2011 19:45:28 +0000

When people think of a pet Trust for their pet, they might imagine Leona Helmsley’s pet Maltese named Trouble drinking Perrier from a crystal bowl in a lavish Manhattan penthouse. However, you don’t have to be rich and eccentric to set up a Pet Trust. Pet Trusts are most commonly set up by caring individuals who just want to make sure that their non-human family member is taken care of in the event of their own death or disability.

If that event does occur what will happen to man’s best friend, your cozy cuddle buddy, the pet you can’t live without, but since you’re dead you’ll kinda have to? You plan for your human family, leaving them money and a trust painstakingly managed by Guardians, Trustees, and Executors. Your furry and feathered family members deserve consideration, too! Remember, without advanced planning, your pets may face the same awful fate that awaits so many other orphaned pets.

Contact an estate planning attorney who focuses in this area today to set up a Pet Trust for your special friend. Also to make a smooth transition for your pets newly appointed guardian click here and find out more about VPI pet insurance. You will sleep better knowing that they will continue purring or waging their tail even if you are no longer able to care for them.

VPI Pet Insurance

Founded by veterinarians to help pets, VPI is the nation’s oldest and largest provider of pet health insurance. Plans for dogs, cats, birds and exotic pets!

Follow them here on twitter.

Is Utah Next for Devastating Natural Disaster?

Randall Holmgren, Estate Planning Attorney — Thu, 01 Sep 2011 18:08:56 +0000

We may not be facing a hurricane any time soon, but the bizarre earthquake that hit the east coast two weeks ago should have Utahans thinking about preparedness. In fact, according to the U.S. Geological Survey (USGS) National Seismic Hazard Map, the entire state of Utah ranks above the 16^th percentile of earthquake hazard levels. The map displays probability levels for earthquake ground motions across the United States that are applied in seismic provisions of building codes, insurance rate structures, risk assessments, and other public policy. Click here for the map published by UCGS. So, it really isn’t a matter of if, but when Utah will suffer a potentially-dangerous quake.

With the recent news of flooding, property damage, business loss and even death, you might be asking yourself if this could happen to you. What would you do if your business was forced to close, a family member died or your house was lost? Preparedness is the key to mitigating loss. Whether you are dealing with food storage, business succession or your will, having a solid plan is the key to truly surviving a disaster. For more information about how to prepare for an earthquake, click here to visit the USGS site . For information about protecting your assets and business, visit holmgrenestateplanning.com.

Randy Holmgren Published in Living Well Magazine

Randall Holmgren, Estate Planning Attorney — Thu, 25 Aug 2011 16:28:47 +0000

I recently had the opportunity to write an article for Living Well magazine, a publication dedication to the health and wellness of individuals 60+. The article on financial abuse of the elderly is in the summer 2011 issue and can be seen by clicking here. Enjoy.

At-Home Care For Aging Americans

Randall Holmgren, Estate Planning Attorney — Wed, 03 Aug 2011 20:38:22 +0000

In 2002, my father was old and feeble, and he lived alone. I was faced with the prospect of having him live in an assisted-living facility to help him with meals, laundry, personal hygiene, transportation — and other needs. I DID NOT KNOW about “at-home” care providers. My father did not want to go to an assisted-living facility, but I told him that was his only choice — and he did not like it. He passed away within weeks, and I’ve wondered if I hastened his death with my insistence that he live in a facility. Since then, I have learned about the at-home-care industry that enables older people to have the benefits of an assisted-living facility while continuing to live in their own home, in their own neighborhood, close to people and things they are familiar and comfortable with. One of the better “at-home” care providers in America is HomeCareAssistance.com. HCA is a national company. It locates qualified caregivers for clients around the country. For example, if you live in Salt Lake City but your aged parent lives in Phoenix or San Diego, HCA will instantly put you in touch with caregivers who can assist your parent locally. I hope you find this information useful. Randy

Study Examines Financial Abuse of the Elderly

Randall Holmgren, Estate Planning Attorney — Fri, 17 Jun 2011 00:58:04 +0000

According to the following report, financial abuse of the elderly is on the rise in the U.S. The key findings of the report are extremely troubling and sad. However, this type of abuse is PREVENTABLE. Adjustments to a Living Trust can significantly minimize the risk of financial abuse of the elderly. If you know people (parents or adult children) who ought to be thinking about this, please let them know about this report.

NCPEA, in partnership with the MetLife Mature Market Institute and the Center for Gerontology at Virginia Tech, has released an study that examines the depths of financial exploitation against the elderly in the United States. Titled “Crimes of Occasion, Desperation, and Predation Against America’s Elders,” the study is a expanded follow-up to a groundbreaking study in 2009 named “Broken Trust: Elders, Family, and Finances.” This new study widens the scope of the previous study to match the growing problem of financial abuse against the elderly.

To read the full report, click here:

http://tinyurl.com/44hej5f

People Are Asking Me . . .

Randall Holmgren, Estate Planning Attorney — Tue, 04 Jan 2011 04:26:29 +0000

. . . “Now that the government has increased the estate-tax exemption to $5 million, do we still need a Living Trust?” The answer depends on what you want to happen to your estate (house, savings, life insurance money, retirement accounts, investments) if you die unexpectedly.

A mainstream Living Trust can still provide:

Protection for some (or possibly all) assets in the event of a lawsuit
Safeguards so that children/grandchildren do not inherit too much, too soon
Incentives so that a child/grandchild will more fully appreciate the inheritance you leave buying “earning” the right to receive it
Protection so that the inheritance doesn’t get tangled up in the child’s/grandchild’s Divorce, Lawsuit, or Creditor Claims
Provisions to keep the inheritance of a “special needs” child/grandchild from making him/her ineligible for government benefits such as Social Security disability benefits and Medicaid
Protection so that a child/grandchild will not lose his (her) inheritance if he (she) develops gambling or substance abuse addictions
Tax planning should the government suddenly take away the $5 million estate-tax exemption it gave you in December

In short, there are a lot of reasons for families and individuals to utilize Living Trusts — as well as other types of estate-planning tools. With the busy holidays behind us, this could be a good time for you to consult with your estate-planning attorney to make sure that all of the things you want are covered in your current estate-planning documents.

Asking Someone to Raise Your Children if you Die

Randall Holmgren, Estate Planning Attorney — Fri, 15 Oct 2010 22:58:12 +0000

Just released, LIFE AS WE KNOW IT www.youtube.com/watch?v=_TXMVOjloos stars Katherine Heigl and Josh Duhamel as an unmarried couple legally appointed to become legal guardians of a baby — if its parents die. Well, the parents do die, so the unmarried couple takes over the legal responsibility of raising the baby to adulthood (about 18 years). I’ve seen the trailer (but not the movie) and it looks both fun … and also thought provoking. Most people with minor children have never had their attorney prepare a Will to designate the “legal guardian” for the children if the parents die unexpectedly. That’s one of the many things I do in my estate-planning practice. A good legal decision requires some careful thought and counsel. I’ve done this for hundreds. If you want to ask me any questions, give me a call. (801) 534-7228 (direct line). RANDY.

Still Throwing Away Your AARP Magazine?

Randall Holmgren, Estate Planning Attorney — Sun, 30 May 2010 00:46:45 +0000

I have been throwing mine away since I became a card-carrying AARP member 5 years ago (age 50). Every month I put it in the dumpster (or recycling bin … if I remember … hey, I’m trying). Perhaps my subconscious thought “if you read it, you’ll age faster.” The human mind can think up some bizarre reasons for doing/not doing things. Last night I had a little “relax” time (when’s the last time I had that?), so I took a chance and opened the recent issue of AARP The Magazine and decided to skim through it.

What did I see? A lot of interesting information for the over-50 gang. I noticed that a lot of celebs have aged right along with me — Beaver’s brother on Leave it to Beaver, Tony Dow, is Holy Cow, 65! Actor Sean Penn and actress Valerie Bertinelli (TV’s One Day at a Time) are 50. Laura Bush is 63. Ringo Starr is 70, YIKES! That was comforting; I’m not the only one getting older.

I read a very interesting article about how our memory changes with age. I mean, we all know it does, but the article explained the “how”.

Anyway, I determined that AARP The Magazine can be a comfort to me and can notify me of things that the mainstream media isn’t telling me. It may become a valued friend.

Randy Holmgren

Don’t Read This If You Don’t Have a Pet

Randall Holmgren, Estate Planning Attorney — Fri, 21 May 2010 20:57:53 +0000

Pets are an important part of life for the majority of Utahns and Americans. One of my clients refers to her dogs as “my children.” Pet owners are devoting more and more time, concern and money to the care and well-being of their pets. I have many clients ask me if their Will or Trust can be designed to include directions for the care of their pet(s) and how that care will be paid for. I’m now including “Pet Provisions” in Living Trusts and Wills that I prepare. The general themes are:

Who will care for my pet(s) when I am deceased or unable to provide care myself (because of mental or physical disability)?
If I want to appoint a caregiver (successor) to act in place of me, how do I do that?
Will the successor caregiver provide an acceptable level of care, and carry out my wishes? How can I be sure?
Will the successor caregiver be able to make “end of life” decisions for my pet(s)? Will my wishes be followed?
What expenses will the successor caregiver incur (food, grooming, medicine, veterinarian fees, kennel-care, licensing, and more)? Can my Will or Trust designate certain funds to cover these expenses?

If you would like to know more about the legal answers to these questions, please contact me. I’ll discuss these issues with you on a complimentary (no charge) basis). Also, for a Free Report on this subject, go to my website http://www.estateplanning-utah.com and look for “To My Dog Lucky, I Leave $10,000.”

While you’re at it, if you have a dog check out “Camp Bow-Wow” — a day and overnight camp for boarding dogs. This is a business that provides your dog with exceptional care and provides you with a peaceful feeling that all is well. Go to my website at http://www.estateplanning-utah.com/links.htm for more information. This is the direct link.

The website for Camp Bow-Wow is http://www.campbowwow.com/us/ut/southsaltlake/.

Randy Holmgren