Category Archives: Uncategorized

Crash proof your portfolio and estate

Posted on by under Uncategorized

Interesting Wall Street Journal article that counter intuitively argues that the top 1% of income earners are often the most crash prone in their portfolios. Whatever your income level, portfolio composition, or family situation, take some time this holiday season to contemplate your estate plan and being sure you are comfortable with the level of risk you have assumed in your portfolio and assets. A good estate plan will be flexible enough to handle changes in your income, your assets and portfolio, and family situation.

(c) 2011, Stephen M. Johnson, Esq.

The Debt Crisis Lesson

Posted on by under Dynasty Trusts, Estate Planning, Kansas, Probate, Special Needs Trusts, Trusts, Uncategorized, Wills

As the United States Government’s spending continues to reach stratospheric levels and outpace tax revenues by over $1 trillion per year, and push against the statutory debt ceiling (the amount the U.S. Treasury is legally allowed to borrow to pay the Government’s bills), there is an important lesson for estate planners and families setting up trusts to provide for future generations.

The debt crisis lesson is be sure you have enough money in your trust to provide for the unexpected. Uniform Trust Code sec. 414(a) provides that a trust may be terminated by the court after the trustee provides notice to the beneficiaries if the amount held in trust is less than $50,000 (the UTC’s suggested amount, which adopting states are free to change), because maintaining a trust with a smaller amount would be uneconomical. My home state of Kansas, which was the first state to adopt the Uniform Trust Code in 2003, allows a court to terminate a trust containing less than $100,000. K.S.A. 58a-414(a).

Is your trust properly funded? Does it contain enough money to provide for you and your family if the unexpected occurs, or a rainy day arrives? Do yourself and your family a favor – be sure your trust is properly funded.

(c) 2011, Stephen M. Johnson, Esq. All rights reserved.

A Gift of Love and Security for Valentine’s Day

Posted on by under Uncategorized

Americans love celebrating the people they love and we do it on Valentine’s Day, February 14, every year.  We give or receive flowers, chocolates, a nice dinner, and other gifts or shows of affection and love for our family, friends, and sweethearts.

But have you given your loved ones the gift of security this Valentine’s Day? Do you have a will, a living will, and powers of attorney in place? Do your spouse and children know what to do if tragedy strikes? If you haven’t taken care of your affairs and your estate, make an appointment to see an estate planning attorney and get these important issues resolved soon, for the sake of your loved ones.

(c) 2011, Stephen M. Johnson. All Rights Reserved.