DR. MEL'S MESSAGE - From my novels to my other projects, no telling what you will read. This is the only place you will get to read about how I developed a screenplay into a novel and what is the driving force. I will talk about many things from films to books to acting to producing. It really will depend on where my mind takes me. I hope you will join me on this journey.
Today's BOOK OF THE DAY by Taylor Phillip Willingham, J.D., M.S., is a very important book that we all need to read. Let me tell you why. First, no one wants to think about dying. But, what if, you did and you didn't leave a will or have a trust. What would happen to your property, savings, retirement? In some states, all of it goes to the state and not your heirs. It is extremely important that you learn all the information you can about wills and trusts before it is too late. I have two perfect examples. As most of you know, my mother passed away and my sisters and I are in the process of executing her will. My mom made sure she was clear and specific of which heirs received what and therefore there is no issue. I love my mother for that. On the other hand, one of my best friend's mother passed and didn't leave a will. Boy oh boy the difficulty my friend is having with everyone coming out of the woodwork making a claim to the estate. One has to wonder, the what if she had? Please don't do that to your loved ones. Learn everything you can about a will and a trust so that you can make the best decision for your estate before it is too late. Personally, I am extremely grateful to Willingham for writing "Do I Need a Will or a Trust?" because of the profound and eye-opening information contained in it. Yes, I've read it and I highly endorse it. Get your copy today on Amazon. Start planning now.
Reading this book may not be your idea of fun. Allow me to give you a quick summary before you decide to continue. The cover of this book asks a question I receive all the time, “Do I need a will or a trust?” I’ve learned that rewording a question can be just as valuable as answering it. A better question is “Do I need a trust?” Everyone needs a will, no exceptions. In fact, in the 12th and 13th centuries, the Catholic Church considered it a sin not to create a will, a fact you might want to remember when you put it off again. When considering whether you should create a trust, consider the following concepts:1.Blended Family Protection, 2.Protect your minor children,3.Avoid probate, 4.Protect your estate from creditors,5.Advance tax planning, 6.Protect your spouse from your children, 7.Protect your children from your spouse, 8.Assist disabled people, 9.Protect against addiction, 10.Protect against a spendthrift, 11.Protect your privacy, 12.Offer multi-generational benefits, 13.Professional management of property, 14.Protect your assets from yourself, 15.Grant trust protector powers, 16. Long Term Care Protection, and 17. Protecting Interest in Land.
Taylor Willingham is an experienced estate planning and probate attorney located in McKinney, Texas. He is the founder of The Willingham Law Firm, PC, and creator of Posterity Planning. Our firm focuses exclusively on probate, elder law, and estate planning to assist its clients with their testamentary and incapacity planning. A significant part of incapacity planning is assisting a client with Medicaid planning and helping veterans apply for aid and attendance.
Prior to forming the Willingham Law Firm, Mr. Taylor Willingham worked for Tombs & Maxwell, PLLC in Lubbock, Texas, where he worked as an estate planning and probate law clerk for the firm. In 2009, Mr. Willingham joined Davis & Associates focusing on international estate planning and business formation. He helped international clients invest in the United States and protect their assets.
Mr. Willingham enjoys creating a legacy for people to be remembered. Not only does Mr. Willingham focus on the transfer of one’s estate, but also on preserving assets for their loved ones. Posterity planning is the process of protecting one's assets for their posterity.
Throughout his time in practice, he has been recognized by a number of awards and associations:
Graduate of the Elder Law College Voted Best Attorney in McKinney & Allen in 2015 by Living Magazine
Avvo Rated Member of the American Bar Association Member of the State Bar of Texas Alumni Association Utah State University Super Lawyers Association 2019 and 2020