Attorney John F. Koenig - Anchor Law, Life & Legacy Planning, LLC

  Understanding how accounts are titled and who has access to them isn't just about convenience—it's about ensuring your assets transfer smoothly to your loved ones while protecting them from potential risks. But how should you go about this? Read more… 2025.03.03 Common Estate Planning Questions Part 1 of 2 - On How to Handle Your Assets When it comes to estate planning, I get many questions about many topics. One of the most common questions I hear concerns account ownership and asset management. Understanding how accounts are titled and who has access to them isn't just about convenience—it's about ensuring your assets transfer smoothly to your loved ones while protecting them from potential risks.  In this first installment of a two-part series, I’ll answer the most common questions about asset ownership and management. I’ll also outline ways in which you can make things as easy for your family after your death. So let’s dive in, beginning with a question ab...

  Actress Shannen Doherty's death last year highlights how critical timing can be when it comes to estate planning during divorce. Her last-minute divorce likely saved her estate millions and prevented years of legal battles. Read more... 2025.02.24 Estate Planning During Divorce: Lessons from Shannen Doherty's Legacy The July 2024 passing of beloved Gen X actress Shannen Doherty offers important lessons about estate planning during divorce. Known for her iconic roles in "Beverly Hills, 90210," “Heathers” and "Charmed," Doherty not only faced a courageous and public battle with breast cancer but also raced against time to finalize her divorce and protect her estate. Her story shows why proper timing and planning are crucial when navigating divorce - one of life's most challenging transitions. The Power of Timing According to reports , just one day before her death, Doherty filed for an uncontested divorce from her husband Kurt Iswarienko, who s...

  4 Estate Planning Myths That Put Your Loved Ones at Risk 2025.02.17   Surveys conducted in 2024 by Caring.com and Ameriprise Financial revealed a troubling trend: Americans are falling behind on estate planning. The Caring.com survey  revealed that only 32% of Americans have a will - a 6% decline from 2023. The Ameriprise survey  found that 52% of couples lack estate plans. These statistics highlight a dangerous disconnect between understanding the importance of estate planning and taking action. Let's examine these misconceptions and their potentially devastating consequences. Myth 1: "I don't have enough assets to need an estate plan."  This dangerously narrow thinking ignores that estate planning isn't just about financial wealth. It's about doing the right thing for the people you love so you don’t leave a mess and ensuring your wishes for your care are considered if you cannot decide for yourself due to an accident or illness. If you haven’t c...

  Being named as an executor is often seen as an honor, but many don't realize the complex responsibilities and potential family dynamics involved. The role requires more than you may expect, from immediate financial obligations to long-term asset management. Read more... 2025.02.14 The Unexpected Challenges of Being an Estate Executor When someone asks you to be the executor of their estate, it might seem like a straightforward responsibility - distribute assets according to their will and handle some paperwork. However, as many executors discover, the role involves far more complexity, time, and emotional labor than expected. Understanding these challenges now can help you better prepare, whether you're creating your estate plan or considering serving as an estate executor.  But first, a note about terminology. If someone creates a will, the term used for the person who handles the estate is “executor/personal representative.” If someone creates a trust, the person w...

Want to give your loved ones a truly meaningful gift this Valentine's Day? Estate planning might not seem romantic, but it's one of the most profound expressions of love you can offer. Read more... 2025.02.12 The Valentine's Gift That Truly Matters As Valentine's Day approaches, you might be thinking about flowers, chocolates, or a romantic dinner. And hey, those are all great (who doesn’t love a little chocolate?). But what if I told you there's a way to show your love that lasts far longer than roses and holds far more meaning than any box of truffles? I'm talking about estate planning—specifically, Life & Legacy Planning—the ultimate love letter to the people you care about most. A Different Kind of Love Letter Love isn't just about grand gestures or perfectly curated date nights. The deepest expressions of love are often found in the quiet, intentional actions we take to care for and protect the people we cherish. And while estate planning might not ...

  Being named as an executor might seem like an honor, but many people don't realize the enormous responsibility and potential headaches that come with the role. Learn what's really involved in administering someone's estate and how proper planning can save your loved ones from unnecessary stress and conflict. Read more... 2025.02.08 The Hidden Truth About Settling a Loved One’s Estate When someone names you as their executor, it might feel like an honor – a sign that they trust you to handle their final affairs. However, what many people don't realize is that being an executor can turn into a demanding part-time (or full-time) job that lasts months or even years, often during a time when you're also grieving the loss of a loved one. The responsibilities can be overwhelming, from tracking down assets to dealing with creditors to managing family dynamics. Then, there are legal obligations and potential personal liability if things aren't handled correctly. ...

  Putting your home in a trust is a smart estate planning move, but it can create unexpected insurance complications if not handled correctly. Learn how to protect one of your most valuable assets by properly aligning your homeowner's insurance with your trust. Read more... 2025.02.05 Trusts & Homeowner’s Insurance: What You Need to Know So You Don’t Get a Claim Denied In the Future When you create an estate plan that includes a revocable living trust, you've taken an essential step toward protecting your home and family from the cost of court. However, many people don't realize that placing their home in a trust requires updating their homeowner's insurance policy. Without this crucial step, you could face a devastating scenario: paying out of pocket for significant damage because your insurance claim was denied. Let's explore how to ensure your trust and insurance work together to protect your most valuable asset. The Hidden Risk of Trust Ownership When you tr...

  For whatever reason, we just can’t resist a good, juicy celebrity story. So for the next few weeks, we’re going to look at the lives of 4 celebrities and how they prepared for the inevitable (or didn’t!). This week we're turning the spotlight on the King of Pop himself, Michael Jackson. Read more… Celebrity Estate Plans Series Part 1 of 4: Michael Jackson  What is it about celebrities that always draws us in? For whatever reason, we just can’t resist a good, juicy celebrity story. Maybe it’s because we can relate in some way, or maybe we feel like we can’t relate and that’s what makes celebrities interesting. Their lives always seem attractive but somehow… just out of reach.  So for the next few weeks, we’re going to look at the lives of 4 celebrities and see what we can learn from their stories. I think you’ll be surprised to learn that you have more in common with these folks than you thought (even if you don’t also have your own private jet). This week, we’re...