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

  1-6-25 With a new presidential administration onboarding in just a few weeks, significant changes coming to estate tax exemptions, and interest rates in flux, you may be wondering how to protect your assets in the face of uncertainty. Read more… Estate Planning in Times of Change: Part 1 of 2 With a new presidential administration onboarding, the estate planning landscape is shifting beneath our feet. If you've been waiting for the "right time" to create or update your estate plan, there’s truly no time like the present, which presents both opportunities and urgencies that demand attention. With anticipated changes on the horizon and favorable conditions that won't last forever, understanding your options has never been more critical.  In this two-part series, we’ll explore what we know for certain, what remains unclear, and most importantly - what you can do about it. In the next article, we’ll look at strategies for protecting loved ones who may be especially vuln...

    Families with unique circumstances require special attention in estate planning, particularly in times of legal uncertainty. Understanding how to protect LGBTQIA+ families and those with children who have special needs is crucial for their long-term security. Read more… Estate Planning in Times of Change: Part 2 of 2 In Part 1 of this series, we explored general estate planning considerations given today's changing landscape, especially related to taxes, interest rates, and asset protection. Now, let's focus on how to protect families with unique planning needs, including LGBTQIA+ families and those with children who have special needs.  In this time of political transition, comprehensive estate planning becomes crucial for these families, who may face changes to their legal rights and protections. Recent political developments have heightened concerns about potential changes to LGBTQIA+ rights, healthcare access, and educational protections. While we can't pr...

  2025.01.03 Five Essential Steps to Protect Your Loved Ones in 2025 You know that uneasy feeling when you think about what everyone you love would do, if (and when) something happens to you? That nagging voice reminding you that you still haven't created a will or trust or updated the estate plan you do have?  As we enter 2025, it's time to stop pushing those thoughts aside and take action to protect the people you love most. Many people avoid estate planning because they think it will be complicated, expensive, too time-consuming, or emotionally challenging. But the truth is, not having a plan, or having an out-of-date plan, is far more costly – financially,  emotionally, and time-wise – for the people you love.  Let's take a look at five things you can do right now to create lasting peace of mind. Step 1: Get Financially Organized One of the biggest challenges people face after losing a loved one is trying to piece together their financial life. Where ...

  Common Estate Planning Questions (Part 1 of 2): How to Handle Your Assets When it comes to estate planning, there are many questions about many topics. The most common questions I hear as an attorney are concerns about 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 this series, we’ll look at the most common questions about asset ownership and management, and outline ways in which you can make things easy for your family after your death. So, let’s dive in, beginning with a question about joint assets. Q: What's the difference between joint ownership and transfer-on-death designation? A: Joint ownership means both parties have full access to and ownership of a specific account or piece of real estate while living. When one owner dies, the survivi...