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Rob’s Mistake

Protect your assets - prepare an estate plan

Most people going through divorce don’t consider the possibility that one of the parties may die during the process. When this happens it creates chaos for the survivors. I’ve witnessed this several times during my practice, with one of the most poignant early in my career. I represented a young man with three children who rode a motorcycle to work every night. Rob worked the night shift and during the day, he packed lunches, took the children to school, and attended school functions.

He was married to a woman who wasn’t very interested in marriage or family. She stayed home at night while Rob worked and the kids slept, but she spent that time and most days romancing various friends. When they made the decision to divorce, she agreed that Rob would have custody of the kids so that she could continue her lifestyle. She also agreed to accommodate Rob’s work schedule by continuing to watch the children at night. Unfortunately, before we could finalize the divorce, Rob lost his life in a motorcycle accident on his way to work one night.

Rob was a great father but he failed to prepare an estate plan. Despite my advice that he prepare an interim estate plan during the divorce process, he chose to wait – he believed that he had plenty of time. He had not taken his wife’s name off of his life insurance. She was the sole beneficiary. He had not taken her off his retirement and pension plan. She was still the joint tenant on the real estate, the vehicles, the bank accounts, free to use and spend everything any way she pleased.

Most of us act like we’re going to live forever. We deny the truth. Statistics show that only half of married lawyers with children also have an estate plan. That’s among a population that should be most informed and knowledgeable about the need. The sad truth is that most people have not made even the most basic arrangements for the allocation of their estate.

Don’t make the kind of mistake Rob made. His wife, not his children, inherited everything. Nothing was set aside to provide for the children and she probably squandered it all as she continued the self-indulgent lifestyle that ended her marriage. Act now to ensure that your assets are protected and go to the right people.

We are here to assist and support you. We can help you set up a plan, or make any changes that need to be made to an existing plan. Please let us know how we can help.

And remember, our free Divorce Workshop is the Second Saturday of every month. The next one is Dec. 9 at 10:00AM. Call (818)348-6700 to RSVP.

Best wishes,

Ronald M. Supancic, CFLS
The Law Collaborative, APC
www.thelawcollaborative.com

Rob, His Family, and the Tree

Protect your assets - prepare an estate plan

Most people contemplating divorce don’t consider the sad reality that one of the parties may die while going through the process. When this does happen it results in chaos for the survivors. I’ve witnessed this several times during my practice, but one of the most poignant was early in my law career. I represented a young man with three children who rode a motorcycle to work every night. Rob worked the night shift as a machine technician at a local trade school. He was responsible for the necessary cleaning and repair of the machines that were used each day by the teachers and students. During the day, Rob happily packed lunches, took the children to school, and attended school functions.

He was married to a woman who wasn’t very interested in marriage or family. She was home at night while the kids were asleep, but spent that time entertaining various married boyfriends. During the day, she also had a very active social life. When the decision to divorce was made, she agreed that most of the property should be put in trust for the children, and that Rob would have physical custody. She also agreed to accommodate Rob’s work schedule by continuing to care for the children at night while they slept. But before we could finalize the divorce, Rob lost his life in a motorcycle accident on his way to work one night when he was cut off by a drunk driver and hit a tree.

Rob was a great father but he failed to prepare an estate plan. Despite my advice that he prepare an interim estate plan during the divorce process, he chose to wait – he believed that he had plenty of time. He had not taken his wife’s name off of his life insurance. She was the sole beneficiary. He had not taken her off his retirement and pension plan. She was still the joint tenant on the real estate, the vehicles, the bank accounts, free to use and spend everything any way she pleased.

Most of us act like we’re going to live forever, or like we can predict our death. We deny the truth. Statistics show that only half the lawyers who are married and have children also have an estate plan! That’s among a population that should be most informed and knowledgeable about the need. I do not know the statistics for the general public, but I know that most people have not made even the most basic arrangements for the allocation of their estate.

Don’t make the kind of mistake Rob made. His wife, not his children, inherited everything. Nothing was set aside to provide for the children and she probably squandered it all as she continued the self-indulgent lifestyle that ended her marriage. Act now to ensure that your assets are protected and go to the right people. We are here to assist and support you. We can help you set up a plan, or make any changes that need to be made to an existing plan. Please let us know how we can help.

Best wishes,

Ronald M. Supancic, CFLS

A Gift from The Law Collaborative

photo by only alice via PhotoRee

We have a Special Limited Time Offer ($500 Value) for current clients in good standing.

The 1996 Health Insurance Portability and Accountability Act (HIPAA) was designed to make health insurance portable for employees, but it also imposed strict rules for the release of private medical information.

Healthcare providers, in efforts to comply with HIPAA, regularly refuse to provide family members with critical information about the medical conditions of their loved ones. The problem is, once disabled, a person may no longer be able to grant the necessary authorization. Abusive and neglectful caregivers have been known to hide behind these rules, while loved ones are denied recourse.

To help protect our clients, The Law Collaborative is offering to prepare and provide current clients in good-standing with a complimentary Advanced Health Care Directive, Living Will, Healthcare Power of Attorney, and HIPAA Authorization. Clients will also receive a wallet card and a complimentary one-year enrollment in a service that stores these important legal documents so that they can be accessed by medical professionals anywhere in the world in case of emergency. The wallet card also lists allergies, medical conditions, and provides a toll-free number for access to these critical documents.

We care about our clients and we want them to be protected when they need it most. To take advantage of this limited time offer or for further information on how you can control your property while you’re alive, care for yourself and your loved ones if you become disabled, and give what you have to whom you want, the way you want, when you want, call us toll free at (888) 852-9961 and ask about our HIPAA offer and free estate planning consultation.

Your legacy matters – take control of it now.

*This is a limited time offer to clients with current billing accounts and may be subject to change or revocation at any time without notice.

Best wishes,
Ronald Supancic, CFLS and Robert Borsky, Esq.
Partners at The Law Collaborative, LLC

News Release

Ty Supancic, Esq. Announces Membership in WealthCounsel®

Woodland Hills, CA – August 30, 2011 – Ty Supancic, Esq. today announced that The Law Collaborative, LLC, which recently re-located to Warner Center, has become a member of WealthCounsel®, a nationwide organization of more than 2,200 estate planning attorneys. Members of WealthCounsel® believe in a comprehensive, client-centered approach to estate planning founded on the principles of professional collaboration and a commitment to excellence.

“Estate planning is an ongoing process and not merely a single legal transaction,” said Supancic. “As a member of WealthCounsel®, my firm will have access to a state-of-the-art document drafting system, a network of experienced colleagues throughout the country with whom I can collaborate, and educational resources to keep me on the cutting edge of knowledge.” Supancic stated.

Supancic noted that the majority of Americans do not have a simple will, let alone an estate plan. He stated that he has witnessed many situations where the lack of an estate plan has created unnecessary familial chaos for the client’s beneficiaries so he is particularly passionate about building awareness of the importance of thoughtful planning which includes planning for the care of children and the disposition of new technology assets previously ignored by traditional attorneys.

In addition to WealthCounsel®, Supancic is also a member of the California and Beverly Hills Bar Associations, and is admitted to practice law before the Central District Court.

About The Law Collaborative, LLC
Established in 2009, with over 100 years of combined legal experience, The Law Collaborative, LLC specializes in all areas of estate planning, including asset protection, charitable planning, and business succession planning. They also specialize in all aspects of family law and entertainment law. For more information, please visit www.thelawcollaborative.com/ or call (888) 852-9961.

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Media Contact:
Patricia Frost
818-348-6700