Blog

The Role of an Agent Under a Power of Attorney

• November 27, 2019
• Kelvin Birk
• Estate Planning

For most people, the phrase “power of attorney” means very little. Even for those educated on the subject, it is easy to forget exactly who serves what role and why. Whether you are unfamiliar with the concept or simply need of a refresher, keep reading to learn what it means to be an agent under a power of attorney. At Birk Law Firm, we regularly draft powers of attorney as part of an estate planning package of documents.  Also, we will draft only a power of attorney if that is all that you are needing at that time.

To start, it helps to understand what is being asked of an agent under a power of attorney. A person appointed to the role becomes a re [...]

Three Estate Planning Mistakes Farmers and Ranchers Make and How to Avoid Them

• November 26, 2019
• Kelvin Birk
• Estate Planning

Farming or ranching is more than a means of livelihood – it is about preserving a legacy and unique way of life.  Unfortunately, many farmers and ranchers fail to make an estate plan.  The farm or ranch that has been passed down for generations then ends up being sold and converted into non-agricultural use, cutting the legacy short and ending the family’s unique lifestyle choice.

Sadly, farmers and ranchers are not the only ones who avoid making or updating an estate plan – many others, including business owners and parents, also avoid planning, which can cut their legacy short.  Below are three common estate planning mistakes farmers and ranchers make and how to avoid [...]

What Is a Discretionary Trust?

• November 25, 2019
• Kelvin Birk
• Estate Planning

Sometimes giving assets outright to a beneficiary – such a child, a grandchild or a special needs loved one – is not the ideal method of distributing assets in an estate plan. In such a scenario, a discretionary trust can be a good estate planning tool. Below is some basic information on discretionary trusts and how they may be beneficial to your particular family’s needs.  At Birk Law Firm, we draft all types of trusts, including Discretionary Trusts, depending on each client’s particular situation.

Discretionary Trusts Explained

 A discretionary trust is a type of trust that is set up f [...]

It’s Planning Season

• October 2, 2019
• Kelvin Birk
• Estate Planning

Just as there is a planting season on the farm, for each season there is planning that you must do with your business or on the farm. In order to be successful, this planning must be done thoughtfully and in advance. Your life is no different. To properly plan for the next season in your life and the lives of your family, a well-executed estate plan is a must. Below are a few documents to consider when crafting a plan to protect yourself, your family, your business or farm, and your legacy.

Birk Law Firm is experienced with supporting farmers, ranchers, and other business owners in achieving their estate planning goals.  Call Birk Law Firm if you have [...]