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You may have heard this shocking statistic circulating lately — 70% of families lose their wealth within two generations (and 90% lose it by the third!). This may seem pretty shocking, but there are some pretty compelling reasons why the rate of wealth loss is so steep. How Do Families Lose Gener...

You have probably heard the term “Advance Medical Directive” before. You may even have heard it here, on The Tyra Law Firm blog. But, do you fully understand what's included in an Advance Medical Directive? Are you clear on why you need one now, regardless of your family structure, accumulated we...

“In a world of diminishing mystery, the unknown persists.” -Jhumpa Lahiri Every few weeks, I take a moment to reflect on the deeper meaning of my work. I do this to check in with myself and to realign my firm's mission with the needs of my clients. Whenever I do so, I think of the unknown. As an...

Hi there, Tyra Law Firm fans! Each week, I get questions in my inbox or in my client consultations about estate planning and how it works. Very often, these questions are the foundations of the blog posts and e-newsletters I write. This week, I wanted to draw particular attention to a question I ...

There are few good things about tax season. Sure, occasionally you might find yourself on the good side of a refund. Or you might get the chance to clear out your jam-packed receipt drawer. But other than that, tax season is pretty much a drag. On top of everything else going on in your life, you...

A question that I often get is about how to prepare for putting together an estate plan. I know that the thought of “getting organized” can be daunting. Take a look at this simple checklist I put together. Remember, you do not need to gather every document on this list before starting on your est...

In my years of working as an attorney, I've seen every type of client imaginable. Truth be told, there isn't much that can surprise me anymore. On the contrary, I typically see the same basic personality types again and again in my estate planning practice. That's not to say that these clients ar...

As our parents age, it can be painful to realize that they are no longer able to do everything for themselves. Whether they need some help driving, performing household chores, or caring for their finances, it is important to recognize when the elders in your life need help. Of course, recognizin...

As a parent of a young child, you know that your number one priority is your child's safety and security. On a daily basis, you enact this priority a hundred different ways: from checking the car seat, to cutting up their food, to putting child locks on all the cabinet doors. All of these small a...

Here we are. The last few weeks of 2019, and the new decade is right around the corner. Do you have anything new and exciting coming up in 2020? Often, the start of a new year brings with it some big changes. What about changes in your work life? Are you starting a new job? Getting a promotion? T...

At The Tyra Law Firm, we care deeply about our clients and their families. From our perspective, estate planning is all about love, and we are committed to helping our clients show their love by providing for and protecting those they cherish. But, like most things, there are two sides to every c...

‘Tis the season! Yes, the season for holiday cheer. But it's also engagement season! As the planning begins for your big day in the new year, remember to include estate planning on your list. From the moment you “kiss the bride (or groom),” break the glass, or bind your hands together, your relat...

Traveling the world is an exhilarating adventure, and it can be especially magical around the holidays. Planning for a trip across the globe is fun and exciting, but thinking about estate planning while plotting the course of your big adventure can be decidedly less exciting. Although estate plan...

In today's world, there are all kinds of reasons why a committed couple may decide not to get married. Maybe you have been married before, and it's not a ritual you are eager to repeat. Maybe you and your partner have been together for years, and it's just something that hasn't happened yet. Mayb...

What are you Thankful for this Year? Thanksgiving is the first spark of the holiday season, and before we head into the merriment, joy, and yes, sometimes stress, we are given the opportunity to pause and consider what we are thankful for. What are you most thankful for? The loved ones in your li...

As a responsible parent, business owner, homeowner, or caregiver, you wrote a will. You have a Power of Attorney. You even have a complete Advance Medical Directive. So, you're done, right? Sure, those documents were completed fifteen years ago, but nothing's really changed since then, has it? At...

In the United States, 21.5 million adults (aged 12 or older) battle with some kind of substance abuse disorder. The opioid epidemic is on the rise, and addiction affects many families nationwide. Decades of research show that addiction is a chronic illness, and many in recovery have one or more r...

In this blog post, we are going to dive into some uncomfortable topics. Before we begin, I want you to know two things: 1) You have already taken the first step. By clicking on this blog post, or by starting to consider guardianship issues for your minor children, you are already on your way to p...

For many, your IRA is the largest asset in your estate. Yes, even larger than your home or your investments. Why? Because you worked hard to save for retirement. You have dutifully contributed to your IRA over the years knowing that, not only is your IRA your safety net in retirement, but it is a...

A dementia diagnosis is scary. You and your loved ones may be feeling overwhelmed and anxious about what lies ahead. The period after receiving a dementia diagnosis is time best spent with family and friends. However, you may also be worried about what lies ahead for your loved ones and for yours...

You may have already noticed the changes: your college kid is home for the summer with a new perspective, new friends, new interests, and maybe even a new sense of being an “adult.” He or she is taking on more responsibility and is demanding to be treated accordingly. This can be a thrilling — al...

It's the middle of summer, and families all across the Washington region are looking for ways to beat the heat. Does your family love to escape at the beach? What about a cool mountain retreat? Maybe you like to take a week every summer to visit friends or family up north. Wherever you travel, we...

Everyone, regardless of age, status, material wealth, education, or notoriety, will leave a legacy behind. Even if we never think about our legacy, never take any actions to prepare for after our passing, each of us will still pass and leave our imprint on the world. Think about it: what if today...

We often talk about estate planning as a gift to our loved ones. By creating a plan in advance, we help our friends and family members manage the stressful and painful time just after our passing when they need to step up to get our “affairs in order.” We talk about estate planning as a kindness ...