In the following article we will briefly define what probate is, why probate occurs and how to avoid it. Proper estate planning will provide alternatives to the probate process and save your heirs a lot of headache and stress (and potentially money). The key is to be aware of your alternatives to probate and plan […] Read more
Estate planning
Any estate planning checklist should include the creation of a valid Will. The following article is taken from the perspective of an estate planning attorney and the various objections he encounters from individuals who do not see the need for a will. WILLS: WHY YOU THINK YOU DON’T NEED THEM AND WHY YOU REALLY DO […] Read more
It goes without saying that for parents with special needs children, estate planning becomes an enormous priority. If an adult child is receiving need based disability benefits such as SSI, special needs planning will become even more challenging. This sets the stage to require a skillful and insightful special needs planning effort that can involves […] Read more
High net worth means different things to different people. To an average household, high net worth may be viewed as someone with a few million stashed away. For wealthier households, the perception may be that only the top 1% with assets in the tens of millions are really defined as high net worth (HNW). When […] Read more
When most people think about estate planning, they think about setting up legal documents like wills, trusts and durable powers of attorney. However, there is another important part of the estate planning process that concerns the role of life insurance for estate planning which uses the right life insurance policy to accomplish specific goals of […] Read more
The federal estate tax, also known as the inheritance tax, or by opponents as the death tax, has recently been dramatically altered by the Republican tax overhaul known as the 2017 Tax Cuts and Jobs Act. Estate Planning and the Federal Inheritance Tax Federal estate tax DEFINITION: a tax that is levied upon one’s estate upon their […] Read more
If you have loved ones, perhaps you’re asking whether a living trust may be right for you? This article will help you understand what is a living trust. Armed with some knowledge, we will then review our top 7 benefits when using a living trust for your estate planning, so you can make the right decisions, […] Read more
To begin to understand revocable vs. irrevocable trusts you first need to know first what a trust is AND how it works. This article will review some trust basics and then will dive into the pros and cons of revocable vs. irrevocable trusts for you or your favorite clients. A Trust is An Agreement A trust is an […] Read more
In the legal world, it is common for science and technology to speed ahead of what is defined in the law books. This leaves lawyers, courts and judges sometimes scratching their heads to address concerns and issues that were simply not an issue ten years ago. One such area concerns the evolving need to consider estate planning […] Read more
Here is a simple way to start your own estate planning checklist. Make an list of your assets and liabilities. Everything you own and everything you owe. This is your estate. Next, make a list of all the assets in your estate and where you want those assets to go upon your death. Your plan for where […] Read more
