The turn into a new year gives plenty of people time to reflect back on the goals they accomplished in the previous year and to outline a plan for the future. Even if you have not yet established your new year resolutions or forgot to include financial and planning considerations, there’s still plenty of time… Read More »
Blog Posts Page 3
Recently Moved to California from Another State? Update Your Plans
If you’ve already gone through the process of establishing a will, trust and similar estate planning documents, you might assume that you’re off hook for additional planning requirements. But there are many different reasons why you might need to revisit your estate plan and ensure that yours has been appropriately updated based on your individual… Read More »
What Can I Expect During the Distribution Phase of My Financial Life?
All the hard work from your saving and investing should ideally pay off in the third of your three financial stages of life. If you’ve successfully laid out a plan in advance, this third phase should be one in which you enjoy retirement and are able to put together a plan for where your assets… Read More »
What Can I Expect During the Preservation Stage of My Life?
During the course of your adult life, you will encounter a few different phases. As you shift into each of these phases, your overall focus will change and you’ll need to adapt your expectations in line with those concerns present at each stage. The three various phases of your financial life are, accumulation, preservation and… Read More »
What Should You Expect During the Accumulation Phase of Your Life?
It’s said that there are three different financial phases of your life known as accumulation, preservation and distribution. In this short blog series, we will explore what you can anticipate during each of these phases. The accumulation financial phase of your life happens when a person earns the money that he or she will need… Read More »
Can I Revoke a Power of Attorney?
Many people are curious about whether a power of attorney document ever terminates or whether you need to go through the process of hiring a lawyer to remove a person that you no longer want to have this power, this person could be choosing to refuse to give up the power of attorney. There are… Read More »
What You Need to Know About Stock Transfers in Your Estate Plan
One of the greatest benefits of investing is that if done right and scheduled over a long enough period of time, you can acquire assets that will benefit other family members, such as your children, down the line. In order to effectively pass on these resources though, your investment portfolio must be incorporated as part… Read More »
Does a Will Ever Expire?
Many people have questions about what it takes to put together a will. It’s a mistake to assume that generating a will is a once and done kind of activity and this is because you may need to update your will over the course of your life. It is a misconception that a will expires…. Read More »
Are You Hurting Your Estate Assets by Helping Adult Children?
As a parent, you might end up helping your kids financially longer than you expected. Being an adult child today means that there is a good chance that you get some help from your older parents. This can have negative implications for the aging parents’ estate, however, if appropriate techniques have not been used. A… Read More »
Key Takeaways from Prince’s Estate
Unlike other celebrities like Michael Jackson, the estate assets for pop star Prince were all valued accurately and the necessary taxes were paid and there were not any further audits from the IRS. However, Prince made things much more difficult for his loved ones by failing to leave behind a will. There was no clear… Read More »
Do I Really Need to Have Estate Planning Documents Naming My Spouse?
Having various estate planning documents established enables a person to step in and make decisions on your behalf if you are unable to do so. Given that you could become incapacitated or could pass away suddenly, it is important to ensure that all of your estate planning documents are in line. Far too many people… Read More »
Relationships with Age Differences Require Advanced Retirement Planning
Age gap relationships require careful consideration. These refer to planning for retirement for a couple that might have between 10 and 30 years difference in their ages. Since no two couples are alike, retirement and estate planning requires a team of professionals who is familiar with your situation. The majority of married couples have minor… Read More »
The New IRS Estate Tax Exemptions Could Affect You In 2019
The IRS recently released the details surrounding any changes in the gift or estate tax exemptions. While the gift tax will stay the same, enabling you to pass on up to $15,000 per year per person without triggering any additional taxes, there has been an increase in estate tax limits. The estate tax exemption has… Read More »
What Should I Expect When Meeting with an Estate Planning Attorney?
If you’ve already scheduled an appointment with an estate planning lawyer, you’ve taken the first step towards protecting yourself and your loved ones for many years to come. However, getting prepared for this meeting can be confusing, particularly if this is the first time you’re sitting down with a lawyer to discuss your individual wishes…. Read More »
What Happens When Improper Estate Planning Leads to Family Conflict?
Estate planning issues can affect families of all shapes and sizes. When you pass away without a will, this can leave behind a tangled mess for your loved ones. This is known as dying intestate. State laws then determine who receives all of your assets and the vast majority of these possessions will pass through… Read More »
Does Your Teenager Need Estate Planning?
It can be difficult to contemplate that the first step after someone graduating from high school is estate planning, but in the next 6 months you might be preparing to finish your child’s college applications, take them on college visits and to begin to purchase the items that they’ll need to support themselves in college…. Read More »
Estate and Financial Planning Tips for Single Women
There are over 2 million homes across the United States that are headed by a single woman who makes more than $100,000 in a year. Whether these women are widowed, divorced or never got married, one thing they can benefit from is the insight of an experienced estate and financial planning advisor. The most important… Read More »
What You Need to Know About Dealing with an Uncooperative Trustee
If you are the beneficiary of a trust that has been set up by another person and you are experiencing challenges with the trustee or the individual who has been appointed to control distributions from that trust, this can lead to unnecessary family conflict, delays and other problems. As a beneficiary, however, it’s common to… Read More »
Can’t a Child Just Be Added to My Bank Account?
All too often, an estate planning attorney will come forward and have to deal with problems in the probate aspect of a case because of mistakes that were made in the estate planning process. All too often, for example, some estate planning lawyers can learn after the death of a client that the client had… Read More »
Why Does a Will Witness Need to Be Disinterested?
When signing your will, it is likely that you have scheduled a consultation with an experienced estate planning attorney, sat down and discussed what you intend to pass on to others. You can make minor mistakes that could turn out to be big problems in the management of your will after you pass away, and… Read More »