There are many different considerations to a comprehensive retirement plan, but do you know the most important retirement planning question? Every retirement plan’s goal is to ensure that you have enough cash flow and income to last you for the remainder of your life, so you need to have a general idea of your overall… Read More »
Blog Posts Page 5
Infusing Values into Your Estate and Financial Planning Practice
Is the pursuit of your goals based on your individual values? Those values should be based on your financial and estate planning needs. During the fast pace of traditional life, most people don’t take the time to sort out what is most important to them, which means that in the event of a sudden incapacitating… Read More »
Whether You Own a Great Deal or a Little, You Need an Estate Plan
It’s a common misconception that you don’t need the support of an estate plan or an estate planning lawyer if you don’t own many assets. However, whether you own a little or a lot, you still need an estate plan and you can save your family a great deal of aggravation and grief by putting… Read More »
Legislators Consider Issues of Elder Financial Abuse
A recent study found that elder abuse affects millions of people in the United States every year to the tune of nearly $3 billion. The financial exploitation of senior Americans is a concern for adult children as well. The government recently passed the Senior Safe Act in May 2018 as part of a banking reform… Read More »
Top Reasons to Consider Using A Living Trust
Have you contemplated the benefits of using a living trust in the past? Many people are under the false impression that a living trust can accomplish everything. While it’s not true that a living trust will be the only estate planning document that you need or that it will accomplish every single one of your… Read More »
Step 3 of End of Life Planning: Be Aware of the Tax Burden
Now is the time to start thinking about how you can leave money behind to your heirs. One of the easiest ways to do this with tax advantages is through a Roth IRA. Brokerage accounts can also be beneficial since capital gains taxes would likely be eliminated due to the step up in basis from… Read More »
End of Life Planning Tips: Part Two
If you have recently received a serious medical diagnosis, now is the time to accomplish some of the most important estate planning and financial tasks to verify that you have done as much as possible to protect yourself. One of the first steps that you need to take must be designating beneficiaries. Far too many… Read More »
Three Steps to Handling End of Life Planning
If you have recently received a medical diagnosis, it’s important to realize that your estate planning cannot afford to wait. Often, a bad medical diagnosis can cause significant issues in your family if you have not done enough of the planning well in advance. Three steps are outlined in the short blog series about tasks… Read More »
Making Estate Planning a Women’s Issue
Estate planning is something that applies to every single person regardless of their position in life and current marital status. It’s often hard for women to understand the unique facets of estate planning that they must consider and in fact, in many estate planning seminars, women don’t even speak up. There are several different tips… Read More »
Using Multiple Layers of Protection in Your Estate Plan
Even those estates that are not very complicated can be protected using four best practices in the asset protection planning process. Complex estates require multiple layers of protection in order to guard against common pitfalls that could significantly decrease the value of your estate. A New York attorney was arrested in February due to charges… Read More »
What You Need to Know About Setting Up Estate Plans with Scholarships
Are you thinking about establishing a scholarship that will be given to someone after you pass away? This could be an excellent philanthropic venture to include in your estate plan but you need the support of an experienced estate planning attorney to understand how to incorporate this appropriately and how to ensure that your individual… Read More »
Family Finances Can Be Devastated by The Sudden Loss of a Loved One
The sudden death of a family member can have a significant impact on finances for everyone. Sudden deaths like those of Anthony Bourdain and Kate Spade illustrate why it’s so important to have done some work in advance with regard to financial planning. Attorneys, financial advisors and therapists all have chimed in in recent articles… Read More »
Stan Lee’s Planning Disaster Holds Important Lessons for All People
There are many different lessons we can learn about estate planning from the mistakes of celebrities today, and as more people live into their nineties and their one hundreds, it will become increasingly important to think about issues that are arise during the course of your life and not just your death. The elder abuse… Read More »
A New Study Shows Women Are Taking More Charge in Financial Affairs
A new study indicates that in terms of wealth management, women are taking an advanced position on financial planning. The study completed by RBC Wealth Management indicated that there has been a significant change in the attitude of women between millennial and the baby boomer generations. In fact, approximately half of boomer women take the… Read More »
The Inheritance Wave Is Coming
Whether your estate is small or large, thinking about passing it on to future generations means you must consider your own legacy and how you’d like to be remembered. Furthermore, the gifts you make to your family members can have a lasting impact on their life. Research shows that massive wealth transfers are coming down… Read More »
Understand the Overall Importance of Long Term Care
Whenever estate planning and elder law attorneys try to broach the topic of long term care with clients, there’s usually a wall of denial that is struck. This makes it even more important to understand the possibility of the need for long term care and how to approach this with an open mind. Without appropriate… Read More »
Don’t Ignore the Value of Business Succession Planning
Businesses across the United States don’t even know about the prospective dangers of a silent killer for their company. Up to 90% of businesses in the United States are owned by family members; however, fewer than one third of these companies will survive into the second generation. The statistics are even more grim for survival… Read More »
Review Your Will and Prenup Or Postnup Agreement
All legal documentation should be carefully evaluated after you file for divorce and preferably before if you have the opportunity. Two key legal documents that most people have executed and might forget about in the wake of the divorce are the will and any pre-nuptial or post-nuptial agreement. If your state allows you to execute… Read More »
Update Your Power of Attorney Following a Divorce
After getting a divorce, there are immediate estate planning issues that have to be addressed and overlooking even one of these could set you up for potential failure if a now estranged spouse is making decisions on your behalf. In the first part of this three-part blog series to discuss the benefits of updating your… Read More »
Part 1: The Getting Divorced Estate Planning Series
You will need insight from an experienced estate planning lawyer if you intend to get divorced because there are many different issues that have to be addressed at the outset of this process. Failing to include these in your process could expose you to problems down the road, such as having beneficiary designation forms that… Read More »