Some individuals approaching age 60 start thinking about the prospect of their own retirement. This is an ideal time to look ahead to the future and try to answer as many questions as possible about whether or not you have set enough aside. The answer to whether or not you are able to retire now… Read More »
Blog Posts Page 53
Does It Make Sense to Divide Your Estate Plan Equally, But Not Necessarily Fairly?
As a parent, you have probably done a lot of work to treat your children fairly and equally. While that might be relatively straightforward as you raise them, these decisions can be a lot more difficult when it comes to dividing up your assets, particularly if you have a family farm or a company. The… Read More »
What You Need to Know About Charitable Bequests
Thinking about accomplishing more than one goal with your estate planning? If so, you’re not alone. It’s important to think about how you intend to accomplish this goal, however, by setting up a meeting with an estate planning lawyer. More and more baby boomers are considering leaving behind all or a portion of their estate… Read More »
Digital Asset Planning Part III: Get the Right Documentation & Backup Your Files
A standard will most likely won’t cover for your digital assets. Work with your estate planning attorney to ensure that your executors are aware of how to carry out your wishes in the event that they need to show proof to any digital service provider that they are your official representatives and that they are… Read More »
Digital Asset Planning – Part II: How to Inventory Your Account
Most people have more online accounts than they originally think. The online password manager Dashlane anticipates that their average user has at least 90 online accounts. This is why it can be so challenging to approach the process of digital estate planning. Make a list and refer back to it over a number of different… Read More »
Do You Need a Digital Executor?
If you’ve ever engaged in the estate planning process before, there’s a good chance that you’re familiar with the basic concept behind an executor. An executor is responsible for managing your financial and your real estate assets after you pass away. However, the rise of digital assets may call for a totally separate executor altogether…. Read More »
What You Need to Know About Estate Tax Portability Elections
Portability refers to allowing a surviving spouse to make use of his or her estate tax exemption on the federal level and the exemption granted to a spouse who is first to die. Every decedent in 2017 is allowed a personal exemption of $5.49 million which allows a married couple to shelter up to $10.98… Read More »
How an Impartial Executor Can Help Prevent Family Feuds?
There are several different preventative measures that you can take when you approach estate planning that can minimize problems with your loved ones down the road. Unfortunately, some of the most common conflicts and disputes surrounding the management of a person’s estate who never took the time to share his or her intentions with their… Read More »
The Value of Succession Planning with the Right Individuals
Many business owners fail to engage in the process of business succession planning to begin with and this can expose the company they have worked so hard to build to financial jeopardy. However, many business owners have good intentions of installing family members in roles of the future to help the continuation of the company… Read More »
How to Handle Your Estate Planning after a Terminal Diagnosis
Receiving a terminal diagnosis associated with any health condition can be an overwhelming experience. It can make it seem as though your entire world has been turned upside down. While there are many different emotions that can impact you during this challenging time, one of the most important things you can do is to approach… Read More »
Millennials Becoming More Involved with Investment Planning
A new study issued by JD Power explores overall investor satisfaction with wealth management forms. Millennials have been the focus of a great deal of research in recent years particularly as it relates to their financial habits and their future planning. Investment planning often works alongside estate planning, but many millennials don’t see the benefits… Read More »
Ensuring That Your Property Stays in The Family
When you sit down with your estate planning attorney to discuss your future plans, one of the primary issues that often pops up for many people has to do with their property. Although you may have monetary assets that you wish to pass down to your loved ones, including those associated with a life insurance… Read More »
Asset Protection Planning for Individuals Thinking About Getting Married
A strategic wealth plan for anyone who has a high net worth can be extremely valuable when approaching the subject of marriage. While divorce is not inevitable, it is certainly a risk that many different marriages might face. This is why it is advisable to consult with an experienced asset protection planning attorney for your… Read More »
What Happens After an Individual Inherits Your Property?
If an individual is named in your will to receive your property, he or she will take it and then this person will be subject to whatever mortgage presently exists. This is why it is important to articulate to the person who you intend to take over your property that he or she should have… Read More »
What Happens When a Homeowner Does Not Have a Will?
In California, a will is one of the most important and basic estate planning tools that can articulate your wishes after you pass away. A will is even more important if you own property in California or elsewhere, as you’ll need to take planning steps to ensure that the beneficiary you select is eligible to… Read More »
Reasons to Discuss Your Charitable Gift with the Company You Intend to Receive It Well in Advance
In the event that you intend to use your estate plan as an opportunity to pass on gifts to charity, it is important to have a conversation with that charity in advance. The reason for this is they may not know how to take an unplanned gift. If you have any charitable donations listed inside… Read More »
Incorporate a Backup Plan into Your Estate
For those people who’ve already taken the initial steps with regard to their estate planning, this is an important distinction that can make you feel much more comfortable about what will happen to your assets after you pass away as well as how you plan to pass on assets while you’re still alive. Unfortunately, however,… Read More »
Business Succession Planning Should Certainly Be Part of Your Estate Planning Process
Research from the U.S. Census Bureau indicates that there are more than 27 million small businesses in the United States. Entrepreneurship as well as business ownership has significant opportunities for generating major wealth and legacy creation, regardless of who starts the company. It is extremely important, however, when founding a company, to look well ahead… Read More »
When Does A Family Limited Partnership Makes Sense for Your Estate Planning?
Family limited partnerships and other similar entities can be extremely valuable as an estate planning strategy for clients who are classified as having a high net worth. These could also be contested by the IRS for their ability to transfer wealth within a family while minimizing transfer taxes in the process. However, if these are… Read More »
The Value of Having an Estate Plan in Line with Your Current Circumstances
Most people recognize the general benefits of putting together an estate plan that reflects their individual needs as well as what is best for their family. However, putting together an estate plan is not something that can be accomplished in one sitting. Although your initial estate plan may accomplish some of your general goals, it… Read More »