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 »
Blog Posts Page 6
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 »
Avoiding Stan Lee’s Estate Planning Mess
Asking important questions over the process of approaching your own estate planning can help to minimize conflicts and concerns and enable you to pass on your assets to your loved ones more easily. Unfortunately, as any number of estate planning snafus can suggest, it is far too easy to end up in a mess that… Read More »
Don’t Forget These Estate Planning Considerations in Your Second Marriage
Getting married for the second time can bring about a great deal of joy in your life but it can also lead to many different questions and concerns. That’s why it’s important to work directly with an experienced estate planning attorney who understands the issues surrounding the second marriage. Some of the following considerations may… Read More »
Should Millennials Plan Their Estate Now?
The investment portfolio of millennials is poised to change the estate planning industry. For many years, estate planners have largely been focused on providing support to baby boomers. Baby boomers will be passing on a significant amount of wealth to future generations in the next couple of decades, but the approaches that worked for baby… Read More »
Don’t Forget These Year End Tax Planning Strategies
New tax laws across the United States should encourage some Americans to evaluate their yearend tax strategies in order to further enhance their wealth. Don’t make the mistake of assuming that it’s time to jump right into 2019 without proper planning. These strategies can be especially helpful since your previous tactics and plans might have… Read More »
What Should You Do If You Have Parents in Their 90s With No Estate Plan?
Parents who do not have an estate plan put everyone in the family in a difficult position of trying to manage a mess if that person becomes incapacitated or suddenly passes away. For an adult only child, this situation can be even more complicated. Trying to figure out how to approach this process with parents… Read More »
How Can a Trust Fund Be Used for Families?
There are many different advantages to establishing a trust fund and although you might have heard that these are primarily vehicles used by affluent families looking to pass on benefits into the future, trust funds offer a variety of benefits, such as safe keeping of assets and tax advantages like minimizing gift and estate taxes…. Read More »