Estate planning for oneself is difficult enough. Unfortunately, many adult Americans also find themselves assisting their aging parents, who haven’t even began the process of planning. Assisting an aging parent with estate planning can often be a tall order. Just as important as it is to understand how to approach the situation, it is equally… Read More »
Blog Posts Page 75
Contesting a Will on the Basis of Dementia
Unfortunately many individuals experience dementia as they enter the last stages of life. Sometimes, this dementia can lead to questionable terms in that individual’s will. If you are considering challenging a parent’s will because you don’t believe he or she had the proper mental capacity when he or she signed it, a recent article discusses… Read More »
The Importance of a Will
With the abundance of intricate and specialized estate planning tools currently being offered by estate planning professionals, many people overlook the importance of what should be the central part of every estate plan, the will. A recent article discusses the advantages associated with, and the importance of having a will. Most wills contain important provisions…. Read More »
Time for Boomers to Hand Down the Businesses
Many individuals in the baby boomer generation created their own wealth through entrepreneurial effort. Today, a large number of these boomers are looking to hand their businesses off to the next generation. A recent article discusses estate planning tips for boomers looking to pass on the business. Passing down a business should not be taken… Read More »
When is a Trust Necessary?
Perhaps one of the most popular estate planning tools is the trust account. There are a variety of different types of trust accounts that can serve a variety of purposes. A recent article discusses how you can determine whether one of these trusts may be right for you. Whether your estate plan would benefit from… Read More »
Seven Steps to a Bulletproof Plan
As a recent article explains, creating and revising our estate plans is akin to getting back into shape. We know we ought to get back into the gym, however the daunting nature of the task often causes it to be pushed back more often than we would care to admit. For those who have been… Read More »
Estate Planning is Financial Planning
The last thing people want to do is die without leaving a legacy to their loved ones. However, with all the taxes and fees applicable to post-death transfers of wealth, this can sometimes be an impossible task. There are both financial and non-financial consequences to all estate planning maneuvers. A recent article discusses how to… Read More »
Prenuptial Agreements in Estate Planning
When most people hear the words ‘prenuptial agreement,’ they think divorce. Although protection upon divorce is the main purpose of prenuptial agreements, these agreements are also becoming part of routine estate planning for more and more couples. A recent article discusses the estate planning benefits of prenuptial agreements. Prenuptial agreements are contracts signed by soon-to-be… Read More »
Does Debt Die With You?
If a person dies with debts, his or her creditors may attempt to hassle the family members of the deceased to collect those debts. Many people wonder whether these debts are collectable. As a recent article explains, the answer is it depends. For example, if a person has a balance on his credit card when… Read More »
Steps to Take After Losing a Loved One
The loss of a loved one is a very emotional time in a person’s life. However, it is at this time that certain steps must be taken in order to set the process of administering the estate and dealing with the body in motion. A recent article discusses what steps should be taken first. It… Read More »
Pitfalls of Putting a Minor Child’s Name on Title to Your Home
One small action that can often have disastrous results is a parent decides to add his or her minor child’s name on the title of his or her home. While parents believe this may assist with the settling of their estate, it often creates an estate planning mess. A recent article discusses why this is… Read More »
Planning for Your Art Collection
Although an estate plan should not individually provide for each and every tangible item that a person owns, it is vital that a person plans for the distribution of his or her more valuable items in his or her estate plan. A recent article discusses three tips for art collectors when planning for their collections…. Read More »
Marital Deduction Planning is Still Important
One of the most useful provisions of the American Taxpayer Relief Act of 2013 is that which provides American taxpayers with the ability to utilize portability. Portability allows a spouse to use any remaining federal estate tax exclusion that was unused by his or her spouse. Although the availability of portability means that those who… Read More »
Six Beneficiary Designation Blunders
Many individuals do not think twice about their beneficiary designations. After all, a beneficiary designation is as simple as filling in a blank. Due to the relative ease of beneficiary designation planning, however, many people make simple, common mistakes. A recent article discusses six common beneficiary-designation blunders. Forgetting to name a beneficiary on all retirement… Read More »
Trust May be Best Best for Farmers
When it comes time to transfer the family farm, there are many estate planning vehicles through which farmers can get this task done. The two major transfer vehicles are wills and trusts. Although determining which vehicle is more appropriate will depend on the facts of each individual situation, a recent article discusses why a trust… Read More »
Estate Planning Under 40
Estate planning is important at any age. The importance of a well-considered and executed estate plan only continues to grow as a person ages, accumulates assets, and begins a family. A recent article discusses several estate planning tips for those under the age of 40. Start Now: If you haven’t started estate planning, begin today…. Read More »
Default Estate Planning
After an individual spends his entire life accumulating assets, it is important for him or her to create an estate plan so that the assets will be distributed according to his or her wishes. One of the largest myths concerning estate planning is that it is unnecessary, because a person’s assets will be distributed to… Read More »
5 Tips for Planning for Your Intangible Assets
While tangible assets may be the first things that individuals consider in their estate plans, individuals have an ever-increasing number of intangible assets that need to be planned for, as well. A recent article offers 5 tips to assist you in planning for these assets. Create and update a list of all financial Web sites… Read More »
Probate Court Rules Living Man Dead
Donald Eugene Miller Jr. found himself in a unique position recently when a probate court ruled that he is legally dead. Miller, who is 61 and breathing, was actually declared legally dead back in 1994. He went into the court asking for a reversal of that ruling, and was denied. Eight years prior to being… Read More »
Inheritance Tied to Family Reunion
Before Albert Ravenholt died in 2010, he drafted a will with a unique provision. The provision stated that, in order to receive their inheritance, his nieces and nephews would have to attend a Ravenholt family reunion. Specifically, the will states that every two years, in either August or September, Ravenholt’s nieces and nephews would have… Read More »
