Articles — page 12
- Why is Estate Planning So Important? According to many surveys, the majority of Americans don’t have an estate plan. Many of us know why we SHOULD have one. When I ask clients why it’s important to have a plan in place, most times they state two things. We… Read “Why is Estate Planning So Important?”
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Prince’s Estate Serves as Prime Example of Why You Need an Estate Plan
If you are looking for a cautionary tale highlighting the pain and expense of dying without an estate plan, Exhibit A is the rock music icon Prince’s estate. It has been two years since news broke that Prince passed… Read “Prince’s Estate Serves as Prime Example of Why You Need an Estate Plan”
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Important Tips for Incorporating Long-Term Care Into Your Estate Plan
Many people equate estate planning with postmortem concerns. Basically, what happens to their property and money after they pass on. However, an estate plan can, and should, incorporate long-term care. Why It is So… Read “Important Tips for Incorporating Long-Term Care Into Your Estate Plan”
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Is Your Kid College Bound? Here are the Estate Planning Documents They Need
It’s one of the proudest moments a parent can experience – sending their child off to college. It is a recognition that your child is entering a new chapter in life where they will (hopefully) learn to become an… Read “Is Your Kid College Bound? Here are the Estate Planning Documents They Need”
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When To Review Your Estate Plan
A commonly asked question by clients is “when should I schedule a comprehensive review of my estate plan?” First and foremost, if you are asking this question, you are ahead of the game. A recent survey showed nearly 65… Read “When To Review Your Estate Plan”
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Three Key Benefits to Avoiding Probate
When you are creating your estate plan, an objective you should strive for is structuring your plan in a way to avoid probate. Probate is a statutorily-based way of settling an estate requiring the oversight of a… Read “Three Key Benefits to Avoiding Probate”
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Estate Tax Exemption Doubles Under New Law
If you have a high-value estate, you can breathe easy about the federal government levying an onerous tax after you pass on. Congress passed, and the President signed into law, new tax legislation that will double the… Read “Estate Tax Exemption Doubles Under New Law”
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Making Sure Your Furry Friend is Taken Care Of – Benefits of a Pet Trust
For many people, a pet is like a child. In fact, family pets are often referred to as “fur babies.” Just like a child, there needs to be a plan in place to make sure they are taken care of, in case you suddenly pass on… Read “Making Sure Your Furry Friend is Taken Care Of – Benefits of a Pet Trust”
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Tips on What to Look For When Selecting a Trustee
If you have a trust as part of your estate plan, you will need to select someone, whether it be a friend, family member, or colleague, to serve as the trustee. This is a critical step because the trustee is obligated to… Read “Tips on What to Look For When Selecting a Trustee”
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IRAs and Revocable Living Trusts
When you pass on, you want your loved ones to get your assets in the most cost-effective, time-efficient manner possible. To accomplish this objective, you may be looking to avoid probate and placing a majority of your… Read “IRAs and Revocable Living Trusts”