Far too many people procrastinate when it comes to estate planning, and there are many reasons for this phenomenon. One of them is the idea that you always have time to take care of it later on, and it is really not that complicated. You just state your wishes in writing in a will, and that’s the long and short of it.In reality, this is a gross oversimplification. When you plan your estate, you are arranging for the distribution of everything that you have accumulated throughout your life to … [Read more...] about Five Key Inheritance Planning Considerations
Estate Planning
Best Places to Retire: State Taxation
You owe federal income tax wherever you live. But your overall tax burden can vary dramatically depending on where you live. Read on to learn more.Best Places to Retire: State Taxation … [Read more...] about Best Places to Retire: State Taxation
Joint Tenancy Pros and Cons
Joint tenancy is a commonly used form of ownership between two or more people. It can be an easy solution. However, it can have drawbacks. Read on to learn more.Joint Tenancy Pros and Cons … [Read more...] about Joint Tenancy Pros and Cons
Whom Do You Want to Get Your Assets?
Most of us have an idea whom we’d choose to receive our assets at our death. But often we don’t contemplate what should happen if the people whom we’ve selected die before us. Read on to learn more about contingent beneficiaries.Whom Do You Want to Get Your Assets? … [Read more...] about Whom Do You Want to Get Your Assets?
Planning for the Sandwich Generation
The Sandwich Generation is torn between caretaking responsibilities for their minor children and their elderly parents. But first, they need to make sure they take care of themselves. Read on to learn more.Planning for the Sandwich Generation … [Read more...] about Planning for the Sandwich Generation
What Is a QPRT?
There are quite a few different acronyms used in the field of estate planning to shorten certain wordy terms. We are unraveling them one by one for our readers, and we explained the QDOT the last time around.In this post, we will dissect the QPRT, which is an acronym that stands for a qualified personal residence trust. To understand why you may want to consider the utilization of this estate planning device, you have to absorb some information about taxation.Federal Estate Tax and Gift … [Read more...] about What Is a QPRT?
The SECURE Act May Impact Your Estate Plan
One of the reasons why we always emphasize the fact that estate planning should be viewed as an ongoing process is because laws are subject to change. Some of them are relevant to estate planning either directly or indirectly.As a layperson, you are probably not going to be plugged into the possible inheritance significance of every legal step that is taken. This is our job, and when you come into the office for an estate plan review, we can look at your existing plan in light of any changes … [Read more...] about The SECURE Act May Impact Your Estate Plan
Lesson Learned From Kobe Bryant Crash
Basketball fans in Los Angeles were devastated by the news that Kobe Bryant, his daughter Gianna, and seven other people were killed in a fatal helicopter crash.It is hard to process the information when you hear about people suddenly passing away before their time. Of course, if this type of event was to touch you directly, the shock would be indescribable.No one wants to learn in this manner, but the fact is, you can get a wake-up call when a tragedy strikes. This definitely applies to … [Read more...] about Lesson Learned From Kobe Bryant Crash
Beneficiary Designations and Other Non-Probate Transfers
Many of us are surprised that our assets may not go to those named in our Will. However, if you have assets controlled by beneficiary designations or other non-probate transfers, that’s the case. Read on to learn how a Will might not control all your assets. Read on to learn more. … [Read more...] about Beneficiary Designations and Other Non-Probate Transfers
Estate Planning Conference Discusses SECURE Act and More
The Heckerling conference, the largest conference for Estate Planning in the country, occurred last week in Orlando, FL. Many of the thought leaders in Estate Planning and Elder Law got together and discussed recent developments and new strategies. The SECURE Act was the biggest topic this time. Read on to learn more. … [Read more...] about Estate Planning Conference Discusses SECURE Act and More
