Category Archives: Estate Planning
Clearing Up Myths about Estate Taxes in Estate Planning
USA Today recently published a helpful article clearing up some confusion regarding federal estate taxes and how frequently heirs have to pay them when they inherit property, such as a farm or small business. Specifically, in some of his speeches, President Trump has stated that these heirs often have to “’sell the farm’ in… Read More »
The Importance of Approaching Your Family about Estate Planning, And How to Do It
In September, Market Watch featured an excellent article on the importance of discussing estate planning with your family, and how you might go about doing so–even if the topic might be an uncomfortable one to broach. Failing to do so could open up your family to some serious vulnerabilities in the future. The perfect… Read More »
Circumstances That Warrant Updating Estate Planning Documents
Because life is constantly changing, your estate planning documents should change alongside it. These periodic updates are necessary in order to ensure that your loved ones are properly provided for after you’re gone. Some key examples of essential estate planning documents that many have in place include healthcare directives, living wills, durable power of… Read More »
Durable Powers Of Attorney & Estate Planning
Durable powers of attorney apply to managing both your financial/business and health/estate affairs. They allow you to appoint an agent to handle legal, health, and financial responsibilities. They can cover a number of important issues, such as whether that’s asset management, care preferences, medical professional details, retirement plan elections, insurance benefits; amongst others. They… Read More »
What Is a Disclaimer Trust, and How Is It Used In Estate Planning?
The right estate planning is essential in order to ensure that your loved ones are taken care of in the event of your death. To this end, a disclaimer trust is sometimes helpful if a family is concerned that the estate tax or asset values may change after making a will which may ultimately… Read More »
Where Business Formation & Estate Planning Overlap
Even the most successful of businesses can fail if key documents governing their future management have not been drafted and put in place. These documents include a last will and testament, financial power of attorney, living trust, and others. And yet 80 percent of entrepreneurs surveyed failed to have a financial power of attorney… Read More »
Beware of Online Wills
According to AARP, six in ten Americans do not have a last will and testament. This startling figure means that the vast majority of Americans do not have their affairs in order should they unexpectedly pass away. With statistics like this floating around the internet, more and more Americans are opting to complete a… Read More »
You Are Never Too Young For Estate Planning
As college students graduate at this time of year and embark on “adulting,” it is important to understand the benefits of being proactive about planning for the future. At this point in life many young-adults will get their first “real job” and start receiving benefits and insurance plans for the future. With these firsts… Read More »
Why You Need to Start Thinking About Your Will
According to statistics, a staggering 64 percent of Americans do not have a last will and testament. This figure is extraordinarily high, and is likely due to the fact that mortality is a topic people like to avoid as it brings about a certain uneasiness. However, a will is vital to ensuring the safe… Read More »