Estate Planning
Your 2016 Estate Plan Checkup
Our office typically sees a flurry of activity in January. Apparently, estate planning keeps good company with diet and exercise when it comes to New Year’s resolutions. Here are some tips for creating and updating your estate plan in 2016: Review and update your estate planning documents. Have there been changes in your family or…
Read MoreEstate Planning – How Property is Titled
How property is titled plays a significant role in estate planning. In this article we’ll take a 5,000 foot view of the ways in which we hold title to our property, and the effect such title has during periods of disability or at death. First, when we speak of title, we speak of legal ownership…
Read MoreFunding Bank Accounts into Trust
In our last post, we discussed the importance of trust funding, and how a properly funded trust can avoid probate and allow for the safe handling of your assets in the event of a mental disability. We will now take a look at funding specific assets, starting with bank accounts. Bank accounts can be one…
Read MoreEstate Planning with Portability Part III
In Part I of this Estate Planning for Portability series we were introduced to the concepts of the Unlimited Marital Deduction and the Federal Estate Tax Exemption amount (which we refer to as a coupon). We also introduced the couple Bob and Sara and their children Jake and Desiree. Through Bob and Sara we showed…
Read MoreEstate Planning with Portability Part II
In Part I of this Estate Planning with Portability series we were introduced to the concepts of the Unlimited Marital Deduction and the Federal Estate Tax Exemption amount (which we refer to as a coupon). We also introduced the couple Bob and Sara and their children Jake and Desiree. Through Bob and Sara we showed…
Read MoreEstate Planning with Portability Part I
The American Taxpayer Relief Act of 2012 made “permanent” the concept of portability. The use of portability in estate planning has changed how planning is done for many married couples. This is the first of three articles on portability in estate planning. These articles are of particular relevance to married couples who either have no…
Read MoreEstate Planning for Young Families
I’ve often said, while people plan their estates to avoid probate and save taxes, at its core, estate planning is about making things easier on the ones they leave behind. This sentiment is especially true for families with minor children. While typically guidelines in estate planning are more discretionary than hard and fast, one such…
Read MoreEstate Planning for Blended Families
There are lots of reasons to do estate planning, but at its core, people plan for their estates to make things easier on the ones they leave behind. In the situation of a blended family, the likelihood that things will not go smoothly for your loved ones after you are gone is a distinct possibility.…
Read MoreThe Truth About Estate Taxes
Here’s the simple truth about estate taxes (AKA “Death Taxes”): very few people need to be concerned with them. Who does need to be concerned? Under current law, only those who have estates greater than $5 million. Here’s why: Everyone who dies is subject to a federal estate tax of 40% of your wealth that…
Read MoreThree Crucial Documents Needed in Every Comprehensive Estate Plan
Because life is anything but predictable, an estate plan must include contingencies for the unexpected while you are still living. If at any time you become incapacitated and need to rely on others to make crucial decisions for you, you’ll be glad that you have provided them with documentation that speaks for you when you…
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