Estate Planning Articles
Some of these articles have been written by our law firm and other articles are written by the American Academy of Estate Planning Attorneys and compliments of our law firm. Any feedback or questions about the articles can be addressed by contacting our office.
Did you recently inherit money or other assets? If so, it is imperative that you make wise choices with your newfound wealth. To help you, we have created an inheritance “Dos and Don’ts” list.
Who are your designated beneficiaries? Not sure? If so, you are not alone; it’s not uncommon to select designated beneficiaries without considering your overall estate plan. However, the failure to coordinate them could wreak havoc on your overall estate.
Do you know what your home’s value is? Not just the home’s market value, but all the myriad of ways you can benefit from being a home owner? Though you may not realize it, the benefits of home ownership go far beyond the value of the equity you have in the home
If you are a nonresident alien, or you are married to someone who is, estate planning can be more complicated to navigate, and more important. Failing to plan ahead could even result in the loss of much of your estate assets to federal gift and estate taxes.
For many, one of the most complicated and awkward conversations is likely a discussion around funerals. Preplanning for a funeral can be the ideal opportunity to start a conversation, and if you’re a Medicaid recipient, it’s even more important.
Incorporate gifting to your loved ones as a way of reducing your overall annual tax burden, but be sure you do it in such a way that it maximizes your goals.
There are long-term estate planning objectives that are as important for childless men and women as they are for parents. Estate planning as a whole should remain a priority.
No contest clauses reduce the risk of having your estate plan contested. Any efforts to contest a last will and testament can result in a total loss of any inheritance.
We always hear that planning is crucial. No truer is that sentiment than when it comes to caring for our aging parents. Proper planning can mean the difference of an enjoyable retirement or one that’s riddled with problems.
Our priorities shift as we move through our lives. What might have been important in our early twenties may no longer be a priority as we near retirement. It’s important to ensure our estate plans are current and that a trustee is chosen who will carry out our wishes when we are no longer able to do so. Learn more about addressing your estate planning priorities and how they might affect you in the future.