Don’t Wait to Plan
Estate planning is for everybody. As a recent article explains, an estate plan is “a set of legal documents that allows you to leave instructions regarding your care if you can’t speak for yourself and distribution of your assets if you die.” These documents are important for everybody, no matter how rich or poor. A […]
Six Estate Planning Mistakes to Avoid
One important facet of estate planning is beneficiary designations. These designations are common on documents such as insurance policies and retirement plans. Although it may seem simple to put a name on a designation and forget about it, this can often lead to adverse consequences. A recent article discusses six things that can go wrong […]
Important Estate Planning Tips for Women
Estate planning is vital for women, who live an average of seven years longer than their male counterparts. A recent article discusses several things women should know about crafting their estate plan. First, it is important to take control of your own financial planning. The biggest mistake a woman can make is to leave her […]
Incorporating Income Tax Planning Into Your Estate Plan
As estate-planning attorneys settle into the new tax rules for 2013, the focus of estate planning is beginning to take a marked shift. The $5.25 million federal estate tax exemption means that fewer people will have to plan to avoid federal estate taxes. Therefore, as a recent article explains, estate-planning attorneys are now shifting their […]
Does Portability Eliminate the Need for a Bypass Trust?
One of the many benefits of the American Taxpayer Relief Act of 2012 is that it made portability permanent. Often used as an estate-planning vehicle, portability allows married couples to share unused portions of their federal estate tax exemption. Another estate planning tool used to achieve this result is the bypass trust. A recent article […]
What if a Parent Won’t Discuss His or Her Estate Plan
Although estate planners are constantly encouraging family members to discuss their estate plans with one another, some people simply refuse to do so. A recent article discusses what to do if your parents insist on staying mum about his or her estate plan. It is first important to realize that, as an adult child of […]
Estate Planning for Everyday Americans
When people think about estate planning, many imagine families of tremendous wealth creating fancy trusts to pass down from generation to generation. However, estate planning is important no matter what your financial situation is. A recent article discusses several estate planning tips for everyday Americans. First, everyone should have an advance health care directive. This […]
Have the Legacy Discussion With Your Family Members
While the main thrust of estate planning is to direct the distribution of your assets upon your death, another important consideration of estate planning involves the personal and relational aspect. More commonly, people want to leave some sort of legacy when they die. A recent article discusses how to leave your legacy. Often, when people […]
Even More Estate Planning Pitfalls
Estate planning is one of the most important things that an individual will do in his or her lifetime. Every individual needs an estate plan, regardless of his or her age or circumstances. Because the need for an estate plan is so universal, there are many examples of estate planning gone wrong for others to […]
Retirement Accounts and Estate Plans
Often, people fail to consider how to best handle their retirement accounts when crafting their estate plan. Retirement accounts, however, are typically one of the largest assets in a person’s estate. Therefore, this failure can often prove problematic for beneficiaries. A recent article encourages readers to properly plan for their retirement accounts. Interestingly, many people […]