Planning for Longer Lives
As medical science continues to improve, Americans are living longer lives than ever before. Unfortunately, however, cognitive decline often goes hand in hand with longer life spans. Therefore, as a recent article explains, families should have a plan to deal with the cognitive decline of loved ones, and the financial difficulties that such decline may […]
Estate Planning for Special Needs Children
Parents with special needs children need to be careful when drafting their estate plans, to ensure that the plan provides adequate support for their child without causing any negative consequences. As a recent article explains, the most common way to do this is through a Special Needs Trust (“SNT”). Special needs beneficiaries often receive benefits […]
Estate Planning When Living With a Parent
It is not at all uncommon for a parent to have an adult child live with him or her. This typically occurs for one of two reasons. Either the child is acting as a caregiver for the parent, or the child is unable or unwilling to begin living on his own. No matter the reason […]
Providing For Your Family Through Trust Bank Accounts
The key purpose of estate planning is to ensure the financial security of your family after your death. As a recent article explains, one way to ensure the financial security of your family is through establishing a trust bank account. Many bank accounts are well suited for trusts, these accounts offer multiple benefits: Trust assets […]
Considering Gandolfini’s Will
Last June, “Sopranos” actor James Gandolfini died of a heart attack at the age of 51. Shortly after his death, Gandolfini’s will became public. Since then, experts have considered the wisdom of the provisions in his will. As a recent article explains, experts believe that Galdolfini’s will was so poorly drafted that it may invite […]
New Uses for Life Insurance
Prior to the tax law changes of 2012, life insurance policies were commonly used to provide cash on hand for the decedent’s heirs to pay off any estate taxes. Now that estate taxes will apply to fewer estates, estate planning attorneys are exploring alternative uses for life insurance policies. A recent article discusses some of […]
New Budget Plan May Have Serious Effects on Estate Plans
Recently, President Obama released his proposed 2014 budget plan. As a recent article explains, financial advisers and estate planning attorneys have since been analyzing how the new plan will affect their clients. Under the new budget plan, the federal estate tax will increase from 40 to 45 percent, and the individual exemption will decrease from […]
Charitable Estate Planning
After one spouse dies, the surviving spouse often chooses to leave the entirety of his or her estate to his or her surviving children. Although this is the most common arrangement, it is certainly not the only option for post-death distribution of assets. In drafting an estate plan, a person can leave his or her […]
Simple Estate Planning for Young People
It is never too early to prepare an estate plan. Although planning for death is often the last thing on the minds of young people, the fact is that everybody has an estate, and no one can see the future. As a recent article notes, creating an estate plan is important for everyone, including young […]
Tips to Avoid Estate Planning Fiascos
The preparation of an estate plan often makes it easier for one’s family to deal with the aftermath of his or her passing. As a recent article points out, however, sometimes estate planning errors can cause an estate plan to have the opposite effect. It is therefore important to review your estate plan for errors […]