Your estate plan may need to be reviewed and amended annually to keep up with the complex and ever-changing federal estate tax law, gifts, and GST exemptions. Since 2018, federal tax assessment on estates above $11.7 million, indexed for inflation…
It's uncomfortable to think about death, especially our own. Add to that the question of what will happen to our assets after we die and it's no wonder, so few people have created wills. According to a 2021 Gallup poll,…
It was only thirty years ago that a traditional family consisted of a husband and wife who married young, bought a house, had children, and worked toward financial security and stability. As family structures have changed, so has the practice…
Wills and trusts are usually associated with estate planning and passing assets to future generations. However, there is another part of estate planning that doesn’t get as much attention. It concerns advance health care planning. Have you thought about what…
With the Internet of Things (IoT), identifying and managing your digital property is more important than ever. From smart home devices to online investments and bank accounts, we’ve gone way beyond using the internet to email family and social media…
Power of Attorney (POA) documents are an essential part of estate planning. All states recognize powers of attorney, but rules and requirements will differ from state to state. The document gives one or more individuals the legal authority to act…
Children, including minors and adults, may disagree about family circumstances, especially when it comes to inheriting your estate. Relationships can change and intensify when you die, with underlying issues that bubble to the surface, creating tensions over your estate and possibly…
You can name a personal representative (executor) in your will to carry out your wishes after you pass away. When your will is properly filled out, it will address who will inherit your assets and properties. In addition to asset…
Although elder law and estate planning are often used interchangeably, there are significant differences between them. To prepare for successful aging and preserve a family legacy, it is important to learn and apply strategies from both types of law practice.…
It is likely that you have questions regarding how you want your assets distributed and who should have that responsibility, regardless of where you are in the estate planning process. A trust can be a great tool in your estate…