Estate Planning
Why Your Estate Plans Need Periodic Review and Revision
Posted on May 13, 2021
If you have created a will, trust, or other estate plans, you are already ahead of most people. Although estate planning is an essential responsibility, many people avoid creating an estate plan or procrastinate it indefinitely. However, estate planning does not end once you draft and sign the estate planning documents. Your estate plans need to be periodically reviewed and updated as you and your family grow and change. Experts generally recommend reviewing your estate plan every five years to be sure that it still meets your needs and those […]
A Well-Designed Estate Plan Can Help You Avoid Probate
Posted on May 6, 2021
Proper estate planning is key to ensuring that your assets are distributed according to your wishes. You have worked hard to earn the property you own and you deserve to choose how that property is allocated after your death. Numerous estate planning tools can help you accomplish your goals and provide for your family’s future. The type of estate planning instruments that you utilize depends on your unique needs and objectives. For many, a key goal is avoiding the probate process. What is Probate and Why Would I Want to […]
Beneficiaries and Executors: Important Rights and Responsibilities
Posted on April 29, 2021
The process of estate planning allows us to make essential decisions about how our property is passed to beneficiaries. Beneficiaries have certain rights and responsibilities by law, as do those who have been given fiduciary responsibilities. Whether you are drafting a will, or you have been named as a beneficiary or executor in someone else’s will, it is important to understand exactly what these roles entail. In most cases, the creator, beneficiaries, and fiduciaries of an estate plan can benefit from consulting with a skilled estate planning attorney. Choosing Your […]
Comprehensive Estate Plans Include More Than Wills
Posted on April 15, 2021
For many people, the term “estate plan” is assumed to be synonymous with “will.” However, a last will and testament is only one element of a comprehensive estate plan. A will can accomplish several important purposes; however, wills are also bound by certain limitations. When building your estate plan, it is important to consider other estate planning tools such as a living will, trust, and power of attorney. With this in mind, our firm offers a variety of estate planning packages that can be customized to meet your particular needs. […]
Tax Planning in Your Estate Plan
Posted on April 8, 2021
Benjamin Franklin is attributed as having said that only two things are certain in life: death and taxes. The way you structure your estate plan will have considerable tax consequences, so it is important to plan accordingly. There are different tax-related advantages and disadvantages associated with each type of estate planning tool. Failure to plan for estate planning tax consequences can leave your surviving loved ones with unexpected and unpleasant tax-related surprises. An estate planning attorney can explain the potential tax implications and help you minimize your tax liability through […]
The Importance of Retaining Representation as a Beneficiary in an Estate Plan
Posted on March 25, 2021
If you have been named as a beneficiary or heir in a loved one’s will or any type of trust, you might be happy to know that the person cared about you enough to include you in his or her estate plan. In many cases, you might be able to receive the benefits intended for you without any hassle. In other situations, however, you might encounter virtually endless obstacles to overcome before you can receive your intended inheritance. When things get complicated, it might be in your best interest to […]
Charitable Giving in Your Estate Plan Can Add to Your Legacy
Posted on March 18, 2021
When you think about the idea of estate planning, it is reasonable to primarily consider the variety of documents and tools that you will need to pass your assets and property on to your children—and possibly your grandchildren. The transfer of assets to future generations is, of course, an important goal of the estate planning process, but there other things to consider as well. For example, you might also wish to think about the legacy that you will leave behind. One of the most common ways for you to cement […]
Complex Estates and the Dangers of DIY Estate Planning
Posted on March 11, 2021
For more than 240 years, America has enjoyed a reputation as a nation of independent people who are willing and able to do things themselves. Bookstores and the internet are full of resources for those with a do-it-yourself attitude, as books and YouTube videos can show anyone how to do just about anything with the right tools. From auto repairs to home improvements to the basics of French cuisine, you can fairly easily find a way to get the job done. With just a few clicks of your mouse, for […]
The Dangers of Failing to Plan: Caregiving Misunderstandings
Posted on February 25, 2021
If you are like the vast majority of people, when you see or hear the words “estate planning,” you are likely to think about wills, trusts, and other formal instruments that are commonly used to transfer property from one generation to the next. While it is certainly true that the transfer and protection of assets are major components of any estate plan, there are several other elements that address quality of life concerns as a person ages. As an estate planning attorney, I realize that many important topics like these […]
Estate Planning Means More Than Just Drafting a Will
Posted on February 11, 2021
When some people hear the terms “estate plan,” “wills”, “trusts,” or “end-of-life planning,” their eyes glaze over. The subject of estate planning can be overwhelming because it is a multifaceted topic which covers many aspects of financial and healthcare planning, but also because it is often uncomfortable to talk about what will happen after you pass away. However, having an estate plan in place gives you control over the distribution of your assets, your legacy wishes, and could even help you pay less in taxes, fees, and court costs. As […]
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