Senator Bernie Sanders recently introduced the “99.5% Act”, which is focused on the assets of the top 0.5% of wealthy Americans. This marks the first legislation introduced following President Joe Biden’s coming into office that would result in the lowering of the federal estate tax exemption. For many people interested…
Many people realize that life insurance can play a valuable role if someone unexpectedly passes away. What a much smaller group of people is that life insurance can play a critical role in estate planning because it can be utilized to provide liquidity when needed. With adequate estate planning,…
Business owners led hectic lives. Understandably, some things on business owner’s “To Do” lists end up getting delayed. Estate planning, however, should not be something that ends up postponed. Not only is estate planning critical for business owners, but some unique issues arise. This article reviews just some of the…
In the recent case of Odom v. Coleman, a brother and sister initiated legal action against another in a matter involving their father’s estate. The dispute between the two siblings focused on whether the father’s estate should be reformed in accordance with Texas Estates Code Section 255.451(a)(3) that allows courts…
Regardless of your age, it’s critical to engage in estate planning to make sure you assert adequate choices over your financial and medical choices. Estate planning is also critical regardless of your economic status. While you will need to make estate planning decisions as you get older, even young people…
If you have a Google account, you have various data as well as tools to manage your account. What many people fail to realize, however, is that you can tell Google how to manage your account as part of your estate plan. People rely on Google accounts and applications for…
The Covid-19 pandemic has placed an increased focus on legacy planning because it has highlighted the need to make sure that your estate plan is in order. Besides the fact that more people are realizing the value of adequate estate planning, other advantages like all-time high estate tax exemptions make…
Each year, the news is full of stories about high-value celebrities who pass away without adequate planning and as a result, have assets that end up tied in lengthy and costly legal battles. While many people have estates smaller than well-known celebrities, estate planning is critical for these individuals. After…
The pandemic has created substantial challenges for many people and disrupted countless facets of daily living. Low-interest rates and depressed asset values, however, have created an ideal situation for estate planning. If you’re interested in planning for the future, there are some unique estate planning strategies that you should consider…
People in second marriages often are placed in the difficult position of balancing the wellbeing of their spouse with the needs of their children. Deciding what estate planning strategies to utilize to care for both spouses from second (or additional) marriages and children can be challenging. In the hopes of…