Typically, many people tend to think an estate plan only includes your Will. In today’s day and age, however, most people have a much more diversified estate plan than they realize. Your estate plan is far more than just your Will and includes things like trusts, investments, retirement accounts, and…
Most individuals recognize the importance of comprehensive estate planning, although they may still choose to avoid it. One important part of your estate plan is your power of attorney (“POA”). Basically, a POA is a document that nominates an individual to make legal decisions for you in the event that…
Once an individual decides to engage in comprehensive estate planning, several concerns may arise. One of those concerns often involves leaving a large sum of money to an heir that may be facing financial difficulty or may not yet have the ability to budget in a responsible manner. In such…
We have written several aspects about the role IRAs can play in your comprehensive estate planning strategy, as well as several concerns that accompany them. Here, we will address the two common choices facing non-spousal individuals listed as heirs for an IRA account that is not slated to go to…
For most people going through estate planning, the goal is to pass on as many assets and as much wealth as possible. Most people don’t engage in estate planning with the goal of paying the most taxes possible or distributing assets to creditors. In fact, creditors can take a bigger…
When people begin the process of estate planning or take time to review their existing estate plan, they have many tax considerations to think about. How they distribute their assets will determine what taxes, if any, will apply to their estate. They may consider creating a trust for their children,…
When you make the decision to see an experienced estate planning attorney to make a comprehensive estate plan to safeguard your assets and provide for your heirs, it can be a confusing process filled with a lot of legal terminology that might be new for most people. One of the…
Maintaining your Social Security number is something we have all been told to keep close, and to be wary of releasing to companies unless absolutely needed. Your Social Security number are a series of numbers that help identify individuals in the United States as either citizens, permanent residents, or temporary…
Properly planning and structuring of charitable contributions and gifts can be a huge part of the overall estate plan. There are good and bad ways to give. Ensure that your gift is properly funded and distributed per your wishes by planning ahead of time. This planning may include using charitable…
Newly married couples are embarking on a whole new life together. This new life comes with a number of changes. It is important to consider your estate planning as you begin your life together. Creating an estate plan that works for both you and your new spouse can ensure that…