If you’re like most people, you’ve heard the term, “living will,” but have some questions about it. What is a living will? Why do I need one? Is it the same as a will? What’s it all matter anyway? In general, the term "living will" refers to a document in which a person can set forth his or her wishes relating to future medical care, in particular, end-of-life care. It is different than a Last Will and Testament wherein you set forth your instructions for your estate following your … [Read more...] about What’s a Living Will?
What Will You Do Without Incapacity Planning?
Incapacity planning is an estate planning need that is often overlooked. Many people assume that they will never have a medical emergency, so they decide not to plan ahead. Take a look at the following information, to better understand incapacity planning. If you have any questions, or if you’d like to discuss your planning options, contact an experienced and qualified estate planning attorney. Staying in Control with Incapacity Planning Incapacity planning makes it possible for you to … [Read more...] about What Will You Do Without Incapacity Planning?
Don’t Forget Fido and Boots in Your Estate Plan: Pet Planning
People often overlook important estate planning considerations. After taking an inventory of all your assets and readying them for distribution to your loved ones, it would be easy to overlook something that is not normally thought of as an asset, the family pet. This is one of the reasons why it is a good idea to engage the services of an experienced and qualified estate planning attorney. You only have one estate to plan, but an experienced estate planning lawyer prepares many estate … [Read more...] about Don’t Forget Fido and Boots in Your Estate Plan: Pet Planning
Why Is Estate Liquidity Important?
For many people, the impetus to create an estate plan comes from the desire to protect and provide for loved ones. The primary objective of your estate plan may be the creation of a plan for the distribution of your assets upon your death; however, simply devising a plan to distribute your assets to loved ones may not be enough to ensure that your loved ones are protected and provided for if something happens to you. For example, have you thought about the impact estate liquidity will have on … [Read more...] about Why Is Estate Liquidity Important?
How Using Specific Bequests Could Cost Beneficiaries their Inheritance
Parents often decide to leave one child a specific asset and provide an equalizing cash bequest to the other. This article by my friend and colleague Tereina Stidd, an estate planning expert, explores how specific bequests may provide unintended results. Read on to learn more. … [Read more...] about How Using Specific Bequests Could Cost Beneficiaries their Inheritance
The Importance of Insuring Real Estate
Transferring real estate to a trust has become a widely used tool in estate planning. Unfortunately, it’s easy to overlook important aspects of the transfer that lead to unintended consequences. My friend and colleague Tereina Stidd, an estate planning expert, reveals how, with careful planning, you can avoid these traps. Read on to learn more. … [Read more...] about The Importance of Insuring Real Estate
Elder Sexual Abuse – Is a Loved One at Risk?
Elder abuse is certainly not a new phenomenon; however, a larger elderly population coupled with increased awareness has brought the issue of elder abuse to the forefront of the American consciousness. When most people think of elder abuse, they tend to focus on the threat of physical abuse or emotional neglect. However, there is another type of elder abuse that frequently is not discussed -- elder sexual abuse. What You Need to Know about Elder Sexual Abuse Sadly, the elderly often make … [Read more...] about Elder Sexual Abuse – Is a Loved One at Risk?
Charitable Planning in Times of Crisis
During times of uncertainty, we tend to feel helpless. This article by friend and colleague Tereina Stidd, an estate planning expert, explores how charitable giving gives us a sense of purpose in trying times. Read on to learn more. … [Read more...] about Charitable Planning in Times of Crisis
The Kiddie Tax is No Child’s Game
If you set up a trust or other investment vehicle for your child, that child could incur taxes at a rate much higher than anticipated. The Kiddie Tax was enacted to prevent parents from transferring investments to the name of their child or children to take advantage of that child’s lower tax rate. My friend and colleague Tereina Stidd, an estate planning expert, has commented on this tax. Read on to learn more. … [Read more...] about The Kiddie Tax is No Child’s Game
If I Am Using a Family Wealth Trust Do I Still Need a Pour-Over Will?
Like many people you may choose to establish a Family Wealth Trust to use as your primary method of distributing your estate. One mistake you do not want to make, however, is eliminating a Will completely from your overall estate plan. Let's see why you should include a Pour-Over Will in your estate plan even if your plan relies on a Family Wealth Trust to distribute the bulk of your estate. Your Last Will and Testament A Last Will and Testament is a legally binding testament, usually in … [Read more...] about If I Am Using a Family Wealth Trust Do I Still Need a Pour-Over Will?
