When we learned of the original provisions in the Build Back Better Act, many individuals panicked, rushing to complete Estate Planning or seeking to undo certain aspects of their estate plan. As the Build Back Better Act has evolved, many wondered if they should have waited before making significant changes to their estate plan. No matter what happens with the Build Back Better Act, an estate plan centered on long-term goals will serve you well. My friend and colleague Tereina Still, an estate … [Read more...] about The Sky Isn’t Falling
Living in a Digital World and the Importance of Planning for Cryptocurrency
Cryptocurrency has become increasingly popular as a form of investment in recent years. More and more established financial institutions recognize cryptocurrency and allow its use. As cryptocurrency becomes mainstream, it’s important to consider estate planning implications for holding this digital asset. My friend and colleague, attorney Tereina Stidd, an estate plannng expert, has some useful tips. Read on to learn more. … [Read more...] about Living in a Digital World and the Importance of Planning for Cryptocurrency
Tax Planning for 2022
Planning is important for your income taxation during life as well as for any estate tax at death. Even though 2022 is just starting, it’s not too early to think about planning for whatever it may bring your way. My friend and colleague Steve Hartett, an estate planning expert, has some thoughts. Read on to learn more. … [Read more...] about Tax Planning for 2022
Try This New Year’s Resolution: Review Your Estate Plan
As the New Year looms, review your estate plan to help maintain it in good shape. Most people are familiar with the television personality, Ron Popeil. His tagline? "Set it and forget it!" While this might work for your slow cooked roast, it does not work for your estate plan! Reviewing your plan each year will help keep your Estate up-to-date and avoid time-consuming (and sometimes costly) issues for your successors. 1. Beneficiary Designations. Make sure the beneficiary designations … [Read more...] about Try This New Year’s Resolution: Review Your Estate Plan
What You Need to Know about a Special (Supplemental) Needs Trust
A special needs trust, sometimes referred to as a supplemental needs trust, is a specific type of trust used to provide support for a special needs individual. This exceptional estate planning tool should be considered by anyone who has a child or loved one who qualifies. So what is a supplemental needs trust and why would I want to create one? A Special needs trust, or SNT, may be used for an individual who is physically or mentally disabled or who suffers from a chronic or acquired … [Read more...] about What You Need to Know about a Special (Supplemental) Needs Trust
What Is a Crummey Notice?
Although a Last Will and Testament remains the most common way to distribute an estate, a significant number of people choose to use a trust in lieu of, or in addition to, a Will to distribute their estate. If you are named as a beneficiary of a trust, it usually means you are entitled to distributions from the trust according to the terms created by the Settlor. What does it mean though if you receive a “Crummy notice?” Let's find out more about a Crummy notice and what to do if you receive … [Read more...] about What Is a Crummey Notice?
Neither Age Nor Health Determines Whether You Need an Estate Plan
Most people associate Estate Planning with the elderly or very wealthy. This article by my friend and colleague, attorney Tereina Stidd, an estate plannng expert, explores situations in which Estate Planning for the young and healthy is advisable. Read on to learn more. … [Read more...] about Neither Age Nor Health Determines Whether You Need an Estate Plan
It Can Be Scary to Die Without an Estate Plan…the HORRORS of Intestacy
Many souls believe that if they lack means, they do not need an estate plan. Nothing could be further from the truth. If you die without an estate plan, your assets may not be distributed as you would wish and the results could be downright scary. My friend and colleague, attorney Tereina Stidd, an estate plannng expert, has some thoughts on this issue. Read on to learn more. … [Read more...] about It Can Be Scary to Die Without an Estate Plan…the HORRORS of Intestacy
Seniors – How to Avoid Holiday Scams
During the holidays most people make an extra effort to be friendly and embrace the spirit of the season. Unfortunately, scam artists make a point of using the holiday spirit to target people – and these predators frequently target the elderly. Below we'll explain how seniors can avoid becoming the victim of a holiday scam. Why Are Seniors Common Targets of Holiday Scams? There are several reasons why scam artists are more active during the holidays. First, it is the busiest shopping … [Read more...] about Seniors – How to Avoid Holiday Scams
Don’t be a Turkey – Use Your Annual Per Donee Exclusion Amount
As fall turns into winter and the holiday season arrives, it’s natural to review the year, plan for the next, and count your blessings. One of the ways to plan for the next year, and perhaps to address some outstanding concerns in this one, is to consider making annual per donee exclusion gifts. This article by my friend and colleague, attorney Tereina Stidd, an estate plannng expert, will explore annual exclusion gifting and demonstrate how gifts of seemingly modest amounts can be a powerful … [Read more...] about Don’t be a Turkey – Use Your Annual Per Donee Exclusion Amount
