Each day, many parents with young children put off the important task of planning for the future. It can be easy to become busy with life’s everyday events. If you are a parent, you need to take the time to create an estate plan. This will allow you to make sure that your children are protected in the future. Are you unsure about the need for an estate plan? If so, consider the following questions: What will happen if you become disabled or die tomorrow? Who will care for your … [Read more...]
Clarity is Key to Planning
Clarity is essential in an estate plan. This article by my friend and colleague Steve Hartnett, an estate planning expert, examines the case of Tom Petty, what he did right and what he did wrong. It shows that clarity can avoid problems later. Clarity is Key to Planning … [Read more...]
Consequences of Modifying an Irrevocable Trust
Irrevocable trusts often can be modified. They can be modified under the Uniform Trust Code or a state law decanting. While these modifications may be determinative of the state law consequences, they may not determine federal tax consequences. Read this blog, by my friend and colleague Steve Hartnett, an estate planning expert, to learn more. Consequences of Modifying an Irrevocable Trust … [Read more...]
Why Crowdfunding May Cost You Medi-Cal Eligibility
Each year, crowdfunding websites raise money for causes. Did you know such a website could impact your eligibility to receive Medi-Cal? Read this blog by my friend and colleague Steve Hartnett, an estate planning expert, to learn how crowdfunding can impact Medi-Cal eligibility. Why Crowdfunding May Cost You Medicaid Eligibility … [Read more...]
Many Reasons to Plan
Each of us will die eventually. This article by my friend and colleague Steve Hartnett, an estate planning expert, looks at how planning can make our passing easier for our loved ones. Specifically, this article looks at how planning can maintain privacy for your loved ones. Many Reasons to Plan … [Read more...]
Understanding Revocable Living Trust Terms
If you’re researching the revocable living trust, you may be confused about some of the terms. It’s important to make sure that you understand all aspects of this estate planning tool so that you can properly use it in your plan. Take a look at the information below to learn more. If you have any questions, or if you’d like to discuss creating a revocable living trust, meet with an experienced, qualifief estate planning attorney. Trust document – Your trust document spells out all of your … [Read more...]
How to Choose Trustees, Guardians and Agents
Part of the task of estate planning or updating an estate plan is to select trusted persons or entities to fill the positions of trustees, guardians, power of attorney agents, health care agents and executors. In order to make good decisions, you need to know the ideal characteristics of each role. Trustee of trust for minors. The trustee of the trust for your minor children or grandchildren will likely be the same as your settlement trustee. If you have the children joining as a … [Read more...]
Using Professionals in Your Estate and Elder Care Planning
While handling all of your estate planning and future planning needs, it’s important to work with qualified, experienced professionals. This can allow you to get expert advice and can also ensure that all of your needs are met. If you’re unsure of how professionals can help you with your planning, take a look at the following information. Estate and Elder Care Planning Attorney Have you not yet hired an estate and elder care planning attorney? Now is the time to do so! A qualified, … [Read more...]
Tips for Choosing Fiduciary Roles in Your Estate Plan
Creating a comprehensive estate plan requires you to make numerous important decisions. Although many of those decisions are directly related to the distribution of your estate assets after you are gone, not all of them are. In fact, some of the most influential decisions you will make within your estate plan are often the ones people spend very little time making. These are decisions related to fiduciary roles within your plan. Choosing people for the fiduciary roles within your estate plan … [Read more...]
Kiddie Tax is Worse Than Ever
The Kiddie Tax can apply to the unearned income of children. Read this blog by my friend and colleague Steve Hartnett, an estate planning expert, to learn if this tax applies to you or your children. Also, learn ways to avoid the Kiddie Tax. Kiddie Tax is Worse Than Ever … [Read more...]
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