Individuals who undertake Estate Planning want to ensure that their plan works the way it’s intended. When clients neglect to consider Estate Planning on a regular basis, they set themselves up for failure. Waiting until an emergency arises almost guarantees that the plan will fail when needed the most. Estate Planning completed under duress can lead to unfavorable results. My friend and colleague Steve Hartett, an estate planning expert, shares her views. Read on to learn more. … [Read more...] about Practical Lessons in Drafting
Legal Education
Double Your Gifting with Spousal Gift-Splitting
As you plan your strategy for 2022, it’s important to consider gifting, including spousal gifts. Your spouse could double your ability to make gifts of “annual exclusions” without being considered to have made a gift for estate tax purposes. My friend and colleague Tereina Stidd, an estate planning expert, shows how. Read on to learn more. … [Read more...] about Double Your Gifting with Spousal Gift-Splitting
Using Entities in Estate Planning
More and more families own property, assets, and businesses together. Using an entity to govern operations provides stability by allowing continued operation upon the death of an owner. When the governing agreement and estate planning documents of a deceased owner conflict, unintended, potentially litigious, results occur. My friend and colleague Tereina Stidd, an estate planning expert, has some thoughts. Read on to learn more. … [Read more...] about Using Entities in Estate Planning
The Sky Isn’t Falling
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
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
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
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
