This article by my friend and colleague Steve Hartnett examines the death of Charlotte Fox, one of the most famous mount climbers ever, who fell down her stairs at home. You never know what risks might be around the corner, so you should be prepared. The article looks at the elements of a basic plan. Planning for the Unexpected … [Read more...] about Planning for the Unexpected
Legal Education
6 Important Estate Planning Considerations – Part 5: Retirement Assets
Retirement assets may be a very large part of a person’s estate at death. It’s important to consider the income tax ramifications of naming a beneficiary, as well as protecting those assets for the beneficiaries. This article, by my friend and colleague Steve Hartnett, an estate planning expert, considers some of these issues. 6 Important Estate Planning Considerations – Part 5: Retirement Assets … [Read more...] about 6 Important Estate Planning Considerations – Part 5: Retirement Assets
6 Important Estate Planning Considerations – Part 4: Beneficiary Designations
Beneficiary designations can be a simple way to pass assets at death. While beneficiary designations avoid probate, they may introduce other problems. This article, by my friend and colleague Steve Hartnett, an estate planning expert, shows how a revocable trust can provide a more flexible way to achieve a client’s goals. 6 Important Estate Planning Considerations – Part 4: Beneficiary Designations … [Read more...] about 6 Important Estate Planning Considerations – Part 4: Beneficiary Designations
6 Important Estate Planning Considerations – Part 3: Your Kids
An estate plan considers not just to whom assets should go, but also how. Each beneficiary is unique and the estate plan should consider their unique situation. This article, by my friend and colleague Steve Hartnett, an estate planning expert, looks at a couple with three very different children and how they might leave the assets for them in three very different ways. 6 Important Estate Planning Considerations – Part 3: Your Kids … [Read more...] about 6 Important Estate Planning Considerations – Part 3: Your Kids
Estate Planning is Too Important to Procrastinate
Only 44% of Americans have even a simple Will. We procrastinate for several reasons. Learn those reasons and how to push past them. My friend and colleague Steve Hartnett, an expert in estate planning, explaing why planning is important. Estate Planning is Too Important to Procrastinate … [Read more...] about Estate Planning is Too Important to Procrastinate
Treasury Releases New Inflation Adjustment on Taxes
The new tax law doubled the estate tax exclusion through 2025. This article, by my friend and colleague Steve Hartnett, an experienced and qualified estate planning attorney, looks at the exact amount of the new exclusion (it’s not what you thought) and how it might be useful. The article also examines why there’s no reason not to take advantage of the newly-doubled exclusion. Treasury Releases New Inflation Adjustment … [Read more...] about Treasury Releases New Inflation Adjustment on Taxes
How Are You Planning for Long-Term Care (LTC) Expenses?
What’s the right direction for you in planning for future medical expenses? The odds are even that you’ll need long-term care (LTC) after age 65, at least for a while. Here, my friend and colleague Steve Hartnett, an experienced and qualified estate planning attorney, explores some possible paths for covering those potential costs. How Are You Planning for Long-Term Care (LTC) Expenses? … [Read more...] about How Are You Planning for Long-Term Care (LTC) Expenses?
Basis is Important in Estate Planning – Part 2
When choosing the direction to take in estate planning, it’s important to consider the impact of the proposed estate plan on income tax basis. Basis is often overlooked when estate planning strategies are considered. This second of a two part article by my friend and colleague Steve Hartnett, an experienced and qualified estate planning attorney, examines how common estate planning strategies impact income tax basis. Income Tax Basis in Estate Planning – Part 2 … [Read more...] about Basis is Important in Estate Planning – Part 2
Basis is Important in Estate Planning – Part I
When choosing the direction to take in estate planning, it’s important to consider the impact on income tax basis. This first of a two part article by my friend and colleague Steve Hartnett, an experienced and qualified estate planning attorney, examines the nature of basis and follows an example from acquisition of property to death and looks how basis is adjusted along the way. Since the property is included at death, the basis receives a step-up to the value of the property at death. Upcoming … [Read more...] about Basis is Important in Estate Planning – Part I
6 Important Estate Planning Considerations – Part 2: Long-Term Care
Many considerations must be addressed in an estate plan, not just who gets whatever’s left after your death. Long-Term Care expenses are an ever-increasing concern. Your estate plan should consider how those expenses would get paid. This article by my friend and estate planning expert Steve Hartnett looks at several ways to plan for those expenses. 6 Important Estate Planning Considerations – Part 2: Long-Term Care … [Read more...] about 6 Important Estate Planning Considerations – Part 2: Long-Term Care
