It’s rare that a movie centers on an archaic estate planning issue, but that’s exactly what Martin Scorsese’s latest film does. Recently Killers of the Flower Moon was released in theaters to critical acclaim. That’s no surprise. The surprise is that the central conflict of the movie focuses on several Estate Planning issues and provides real-life lessons for all of us. My friend and colleague Tereina Stidd, an estate planning expert and film buff, takes us to the movies. Read on to learn more. … [Read more...] about Estate Planning Lessons from the Movies – Part I
BLOG
Estate Planning and Long-Term Care Insurance
Integrating long-term care insurance into your estate planning is a strategic move to protect your assets and ensure you have the necessary care in your later years. Long-term care can be expensive, and without proper planning, the costs can significantly impact your estate and the financial legacy you wish to leave. Here's how long-term care insurance plays a role in estate planning: 1. Protecting Assets Long-term care insurance can help protect your estate's assets. Without this … [Read more...] about Estate Planning and Long-Term Care Insurance
Planning for Education Expenses in Your Estate Plan
Incorporating education expenses into your estate plan is an effective way to ensure the educational goals of your beneficiaries are met. Whether you're planning for children, grandchildren, or other family members, setting aside funds for education can be a lasting and impactful part of your legacy. Here are key aspects to consider: 1. Establishing Education Trusts Creating a trust specifically for educational expenses can provide a structured way to fund beneficiaries’ education. You can … [Read more...] about Planning for Education Expenses in Your Estate Plan
Understanding the Interplay of State Estate and Inheritance Taxes with Federal Estate Tax
When individuals consider estate planning, they often look to federal law to determine the potential tax ramifications for their estate and beneficiaries. Some may neglect to consider the impact of state estate taxes which vary widely from state to state. My friend and colleague Tereina Stidd, an estate planning expert, has looked into the issue. Read on to learn more. … [Read more...] about Understanding the Interplay of State Estate and Inheritance Taxes with Federal Estate Tax
Let’s Talk Litigation
Anyone creating an Estate Plan wants to ensure that the plan will work as intended and will withstand legal challenges. Sometimes though, a legal challenge is necessary to ensure that the Estate Plan reflects the true intent of the decedent is carried out and that the fiduciaries act in accordance with their duties. This article by my friend and colleague Tereina Stidd, an estate planning expert, examines the most common ways that litigation arises in the Trusts and Estates arena. Read on to … [Read more...] about Let’s Talk Litigation
How a Buy-Sell Agreement Affects Estate Planning
Navigating the complexities of business ownership involves more than just day-to-day operations. It's about envisioning the long-term continuity of the business, even beyond one's active involvement. A key tool in achieving this vision is the Buy-Sell Agreement, especially when considering estate planning. In conclusion, incorporating a Buy-Sell Agreement into estate planning is a proactive step that business owners can take to safeguard the company's future, protect their family's … [Read more...] about How a Buy-Sell Agreement Affects Estate Planning
Lessons from Matthew Perry’s Passing: There’s No Better Way to Say “I’ll Be There for You” than with an Estate Plan
Matthew Perry died at the end of 2023. While it seems unlikely that Matthew’s estate will end up embroiled in a court battle as we see with other celebrity estates, that doesn’t mean that we can’t learn anything from his death and Estate Plan. My friend and colleague Tereina Stidd, an estate planning expert, explains why. Read on to learn more. … [Read more...] about Lessons from Matthew Perry’s Passing: There’s No Better Way to Say “I’ll Be There for You” than with an Estate Plan
The View from Heckerling 2024
Each year the University of Miami sponsors the Heckerling Institute on Estate Planning. The 58th Institute took place in Orlando, Florida in January 2024. The Institute is widely regarded as the premier estate planning program in the country as thousands of attorneys, trust officers, financial planners, and related parties descend upon the Orlando World Center Marriott Resort and Convention Center for a week-long educational and networking conference. My friend and colleague Tereina Stidd, an … [Read more...] about The View from Heckerling 2024
How to Minimize Family Fighting and Disputes After You’re Gone
Experiencing the loss of a loved one is emotionally taxing, and disputes over assets can intensify this distress. An estate plan's primary aim is not only to distribute assets according to the deceased's wishes but also to minimize potential conflicts. Here's how to reduce the risk of family disputes after your passing: Minimizing disputes after your passing requires foresight, clear communication, and expert guidance. It's a gift of peace you offer your loved ones during an already … [Read more...] about How to Minimize Family Fighting and Disputes After You’re Gone
Understanding Beneficiary Designations
Beneficiary designations play a pivotal role in financial and estate planning, offering a direct method to specify who will receive certain assets upon the owner's death. These designations are typically associated with specific types of assets and can often bypass the probate process. Delving deeper into this mechanism helps highlight its significance and nuances. Beneficiary designations are a powerful yet often overlooked tool in estate planning. Their ability to direct asset … [Read more...] about Understanding Beneficiary Designations
