Bet you never thought to compare your estate planning attorney to your eye doctor. But the experience is similar. Both your estate planning attorney and your eye doctor ask you questions to determine the right prescription for you. “Do you like it this way or that way?” “Which is clearer number 3 or number 4?” This is customized analysis, necessary to determine your prescription for both estate planning and glasses. In fact, sometimes the estate planning attorney determines that you don’t … [Read more...] about How Your Estate Planning Attorney is Similar to Your Eye Doctor
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Choosing a Corporate Fiduciary Trustee
Sometimes a corporate fiduciary is named as a trustee or a co-trustee with a trusted family member or friend. A corporate fiduciary is, simply, a bank or trust company. Many are experienced, good with money, and trust worthy. Teamed with a family member, who cares about you, this arrangement can be helpful for those who don’t want to burden a family member or friend with all of the responsibilities of trust administration. The pros of naming a corporate fiduciary as trustee Corporate … [Read more...] about Choosing a Corporate Fiduciary Trustee
When a Will Helps and When it Doesn’t Help
If you’re like most people, you may be startled to learn that your will won’t do what you think it should do. A will is effective for naming guardians for minor children, naming an executor, and directing assets titled in your individual name or payable to your estate. A will may not control all property because of the way most property is owned. For example, consider Marv’s will. Marv’s will provides that all of his assets go to his children upon his death because he spouse, his second … [Read more...] about When a Will Helps and When it Doesn’t Help
CONGRESS PASSES THE SECURE ACT: HOW DOES IT AFFECT YOU?
The most significant action of Congress in 2019 relating to retirement and estate planning was the late December passage of the “Setting Every Community Up for Retirement Enhancement Act of 2019”, commonly known as the “Secure Act”. It was signed into law shortly thereafter and is effective January 1, 2020, for most purposes. In this and future newsletters, we will look into the provisions of the Secure Act and also some strategies to maximize benefits and minimize problems created by this … [Read more...] about CONGRESS PASSES THE SECURE ACT: HOW DOES IT AFFECT YOU?
Reasons an Estate Plan Could Be Challenged: Part 4 – Lack of Testamentary Capacity
An Estate Plan is an essential part of your planning process. But there are ways an Estate Plan can be challenged as being invalid. This is part of a series of articles by my friend and colleague Steve Hartnett, an estate planning expert, on ways an Estate Plan might be invalid and how to avoid these pitfalls. This fourth article in the series looks at testamentary capacity. Reasons an Estate Plan Could Be Challenged: Part 4 – Lack of Testamentary Capacity … [Read more...] about Reasons an Estate Plan Could Be Challenged: Part 4 – Lack of Testamentary Capacity
Reasons an Estate Plan Could Be Challenged: Part 3 – Fraud
An Estate Plan is an essential part of your planning process. But there are ways an Estate Plan can be challenged as being invalid. This is the third part of a series of articles on ways an Estate Plan might be invalid and how to avoid these pitfalls. This article looks at fraud. Reasons an Estate Plan Could Be Challenged: Part 3 – Fraud … [Read more...] about Reasons an Estate Plan Could Be Challenged: Part 3 – Fraud
Getting Together with Family for the Holidays
The holidays are a special time with family and friends. You can take the opportunity to check on elderly loved ones. It’s also a great time to discuss planning. Read this piece by my friend and colleague Steve Hartnett, an estate planning expert, to learn more. Getting Together with Family for the Holidays … [Read more...] about Getting Together with Family for the Holidays
Tax Planning for 2020
Planning is important for your income taxation during life as well as for any estate tax at death. Even though 2020 is just starting, it’s not too early to think about planning for whatever it may bring your way as shown by this article by my friend and colleague Steve Hartnett, an estate planning expert. Tax Planning for 2020 … [Read more...] about Tax Planning for 2020
T’is The Season To Think About Your Elderly Parents’ Needs
Though they come with promises of relaxation and time with family, the holidays can also be the source of a significant amount of stress. This is especially true if you have elderly parents and visiting them during the holidays makes you realize just how old they’re getting. It can sometimes come as a shock to learn that your parents are no longer as able to care for themselves as they once were, and this holiday season it may be a good time to have a discussion with your parents about their … [Read more...] about T’is The Season To Think About Your Elderly Parents’ Needs
Reasons an Estate Plan Could Be Challenged: Part 2 – Undue Influence
An Estate Plan is an essential part of your planning process. But there are ways an Estate Plan can be challenged as being invalid. This is the second part of a series of articles by my friend and colleague Steve Hartnett, an estate planning expert, on ways an Estate Plan might be invalid and how to avoid these pitfalls. This article looks at “undue influence.” Reasons an Estate Plan Could Be Challenged: Part 2 – Undue Influence … [Read more...] about Reasons an Estate Plan Could Be Challenged: Part 2 – Undue Influence
