Estate Planning News + Trends
Commonly asked questions and trending topics of discussion. Search previous topics of discussion below.
Powers of Attorney: More Important Than Ever
Powers of Attorney have never been more important than they are in the current environment. The costs and consequences of not having Powers of Attorney in place far exceed the cost of having the documents prepared. Every adult who is responsible for his or her own...
Your Estate Planning Goals
Estate planning is about much more than just who will receive your assets after death. Proper estate planning can reduce the cost, time and likelihood of conflict when your assets are to be transferred to your loved ones. Planning for specific circumstances, such as...
The Costs of Procrastinating on Your Estate Planning
1. Estate planning encompasses more than just taxes and asset distribution. 2. Failing to make your wishes known through legal documents increases the likelihood of unnecessary family conflict, costs and delays. 3. Having a proper estate plan ensures efficient estate...
“Queen of Soul” Left Behind a Holographic Mess
World-renowned singer Aretha Franklin died on August 16, 2018, at the age of 76 in Detroit, Michigan. Franklin’s two marriages had ended in divorce and she had four children, the first when she was only twelve years old. She reportedly left behind an estate worth...
John Singleton Survived by Outdated Will
John Singleton, writer and director of the seminal 1991 film, Boyz n the Hood, died on April 29th at the young age of 51. Singleton, who had reportedly been diagnosed with hypertension, suffered a stroke on April 17th and was in a coma for 12 days until his death....
Karl Lagerfeld’s Cat May Inherit Estate
Renowned fashion designer, Karl Lagerfeld, died on February 19, 2019, at the age of 85. Lagerfeld was not married and did not have any children, but he is survived by his cat, “Choupette.” With nearly 300,000 Instagram followers (@choupettesdiary), Choupette is a...
Your Estate Planning Goals
> Estate planning is about much more than just who will receive your assets after death. > Proper estate planning can reduce the cost, time and likelihood of conflict when your assets are to be transferred to your loved ones. > Planning for specific...
U.S. Supreme Court Rules on Beneficiary Designation Dispute
> Relying on state or federal laws to administer your estate is never advisable. > Beneficiary designations supersede the provisions of a Will or Trust. > By organizing your assets as a part of your estate planning, you can ensure that designations are...
Estate Planning for the Single Person
> Every legal adult should ensure that his or her wishes are clearly stated in proper estate planning documents. > Safety nets available to married individuals with children are not as reliable for single individuals. > Failing to plan can burden loved...
Expensive Gaps in Estate Tax Planning
POWER POINTS > In an effective estate plan, both federal and state estate taxes must be considered. > Flexibility is essential to allow the trustee to maximize the available exemptions or defer estate tax liability for as long as possible. > Understanding the...