Estate Planning News + Trends
Commonly asked questions and trending topics of discussion. Search previous topics of discussion below.
New Digital Asset Law May Be a Double-Edged Sword
> The Revised Uniform Fiduciary Access to Digital Assets Act protects custodians to a greater extent than it empowers principals, agents or administrators. > An “online tool” offered by a custodian will supersede the direction in a will, trust or power of...
The Importance of Funding Your Trust
> It is important to revisit your estate plan from time to time to ensure that it accurately reflects your wishes for your family and assets. > An unfunded Trust fails to take advantage of one of the greatest benefits of a Trust…the avoidance of probate. ...
Beware of Non-Specific Estate Planning Advice
> Estate tax and administration laws are state-specific, so articles and general advice must be taken with a grain of salt. > A proper estate plan is based on your specific family and financial situations and tailored to achieve your goals. > Nuances matter...
Asset Protection Through Estate Planning – Update
> The benefits of asset protection must be considered when you are building wealth, not when you need to protect it. > Transfers of property that occur specifically for the purposes of hindering, delaying or defrauding creditors are considered fraudulent. >...
Prince Leaves a Complex, Unplanned Estate
> Without an estate plan, Prince’s half-siblings will stand to inherit the same share as his full-sibling. > Failure to plan for a potential estate tax liability may lead to a forced liquidation of estate assets, including his vault of unreleased music. >...
Kurt Cobain’s Estate Exposed in Daughter’s Divorce
> Proper advice and planning can protect inheritances from creditors, bankruptcy and divorce. > Non-marital property that is commingled with or treated as marital property will also be subject to equitable division upon divorce. > While divorce is a...
David Bowie’s $100 Million Estate
> While estate taxes cannot always be avoided, they can be minimized through proper planning. > Privacy and probate avoidance can benefit estates of all sizes, not just celebrity estates. > If specific funeral wishes are important, they should be clearly...
Titans Owner Left Team in Limbo
> Proper planning is necessary to keep a closely-held business in the family. > Failing to plan for ownership and financial transitions can lead to a forced sale or family conflict. > Trust ownership can allow for a smooth transition without the asset having...
The Missing Will
> If the original Will cannot be located, state law and the probate court will determine whether a copy can be accepted. > It is important to locate your original Will or have a new Will prepared and executed. > A complete estate plan can alleviate the...
Year-End Estate Planning To-Do List
> Familiarity with the terms of your documents is an essential part of having an up-to-date estate plan. > If you do not have an estate plan in place, the end of the year is an ideal time to begin planning. > Proper planning can help avoid unintended...