Estate Planning News + Trends
Commonly asked questions and trending topics of discussion. Search previous topics of discussion below.
Guest Blog: Life Insurance Basics, Part 1 of 2
I get many questions regarding life insurance, and while I am happy to advise on the many estate and gift tax consequences related to life insurance, I leave the recommendations of why, how much and why to the life insurance experts. The information below is provided...
The Biggest Wastes of Money in Estate Planning
POWER POINTS: You are better off doing your estate planning right the first time. Estate planning must be customized to your needs in order to be effective. The estate planning process of basic planning, funding and advanced planning and maintenance serves to...
The Costs of Procrastinating on Your Estate Planning
POWER POINTS: Estate planning encompasses more than just taxes and asset distribution. Failing to make your wishes known through legal documents increases the likelihood of unnecessary family conflict, costs and delays. Having a proper estate plan ensures efficient...
What’s the Point of Estate Planning?
The purpose of estate planning is to make sure that your assets are protected during your life and pass as easily as possible to your loved ones after you are gone. It should be easy--it's your money, you should be allowed to do with it as you please--but when courts,...
Phillip Seymour Hoffman’s Questionable Estate Plan
Actor Phillip Seymour Hoffman was found dead in his Manhattan home on February 2nd from an apparent drug overdose. Hoffman was 46 years old and was not married but had three minor children with his girlfriend, Marianne O’Donnell. He left behind a Will which was...
Three Reasons Irrevocable Trusts Fail
All trusts fall under one of two categories: revocable or irrevocable. These trusts differ in several significant ways, including their purpose, asset ownership and use, tax treatment and annual maintenance requirements. This newsletter will briefly discuss the...
Paul Walker: $45 Million Estate, No Estate Planning?
Paul Walker, star of the popular The Fast and The Furious film series, died on November 30th at the young age of 40 in a high-speed car accident. Walker was never married but was reportedly living with his girlfriend of seven years, Jasmine Gosnell, and is survived...
A Guide to Organizing Your Assets
Estate planning not only ensures that your assets are distributed to your loved ones at your death as efficiently as possible and in accordance with your wishes, but also presents a great opportunity for organizing your assets during your life. By doing so, you can...
Link: Asset Protection
Some good information in this article, but make sure to consult an attorney for details on the costs and benefits of these techniques. Each situation is different and general articles and information may not apply to you. Additionally, it should be noted that...
Link: State Estate Taxes
A good read on the various state estate tax systems and issues to be considered: Article: States continue to claim their share through the estate tax It's not just about the federal estate tax. Make sure your attorney understands the state estate tax and takes it...