Tag Archives: Beneficiary Designations
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 … more
John Singleton Survived by Outdated Will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 … more
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 … more
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. … more
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 … more
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 … more
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. … more
The Empty Trust
POWER POINTS > The end of the year presents a great opportunity to review your estate plan, your newly acquired assets and the funding of your Trust. > An unfunded Trust fails to take advantage of one of the greatest … more
Painless Estate Planning
Creating a responsible estate plan does not have to be as painful or difficult as many people believe. As a matter of fact, the whole process can be completed within a few weeks. More importantly, once it is complete, you … more
Decanting a Trust – What it Means and When it Should be Considered
> Is this about wine? Unfortunately, no. > What does it mean to decant a trust? Trust decanting is the process of pouring the assets of one irrevocable trust (the “original trust”) into a second irrevocable trust with more desirable … more
