Our blog includes posts about a wide range of estate planning topics, including trust-based estate plans, estate planning when you have a disabled adult child, planning as part of a blended family, and planning for charitable giving. To learn more, contact our office to discuss how we can help you create an estate plan that best fits your needs.
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Still Wondering Why You Need to Review an Estate Plan?An estate plan is the guide to how you want your personal and financial affairs to be handled, in the event of your incapacity or death. As life changes, your guide changes with it.
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When Estate Planning Takes Place in a CrisisMany of us have experienced the unexpected "telephone call" from a hospital or loved one that a sudden negative medical event has occurred, involving a member of your family.
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Is Your Estate Plan Truly Complete?For an estate plan to be truly effective and do more than simply move money and assets from one generation to the next, it must accomplish three basic goals: 1) ensure that you are actually leaving your assets to those you designate; 2) make certain those assets are received at...
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How to Protect Your Legacy After You're GoneMany estate planners believe that their job is done when the beneficiaries avoid probate and receive the inheritance. However, when beneficiaries receive their inheritance in their name outright that needlessly exposes the legacy you leave to the claims of creditors, lawsuits, divorce, the loss of governmental benefits they might otherwise...
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The Hybrid Bridge TrustA fully funded foreign or off-shore protection trust provides very significant asset protection particularly for assets such as cash investments, stocks and other intangibles. However, an off- shore protection trust is more expensive to form and to manage or operate. Additional income tax filings are also required. The Hybrid Bridge...
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What You Need to Know About BasisFor many years, the focus for estate planning was minimizing estate tax. The higher estate tax credits and the potential for estate tax repeal creates a need to now focus on income tax planning. Income tax requires an understanding of basis planning. First, let's start with what "basis" means. Your...
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Tips on How to Retain your Social Security, Medical, and Retirement Benefits After Your Spouse Has PassedYour spouse dies, and after the initial grief, you find your prescription that never cost a cent before is suddenly priced at $195. Whoa! You go home grumbling to yourself — what do they mean?! Are the benefits that came through your spouse gone? If you've been receiving health insurance...
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Tips on How to Incorporate Your Digital Property into Your Estate PlanThanks to the Internet, most companies provide you with the option to receive electronic statements, set up auto payments or pay your bills online. Many businesses are in favor of these methods and support online account management and paperless billing. It’s less expensive, more convenient and more environmentally friendly for...
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Planning Opportunities to Consider If You or Your Loved Ones Are in Need of Special Needs PlanningEstate planning may be more complex for parents whose heirs have mental disabilities or other impairments that limit their ability to take care of themselves. The unique requirements of special needs children constitute a large and growing niche. The U.S. Census Bureau reports that 10 percent of American families have...
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Worried About Estate Tax? Information on Who May Be Subject to Federal and State Estate TaxesYou may be subject to state and federal estate taxes if you've gotten a windfall — but it has to be a lot. These thresholds, which are indexed for inflation, are currently over $5 million for individuals and $10 million for couples. The IRS taxes only the portion of the...
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Overview of the Different Types of Trusts Available and How You Can Use a Trust to Manage Your Family's WealthTrusts are easy to understand: they basically establish a legal entity that will hold funds or assets for the person who created the trust—called the "grantor" or "donor." The grantor will appoint an entity that will manage the trust, such as a bank or trust department, and a beneficiary—the person...
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Learn How a Life Insurance Trust Can Help Minimize Your Estate TaxA life insurance trust is a form of irrevocable trust that invests the proceeds of a life insurance policy into a trust with designated beneficiaries. Most life insurance policies are owned by the insured. The money is paid when the insured dies, but the payment made to the beneficiaries is...