Estate tax planning and income tax planning are rapidly evolving, and if you haven’t updated your estate planning documents in a few years, there’s a strong chance your outdated paperwork may no longer be valid or, at best, not work as income and/or estate tax advantageously as it should. Also, in December 2017, Congress passed […]
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There are several threats and obstacles to successful estate planning that need to be overcome. Poor estate planning can lead to heartache, confusion, expense, and even disaster for the loved ones left behind after the death of an estate holder. Without adequate planning and clear instructions, families experience conflict and uncertainty that can almost always […]
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Please allow us to be frank. It’s unrealistic to think that a piece of paper you draft, reflecting your life at a certain time, will work when your life has completely changed some years later. We’ll use the Kendrick family as an example. Meet the Kendricks Meet Bill and Karen Kendrick. They got their first […]
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Estate plans are almost magical: they allow you to maintain control of your assets, yet protect you should you become incapacitated. They take care of your family and pets. And, if carefully crafted, they reduce fees, taxes, stress, and time delays. Estate plans can even keep your family and financial affairs private. But one thing […]
Read MoreConfused about the differences between wills and trusts? If so, you’re not alone. While it’s always wise to contact an expert, it’s also important to understand the basics. Here’s a quick and simple reference guide: What Revocable Living Trusts Can Do – That Wills Can’t Avoid a conservatorship and guardianship. A revocable living trust allows […]
Read MoreMost people understand that having some sort of an estate plan is, as Martha Stewart would say, a “good thing.” However, many of us don’t take the steps to get that estate plan in place because we don’t understand the nuances between wills and trusts – and dying without either. Here’s what will generally happen […]
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Considering the myriad of trusts available, creating an estate plan that works can seem daunting. However, that’s what I, as an estate-planning attorney, do every day. I know the laws and will design a plan which addresses your specific situation. With a wide variety of protections and choices, these types of trusts support financial planning […]
Read MoreTrusts allow you to avoid probate, minimize taxes, provide organization, maintain control, and provide for yourself and your heirs. In its most simple terms, a trust is a book of instructions wherein you tell your people what to do, when. While there are many types of trusts, the major distinction between trusts is whether they […]
Read MoreI understand that it feels hard to get around to estate planning; it sounds about as fun as getting a root canal. However, I also understand that we all want to make sure that our loved ones are protected and receive our hard-earned assets – regardless of whether we have $10 million or $10,000. We also all […]
Read MoreHow Well Does the Corporate Veil Protect Your Personal Assets? After much due diligence, speaking with lawyers and business advisors, you decided that the asset protection afforded by a corporation or limited liability company (LLC) is important to you. You worked through the tax implications for all the different business entities with your CPA and […]
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