Estate planning is a comprehensive plan that can include managing and using your accounts and property during your lifetime as well as their disposition after your death. At its most basic, it is a thorough plan to take care of the future financial needs of your loved ones. A financial power of attorney (POA) is […]
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Would it surprise you to learn that the percentage of people aged fifty-five and older who have created estate planning documents has dropped from 60 percent in 2019 to 44 percent in 2021? That is what Caring.com discovered in their 2021 Wills and Estate Planning Study. So while drafting your Last Will and Testament and […]
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The Biden administration has been exploring the idea of eliminating the step-up in basis rule or at least modifying it. The American Families Plan Fact Sheet says that: “The President would eliminate the loophole that allows the wealthiest Americans to entirely escape tax on their wealth by passing it down to heirs. Today, our tax […]
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An estate plan is a comprehensive plan that expresses your wishes regarding your legal, medical, and financial affairs if you are incapacitated or upon your death. The person or entity you choose as your executor or trustee must be able to step in to make decisions for you. This person must be someone you trust […]
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A trust is a written agreement between a grantor, the person who establishes the trust, and the trustee appointed to manage and administer it. In a revocable living trust, the grantor will typically also serve as the initial trustee. A grantor will name a successor trustee to manage the trust when they can no longer […]
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Congratulations! If you’re reading this, you’re probably starting or have recently started a new job. The onboarding process can be intimidating, especially when it comes to reviewing employee benefits and your options. As human resources sends you form after form, it is critical that you carefully review them to ensure that your choices reflect your […]
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Children are born inside and outside of marriage every day. Historically, both society and the law treated a child born outside a marriage unfairly. They had no right to inherit from either parent, in many cases. Eventually, children had the means to inherit from their mothers, but rarely their fathers. In the late 1960s, the […]
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The chances of a married couple dying in the same accident or within a short period of time are probably quite low. It does, however, occur. And it happens often enough that most states have laws in place to address the issue and the problems that can arise as a result of both partners dying […]
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In honor of Teacher Appreciation Week, which takes place the first week of May, we’d like to thank you for your time and dedication to teaching the next generation. You provide the necessary foundational knowledge to ensure the success of tomorrow’s leaders. Estate planning documents are an essential piece of planning for your success. The […]
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May is considered National Home Remodeling Month. It makes sense as spring is frequently associated with cleaning, making updates, completing projects, and cleaning out any accumulated winter dirt. Perhaps, you have completed those chores, and your home is in great shape. Do your estate planning documents need to be remodeled? Estate planning is a topic […]
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