Does Your Estate Plan Protect Your Adult Beneficiaries?

Does Your Estate Plan Protect Your Adult Beneficiaries? If you think you only need to create discretionary lifetime trusts for young beneficiaries, problem beneficiaries, or financially inexperienced beneficiaries, then think again.  In this day and age of frivolous lawsuits and high divorce rates, discretionary lifetime trusts should be considered for all of your beneficiaries, minors […]

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Trust Funding: Is Everything Titled Correctly?

Trust Funding: Is Everything Titled Correctly? Working with an attorney to draft a trust agreement for estate planning purposes is an important step. But just getting the document drafted and signed is not enough. For any trust to be effective, you must complete the process of funding your trust as soon as you can. But […]

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How to Talk to Mom and Dad about Creating an Estate Plan

How to Talk to Mom and Dad about Creating an Estate Plan Conversations about death and dying are rarely fun. Most people avoid them because they invoke feelings about our inevitable demise. Broaching this subject can be particularly difficult for parents and their adult children. Adult children may avoid bringing up the topic because they […]

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Estate Tax Returns—Not as Scary as They Sound

Estate Tax Returns—Not as Scary as They Sound When an individual passes away, tax issues are one of the many things that must be considered. For most individuals who pass away, a final income tax return must be filed with the Internal Revenue Service (IRS) and state (if the particular state also taxes income) to […]

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Deeper Dive into Advance Healthcare Directives in Uncertain Times

Deeper Dive into Advance Healthcare Directives in Uncertain Times When it comes to your healthcare, especially during these uncertain times, you should make sure that two estate planning documents in particular are up to date. The first is your healthcare power of attorney, commonly referred to as a healthcare proxy. This document allows you to […]

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Letter of Instruction for Your Estate Plan

Letter of Instruction for Your Estate Plan Whether you are starting from scratch or have an estate plan in place a letter of instruction (LOI) is an important part of any comprehensive plan. A letter of instruction can help your loved ones manage important information about you. A LOI conveys your desires, includes practical information […]

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Estate Planning Strategies to Consider in an Election Year

Estate Planning Strategies to Consider in an Election Year With a push by the Democratic party to return federal estate taxes to their historic norms, taxpayers need to act now before Congress passes legislation that could adversely impact their estates. Currently, the federal estate and gift tax exemption is set at $11.58 million per taxpayer. […]

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