Category: Estate Planning

Give Your Heirs a Fair Shake

12/7/2022

For some simple estates, all you may need to do is split your assets in equal proportions among heirs. In other instances, however, you have more complex issues to confront: How can you apportion a family business, especially one to which all beneficiaries do not contribute the same sweat equity? How should you approach real estate, such as a house or vacation home? How can you achieve the most tax-efficient division of your property?

Gift Characterizations Cast Long Shadows

8/17/2022

Back in 1913, Woodrow Wilson began his first term as president, and Americans first filed Form 1040s. Right from the beginning, Congress told the IRS to enforce rigid rules for compensation and to forget about gifts. The IRS followed orders.

Planning Issues for Blended Families

1/19/2022

If you're in a second marriage, you and your spouse may both have children from previous relationships. You don't necessarily have the same level of income or savings. You also come to the marriage with different life insurance policies and retirement plans. It isn't going to be easy to create a long-term estate plan, but it is possible if you and your spouse are honest and flexible.

What You Don't Know About Estate Planning

10/6/2021

Estate planning is about defining and living out your legacy during your lifetime. It enables you to enjoy the impact your plan has on the people and organizations you support. But there are a lot of myths that still need debunking:

Exploding 6 Estate-Planning Myths

6/2/2021

Estate Plan Building Blocks

1/28/2021

You may be convinced that you need an estate plan, but you're fuzzy about what it covers and even how to make one. One great place to start is to determine your net worth. Add up rough estimates of the values of your assets, including bank and investment accounts, jewelry, collectibles, cars and boats, as well as retirement plans. Don't forget the death benefit from your life insurance. Add to that any business interests or money owed to you and, of course, real estate.

Now Is the Time To Revisit Your Estate Plan

8/12/2020

The physical and financial health challenges caused by the COVID-19 pandemic gave us time to rethink our priorities and expectations. Estate planning is one area that has received a lot of attention, and for good reason. Here are three basic areas to review as you reassess your estate plan:

How Long Since You've Reviewed Your Estate Plan?

1/29/2020

Major life changes, whether good or bad, can be so overwhelming that we fail to realize just how deeply they affect our estate plan. For example, if you get divorced, you need to update not only your will but also your 401(k) beneficiary designation, since the latter trumps your will.

How to Avoid the Top 10 Estate Planning Errors

11/6/2019

There are myths and misconceptions about estate planning. Here are the top common mistakes to avoid and help your family save thousands of dollars in unnecessary taxes and probate fees:

Taking Care of Your Heirs

3/27/2019

Many people find it hard to come to terms with their own mortality, which can make transitioning wealth from one generation to the next very difficult. But putting it off, and worse still, not dealing with it, can be one of the worst mistakes we can make.

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