Estate Planning Changes Should Keep Up with Your Life

Estate planning is never a once and done process and nothing highlights this more than someone who has failed to update their materials after a major change in their life. Your estate plan should always be reevaluated with any significant life changes such as divorce, a new marriage, births or other developments. Updating your will… Read More »

Trillions of Dollars in Cash Windfall anticipated in Coming Years

A recent study completed by Accenture estimates that between $1 trillion and $3 trillion will be transferred to beneficiaries each year through 2050. Many people, however, may not be equipped with the appropriate way to handle such an inheritance. People may be questioning what they should do next after their life has been significantly changed…. Read More »

Might You Unexpectedly Become Your Parents’ Caretaker?

Far too many families avoid talking about the process of estate planning and many people don’t even have a basic will. Problems may emerge when people are suddenly thrust into a position of managing someone’s care or organization of documents after an incapacitating event or death. Far too many people don’t realize that they are… Read More »

Is Medicaid Your Only Source of Payment for Long Term Care Planning?

As many people approach the subject of estate planning, they put together critical documents to pass on their assets after they pass away. However, they may neglect the necessary planning tools and insurance policies that could be used for long term care planning. Considering the possible need for long term care is something that everyone… Read More »

James Brown’s Estate Still in The Midst of Legal Disputes

James Brown passed away on Christmas Day in 2006 and yet disputes surrounding the settlement of his estate are still winding their way through the courts. Numerous different individuals have come forward to file disputes ranging from whether or not his widow may have truly been his wife and whether any copyrights for his songs… Read More »

What You Need to Know About the Stretch-Out Approach for IRAs

One of the ways to make the most of an inherited IRA is to use what’s known as a stretch-out approach. Some people make a common error of naming their own estate as the beneficiary of their individual retirement account. This means that rather than going to a person who could benefit from accumulated wealth… Read More »

What Power of Attorney Do I Need?

Most people are aware that estate planning has benefits for everyone, but it is especially critical for seniors. Do you already have a power of attorney? What does it cover? If your document is outdated or if you never created it, now is the time to revisit. You might be able to use a few… Read More »

Do Revocable Trusts Trigger Particular Tax Treatment?

Many people are interested in setting up a living trust and this can be a valuable estate planning tool. Many people are also curious about whether state and federal taxes would be due on earnings that are based on the assets inside the trust. Revocable living trusts are a powerful estate planning tool that are… Read More »

Have You Forgotten About the Intangibles in Your Estate Plan?

Many times, people think very specifically about the physical objects or other items they intend to pass on to their loved ones but if you forget about intangible assets, you could be depriving your loved ones of something they cherish greatly. Your values, wisdom, important family traditions, stories and beliefs can all be articulated in… Read More »