A wise man once said that “Experience is something that you get just after you need it.” Clearly, we learn from our mistakes, but these can be hard-won lessons. With this in mind, we are going to look at some of the commonly made estate planning errors in this post so you can learn from … [Read More]
Can I Leave an Inheritance With Strings Attached?
In some cases, a person will have reservations about leaving a loved one a direct, lump sum inheritance. Let’s look at some of the ways that you can approach this type of situation. Complete Disinheritance First, it is important to clear up a detail that some people have questions about. There are those that assume … [Read More]
Federal Estate and Gift Tax Exclusion Increases for 2023
We have been sharing updates about changes to government parameters that are relevant to estate planning and elder law matters. Each year, certain figures are adjusted to account for inflation, and there was a significant level of inflation in 2022. In this post, we are going to take a look at the federal estate tax … [Read More]
Make Estate Planning a New Year’s Resolution
People often resolve to take care of matters that they have been placing on the back burner when a new year comes along. Now that 2023 is underway, a lot of resolutions are being considered. From an estate planning perspective, two out of every three American adults are completely unprepared. This even extends to older … [Read More]
Is Estate Planning Only for the Rich?
A lot of people think that estate planning is something that is only important for very wealthy people. They think that you do not need to work with an attorney to map out a comprehensive strategy unless you are a multimillionaire. In reality, this is patently false, and we will look at the subject in … [Read More]
Are These Items Missing From Your Estate Plan?
A comprehensive estate plan will cover a number of different bases. However, some people fail to consider key details. With this in mind, we will take a look at some of the estate plan components that are sometimes omitted in an effort to raise awareness. Letter of Last Instruction If you were leaving the country … [Read More]
Advance Property Liquidation Can Streamline the Estate Administration Process
Far too many people assume that estate planning is an exercise in drawing up a will or trust. They think that the rest will fall into place, and they do not consider any of the finer details. You can approach the matter this way if you choose to do so, but you may want to … [Read More]
What Can a Trust Do That a Will Can’t
A lot of people think that when you create your estate plan, you draw up a will, and that’s the end of the story. This is one way to approach it, but in fact, a trust can be a better choice in many cases. Trusts can address certain objectives that a will cannot, and we … [Read More]
Why It’s Important to Plan Your Estate Now
Two out of every three American adults do not have wills or trusts in place. Many of these folks are planning ahead for retirement, and in general, they manage their lives effectively. Strangely, they fail to take action to address one of the two certainties of life. A lot of people would tell you that … [Read More]
Does Your Estate Plan Reflect Your Current Wishes?
As we enter a new year, it is time for reflection, and some people think about the responsibilities they have been placing on the back burner. From an estate planning perspective, procrastination is always going to be an issue. Clearly, the subject is often avoided, and folks tend to think they will have time to … [Read More]
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