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]
Congress Is Making Secure Act 2.0 Push Prior to New Year
The SECURE Act was enacted in December of 2019, and it made some changes to the individual retirement account parameters. In 2021, legislation that would make further changes was introduced. It has been making its way through the legislative process since then. According to reports, lawmakers are attempting to approve the measure that is being … [Read More]
Shape Your Estate Plan to Suit Your Needs
A lot of people wonder why legal counsel is necessary when you are planning your estate. There are a number of different reasons, but there is one that stands above the rest: understanding your options. Asset transfers can be facilitated in different ways, and specific concerns can be addressed on a case-by-case basis. With this … [Read More]
Estate Planning and Vacation Homes
A vacation home can provide countless family memories over the years. When you start to envision your legacy, vacay property may be a part of it. In this post, we will provide some important information about estate planning and vacation homes. Do Your Children Really Want the Home? The thought of your children and their … [Read More]
What Are Advance Directives?
A properly constructed estate plan will take a holistic, 360 degree approach. Of course, you have to make sure that assets get into the hands of your loved ones in the appropriate manner. This is the part of the estate planning process that everyone understands in a general sense. At the same time, you should … [Read More]
What Documents Are in a Complete Estate Plan?
There is no universal, one-size-fits-all plan. At the same time, some of the documents in a complete estate plan are necessary for everyone. In this post, we will provide clarity that will help you cover all of your bases appropriately. Asset Transfers All estate plans will arrange for postmortem asset transfers. However, there are different … [Read More]
What Is a Totten Trust?
There are many different trusts used in the field of estate planning. We endeavor to provide explanations in some of our posts, and we will look at the Totten trust in this one. Payable on Death Account Back in 1904, there was a court case that was decided by the New York Court of Appeals … [Read More]
( By appointment only )