When you’re deciding to whom to leave assets, most people choose their children or other descendants. However, you also need to decide on the “contingent remainder” beneficiary. In other words, who should get your assets if all your other beneficiaries are gone. Read on to learn more about this often-confusing concept. … [Read more...] about What’s an “Atom Bomb” or “Contingent Remainder” Beneficiary?
Legal Education
Fair Isn’t Always Equal and Vice Versa
When you’re deciding how your assets should be divided at death, sometimes dividing them equally is the appropriate choice. But, sometimes it’s not. Fair isn’t always equal or vice versa. Read on to learn more, including how to avoid a challenge if you choose an unequal division among your children. … [Read more...] about Fair Isn’t Always Equal and Vice Versa
Staying Current is Especially Important in the Pandemic – Part 2
The President’s bout with COVID-19 demonstrates the importance of keeping planning current. A Health Care Power of Attorney appoints someone to make decisions for you if you’re not able to do so for yourself. An Advance Directive expresses your wishes regarding end-of-life decisions. Read on to learn more. … [Read more...] about Staying Current is Especially Important in the Pandemic – Part 2
Staying Current is Especially Important in the Pandemic
A Health Care Power of Attorney appoints someone to make decisions for you if you’re not able to do so for yourself. An Advance Directive expresses your wishes regarding end-of-life decisions. During the COVID-19 pandemic, it’s important to have them up-to-date. Read on to learn more. … [Read more...] about Staying Current is Especially Important in the Pandemic
Planning Is Important
Planning is important. End-of-year tax planning is one part of that planning. This year you should also consider whether you’ve had any payroll tax withholdings deferred. If your employer deferred those withholdings, you’ll have more money withheld next year than usual. That means you’ll have less money for other things, like IRA contributions. Read on to learn more. … [Read more...] about Planning Is Important
Puerto Ricans are Unique, as Is Estate Planning for Them
Puerto Ricans hold a unique position under U.S. law. U.S. estate taxation treats those from Puerto Rico different from other U.S. citizens or citizens from other countries. Read on to learn more. … [Read more...] about Puerto Ricans are Unique, as Is Estate Planning for Them
Chadwick Boseman Demonstrates the Importance of Planning
Chadwick Boseman played many heroic American roles and the superhero role of the Black Panther. His death at age 43 demonstrated how it’s important to have at least a basic estate plan in place even if you’re young. Read on to learn more. … [Read more...] about Chadwick Boseman Demonstrates the Importance of Planning
Generational Wealth is Key to Leveling the Playing Field
Generational wealth is wealth earned by one generation and passed on to the next. Generational wealth is key to allowing the next generation to be free from the burden of having to live hand-to-mouth and allows them to pursue an education and build a career or business to build a better life for themselves. Read on to learn more. … [Read more...] about Generational Wealth is Key to Leveling the Playing Field
Use the Exclusion or Lose It
Currently, each person can give $11.58 million during life or at death. However, that amount will be cut in half by January 1, 2026. It may go down even sooner. Read on to learn why and how you should use it before you lose it. … [Read more...] about Use the Exclusion or Lose It
Will Your Estate Plan Still Work If You Move?
Before the pandemic, Americans were more mobile than ever. When you move, you have to change your address, your voter registration, and all sorts of other things. But, do you need to revise your estate planning documents? Like with many things in law, it depends on your situation. Read on to learn more. … [Read more...] about Will Your Estate Plan Still Work If You Move?
