If you are a parent, you likely plan to pass down some, or all, of your estate assets to your children upon your death. If your children are still minors, they cannot inherit directly from your … [Read more...] about Why You Should Avoid Leaving Children a Lump Sum Inheritance
People often overlook the importance of choosing the right fiduciaries within their estate plan. The right fiduciaries can dramatically increase the chance of a successful plan while appointing even … [Read more...] about Choosing Your Fiduciaries in Your Estate Plan
There are acronyms in our field that are used to shorten the names of legal terms, and one of them is “QDOT.” These letters stand for the qualified domestic trust, and we will explain why these trusts … [Read more...] about Why Would You Use a QDOT?
If you decide to draw up a will to serve as the centerpiece of your estate plan, you should see a holistic picture. Yes, you have to express your wishes regarding the way you want your assets to be … [Read more...] about Tips for Preparing a Will for Probate
Many of our clients have questions about how taxes can impact inheritances. In most cases, they are pleased when they hear the answers. We will cover capital gains taxes as the main focus of this … [Read more...] about Are Inherited Assets Subject to Capital Gains Taxes?
Everyone is well aware of the fact that estate planning attorneys help people prepare their assets for distribution to their loved ones. At the same time, there are a broader set of considerations … [Read more...] about Legacy Planning Can Add a Dimension to the Estate Planning Process
Two-thirds of American adults do not have estate plans in place. Some of the 33 percent that have wills have never considered the concept of incapacity, so the unpreparedness runs deep. A lot of … [Read more...] about COVID Underscores the Need for Advance Health Care Directives
Your individual retirement account will probably be important to you during your senior years, and if you do not need all of the money, it can be part of your estate. You should fully understand the … [Read more...] about Breaking: House Passes SECURE Act 2.0
There are custodial accounts that can be set up for minor children if you want to save money on their behalf for college or general purposes. The Uniform Gifts to Minors Act (UGMA) was originally … [Read more...] about What Is a UGMA Account?
We recently published a post that shared the results of the 2022 Caring.com estate planning survey. It asked American adults if they have wills or trusts in place, and two out of three of them do not. … [Read more...] about Don’t Blow Estate Planning Out of Proportion
