While we are on the topic of updating your plan, you should consider one of the most important documents - your Trust and/or Will. Read More from The American Academy of Estate Planning Attorneys. … [Read more...] about Updating Your Plan: Your Trust or Will
It’s as a good of a time as any to think about updating your plan. This includes your entire plan, including Powers of Attorney. Powers of Attorney are part of even the simplest estate plan. A Power … [Read more...] about Updating Your Plan: Powers of Attorney
The acronym “UTMA” stands for the Uniform Transfers to Minors Act that was enacted in 1986. It is an extension of the Uniform Gifts to Minors Act (UGMA) that was developed in 1956 and updated 10 years … [Read more...] about What Is a UTMA Account?
People sometimes fall victim to the “little bit of knowledge is a dangerous thing” phenomenon, and this applies to the field of estate planning. In this post, we will look at a couple of risky … [Read more...] about Escape Risky Probate Avoidance Schemes
When you start to focus on the process of estate planning, the subject of taxation will naturally come to mind. We are going to provide a broad overview here with an emphasis on capital gains taxes … [Read more...] about Do You Pay Capital Gains Taxes on Inherited Assets?
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 … [Read more...] about What’s an “Atom Bomb” or “Contingent Remainder” Beneficiary?
Tony Hsieh passed away on November 27th due to complications from burns and smoke inhalation after he was exposed to a house fire in New London, Connecticut. He was a resident of Las Vegas, and he was … [Read more...] about Reports: Former Zappos CEO Hsieh Died Without a Will
In 2020, we have been working with some new individual retirement account parameters that came about due to the SECURE Act that was passed at the end of 2019. A fresh piece of legislation that is … [Read more...] about Congress Is Considering SECURE Act 2.0
The majority of adults in the United States do not have estate plans in place, and this even applies to individuals that are 50 years of age and older. Strangely enough, researchers have found that … [Read more...] about Resolve to Review Your Estate Plan in 2021
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 … [Read more...] about Staying Current is Especially Important in the Pandemic