Year: 2020
“Estate planning strategies such as family limited partnerships and gifts to charitable trusts are part of an estate planning professional’s toolbox to achieve client goals, such as minimizing taxes, effectuating philanthropic plans, teaching younger generations about a family business and passing on wealth.” In the best-case scenario, you’d start talking with your estate planning attorney […]
“The world exists just as much online, as it does offline. Failing to recognize that when planning for the end of life can lead to unexpected repercussions for survivors.” There’s never an easy time to talk about end-of-life planning, and a pandemic that has everyone thinking about death can make it harder, says the article […]
“Whether you’re planning ahead for your own heirs or have been asked to serve as executor for someone else, it pays to understand what the role requires.” The job of the executor is an important one. The executor has a fiduciary responsibility to manage the assets and debts of the decedent and carry out instructions […]
“If there’s a family member or a friend in your life who refuses to do their will and get their estate in order, here are some tips to finally get them to take action.” This is a tough scenario. It happens more often than you’d think. Someone owns a home, investment accounts and an inheritance, […]
“Covid-19 or Coronavirus has created health worries and fear for everyone. For those with underlying health issues, which include multiple sclerosis, Parkinson’s disease, Alzheimer’s disease, or other brain diseases, those concerns are even more pronounced.” There are certain steps that can be taken by individuals, loved ones and family members to make this challenging time […]
“What steps can be put into place to ensure an adult child who makes poor decisions, will be secure after the death of the parent? The main asset is life insurance.” This is not an unusual question for most estate planning lawyers—and in most cases, the children aren’t bad. They just lack self-control or have […]
“Simultaneously, T&E practitioners are well aware of the primary risk posed by a GRAT; namely, the mortality of a grantor during the GRAT’s term.” The 9th U.S. Circuit Court of Appeals addressed whether a Grantor Retained Annuity Trust, or GRAT, should be included as a taxable asset in an estate where the decedent died during […]
“With all these anxieties and unknowns weighing on your mind, it might feel like there’s suddenly a pressing need to get your affairs in order―just in case.” Most people who contract COVID-19 experience mild symptoms, but it does not hurt to be prepared just in case you need to be hospitalized, explains the article “A […]
“To put it bluntly, what if you were in a serious accident or were suddenly rushed to the hospital with COVID-19 symptoms or another life-threatening illness, and you were unable to make health care decisions for yourself?” The coronavirus pandemic has had an impact on the entire world. No wonder—it’s a frightening disease that experts […]
“External events that cause reflection are good reminders to update estate planning documents.” Now is a good time to reach out to an estate planning attorney to review and update beneficiaries, named executors, financial and health care proxies, wills and trusts, advises the article “Planning Strategies During Market Uncertainty & Volatility: Estate Planning and Debt […]
