“Estate planning is all about ensuring that your wishes are met after your death. All estate plans should include a will and powers of attorney. However, in many cases, a trust has additional benefits beyond what can be accomplished with the will and powers of attorney.” How would funding a trust with life insurance work, […]

“Some retirees may be surprised to learn that a portion of their Social Security benefits could be subject to federal income taxes.” Paying taxes when you aren’t working but are instead receiving income from a lifetime of working and Social Security is a harsh reality of retirement for many people. Figuring out how much of […]

“These all-too-common misconceptions can steer your estate plans in the wrong direction right from the start. Here’s how to overcome them and tips to build the right plan for your family.” Estate planning should be a business-like process, where people evaluate the assets they have accumulated over time and make clear decisions about how to […]

“For most of us, considering the distribution of the property we have accumulated over our lives is a painful reminder of our mortality.” Overcoming an emotional response to the necessary task becomes complicated when we want to leave uneven distributions of our property to loved ones, including children and spouses. There are many reasons for […]

“LOIs may also include whatever you think may help the people you leave behind or who would take over if you are not capable.” A letter of instruction, or LOI, is a good addition to the documents included in your estate plan. It is commonly used to express advice, wishes and practical information to help […]

“Should I start collecting Social Security retirement benefits as early as possible, or hold off for longer in exchange for plus-size payments?” How much time you need to figure out the best time to take Social Security benefits can be as much of a puzzle as figuring out the actual answer, according to the recent […]

“Only you know the strengths and weaknesses of your family members, putting you in the best position to decide if your spouse or your child can appreciate a trustee’s responsibilities.” To protect all that you have worked for and take care of the most important people in your life, you may have been advised to […]

“Why wait? A variety of trusts—from SLATs to BDITs, GRATs and more—can help you be proactive in protecting your wealth.” You might remember a flurry of activity in advance of the 2016 presidential election, when concerns about changes to the estate tax propelled many people to review their estate plans. In 2020, COVID-19 concerns have […]

“My aunt recently asked me to be the executor of her will when she dies. I’m flattered that she asked, but I’m not sure what exactly the job entails.” Being asked to serve as the executor of a loved one’s estate is flattering, but it is also a big responsibility and a lot of work. […]

“To ensure your estate is settled in the way you want, it’s wise to do a bit of extra planning to keep your documents up to date.” For anyone who thinks that their will or trust can be used to distribute assets in a 401(k) after they pass, think again. The beneficiaries listed in a […]