Category: Estate Planning
“The recent decline in asset values may make gifting a more attractive estate planning technique for many individuals, especially if you are considering gifts of stock or other non-cash assets.” Gifting assets to a trust for children or grandchildren is often an important part of an estate plan. The recent article “Is Now a Good […]
“I am my late brother’s sole beneficiary on various investments held at different investment companies. I would like to divide the assets equally among three relatives.” This generous individual may be facing a number of legal and logistical hurdles, before assets in eight separate accounts can be passed to three relatives, says the article “Sorting […]
“It’s hard to imagine being stripped by a court of the right to make decisions about finances, medical care and other matters. It’s even harder to imagine that happening without representation or the advice from a lawyer.” In many states, if a person is deemed unable to conduct their own affairs, a court appoints a […]
“The Social Security hell morphed into Medicare hell and, will, not doubt, morph into federal income tax hell and then state income tax hell.” A cautionary report about a man who simply wanted to apply for Social Security appears in a recent article from Forbes, “A Social Security Application Mistake or A Malicious Policy with […]
“Does your ability to pass on your wealth to your heirs depend on where you live … and die? Indeed, it does.” When the current health crisis finally passes, many people will have spent time considering what they want to do with their remaining years. That may include relocating. For some people, taxes are a […]
“Adding an adult child to your house deed, or giving them the home outright, might seem like a smart thing to do. It usually isn’t.” Transferring ownership of the family home to an adult child may seem like a simple approach for avoiding having the house go through probate, or even qualifying easily for Medicaid. […]
“When a loved one is experiencing cognitive decline, emotional and medical considerations often overshadow the financial planning that needs to happen. This is a potentially costly mistake.” Whether the reason is Alzheimer’s, Parkinson’s or any number of illnesses that lead to dementia, it’s hard for families to think about legal or financial concerns, when a […]
“Lawyers are being bombarded with requests to write wills, update estate plans and prepare health surrogate or “pull the plug” documents, as people are confronted by the realization that they could be diagnosed with COVID-19 and dead within days.” Estate planning lawyers have always known that estate planning is not about “if,” but about “when.” […]
“Besides seeking to draft or alter wills and trusts, many clients were changing trustees, executors and the agents they assigned to oversee their finances and health care, if they were unable to make decisions themselves.” After the initial shock of the pandemic, people are realizing not just that they need to update their wills, but […]
“Financial advisors and estate attorneys say they are seeing a flurry of inquiries from people seeking to update or draft wills and take other estate-planning measures amid the coronavirus crisis.” With the ever-increasing number of deaths in Europe and the U.S., many people are now doing what estate planning attorneys have advised them to do […]
