Category: Estate Planning
The status of a will that is written prior to life changing events varies across the nation. Significant life events, such as having more children, should be included in an update of a will, but if not the impact varies from state to state. In Georgia, the will gets revoked, according to the Wills, Trusts […]
Even though federal tax reform legislation is an uncertainty, the elderly can prepare for possible changes. As the possibility of federal tax reform looms, people in retirement do have some options that could prepare for potential changes, according to USA Today in “Retirees: 4 ways you can start planning for possible tax law changes now.” […]
If you think a will is just for the rich, you are mistaken. Everyone who has any property at all needs a will, according to CNBC in “Think you’re not rich enough to need a will? Think Again.” Some people believe that if they only have only a little bit of money or property, then […]
The government has decided that the Section 2704 estate tax rules are unworkable. The Trump administration has decided to change course on Section 2704 rules after a close look at changes by Obama, according to Forbes in “Treasury To Withdraw Hated Estate Tax Valuation Rules.” There was a lot of concern when the Obama administration […]
Your estate plan is about protecting your family, as well as deciding where your assets will end up. Sometimes people think an estate plan only concerns decisions on what will happen with your money and other assets when you pass away. However, estate planning is much, much more than that, according to NJ Biz in […]
People forgotten by history get stories told by brothers who visit their graves. Brothers who banter about the lives of some people forgotten by history could soon be coming to your television, according to The New York Times in “Like ‘Car Talk,’ but With Dead People.” New York brothers Vincent and Robert Gardino are using […]
Estate planning instruments, including trusts, can be used to avoid the probate process. If some information you have seen or heard has led you to believe a will does not have to go through probate, you are just plain wrong, according to TC Palm in “Common misconceptions about wills and trusts.” Sometimes, misconceptions begin with […]
Sometimes the little things can start the big fights. Estate plans are often designed to fairly distribute assets and avoid family fights. However, sometimes the little items of personal property can create the big problems, according to CNBC in “7 Ways that cheap Tweety Bird figurine can screw up your estate.” Potential problems include: Items […]
Because of the history of trusts being quite large in the U.S., people think they are restricted to those with large amounts of money. Trusts are not just beneficial to the super wealthy. They can be a good tool for everyone, according to the Times Herald-Record in “Trusts are no longer just for the wealthy.” There […]
Don’t assume that you can take care of the plan later. Estate planning can run into two problems: not taking care of the initial planning and then not following up with adjusting for life changes, according to the Sunshine Daily Coast in “Fix your will before it’s too late.” What is the problem with not […]
