Category: Estate Planning
It is difficult for the legal system and people to keep up with the rapidly changing world of technology. The legal system has not been able to keep up with the fast-paced world of technology, according to Investment News in “Most estate plans aren’t dealing with digital assets properly.” Many people today are conducting business […]
If you are considering an estate plan, you need to take a close look at a trust. Trusts are not always better than wills. However, there are at least five scenarios that put trusts out front, according to Wicked Local Norwood in “Five Ways in which a trust is better than a will.” Those reasons […]
It is easy and simple to treat your children equally in an estate plan, but that may not be fair. It can be a difficult task in estate planning to figure out how to divide an estate unequally but fairly between children, according to the Wills, Trusts & Estates Prof Blog in “Dividing Your Wealth […]
Proposal to end estate tax creates questions and not that many answers. The end of the estate tax has been proposed but that does not mean that is the end of the estate tax, according to Investment News in “Trump tax proposal leaves advisers in the dark on estate tax repeal.” The biggest issue following […]
More than half of the states in the U.S. have laws requiring adult children to provide care and support for elderly parents. Laws have been passed in 28 states that require adult children to provide financial support for their elderly parents, if the parents are unable to pay their own bills, according to the Wills, […]
Many elder Americans prefer to just live together, rather than deal with some issues. Today, rather than getting married, many elderly people are just moving in together and foregoing a marriage certificate, according to The New York Times in “More Older Couples Are ‘Shacking Up’.” Getting remarried later in life has created many issues for […]
The long-awaited tax plan of President Trump is released and, if approved, will have a huge impact. The White House has released the Trump administration’s tax plan and it does include the elimination of the estate tax, according to The New York Times in “White House Proposes Slashing Tax Rates, Significantly Aiding Wealthy.” The President’s […]
There are some basic estate planning mistakes. Some of them are revealed in a podcast. John B. made some basic estate planning mistakes in a podcast, according to a Wills, Trusts & Estates Prof Blog discussion in “Estate Planning Lessons from John B.” Millions of people tuned in to hear the story in Serial of […]
Estate planning remains important, even if the estate tax goes away. The elimination of the estate tax is included in the Trump administration’s tax plan proposal. However, the path forward is not simple, according to Financial Advisor in “Estate Planning: It’s Not Over.” Even though a big part of modern estate planning is planning around the […]
Cash for expenses should be included in an estate plan. Some advice on how to plan for your family to access cash while your estate is being settled comes from South Africa by way of Personal Finance in “Will your family avoid a cash-flow crisis on your death?“. The advice is equally applicable in the […]
