Naming a guardian is critical and if you have a minor child you should name a guardian to care for your child in your will. But planning for a minor child should not stop with that. To often planning for minor children is focused only on death, but it should consider the risk of disability…
When you play golf you carefully select which club you will use for each shot. You likely consider the topography of where the ball is located, distance to the green, and other factors. Your trust planning should be no different. You should carefully select which of the many different types of trusts you use to…
There are lots of common estate planning mistakes. Estate planning is not only about planning for death, it is also about planning for life. Don’t rely only on an estate planning attorney. Your financial plan is the foundation of your estate plan. You need to write letters of instruction. Just because you had a great…
A loved one dies and has left a valid will there are a number of steps you should consider to begin the administration of the estate.
There are several valuable benefits to using revocable trusts other than just avoiding probate.
Sure you can do online research to figure out what estate planning steps you might take. But if you have limited knowledge you could end up finding a bunch of inappropriate complex techniques you don’t need. This case study discusses how online research can lead someone astray and makes suggestions for how to address planning…
Can and should you give or bequeath the family business to one of your children because they are involved in the business? What are the risks and downsides of that approach? What options may be more protective of the family as a whole and address future contingencies?
State laws and traditional legal documents may not address your needs. In the current political environment you should be cautious even relying on laws that may be helpful, as those may change. Thoughtful and deliberate planning is necessary to protect yourself, your family and your loved ones.
A friend or family member asks you to serve as an executor or personal representative, or your friend or family member died and you learn that you were named in that capacity, you should carefully consider the importance of the task you were asked to serve in, but also way the potential negative consequences.
Originally posted to Forbes.com When the first of two spouses dies the survivor can safeguard the estate tax exemption that the deceased spouse’s estate did not use. The unused exemption is called the Deceased Spouse Unused Exemption or “DSUE.” The concept of passing on that exemption is called “portability.” The whole point of this is…