When Should an Estate Plan Be Reviewed?
The documents may still be valid but if they are stale or outdated, you may spend significant money trying to use them down the road.
How to Prepare for Higher Taxes
President Biden’s proposal to eliminate the step-up for calculating inheritance taxes targets a tactic that has long been a wealth-preservation tool. What are some of the ramifications of the proposal and what, after political wrangling, could be the tax implications for large inherited assets?
What Happens when Homeowner Dies without Will?
How do we move into probate, so we do not lose the house and bank accounts, while not killing ourselves in the process?
What Happens to Credit Card Debt when Someone Dies?
If you get bogged down with a high balance that you can’t easily afford to pay off, it can take years to get out of debt. However, what happens to your credit card debt, if you die before you’ve repaid it?
Caring for a Loved One from a Distance
If you are caregiving from a distance (you live here and your parent or other loved one is in another state, a distant city or as close as an hour away), it can be even more daunting than doing it in your home.
Make Sure Your Estate Plan Protects Digital Assets
Do you have accounts, records or information that are accessed using your mobile phone, through an internet connection, or by using a keyboard or through a touch-screen or tablet?
Your Estate Plan Needs to Be Customized
Estate planning documents often are treated like the photocopied permission slip for a child’s field trip. You fill in your name, include the children’s names and dates of birth and sign. The document is filed away to be used if needed, but you really never expect it to be used.
Avoid These Mistakes with Your Estate Plan
Financial planning is an important part of life. Estate planning is one key aspect of planning for the future. It can feel daunting to take on the task, but once it’s done and your future is organized, it usually feels a lot better.
Why Everyone Needs an Estate Plan
If you think of estate planning as something only ultra-wealthy people need to do, you’re not alone. That’s a common misconception.
Do You Want to Decide or Do You Want the State to Decide?
Estate planning attorneys will agree, it’s better to die with a properly drafted will than to die without one. If you don’t have one, consider getting one.