Do I Really Need a Will?
There’s much to plan for in life — college, your wedding, your first child, life insurance — and with more than enough to keep you busy, it’s easy to forget about your will. After all, no one wants to sit around and dwell on their death, but it is perhaps one of the most important decisions you will make in your life.
Pope Benedict XVI Declines Inheritance from his Brother
Retired Pope Benedict XVI has declined the inheritance of his brother Georg, who died in July, reported the German Catholic news agency KNA.
Incorporating Gifting with an Estate Plan
Gifting sounds pretty simple, but there are many ways to do it. There are also several tax ramifications to be aware of.
How Do You Ask Parents about Estate Planning?
Do you expect your parents to leave you a financial legacy? Nearly half of working-age Americans assume that they will receive an inheritance that will support them later in life, according to a survey by financial services company HSBC. Perhaps the bigger question, though, is how to even approach this topic with your parents.
What Do I Do If Property I Just Inherited Has a Mortgage?
What happens if you inherit your loved one’s home? What if they still have payments to make on their mortgage? We’ll explore these and other questions you may have below.
No Time Like the Present Pandemic to Get the Estate Plan Going
There’s nothing like a once-in-a-lifetime global pandemic to focus one’s thinking. This year has been one for the books.
What’s the Estate Tax Exemption for 2021?
The federal estate tax exemption is going up again for 2021.
Does a Beneficiary of a Trust Have to Pay a Tax?
Beneficiaries of a trust typically pay taxes on the distributions they receive from the trust’s income, rather than the trust itself paying the tax. However, these beneficiaries are not subject to taxes on distributions from the trust’s principal.
How Can I Use Estate Planning for My Small Business?
Small businesses are often caught up in growth cycles, profits and ensuring that products arrive to consumers on time. The life of a small business owner is a hectic one with many owners failing to follow basic estate planning and business law practices.
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.