What a Will Can and Cannot Do
A will allows you to distribute your worldly goods, select a guardian for minor children and name an executor to carry out your wishes.
How Do You Gift Your House to Your Children during Your Lifetime?
There are many ways to pass property on to children, including gifting the family home to them while you are still alive, bequeathing it to the children upon your passing, or selling the residence to your heirs.
Is Estate Tax Exemption Going to Change?
The new numbers mean that wealthy taxpayers can transfer more to their heirs tax free during life—or at death. A lot more.
When Should You Fund a Trust?
For larger estates, a revocable trust is generally the most effective tool for avoiding probate. It involves some setup costs. However, it allows you to manage the disposition of all of your wealth in one document, while retaining control and reserving the right to modify your plan.
Short-Cuts to Estate Planning can Lead to Costly Consequences
Over the years I get all kinds of questions from people. And boy, have I heard some doozies. But one common one I get is called the ‘lazy (or poor) man’s (or woman’s’) estate planning.’ This type of estate planning has some very negative tax consequences.
How can I Revoke an Irrevocable Trust?
I feel I was taken advantage of to the tune of $3,500, when I set up a trust.
How Do I Disinherit My Child?
When these types of situations arise, there are many steps you can take to avoid your will from being contested by individuals who believe they are entitled to receive your assets.
Trusts Make Sense Even When You Aren’t a Billionaire
Done right by a lawyer, your heirs can avoid the expense and time of probating your will and may save on estate taxes, while easing the administration of your affairs while alive and after you have gone.
Prince’s Estate Hits the IRS with a Million Dollar Lawsuit
Prince’s sudden death in 2016 triggered numerous court proceedings. First, probate documents had to be filed in court because Prince died without a will.
Ignoring Beneficiary Designations Is a Risky Business
We are programmed to contribute the “max” to our retirement accounts and we disregard, or do not understand, the pitfalls of an improperly filled-out beneficiary forms.
