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Understanding Step Up Basis

Posted on 01/25/2015

In President Obama’s State of the Union address last week, he spoke of closing tax loopholes used by the wealthy. One of those “loopholes” that is in Obama’s gun sights is what the White House has dubbed the “trust fund …

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Pay Me Now or Pay Me Later

Posted on 01/18/2015

When you are doing your estate plan, there are costs all along the way. There are costs to implement your plan. When circumstances change, there are costs to update your plan. If you do not update your plan when needed, …

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Legal Definitions

Posted on 01/11/2015

Most attorneys, including myself, use legalese. Some attorneys use more legalese than others. Although much that I write is in plain English, there are some legalese words that I have to use because there is no understandable substitute. Today we …

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Your Pet’s Life Without You

Posted on 01/04/2015

You have a pet. Fifi your French poodle or Puff your cat has become part of your family. You may have a horse or two, a bird or even a lizard. You couldn’t imagine what life would be like without …

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Charitable Gift Options

Posted on 01/01/2015

You have decided to set up an endowment for your favorite charity or as a memorial to a loved one. You would like to leave a legacy so that your gift keeps on giving. The principal would stay invested and …

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No Results Yet!

Legend:

0-15 Level of risk is low.

You have done a very good job of protecting your estate.

16-30 Level of risk is moderate.

You have done a pretty good job of protecting your estate.

31-45 Level of risk in the "dangerous" area.

  • Examine areas where you are weak.
  • Seek advice from competent professionals that you trust.

46+ Level of risk is "severe".

  • Immediately begin a comprehensive examination of your estate planning needs.
  • Develop a step-by-step plan to plan for your disability and to protect your estate.
  • Seek advice from competent professionals that you trust.

Disclaimer

This website is not designed for do-it-yourselfers. The ideas presented herein are for discussion and educational purposes only. The information presented is the opinion of the authors only and DOES NOT create any attorney/client relationship and is not to be relied upon for any specific person or situation. For specific information regarding your needs, concerns, and plan, you must consult with your tax advisor, financial planner and estate planning attorney to discuss your situation and obtain advice.

You should not attempt to implement any of the techniques or ideas presented without competent advice. You would not want to do your own brain surgery, why would you want to do your own estate plan? Check with a qualified Attorney or other professional adviser before you attempt to implement these or any other estate planning techniques. It usually costs more to fix an estate planning problem than it would have cost to do it properly in the first place.

Legal and tax issues frequently change, therefore some material may be affected by changes in the laws regarding wills, trusts, taxes, and other issues, or new interpretations of the law since preparing this material. For that reason, the accuracy and completeness of information and the opinions expressed are not guaranteed. The information in this website may be reproduced, mechanically or electronically, in whole or in part so long as the firm information and copyright data are included in such reproduction.