You may have a special needs child who is developmentally disabled or legally incapacitated. This child may also be on some form of governmental assistance such as Supplemental Security Income, Social Security Disability Income or Medicaid. If you leave property …
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How to Leave an Inheritance to your Spouse
You and your spouse may have one of the most common type of estate plans between married persons which is the “Honey I love you, I leave it all to you” plan. With this type of plan, you leave all …
Federal Estate Tax is a Voluntary Tax
You have probably heard a lot of talk about the Federal estate tax and about its so-called repeal. In our current estate tax system your estate will be subject to Federal estate tax if your taxable estate is more than …
Trust Your Trust v1 Single Column
The use of Trusts as an estate planning tool has become more prevalent over the last few years. There are however, still some misconceptions about the use of trusts. Many still believe that trusts should only be used if taxpayers …
The Seven Most Common Trust Mistakes
Many people use revocable or living trusts in their estate plans. Living trusts are very powerful planning tools that you can use for all kinds of purposes. Trusts can avoid probate, protect your beneficiaries from their creditors or divorcing spouses, …
How to Leave an Inheritance to a Child
When you want to leave an inheritance to your children after you are gone, you usually just leave outright distributions to them. However, when you leave outright distributions to your children, those bequests are fully available to your children’s lawsuits, …
Be Aware of Administration Costs
When you decide to have your estate plan prepared, it can be a stressful experience. You have to make decisions about what you want to happen to you if you became mentally disabled. You have to make difficult end-of-life decisions …
IRAs & Beneficiaries
Most people name individuals as direct beneficiaries of their IRAs or other retirement plans. However, by naming a qualified trust as a beneficiary, your heirs could not only save taxes, but also have creditor and other protections. Qualified trusts are …
Disability and Financial Powers of Attorney
Have you ever thought about what would happen to your real estate, bank accounts, investments and other property (your “stuff”) if you could not take care of them because of incapacity due to an accident, illness or injury? How would …
Planning for tragedies makes a big difference
Many people think of estate planning as death planning. However, estate planning also includes lifetime planning which would be making sure that you are taken care of in the event you became incapacitated and also that your property is taken …