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Published: Mon, 19 Mar 2018 12:28:59 -0500


The Importance of Including a Charity in Your Estate Planning

Fri, 16 Mar 2018 09:59:13 -0500

WILLS & ESTATE PLANNING: Estate planning is one of the wisest undertakings you can ever do with the things you own. Forbes cites real-life consequences to not having an estate plan in place. Planning for your estate and setting all your wishes in clear and organized order through the creation of a will is a matter best done early in life.

How Can Inheriting "Life Changing Assets" Affect Your Heirs?

Fri, 17 Nov 2017 07:17:57 -0600

Most people don't consider what will happen after death. Why? Because it is scary. People don't want to think about what will happen when they are not around and cannot influence whatever is going on in their environment. For this reason, many people do not have a will, funeral arrangements or a plan as to what will happen to their estate. Aside from the tax consequences and keeping files organized, what else should you consider in terms of estate planning? There is a large personal element to estate planning because the effects of inheriting assets can be significant. This article focuses on how a large inheritance can affect someone receiving it.

Re-Claiming PPI for a Deceased Loved One

Fri, 09 Jun 2017 13:34:07 -0500

Shining a light on a little known area of PPI Claims and how it could help when loved ones pass away. You could get some help where you didn't expect it.

The Five Secrets of Successful Estate Planning

Thu, 25 May 2017 21:06:25 -0500

Estate planning is something no one really wants to deal with if only because you have to take on the subject of your mortality. Given the rather morose and unhealthy mindset we've developed regarding the end of life, it's safe to say that most people try to avoid talking about death like, well, death. It isn't an easy topic to bring up, and it certainly doesn't get any easier when discussing how your belongings will be disseminated after your passing. What's more, when it comes to your finances, the topic of estate planning is all the more difficult because it involves actually coming face to face with some serious numbers.

Nine Things To Do When a Spouse or Parent Passes Away

Wed, 05 Apr 2017 07:09:20 -0500

As we age, we are inevitably confronted with the loss of a loved one. Sometimes we have time to prepare, other times it is sudden. If we are fortunate enough to have some time to prepare mentally and emotionally, the process of coordinating these items can be much more controlled and organized. If the death is sudden and we are dealing with it unexpectedly, it will be harder as the traumatic and emotional effects of our loved one's passing are still fresh and we need time to allow ourselves to grieve. Aside from the immediate needs for the funeral arrangements, final medical bills, and notification of family and friends, the rest of these items can be handled over the coming weeks or even months if you are not ready or willing to address them immediately after your loss. The following 9 items should be addressed as soon as you are able to grieve and get comfortable taking on the challenge.

Beneficiary and Fiduciary Liability for Income, Gift and Estate Taxes

Thu, 09 Mar 2017 10:31:25 -0600

It can be either a blessing or a curse to be appointed as the Personal Representative of an estate or Trustee of a trust (collectively a "Fiduciary"). One of the most over looked aspects of the job is the fact that the U.S.

How You Can Prepare for Your Estate Planning Meeting

Thu, 09 Mar 2017 10:31:21 -0600

Do not be intimidated meeting with an estate planning lawyer for the first time. They are there to assist and guide you through the process.

Cyprus Probate Law: Resealing of Probates or Letters of Administration

Mon, 12 Sep 2016 08:37:20 -0500

Estate planning denotes the process of arranging the disposal of someone's property, including immovable and movable property after his/her death. Obviously, estate planning may eliminate obstacles and doubts over the administration of estates.

Post-Nup - The After Marriage Agreement

Mon, 29 Aug 2016 14:02:17 -0500

Post-nup agreements, sometimes referred to as "postnuptial agreements", "postmarital agreements" or simply "marital agreements," are contracts made between couples after the wedding date. Although less common and not as well-known as prenuptial agreements, which are signed before the wedding, they are gaining in popularity.

Recommendations For Minimizing Inheritance Conflicts

Fri, 19 Aug 2016 07:56:47 -0500

You work throughout your life, invest and save wisely. You are enough careful of risks that threaten your savings and you would definitely like to pass work on to your dear ones after investing so much time, sacrifice and effort.

Estate Planing For The Inevitable: Show Your Executor Some Love

Tue, 26 Jul 2016 15:44:56 -0500

By preparing for our inevitable departure from this world we can reduce the stress on our loved ones by having our affairs in order. A well organized set of documents and instructions will be greatly appreciated by those we leave behind.

Is An Inheritance Loan Worth It?

Fri, 10 Jun 2016 10:02:42 -0500

It is seen that a lot of people who make estate plans are focused on one very thought, which is how can they avoid the probate procedure. The primary reason for doing this is people do not want the property or estate being caught in legal formalities of the court. Instead, they want that the estate passes on directly to the respective beneficiaries.

What Are the New Estate Laws in Ontario?

Thu, 26 May 2016 09:38:56 -0500

Ontario has introduced a new Estate Administration Tax (EAT) starting in 2015. The gist of the new tax is that reporting requirements will be much more stringent and will have to be done more quickly than in the past. The reporting is also more complicated and the penalties more onerous, so dealing with estates will be less fun that it was in the past.

Don't Make the Great Estate Mistake

Wed, 11 May 2016 07:54:55 -0500

Are you one of the 55% of Americans who will die without a will? If so, you're putting a lot of faith in the state. When it comes to keeping your estate out of government hands, nothing beats a good old-fashioned will.

Nominating Guardians For Kids - And Their Money

Wed, 04 May 2016 13:01:04 -0500

While creating a will is important for all adults, it is even more crucial for parents of minors. Nominating a trustworthy and caring guardian for your children is one of the most important choices you can make on their behalf.

Living Trusts - Who Can Get a Copy of My Trust?

Wed, 04 May 2016 08:18:26 -0500

Can just anyone get a copy of a parent's living trust? This article explains the "who, when and how" one may be entitled to receive a copy. This information will answer those questions, and more, in simple plain English.

Estate Planning: What to Think About Before Meeting Your Lawyer

Thu, 21 Apr 2016 12:24:41 -0500

In my estate planning practice, it is not uncommon to meet with a new client who wants an estate plan prepared, but is a bit vague as to what should be included in that plan. Quite frequently, the initial conversation begins with the client saying something like, "I would like a will... or should I have a trust? Do I need anything else?" Actually, those are good questions to begin a discussion.

Delaware Statutory Trusts

Thu, 31 Mar 2016 08:36:00 -0500

Delaware Statutory Trusts are an important part of the 1031 universe. Find out how this special type of property ownership an benefit you.

Administration Of Estates In Cyprus

Tue, 29 Mar 2016 07:24:03 -0500

Estate denotes the movable and immovable property someone processes during his/her lifetime. As a result, estate administration is strongly related to all the procedures of gathering and distributing assets and debts of a dead person to his/her descendants. In Cyprus, all matters related to administration of estates are regulated by the Administration of Estates Law (Cap. 189) and the Probates (Re-Sealing) Law (Cap. 192).

How Charitable Remainder Trusts Help You During and After Your Lifetime

Mon, 04 Jan 2016 15:16:50 -0600

A charitable remainder trust is a tax-free, unalterable vehicle which will ensure that the beneficiary has to pay nothing for their income. This is a surefire way to give you and your significant other a steady income for the rest of your lives, and an excellent financial tool if you're looking for better estate planning so you can help those in need. The idea behind charitable remainder trusts is to reduce the taxable income for which individuals have to pay taxes.

Five Practical Steps for Critical Estate Planning

Wed, 30 Dec 2015 06:36:03 -0600

You may be surprised to learn that millions of Americans are lacking a valid will, which leaves them and their families unprotected in the case of accident or death. Here are five practical steps that can help you jumpstart the critical process of estate planning.

Five Crucial Things to Understand About Trust and Estate Law

Wed, 30 Dec 2015 06:33:50 -0600

Ensuring that you and your family are protected in the event of accidents, sickness, or untimely death is critical. Here are five crucial things to know about trust and estate law that may prompt you to change or create your plan if you are one of the 120 million Americans that does not have adequate protection.

Estate Planning: What It Is and Why You Need It

Tue, 22 Dec 2015 10:02:36 -0600

If you are interested in planning to accumulate and conserve wealth during the course of your life, and eventually want that wealth distributed to your family, friends, and favorite charities efficiently and in a way that accomplishes your tax and nontax related goals, then you are interested in estate planning. In a nutshell, estate planning is about managing your property both before and after your death. And, the reality of the matter is that if you do not actively plan for the distribution of your estate, the government has a plan set up for you - a plan that may...

5 Common Estate Planning Mistakes - How to Avoid Them

Tue, 22 Dec 2015 10:00:18 -0600

Here are 5 common, serious mistakes we see in estate planning - mistakes that can be solved fairly easily with help from your attorney or financial planner. Misuse of Jointly Held Property - jointly held property may become a nightmare in terms of unexpected tax and nontax problems First, there is the potential for federal and state gift tax upon the passing of one joint tenant if the property is jointly held with a non-spouse or a non-citizen spouse; Second, once jointly owned property with a right of survivorship passes...

Four Estate Plans You Should Consider

Thu, 17 Dec 2015 06:54:51 -0600

At some point you need to determine your estate plans so your loved ones don't have to. You have several options you can choose from or combine together.

Israel Inheritance Law, Probate and Estates

Wed, 16 Dec 2015 12:40:46 -0600

The property of a deceased individual is called his or her Estate. The Succession Law governs a person's estate in Israel after their passing.

The Truths About Estate Planning That You Need To Know

Wed, 11 Nov 2015 11:21:29 -0600

Understanding about Estate Planning and avoiding the 2Cs which are avoid confusion and avoid conflicts. Therefore it is important to conduct an Estate Planning and save your family a whole lot of troubles. Working on the plan requires the guide of a qualified Estate Planner who will work with you to establish a good Estate Plan for your loved ones.

The Benefits Of Using Mediation For Estate Planning

Mon, 09 Nov 2015 13:10:18 -0600

Estate planning is the complicated process involving the older generation passing on its wealth to the younger generation. Unfortunately it can be the source of many disagreements, and even court litigation. With all good intentions, many parents create an estate plan so their loved ones won't have to deal with lengthy probate court proceedings.

Estate Planning - Planning for the Future

Tue, 06 Oct 2015 11:45:05 -0500

Regardless of your age, it is important to properly plan for the handling of your estate. While death is something we do not want to think about, an unexpected death can wreak havoc on an estate without the proper planning. Read more...

The Number One Estate Planning Mistake to Avoid

Wed, 30 Sep 2015 13:53:23 -0500

Estate planning is an essential part of an overall financial plan. We discuss the number one mistake made with estate planning.

Two Big Reasons Estate Planning Is Very Important

Thu, 17 Sep 2015 12:45:24 -0500

Estate planning is an important aspect of preserving your property for the next generation. Here are two reasons why.

Even Supreme Court Judges Need an Estate Planning Attorney

Thu, 17 Sep 2015 12:40:31 -0500

Even seasoned lawyers can fall victim to simple mistakes by drafting their own wills. A visit to an estate planning attorney could help you avoid these pitfalls.

The Top Four Things You Need To Know About Estate Law

Thu, 17 Sep 2015 12:39:53 -0500

Estate law isn't just a matter for the wealthy. Learn how to protect your estate and the ones you love.

The Importance of Estate Planning Attorneys In Protecting Assets

Thu, 17 Sep 2015 11:29:11 -0500

An estate plan is a legal arrangement dictating the disposal of a person's estate. Estate planning attorneys have the training and experience to guide you in this complicated process.

Estate Planning Lawyers Are the Components That Make Up an Ideal Estate Plan

Thu, 17 Sep 2015 11:28:37 -0500

Estate planning lawyers can assist you in creating a last will and testament that will prevent assets from being distributed unfairly to your loved ones. However, for more control over your decisions post incapacitation, then you may opt to include a living will, trust, durable power of attorney, and power of attorney to your estate plan.

Estate Plan: A Wise Decision

Fri, 11 Sep 2015 10:52:37 -0500

Taking the time to plan your estate not only outlines your wishes, but saves your loved ones stress and financial hardship in the end. Carefully setting up an estate plan can help avoid probate and leave more for your loved ones.

The Ins and Outs of the Home Equity Conversation Mortgage Program

Wed, 09 Sep 2015 15:59:32 -0500

This article reviews the benefits and disadvantages of the Home Equity Conversation Mortgage program. Qualified homeowners should carefully consider this mortgage option as a tool for greater financial independence.

What An Estate Planning Law Firm Can Do For You

Tue, 25 Aug 2015 13:09:05 -0500

An estate planning law firm can help you ensure your family's future. Read more about the services they offer here.

Two Reasons to Consider Estate Planning

Tue, 25 Aug 2015 13:03:22 -0500

Estate planning is an important way to protect your possessions and holdings even after death. Here are two reasons why it is so important.

An Attorney Represents Peace of Mind When Estate Planning

Tue, 25 Aug 2015 13:03:06 -0500

An attorney can represent a client in the matter of estate planning. This process legalizes certain provisions that ensure all affairs are in order during a time of grief.

Reasons Why You Might Want To Borrow Against an Inheritance

Wed, 01 Jul 2015 13:30:14 -0500

If you are entitled to an inheritance and that inheritance is going through probate you will probably be in for a long wait, possibly over a year, before you can get your hands on the money. However there is such a thing as borrowing against the inheritance money.

Taking The Mystery Out Of The Probate Cash Advance

Wed, 01 Jul 2015 12:49:25 -0500

In easy to understand terms a probate cash advance allows a beneficiary or heir to collect on their inheritance without having to wait for it to go through probate. Waiting for your inheritance can take up to two years when it goes through the probate process. So let's take a look into it and find out the ins and outs and whether an advance might be suitable for you?

Estate Planning When You Have Young Children

Mon, 29 Jun 2015 15:20:57 -0500

Estate planning is essential to protect young children in the case of your death. Have a will that names a guardian, life insurance, a living will, and powers of attorney in place.

Payable on Death Accounts and How an Estate Planning Attorney Can Help

Fri, 26 Jun 2015 06:49:09 -0500

An easy way to pass assets to heirs when you die, payable on death accounts have their fair share of pros and cons. Find out more about these accounts, their pros and cons, the benefits of having help from an estate planning attorney, and more in this article.

Four Important Considerations for Estate Planning and Creating a Will

Fri, 26 Jun 2015 06:33:11 -0500

Estate planning can be a difficult task, particularly near the end of one's life. Considering a few things in advance can help make this process easier for all parties involved.

What Yogi Berra Can Teach Small Business Owners About Estate Planning

Wed, 17 Jun 2015 06:03:14 -0500

According to baseball legend Yogi Berra, "If you don't know where you are going, you will probably end up somewhere else." Yogi's one liners often make me laugh, but they also make me think. His quip reminds me of the importance of having a plan when engaging in any endeavor that will impact our personal situations beyond the immediate here and now. That includes the process of estate planning. Now, I will grant you that Yogi probably wasn't thinking about estate planning when he offered this particular slice of wisdom. Nonetheless, his words are absolutely spot-on insofar as the importance of planning for that day which we will not live to see. As important as having an estate plan is for all of us, it is of even greater importance for the small business owner. I think it is no exaggeration to say that thoughtful estate planning is an essential component of every small business owner's overall business plan.

Estate Planning Lawyers Say You Need These Four Important Documents

Fri, 05 Jun 2015 06:50:37 -0500

In addition to a basic will, there are three other documents estate planning lawyers say you need. Find out what they are here.

Some Basic Facts About Estate Planning

Fri, 05 Jun 2015 06:47:18 -0500

Regardless of your income, you need to make decisions about your finances before you pass away. Learn general tips for estate planning to resolve potential issues.

How Estate Planning Law Firms Can Help You Put Your Finances In Order

Fri, 05 Jun 2015 06:31:25 -0500

About half of all Americans die without a valid will. Estate planning law firms can help you avoid the confusion this predicament causes.

Why Is Having an Estate Plan Important?

Wed, 03 Jun 2015 06:34:58 -0500

Information about why having an estate plan is important. Learn about the estate planning process and why having an estate plan can protect your family.

Five Frequently Asked Questions About Estate Planning

Thu, 21 May 2015 06:04:19 -0500

Are you one of the hundreds of millions of Americans who has not visited a law firm to make a valid will? In this brief article, get the answers to the most frequently asked questions about this important legal document.

Trust - An Alternative to A Will

Tue, 19 May 2015 08:23:56 -0500

Instead of a will, one may use a trust to distribute his assets to his beneficiaries. As a trust is a confidential document, its content would not be revealed to the public.

Revocable Trusts: A Good Idea?

Wed, 04 Mar 2015 13:15:56 -0600

Is a revocable or living trust for you? Read this article to find out!

Will You Pay Too Much Inheritance Tax?

Thu, 26 Feb 2015 15:29:09 -0600

Why did the treasury manage to obtain around ?3.3 billion from IHT during 2013/14 when this is an avoidable tax?

Test Your Knowledge With This Planned Giving Quiz

Tue, 24 Feb 2015 13:15:16 -0600

Have you ever wondered how much you know about charitable gift giving and/or estate planning? Try this true/false quiz to test your knowledge of planned giving and estate planning concepts.

Reduce Taxes and Headaches By Planning Real Property Transfers

Wed, 18 Feb 2015 13:10:09 -0600

In an estate plan, when you pass away, you are the one who decides who you want your property to go to, and how you want them to receive it. Any land and any improvements such as a house or a crop that have been made to that land are considered to be real property. There are several options you have when leaving someone real property.

Planning For Portability

Thu, 12 Feb 2015 13:17:38 -0600

In a world of smartphones and tablets, portability is something we take for granted in our gadgets. But thanks to some recent legislative changes, it is now something that estate planners can take for granted too.

6 Myths About Estate Planning

Tue, 10 Feb 2015 07:40:16 -0600

There are many misconceptions and myths surrounding estate planning. Learn the facts so you can protect your dependents interests and your assets. You're never too young to start planning for the future.

How To Go About Dividing A Deceased Person's Property?

Thu, 29 Jan 2015 06:04:22 -0600

It is a stressful time when there is a death in the family. However, it is important to settle the property matters at the right time to avoid any clashes in the future,which might turn unpleasant.

What Is the Cost of a Living Trust in California?

Tue, 27 Jan 2015 09:08:55 -0600

The cost of a living trust in California varies widely. Here, we compare the options available to you.

Estate Planning Overview Update - Key Issues to Consider for Your Wills and More

Mon, 26 Jan 2015 15:18:09 -0600

This overview presents the key issues to consider when designing and executing the best estate plan. Also, the work does not stop at signing your estate plan documents; you must also complete the follow up work of beneficiary designations, memorandum to fiduciaries, etc. The goal is to avoid the pitfall of no plan done and the disaster when wills and trusts are in place but the asset ownership and beneficiary designations frustrate the plan by having assets pass to the spouse and not the trust.

Three Essential Estate Planning Tasks

Mon, 29 Dec 2014 11:48:36 -0600

My top three recommendations for basic estate planning. Make sure that you have a plan in place to take care of yourself and your family.

Proper Estate Planning Is Essential for Everyone

Mon, 27 Oct 2014 10:56:47 -0500

Estate planning is vital for everyone to arrange in advance. Don't let the state determine how your assets will be divided--draft an estate plan specific to your family needs today.

Financial Preparedness - Get Your Affairs in Order

Mon, 27 Oct 2014 05:57:22 -0500

Do you have a will? If you are married, do you have a joint bank account? If you have life insurance, are your beneficiaries named? Are your financial affairs in order? Dying without a will is expensive, time-consuming and often heartbreaking for those left behind to try and figure out how best to proceed. Planning for death eases the burden on loved ones.

How to Benefit Your Grandchildren With Smart Estate Planning

Fri, 05 Sep 2014 10:19:19 -0500

Too often gifts to grandchildren do not accomplish what the grandparents hope for. This article describes how not to do it. Then it explains the best way to make gifts to you grandchildren so what you want to happen will.

What Is Estate Planning and Is It Useful?

Thu, 28 Aug 2014 14:19:48 -0500

Estate planning can be a useful aim for multiple reasons. Is this choice right for you?

Clutter Free Zone - Part 1

Wed, 27 Aug 2014 11:15:52 -0500

We spend the first half of our lives acquiring things, and the second half getting rid of them. Those "things" can become clutter; fill storage spaces and waste valuable space. I recently had the responsibility of clearing my mother-in-law's home. This is the third elderly relative I have had this "opportunity". I have learned a few things in the process. From this experience, I am making changes in my home. I am preparing for that day we may downsize or somebody will have to clear my home.

Top Reasons to Do Your Estate Planning Now

Tue, 15 Jul 2014 15:26:27 -0500

There is no time like the present, and that is especially true in the world of estate planning. Although it is preferable to live a long and healthy life, it is always prudent to plan in advance to ensure your wishes are carried out as you desire.

Cover Your Bases With Estate Planning

Wed, 09 Jul 2014 12:39:00 -0500

As an original concept of estate planning, creating a will is a part of it. By writing a will, money and property are divided after someone's death. There is a living will, which relates to medical treatment and any procedures that must be adhered to in case the originator becomes extremely or deathly ill.

Dental Lasers Vs. Litigation: Estate Planning And Dental Care Comparisons

Thu, 05 Jun 2014 07:53:33 -0500

Medical surgeries involving dental lasers can arise from lack of proper care. Is financial literacy just as vital as dental care education?

Estate Planning Tools for People With Disabilities

Tue, 29 Apr 2014 07:34:52 -0500

Everyone should consider how their finances will be taken care once they pass on from this planet. For people with disabilities, care should be taken as to how they will be attended to as well as maximizing government credits and minimizing taxation of their assets. Since they have disabilities, there are different financial planning tools that are available. For cases where an attendant, guardian or caregiver is required, assets should be managed for the present and future periods on behalf of someone with disabilities.

Assigning Power of Attorney (PoA) With Confidence

Mon, 14 Apr 2014 11:23:08 -0500

Incapacity planning, ensuring that there's a strategy in place if you ever become incapable of managing your affairs, is important. We all know that. Yet, it's uncomfortable to think about and therefore easy to put off doing.

QNUPS Explained - Helping You Plan for the Future

Tue, 08 Apr 2014 13:44:29 -0500

When we consider our retirement planning we often find that the available assets or funds that we have to choose from are limited - or that perhaps in hindsight we would have liked to have chosen something else. There have been some recent changes in UK law and so now the QNUPS allows us more choice than we've previously been used to - but what is a QNUP and what does it do?

QNUPs Benefits - What's in It for You?

Tue, 08 Apr 2014 12:01:15 -0500

As we all know the assets that you initially invested in for your pension fund may have proven to be a little more toxic than expected - so what's the alternative? There's been a couple of changes in the UK and specifically the use of QNUPs now allows the investor more choice of investment vehicles. So what are the benefits of using QNUPs?

Why Is Estate Planning Good For You?

Mon, 31 Mar 2014 15:23:16 -0500

Estate Planning involves creating a strategy and plan for individuals who want to fairly distribute their wealth and property after their demise. The plan or arrangement permits authorities to distribute wealth to the family or inheritors the way you have prescribed or allotted.

Common Mistakes In Estate Planning That Most People Make And How To Avoid Them

Tue, 18 Feb 2014 10:32:30 -0600

An overwhelming number of people lack even basic estate plans, leaving their wealth, possessions, and minor children at risk. Without a solidly built estate plan, individuals, families, and business owners are defaulting to the courts with very inevitably poor outcomes. Here a few of the most common estate planning mistakes along with simple strategies for overcoming them.

Will Contest: Impact of Mediation Settlement Agreement

Thu, 16 Jan 2014 13:33:25 -0600

In re Pierce v. Pierce, the First District Court of Appeals (1st DCA) sets the standard for utilizing a mediation settlement agreement in estate litigation cases similar to family law. In fact, it was the 1st DCA's opinion that it is well established that "mediation and settlement of family law disputes is highly favored in Florida law." See Griffith v. Griffith, 860 So. 2d 1069, 1073 (Fla. 1st DCA 2003). Further, section 733.815, Florida Statutes is embraced by the Florida Probate Code in settling probate disputes and provides that "interested persons may agree among themselves to alter interests, shares, or amounts to which they are entitled in a written contract executed by them. The personal representative shall abide by the terms of the contract... " (emphasis added). The lower court judge held that he could not find that Linda entered the agreement "freely, knowingly and intelligently" and set aside the settlement agreement. Thereafter, the case went to the 1st DCA. The 1st DCA reversed the lower court's ruling. In re Pierce, 2013 Fla. App. LEXIS 19597, 2013 WL 6438955 (Fla. Dist. Ct. App. 1st Dist. Dec. 10, 2013).

More Than Money: Focus on Your Legacy With an Ethical Will

Wed, 15 Jan 2014 12:04:01 -0600

When most people sit down to write a will, they typically focus on how their material goods will be distributed after their death. While those instructions will provide an invaluable roadmap for those who will inherit, they stop short of addressing something you should be concerned about: your legacy.

Estate Planning: Irrevocable Life Insurance Trust Isn't So Crummey

Wed, 15 Jan 2014 10:36:06 -0600

This article is series three of the Irrevocable Life Insurance Trust series. The tax loophole referred to as "Crummey Power" is named after Clifford Crummey who created a trust in order to transfer his assets with the intention of avoiding estate and inheritance taxes upon his demise. The Internal Revenue Service was not pleased and in 1968, took Crummey to court for what they termed as an illegal tax loophole. Crummey's victory in court created a precedent making the trust an acceptable tool in estate planning.

Dividing The Family Farm

Wed, 08 Jan 2014 13:20:56 -0600

Dividing some assets is a simple matter of math. Other assets, however, seem to pose as large a problem as the baby in the legend of King Solomon. Family farms, like that infant, are often both beloved and challenging to divide.

Estate Planning: Asset Protection Benefits of an Irrevocable Life Insurance Trust

Thu, 19 Dec 2013 16:31:10 -0600

An Irrevocable Life Insurance Trust is not just for the wealthy with estates over $5.25 million. An Irrevocable Trust may be useful for asset protection for mid-size estates to provide protection from potential lawsuits and claims. For instance, when a life insurance policy is held by the trust, the cash value (if any) and the proceeds are also protected from potential creditor claims. As part of estate planning, you can arrange for a set amount of savings to be transferred to the trust annually and the funds will be used to pay on the policy.

Estate Planning: Should I Create an Irrevocable Life Insurance Trust?

Thu, 19 Dec 2013 16:13:12 -0600

Why Would I Want to Create an Irrevocable Life Insurance Trust? When it comes to estate taxes, a life insurance policy is included as part of the gross estate. Therefore, a sizable insurance policy may cause an estate tax burden on an insured's estate decreasing the beneficiaries share.

Florida Estate Planning: What Is Florida's Stance on Domestic Asset Protection Trusts?

Mon, 09 Dec 2013 16:42:48 -0600

What instrument or provision is available in Florida for asset protection? A brief overview of Florida's Spendthrift Trust and spendthrift provision in living trusts to provide asset protection for non-self-settled trusts.

Protect Your Assets With Estate Planning

Wed, 06 Nov 2013 13:50:40 -0600

This article explains why estate planning is important, even to people with relatively small estates. It does not only protect your assets at the time of your death, it also makes sure that your beneficiaries receive their share of your estate without having to pay large taxes.

The Importance of Estate Planning for Alternative Families

Wed, 23 Oct 2013 09:40:47 -0500

Although marriage equality is slowly spreading throughout the country, Florida still does not recognize same sex marriage. This article makes sure that same sex couples and alternative families are protected when unfortunate incidents happen by helping them draft an estate plan that gives them authority to act in behalf of each other and determine asset distribution in the event of a loved one's death.

Why You Should Own a Piece of Kent Island's Real Estate

Mon, 07 Oct 2013 11:34:46 -0500

Kent Island gives you the comforts of urban life with a touch of rural living, the most enjoyable lifestyle in secure neighborhoods. The island was one of the locations where we had the first European settlement, which explains the European influenced architectural designs dotting the area.

Store Estate-Planning Documents So They Can Always Be Found

Thu, 03 Oct 2013 07:40:34 -0500

If you've ever misplace an important document, you know how frustrating it is. Well think how hard it is for someone else to find your documents when you can't and when they don't even know if such documents exist. Be sure to store them so they can and will be found.

3 Things to Consider With Asset Protection

Fri, 09 Aug 2013 13:15:38 -0500

Asset protection relates to using a variety of legal schemes for protecting certain assets, like money, buildings, or land, from potential legal disputes or seizures. By implementing asset protection in the right way, an investor is also able to benefit from using these types of strategies.

What Are the Different Types of Trusts to Use?

Fri, 09 Aug 2013 13:15:06 -0500

Even though a lot of people might believe arranging a trust is more likely to benefit those that are very well off, they are still able to offer certain benefits to families that just have the more modest assets. A trust can be set-up as part of a will or to can come into force at anytime throughout the lifetime.

What Are The Advantages Of An Asset Protection Trust?

Tue, 06 Aug 2013 10:29:03 -0500

An asset protection trust offers a perfect solution for holding certain assets (life insurance policies, cash investments, real property, etc) for a specific beneficiary, which can be a group or a single person. There are several different advantages to transferring the personal belongings into a trust.

Advantages of Preparing a Living Trust

Wed, 31 Jul 2013 13:08:20 -0500

Setting up a living trust is a good option for those who want to safeguard estate assets and pass them along after death. This strategy helps loved ones avoid having to endure probate and simplifies estate settlement procedures.

Understanding the Primary Function of Probate Court

Wed, 31 Jul 2013 10:54:08 -0500

Probate court was established to ensure that individuals' rights are protected and that decedent estates are reconciled in accordance with state laws. Probated estates must pass through specific procedures before assets can be distributed.

Why You Need to Write a Will and Testament

Tue, 30 Jul 2013 16:02:25 -0500

People have tendency to procrastinate about writing a will and testament. For most, it's because they aren't sure where to start or what is required. While the process is relatively simple, it's best to consult with an estate lawyer to make certain documents are prepared correctly.

Protecting Estate Assets With a Revocable Trust

Mon, 08 Jul 2013 09:43:24 -0500

Setting up a revocable trust is an easy and affordable estate planning strategy that offers multiple benefits. Along with safeguarding assets, the estate is exempt from probate; allowing inheritance gifts to easily transfer to heirs.

Types Of Wills In Estate Planning

Wed, 03 Jul 2013 15:20:24 -0500

Wills are vital legal declarations that dictate which beneficiary should receive which asset upon the testator's death. Family feuds can arise in the absence of a will as family members fight over who gets what. Wills minimize this by settling distribution of assets by the testator.

Tax Perspectives - How to Hold Title on Your Home

Tue, 02 Jul 2013 12:55:33 -0500

You are getting ready to purchase your first home and you are presented with a question: "How do you want to hold title to the property?" Huh? You'd learned all about qualifying for a mortgage, interest rates, home inspections, and countless other things. You must have missed this one. Unfortunately, answering the question is not just choosing between one thing and the other. In fact, it can be very complicated.

The 3 Most Popular Child Trust Fund Options

Thu, 27 Jun 2013 16:29:06 -0500

Setting up a child trust fund is one of the most practical estate planning strategies. This type of trust can be used to provide educational funds and cover the cost of living expenses and medical care, as well as protect inheritance gifts.

Important Estate Planning Steps You Need to Consider

Mon, 24 Jun 2013 15:52:37 -0500

Most estate planning lawyers aver that incapacity or death of the owner of an estate is one of the main reasons why estate planning is absolutely necessary. This is the best way to prevent conflicts between heirs. It also helps to systematize the process, and it works to reduce taxes and increase the value of the estate.

How To Buy The Best Real Estate Property For Investment

Wed, 12 Jun 2013 09:47:48 -0500

Many people are looking to buy a real estate property. They can use this as an investment or as a place to build a house.It's time to find out more about California real estate read this article now!

Things to Consider When Preparing Wills

Wed, 12 Jun 2013 08:46:16 -0500

People are often unaware of the benefits of preparing Wills. Many believe they only need one if they own valuable assets or titled property they want to pass along to heirs upon their death.