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If you own a vacation home, timeshare, investment property, or any other asset outside of the state where you are domiciled you must make sure it’s included in your estate plan. If you fail to include these in your estate…
Hugh Hefner was known for throwing lavish and decadent parties at his Playboy Mansion. The parties were often described as wild affairs that lasted well into the night. Hefner might have been known for these wild parties, but he wanted…
The federal estate tax has been in the news recently after the passage of the Tax Cut and Jobs Act, which doubled the exemption amount for estate, gift an generation-skipping taxes. In 2018, individuals can shelter $11.2 million, and couples…
There are several parts to an estate plan, one of them being a living trust. Common factors that prompt someone to create a trust include privacy, tax benefits, avoiding probate, and caring for family members with special needs. Estate planning…
Selecting the right type of annuity for yourself is no small feat. Of course, you’ve put in the research and planned with your financial advisors. But, you might still be wondering what happens to those annuity payments upon your death.…
It’s the start of a new year, which means tax season—and this year’s April 17th IRS filing deadline—is just around the corner. Soon you’ll be receiving tax forms such as your W-2 or 1099s, and you’ll start thinking about the…
A comprehensive estate plan should address all of your assets. For most people, an estate plan must include three common categories: (1) your home; (2) financial accounts, like your checking and savings account; and (3) personal property. Other types of…
Money may be the most talked about wealth contained within a person’s estate, but the riches of their experience and wisdom can mean even more to family members down the line. Family traditions can be built into your estate plan…
It’s unrealistic to think that an estate plan you draft, reflecting your life at a certain time, will work when your life has completely changed some years later. We’ll use the Kendrick family as an example. Meet the Kendricks Meet…
Studies have shown that 70% of family wealth is lost by the end of the second generation and 90% by the end of the third. You need to understand, and work to overcome, the disconnect that occurs between generations regarding…