Estate planning is much more than simply drafting a will and leaving it at that. If you’re a parent, you want to make sure you’re putting your children in the best possible position for decades to come. If you’re a…
As the federal estate tax exemption has ballooned, the need for estate tax planning has drastically decreased. Instead, higher income tax rates that were ushered in under the American Taxpayer Relief Act of 2012 (ATRA) have shifted the focus of…
One of the most popular questions that I get from potential clients is what’s the difference between a will and a trust. Most articles on this topics, however, often presume that everyone knows the basics of these essential documents. But,…
As the season changes from summer to fall, many families say goodbye to their kids as they leave for college for the first time. For many kids, this is their first time they are away from home for an extended…
No matter how good you are are planning, other people are almost always affected by your decisions and actions as well as your success and failures. The people who are affected are often the ones we care about the most…
Media mogul Sumner Redstone – owner of CBS and Viacom, among other holdings – allegedly created quite an estate planning mess, according to a recent report in the New York Times. The article reports that “with a fortune estimated at…
During your lifetime, your retirement account has asset protection, but as soon as you pass that account to a loved one, that protection evaporates. One lawsuit and POOF! Your lifelong, hard-earned savings could be gone. Fortunately, there is an answer.…
Estate plans are almost magical: they allow you to maintain control of your assets, yet protect you should you become incapacitated. They take care of your family and pets. And, if carefully crafted, they reduce fees, taxes, stress, and time…
While it is an honor to be named as a personal representative (formerly an executor) of a will or estate, it can also be a sobering and daunting responsibility. Being a personal representative requires a high level of organization, foresight,…
As parents, we always want to be there for our children and help make them avoid making bad decisions. Sometimes we’re too involved and should let our children make mistakes to help them grow. Other times we are not there…