Browse Our Estate Planning Articles
Some of these articles have been written by our law firm and other articles are written by the American Academy of Estate Planning Attorneys and compliments of our law firm. Any feedback or questions about the articles can be addressed by contacting our office.
There's No Time Like the Present to Review your Plans
Time passes quickly. Life brings change. While these may seem like platitudes, they reflect the truth of most people's lives. This article will encourage you to recognize a new life stage as an opportunity to review and fine tune your estate plan.
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Look After Your Spouse Even After You're Gone
You and your spouse have worked hard to save for your golden years. But have you planned for a long, secure retirement if one of you outlives the other? Here’s how paying attention to certain key financial areas can set both of you up for a secure, worry-free retirement.
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Choose Your Estate Planning Practitioner Wisely
Who should you entrust with planning your estate? Unfortunately, the estate planning industry can be a mixed bag. Along with licensed, qualified attorneys there are unqualified, or even unlicensed, individuals producing cookie-cutter estate plans that may or may not work as intended. Find out why you should choose your estate planning practitioner wisely.
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Don't be Fooled: Estate Planning Isn't Just for the Wealthy
Estate planning is not just for the wealthy. The truth is, estate planning is about achieving some pretty common goals and taking care of basic responsibilities, regardless of how big or small our investment portfolio happens to be.
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Short and Sweet is Not Always Better
When you compare a do-it-yourself living trust with one that was prepared by a qualified estate planning attorney, one of the first things you’re likely to notice is that the attorney-prepared trust is long. And it might not be so easy to read. There’s a good reason for this. This article discusses the reasons why planning for contingencies with an attorney drafted estate plan is the better choice. When it comes to estate planning, there’s any number of contingencies to prepare for.
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Leaving a Lasting Legacy
When you really think about it, your true wealth is much more than just your accumulated assets or material possessions. With the right plan, you can protect and preserve your true wealth and create a legacy for your family that will last for generations to come.
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Practical Strategies for Protecting Your Privacy
We’re all exposed to invasions of our privacy, large and small, during our lifetimes and even after death. These practical strategies make it easier to shield your family’s personal affairs from prying eyes.
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Puppy Love: Planning Your Estate With a Pet Trust
Increasingly, pet owners are not just worried about providing for our pets during our lifetimes, we want to ensure that they get all the love and care they need after we’re gone, too. This article discusses the estate planning benefits a Pet Trust can provide for your furry and feathered animal companions.
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Estate Planning Without a Crystal Ball
When you are planning your estate, it is important to remember that circumstances rarely stay the same over long periods of time. A plan that worked for your family when the kids were little may very well be obsolete by the time they've started families of their own. This is why it's important to ensure that you build flexibility into your plan.
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Planning Your Estate? Don't Forget Insurance
The term "estate planning" usually calls to mind the process of creating a Will, establishing a Living Trust, or naming a guardian for young children. One piece of the estate planning puzzle that might not be readily apparent, though, is insurance. Learn how insurance in its many forms plays an important role in the estate planning process.
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Help! My Attorney No Longer Practices Law
It's not something we often stop to think about, but attorneys experience life changes like anyone else. They may change careers or experience an illness or disability, or they may retire or even pass away. This article discusses the steps you should take if your estate planning lawyer no longer practices law.
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What to Expect When You're Inheriting
At some point in our lives, we all dream of receiving an inheritance. We envision buying a new car, finally being able to afford private schools for the kids, or maybe even taking a trip around the world. But the reality of inheriting money or property often differs from our dreams. The process of settling an estate and distributing a deceased person’s assets can be time consuming. During this process you may have questions about taxes on various types of assets you may be inheriting, such as IRAs, valuable collectibles, and other property. This article provides a summary on what you can expect during this process if you’re anticipating an inheritance.
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Parenting Your Grandchildren? You Need a Solid Estate Plan
According to data collected in the 2010 census, 4.9 million children under age eighteen live in grandparent-headed households. If you are in this growing number of grandparents returning to your “parent” role again, one of the pressing responsibilities that accompany your job as caregiver is to make sure you have a plan for your grandchildren in the event that something happens to you. And because you’re older now than you were the first time around, planning becomes even more important. This article reviews why it is imperative to have an estate plan in place and what a basic plan should include.
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Why are Roth's Such a Big Deal?
A Roth IRA has some important distinctions from a traditional IRA, and, depending on your tax bracket, your retirement needs, and your estate planning goals, a Roth could be a better choice for you. So, what's the difference between the two types of IRAs? This article explores how each IRA works and which option can best fit your personal needs and goals.
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10 Essential Estate Planning Facts
An alarming 55% of American's don't have an estate plan in place. Procrastination is a common excuse. However, for many people it's a lack of knowledge about estate planning, including the benefits, their options and the protections it offers them and their families. This article reviews 10 essential estate planning facts that will arm with you with enough knowlege to cross estate planning off your "to do" list.
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What Does a Millionaire Look Like?
Last year, the number of households in the United States with a net worth of $1 million or more grew by 16%, reaching 7.8 million. So, what does a typical American millionaire look like? The answer may surprise you. This article reveals characteristics and habits these self-made millionaires have in common and how you can learn and prosper from their example.
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Recently Divorced? Make Sure You Tie Up All The Loose Ends
As anyone who's been through a divorce can confirm, it can be an emotionally draining and devastating experience. Once the divorce is finalized, you may think that all your legal ties to your former spouse are completely severed. However, it couldn't be further from the truth - especially if you created an estate plan while you were married. This article discusses which estate planning documents need to reviewed and newly created, and the beneficiary designations that need to be updated after a divorce.
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What to Do With a Windfall
We've all had dreams of striking it rich one day. But what would you do if your dream actually became reality? If you unexpectedly come into an inheritance or a large sum of money, it is important to know what other issues come with this new found wealth. Taxes, estate planning and financial planning to name a few, need to be considered and addressed. This article covers what to do if your dream of sudden wealth comes true and how best to handle this happy windfall.
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How to Help Others While Reducing Your Taxes
Lately it seems like natural disasters around the world are regular occurrences; from earthquakes in South America and China to hurricanes in the Atlantic and Gulf of Mexico. We feel empathetic for the victims, but often feel powerless to help. While we may be too far to personally help the victims of these disasters, many of us send donations to help people in these communities. However, sending a check may not be the wisest choice for taking advantage of the potential tax saving benefits offered through other gifting methods. This article discusses the main gifting strategies for maximizing tax benefits, such as Charitable Trusts.
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Home Comforts: Maximizing Your Most Valuable Asset
If you're like many Americans, your home is your single most valuable asset, both emotionally and financially. In addition to being the center of your family life and possibly your most significant financial investment, your home can offer you benefits in terms of taxes, estate planning and asset protection. This article provides various examples of the benefits you can take advantage of as a home owner. With the help of a qualified estate planning attorney, you can make the most of your home, now and in the future.
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Estate Planning: It's About More Than Taxes
In 2010, contrary to a lot of people's expectations, Congress allowed the one-year repeal of the estate tax. Despite all the fuss, the estate tax repeal didn't eliminate the need for estate planning. Why? Estate planning is about so much more than just taxes. This article discusses the many non-tax related reasons why it's important to have an estate plan in place.
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I Just Inherited Money! Now What Do I Do?
This article examines what a beneficiary should consider when they find out they are receiving an inheritance. It touches on basis step-up, disclaimer, non-inclusion in income, etc.
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I'm a Trustee, Now What Do I Do?
We've all heard of trusts. Trusts are used as an estate planning tool to avoid probate and to provide flexible planning to accomplish personal and tax goals. But where does a trustee fit into the picture?
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