Social Security scams are on the rise, with fraudsters using phone calls, emails, and even text messages to trick unsuspecting individuals into revealing personal information. These scams can lead to identity theft, financial loss, and unnecessary stress. To help you stay safe, here’s what you need to know about recognizing and avoiding Social Security scams. […]
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Did Matthew Perry get his estate planning right? The answer might surprise you.
He was worth $120 million, yet his probate estate only had $1.6 million. How? Because most of his wealth was protected in a trust, keeping it private and out of court. But even with solid planning, a few small missteps forced some assets into probate, making them public. So, did he do the right thing? […]
The Social Security Fairness Act: Will It Affect You?
President Biden has signed legislation that will boost monthly benefits for nearly 3 million people in 26 states who rely on Social Security. The Social Security Fairness Act abolishes two decades-old rules that have reduced or altogether axed benefits for some retirees. The Social Security Fairness Act addresses long-standing issues with some provisions of the […]
Start the Year with Strategic Tax Planning for Your Estate
As the new year begins, it’s the perfect time to revisit and enhance your estate planning strategies. Effective tax planning ensures your assets are distributed according to your wishes while minimizing tax burdens on your heirs. With significant changes on the horizon proactive planning is more important than ever. Why Early Tax Planning Matters Starting […]
Handling a Loved One’s Debts After They Die
Americans are, quite literally, getting buried in debt, with nearly half expecting to pass away with outstanding debts. As a general rule, a person’s debts do not go away when they die. Some types of debt, such as federal student loans, are typically forgiven upon the debtor’s death, but private loans and cosigned accounts may […]
Does Your Revocable Living Trust Reduce Your Federal Estate Tax Bill?
Many believe that once they set up and fund a revocable living trust, property held in the trust will completely avoid federal estate taxes after they die. In reality, a living trust does not provide any unique estate tax avoidance strategies. The primary mechanisms for reducing estate taxes—the unlimited marital deduction and the charitable deduction—apply […]
Beyond Algorithms: The Irreplaceable Value of Human Touch in Estate Planning
In today’s rapidly evolving technological landscape, artificial intelligence (AI) has made significant inroads into various sectors, including estate planning. While AI-driven tools offer a glimpse into the future of streamlined and automated processes, they fall short in addressing the intricate and deeply personal aspects of estate planning. Here’s why the nuanced expertise and empathetic approach […]
Protecting Your Digital Assets: Estate Planning and Avoiding Holiday Scams
The digital age has transformed how we manage and interact with our personal and financial lives. From online banking and social media profiles to digital currencies and cloud storage, our digital assets have become integral parts of our existence. As we plan our estates, it’s crucial to consider these digital possessions to ensure they’re protected […]
Is it Time to Let Go of Those Old Documents?Â
Sorting through documents, from medical records to financial statements, is a balancing act between necessity and clutter. So, how do you know what to keep and what’s simply junk?  Here’s a breakdown: Tax Returns Save returns and supporting documents for three years, or six if it’s complex or self-employment-related, aligning with the IRS audit window. […]
Add An Estate Plan to Your Christmas ListÂ
The holidays can serve as a perfect backdrop for meaningful family discussions and for relaying relevant information between family members. Whether you already have an estate plan in place or are thinking about having a plan drafted for you, you’d be wise to use the time spent together during the holidays to get every family […]
Recognizing and Supporting Family Caregivers in Estate Planning
Family caregivers are the backbone of support for loved ones facing aging, illness, or disabilities. They often step in selflessly, ensuring the emotional and physical well-being of their family members while juggling their own lives. November, designated as National Family Caregivers Month, is a perfect time to shine a light on these unsung heroes and […]
Gratitude and Legacy: Giving Thanks Through Estate Planning
As the holiday season approaches, it’s natural to reflect on the many things we’re grateful for—family, health, friendships, and the opportunities life has provided. But gratitude is more than an emotion; it’s a way of life that can shape how we plan for the future and the legacy we leave behind. Estate planning offers a […]
Year-End Estate Planning: Key Steps to Protect Your Family and Assets
As the year winds down, it’s the perfect time to take stock of your estate plan and ensure everything is in order. The end of the year often brings reflection, resolution-making, and a focus on family, making it an ideal time to prioritize your planning. Here are the essential steps to consider for year-end estate […]
How to Discuss Your Estate Plan with Your Family During the Holidays
The holidays are a time for family, celebration, and meaningful conversations. While discussing estate planning might not seem festive, it’s one of the most thoughtful and impactful gifts you can give your family. Open, honest communication about your estate plan can help avoid confusion, misunderstandings, or disputes in the future. Here’s how to approach this […]
Have You Checked Your Beneficiary Designations Lately?
You regularly check the balances of your retirement, bank, and investment accounts. But when was the last time you checked the beneficiary designations on these accounts (and really, all the other accounts that allow you to name a beneficiary)? It may have been years since you first opened an individual retirement account, bought a life […]
How to Tackle the Busiest Season of the Year
As the end of the year approaches, many of us find ourselves balancing holiday gatherings, year-end tasks, and planning for the year ahead. While it’s tempting to put estate planning on hold during this busy season, taking a proactive approach now can provide peace of mind, protect your loved ones, and help you start the […]
The Corporate Transparency Act: What It Means for Terminated Businesses
With the recent implementation of the Corporate Transparency Act (CTA), many business owners are becoming aware of new compliance requirements, specifically the Beneficial Ownership Information (BOI) reporting. While it’s clear that active companies must file, many owners may not realize that businesses terminated between 2020 and 2024 are also required to complete this filing. The […]
Don’t Let Your Estate Plan Go Up in Smoke
Fewer people are creating estate plans today than in years past. Research shows that, in 2024, less than one-third of Americans report having a will.[1] Every adult—whether they are 19 or 99—should have a will at a minimum. Many people can also benefit from estate planning documents such as trusts, powers of attorney, and advance […]
Should You Share Your Estate Planning Details With Loved Ones?
When you decide to create a comprehensive estate plan, there are many things to consider. One is whether to tell your loved ones about your plan and how much information to share with them. Estate planning can be a complex and sensitive matter, so your choice may depend on your unique relationships with loved ones […]
Can Artificial Intelligence Programs Write Basic Estate Planning Documents?
With the increased coverage of artificial intelligence (AI) and all of the applications it can have in our everyday lives, some people may wonder whether an AI program can create an estate plan for them. While AI may be able to generate basic estate planning documents, including wills and trusts, there is no guarantee that […]