You intend to pass along your hard-earned money and property through your estate plan, but what about your wisdom? Ensuring that you successfully pass all of this along may call for a family meeting to discuss your finances, your legacy, and your core principles. Most families lead busy lives, with many relatives seeing one another […]
Personal Note
Important Legacy Questions You Should Answer in Your Estate Plan
When beginning any type of planning, you usually start with some preliminary questions. Estate planning is no different. When you begin the process, your estate planning attorney will likely ask about your family members, the accounts and property you own, and whom you want to include in your estate plan. As you dive deeper into […]
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? […]
Game Plan for the Big Day: Why Estate Planning Is the Super Bowl of Financial Security
The Super Bowl is more than just a game; it’s an event that brings teams, fans, and communities together to celebrate. Just like every successful football team needs a solid game plan to win, your estate planning strategy needs a playbook to ensure your family and assets are protected, no matter what life throws your […]
Presidents’ Day & Legacy Lessons
As we celebrate Presidents’ Day, it’s a time to reflect on the legacies left behind by some of our nation’s most influential leaders. Their lives remind us that thoughtful planning plays a crucial role in shaping the future, whether it’s for a country or a family. Just as these leaders made decisions to secure their […]
Estate Planning as an Act of Love: A Thoughtful Valentine’s Day Gift
Valentine’s Day is a celebration of love—a time to express care, commitment, and the desire to nurture the bonds that enrich our lives. While flowers, chocolates, and romantic dinners are timeless tokens of affection, there’s another profound way to show your love: estate planning. Often overlooked, creating an estate plan is one of the most […]
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 […]
Estate Planning During Life Transitions: Marriage, Divorce, and Parenthood
Life is a series of significant milestones, each bringing its own set of joys and challenges. Among these milestones—marriage, divorce, and parenthood—estate planning plays a crucial role in ensuring that your assets are protected and your wishes are honored. Navigating estate planning during these life transitions can be complex, but understanding the key considerations can […]
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 […]
The Importance of Digital Assets in Modern Estate Planning
In today’s digital age, our lives extend far beyond the physical realm. From cryptocurrencies and online banking to social media accounts and digital media collections, digital assets have become integral parts of our personal and financial landscapes. As such, incorporating these assets into your estate planning is not just prudent—it’s essential. This blog explores the […]
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?
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 List
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 […]
Who Needs a Special Needs Trust?
Planning for the future of a loved one with special needs involves careful consideration and strategy, especially when managing their financial well-being without compromising their access to essential benefits. A special needs trust (SNT) is a critical tool in this planning process. This article explores who can benefit from an SNT and why it may […]
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 […]
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 […]
What I Learned from My Rock N’ Roll Neighbor
Our neighbor, C.C. DeVille, is a rock legend and was part of the famous 1980’s and 1990’s rock band, Poison. It’s not everyday that you can be walking your dogs in the neighborhood and see a rock legend and guitar virtuoso running down the street with 5lbs weights, scraggly hair, an old sweatsuit, and the […]
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 […]