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 assets – such as life insurance, retirement funds, and annuities – should also be considered
Listen to the Audio Version If you’re not familiar with Marie Kondo, take some time this week to watch one of her videos on YouTube or check out her new Netflix series, Tidying Up with Marie Kondo. It’s incredible to watch the relief and joy that people experience just by implementing her simple strategies to
Although Memorial Day just passed, it is important to honor those that have served our country. This time is also a good opportunity for members of the military and their loved ones to consider setting up an – or revising an existing – estate plan. Military families need to consider special estate-planning issues that others
Estate planning is often one item that gets pushed back on nearly everyone’s to-do list. That’s especially the case when you are so focused on loving and caring for your new bundle of joy. The other reasons you might be delaying vary: lack of time, not thinking you have enough assets, not knowing how to
When planning their estates, most people focus on major assets, such as business interests, real estate, investments and retirement plans. But it’s also important to “sweat the small stuff” — tangible personal property. Examples include automobiles, jewelry, clothing, antiques, furniture, artwork, photographs, music collections, personal papers, collectibles (such as stamps, coins or baseball cards) and
When planning their estates, most people focus on major assets, such as business interests, real estate, investments and retirement plans. But it’s also important to “sweat the small stuff” — tangible personal property. Examples include automobiles, jewelry, clothing, antiques, furniture, artwork, photographs, music collections, personal papers, collectibles (such as stamps, coins or baseball cards) and
A scary health diagnosis can be emotionally and logistically challenging for many reasons. For instance, how can you take care of your family if you’re physically incapacitated? In addition to working closely with your medical providers, consider these three legal tips: Check your estate plan with your attorney to make sure it is up
Research tells us that the majority of Americans today still do not have estate planning in place and only a third of parents have properly named legal guardians for their minor children. That’s problematic because life happens to all of us and gives none of us a heads up. But our message this week is not about
When was the last time you reviewed your estate plan? Do you know if it will work when you need it to and be a treat for your loved ones to manage? Or is there a nasty trick lying in wait? Get our Estate Plan Checklist to give your plan a quick audit. It’s no
When was the last time you and your spouse discussed your estate planning? We know it is probably not on your list of “date night” conversations. In fact, many of our friends, family, and even professionals we work with tell us that once they create their estate plan, they consider it finalized and do not
If you have the responsibility of a loved one with autism, the fate of this person’s future is in your hands. Planning for this person’s future is not a task to take lightly, or to begin without careful planning. Although the specific needs of an autistic individual can vary greatly depending on the severity of
If your clients are having a child, adopting, or marrying a spouse with children, you may already be meeting with them to discuss the family’s finances—everything from managing current costs to providing for the children’s future. But in those discussions, give them a huge gift: Let them know an estate plan is essential for any
Recently we have been encountering a number of adult children who are are having difficulty administering their parents’ estates after they pass away. One problem area has been with property tax reassessments. While a property tax reassessment can be avoided when a child inherits a parent’s’ home under California law, this parent-child exemption is not automatic! Instead, a Claim
The inauguration of President Donald Trump has come and gone and a new administration begins. But what does it mean for you in regards to your estate plan and protecting what matters most? A frequent topic of conversation throughout the election was tax reform, specifically the repeal of the estate tax and how income and
Everyone loves giving gifts at the holidays and the exchange of joy it brings. But have you considered how gifting to your loved ones can be part of your estate plan and the legacy you leave? Gifting strategies are for everyone, not just for the wealthy. If you have amassed any kind of assets in