Death and Tragedy
423 Words. The article looks at the tragedy of family disputes and how to avoid them.
A Plan by Design or by Telephone?
372 Words. The article looks at the game of "Telephone" and how transmitting your legacy in this manner is likely to result in error.
The Passing of a Loved One
The article examines the seven elements which may be included in an estate plan: Health Care Power of Attorney, HIPAA Power, General Durable Power of Attorney, Revocable Living Trust, Pour Over Will, Funeral Trust, and Legacy Plan.
Legacy Planning: A Holistic Approach
This article looks at the latest developments in estate planning: "Legacy Planning." Legacy Planning focuses on the values and guidance to be relayed to future generations, not just wealth. The article discusses The Family Wealth Trust and its two subtrusts, the Family Access Trust and the Family Sentry Trust and how they can protect the beneficiaries from divorce and creditors.
What's Important in Your Life?
This article looks at what's important in life: family, friends, and values. The article looks at tragedies in our lives and how we always come back to what's important in life. The article then transitions to a discussion of Legacy Planning. The article discusses the Family Wealth Trust, the Family Access Trust, and how they may be used as part of Legacy Planning to protect the children after you are gone.
What's the Worst That Can Happen?
We often think that estate planning only deals with our assets at our death. This article debunks that myth and shows how a lack of planning can have negative consequences even during your life and not just on your assets.
What’s Probate and Should I Care?
The article examines what probate is and why it is best avoided, and how. The article also examines the holistic concept of "legacy planning."
Planning for Unforeseen Circumstances
The article examines the importance of drafting flexibility into your estate plan to adjust for changes in values, circumstances, and interests.
Do You Know Who Your Beneficiaries Are?
The article looks at several types of items that pass outside a Will or Trust. In particular, it examines retirement beneficiary designations and new rules by Vanguard Group which might have disastrous results for the unaware.
Protect Your Children Now and in the Future
The article examines how you can use a Family Access Trust or a Family Sentry Trust to protect the inheritance you will leave to your children.
Putting Your Legal Life Back Together After Divorce
Divorce is common today. This article examines how to put your legal affairs back in order after a divorce.
Three Myths Women Have About Estate Planning
This article looks at several myths women have about estate planning. It includes some statistics that show why estate planning has more impact on women.
Decisions, Decisions, Decisions...
This article looks at the factors people consider when making estate planning decisions.
Strategies for Business Succession Planning
The article looks at methods for business succession, including using life insurance to provide liquidity and family limited partnerships for discounting.
What are the Odds
This article examines the need to plan for the unexpected. It gives statistics for the odds of disability and of death from various likely and unlikely causes. It shows the importance to plan for the one certainty in life, i.e., death.
Gifting to Children
This article examines gifting strategies for transfers in trust to minors. Specifically, it looks at Crummey trusts and 2503(c) trusts and the advantages and disadvantages of each.
Protecting Your Children from Their Nightmares…and Yours
The article examines statistics regarding divorce in America and how to protect your children from divorce. It examines setting up a divorce protection trust for them as well as using a marital trust for second marriages for your own assets.
Waiting to Roth: Hidden Loophole for High-income Earners
The article explains a few different types of retirement plans and then looks at a loophole for high-income earners to make contributions to a non-deductible IRA now and then convert it to a Roth IRA in 2010, when income limits for such conversion are lifted.
Learn from Anna Nicole's Mistakes
The article examines Anna Nicole's Will and that she did not update it upon major changes in her life: death of a son, birth of a daughter, commitment ceremony to Howard K. Stern. It suggests that the reader learn from these mistakes and be sure to update their plan periodically.
The Choice Is Yours: Don't Lose Your Chance to Make It
The article examines two cases: Terri Schiavo and Sarah Scantlin. Neither expressed their end of life decisions. Terri had her feeding tube removed after 15 years. Sarah awoke from her coma after 20 years. The article calls the reader to express their own desires in a Living Will.
Your 401k or IRA: A Problem Asset?
The article looks at IRAs and 401ks and how we need to save for retirement. Then it looks at the tax problems these plans create. It examines the stretch out available with the FRPT. It also examines using distributions to fund life insurance.
What Happens in My Initial Estate Planning Consultation?
This article describes what happens in the initial estate planning consultation, including the questions asked, the discussion of goals, etc. The article also references a CNNfn segment that talked about the importance of stringent continuing education requirements, like those of the American Academy of Estate Planning Attorneys.
Is a Power of Appointment the Same as a Power of Attorney?
The article examines a few legal terms that can be confused, like Power of Attorney, Attorney in Fact, and Power of Appointment. The article examines the terms and specifically, how Powers of Appointment can add flexibility to a plan.
How to Leave a Mess to Your Heirs
This article examines several common mistakes that create a mess for heirs: Lifetime Transactions without counsel (such as adding people on title to realty), Failure to Plan, and Failure to Communicate. The article poses the problem and then offers a solution to each.
Estate Planning is Simple....Right?
This article examines clients' preconception that estate planning is simple and that it's just simple word processing. The article examines situations in which the estate planner's experience and technical knowledge comes into play.
Your Most Important Choice
The article discusses the importance of selecting appropriate agents and guardians. It specifically examines the different roles and focuses on guardians. It looks at a case in which the guardian nominated was not chosen by the court.
To Roth or Not to Roth, That is the Question
The article examines the Roth IRA and recent developments that have expanded the concept, such as the Roth 401(k) and the ability to convert from a regular IRA in 2010.
Anna Nicole Smith Can Teach Us a Few Things
The article examines the life of Anna Nicole Smith, her marriage, and the will dispute controversy. It encourages readers to be open about their wishes to family members and instructs on the use of a no contest clause.
New Flexibilities for Partners, Children, and Others
The article examines the new "non-spousal rollover" provisions of th Pension Protection Act of 2006.
Do it the Right Way
This article examines the life of tobacco heiress Doris Duke and a couple mistakes she made in planning her estate.
A New Way to Give
This article examines new opportunities for charitable giving directly from an IRA.
Keep Your Cake - And Eat It, Too!
This article examines the Medicaid Income Only Trust. It gives an example of two women who are roomates in a facility: One who contributed to a trust and one who did not.
Do You Want Your Spouse to Lose Your Biggest Asset?
The article examines how beneficiary designations must be coordinated in order to have an effective estate plan. It looks at the story of a woman who forgot to change her beneficiary designations. As a result her husband of 20 years did not get her retirement plan proceeds.
Celebrity Estate Planning
The article examines interesting provisions of the wills of many famous people. It explains how this information is public and that if you use a trust you can keep your affairs private.
Smart People Do Estate Planning
The article examines the statistics of who does estate planning. It shows that people who are more educated are more likely to do estate planning. It recites reasons that you want to plan. Basically, the article is a call to action to the reader to take control of his or her life by planning.
Planning With Retirement Assets
The article looks at retirement planning and looks at a few strategies such as ROTH conversion, paying the tax, giving to charity, etc.
Estate Planning: No Tattoo Necessary!
The article looks at how to make sure your final wishes are accomplished. It looks at the case of a woman who tatooed "do not resuscitate" across her chest. It deals primarily with health care powers / living wills, but also touches on trusts.
My Attorney Does Not Practice Law Anymore: Now What?
The article instructs the reader what to do when their attorney does not practice anymore. It suggests finding a new attorney right away. It stresses finding someone with whom they feel comfortable and who gets lots of Continuing Legal Education.
Preserving the Ranch for the Next Generation
The article examines a typical ranch family, the problems they face, and solutions. It touches on problems of joint tenancy, incapacity, and succession. It offers an RLT, a second to die ILIT, and a buy-sell as solutions.
1st Anniversary of Terri Schiavo's Death
March 31, 2006 marks the one year anniversary of Terri Schiavo’s death. More than any other story, Ms. Schiavo’s situation brought the need for living wills and other advance directives to the forefront of everyone’s attention. In the past year, an unprecedented number of people have explored their personal health care desires and made plans for their end-of-life wishes.
Dealing with Aging Parents
The article examines how the parents took care of the kids and how the kids then take care of the parents. It looks at the need to plan in advance for wealthy parents (estate tax reduction), not so wealthy parents (Medicaid planning), and any parents (powers of attorney, etc.).
How Do Millionaires Do It?
The article examines the five different types of millionaires and what makes them tick. It asserts that planning is at the core for all of them and that estate planning is necessary to avoid problems down the road.
Could Deficit Reduction Take Your Life Savings?
This article discusses how long-term care costs can be a major financial drain. It looks at how the changes in Medicaid law could make it much more difficult to plan. It stresses the need for pre-planning. It briefly looks at Income Only trusts as a potential planning option.
Medicaid Changes Make Pre-Planning Essential
This article discusses how long-term care costs can be a major financial drain. It examines Medicaid as a possible way to pay for long-term care. It looks at how the changes in Medicaid law could make it much more difficult to plan. It stresses the need for pre-planning.
Preparing for Health Needs
The article looks at the financial and legal ways to plan for illness. As part of the financial portion, the article examines the use of Health Savings Accounts. As part of the legal portion, it examines the use of health care powers of attorney and health care directives.
Privacy in Life and Death
The article examines many ways in which privacy can be obtained including: using donor advised funds to keep the name of the charity private, RLT to keep things private at death, and the do not call registry and decedent do not contact registry to avoid nuisance calls.
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.
Planning: Just Do It!
This article looks at what happens if no planning is done. It looks at the problems of probate if no trust is done and of intestacy if no will is done.
Protecting Your Assets
This provides an overview of asset protection strategies.
As Time Draws Near
This provides an overview of planning strategies when someone is approaching death.
10 Tips in Planning for Taxes
The article examines several strategies for minimizing income taxation, through timing of expenses and income, etc. It includes items to consider at year-end.
Preserve Your Wealth with Medicare Part D
The article provides a basic overview of Medicare Part D and why it is important from an estate planning perspective.
When Disaster Strikes
This article examines how tragedies can strike in any of our lives but how planning can lessen the impact. Estate planning can let you rest easier and make sure others have the legal right to help you when you need it.
Want a Nude Funeral? Have it Your Way
he article tells the story of a Midwestern nudist who wanted to be buried in the nude but was not. It examines what people can do to ensure their burial wishes are carried out.
Is Estate Planning for Me?
This article examines various reasons people think estate planning is not for them, such as they aren't married or don't have money. It explains why they need estate planning.
Estate Planning is Life Planning
It seems like there is always some discussion in Congress about changing the estate tax. There even have been proposals to eliminate the tax permanently. If Congress ever eliminates the tax, does this mean that there will no longer be a need for estate planning? No, it does not.
Should I Leave Everything to My Spouse?
The article examines the tension between leaving assets outright to a spouse and leaving them in trust. It discusses creditor and divorce protection. The article also discusses allowing the surviving spouse to appoint the assets in the trust.
What to Do after a Loved One Dies
Clients often have uncertainty regarding the process after death. The article looks at the typical roles, such as trustee and executor, and explains their duties. The article directs the reader to contact an estate planning / administration attorney. The article mentions a couple post-mortem steps such as gathering assets and cautions against retitling assets or making distributions until talking with the attorney.
Preserving Harmony with Blended Families
Second marriages and blended families raise unique concerns. The article examines marital trusts and unitrusts as a way to take care of both spouse and children and preserve family harmony.
Top 10 Reasons for Periodic Estate Planning Review
Some people think that estate planning is a once in a lifetime project. But, as John F. Kennedy said, “change is the law of life.” Periodic review of an estate plan is essential to ensure that your plan continues to accomplish your goals in the most effective manner.
Living Trusts: Calculating the Benefits
Living Trusts have quickly become the most popular estate planning tool, allowing families to avoid probate and other legal quagmires, lower taxes and protect privacy.
