When a person with a trust passes on, the trust administration process follows closely behind. When compared to probate, trust administration is less stressful and less time consuming. Not to mention the fact that it lessens the likelihood of a disagreement between family members. Adding to the above, trust administration does not take place in a courtroom setting. The only time a judge gets involved is if there is an issue with the trust, such as a family member arguing that it’s not … [Read more...] about What Does Trust Administration Mean?
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The Role of the Estate Planning Attorney
Clients often come to an Estate Planning attorney with specific ideas in their minds. The attorney’s role is to counsel them regarding their plan, not just to draw up documents to accomplish it. Read on to learn more. … [Read more...] about The Role of the Estate Planning Attorney
Use It Before It’s Gone
The amount you can pass free from estate tax is at a record high of $11.7 million per person. There’s legislation which would lower the exclusion to $3.5 million per person. Married people can take advantage of the current exemption. Read on to learn more. … [Read more...] about Use It Before It’s Gone
CRT: Best Tool for Proposed Tax Changes?
Tax proposals would increase capital gains rates, among other things. These proposed changes could make a Charitable Remainder Trust look even better. A Charitable Remainder Trust can earn the donor an income tax deduction upfront and defer gains on its sale of assets. Read on to learn more. … [Read more...] about CRT: Best Tool for Proposed Tax Changes?
Tax Proposals Could Alter Estate Planning Landscape
Senators Sanders and Whitehouse have introduced legislation in the Senate which would significantly alter the Estate Planning landscape. It would dramatically change the tools we use to plan for our clients. Time is of the essence. Read on to learn more. … [Read more...] about Tax Proposals Could Alter Estate Planning Landscape
Updating Your Plan: Beneficiary Designations
As a new year begins, it’s a good time to think about updating your estate plan. This includes your entire plan, including beneficiary designations. Beneficiary designations may control a large part of your assets and it’s important to be sure your plan is coordinated to consider these. Read on to learn more. … [Read more...] about Updating Your Plan: Beneficiary Designations
Updating Your Plan: Your Trust or Will
Regularly reviewing your estate plan to ensure it's accuracy is important. This includes your entire plan, including your primary vehicle, such as a trust or will. Read on to learn more. … [Read more...] about Updating Your Plan: Your Trust or Will
Updating Your Plan: Powers of Attorney
Powers of Attorney are part of even the simplest estate plan. A Power of Attorney allows your Agent to act for you. There are Powers of Attorney for financial matters and also those for health care. While reviewing your estate plan, it’s important to consider if you need to update either of these powers. Read on to learn more. … [Read more...] about Updating Your Plan: Powers of Attorney
Take Care of Yourself When Caring for Another
As a caregiver, you take great pride in helping a loved one. And while you’re happy to do so, there’s no denying the stress it can put on your life. In addition to your own schedule, which often includes work and caring for your immediate family, you have many responsibilities as a caretaker. Rather than run yourself ragged, it’s important to take a step back and care for yourself too. There are many places you can turn for relief such as: Other family members and friends Long-term … [Read more...] about Take Care of Yourself When Caring for Another
How Will You Pay for Long-Term Care?
It’s your hope that you never have to pay for long-term care, but it’s critical that you have a plan in place for doing so. This way, if the time does come, it’s one less thing for you to worry about. You’ll know exactly what you need to do. There are several ways to pay for long-term care, with these options among the most common: Medicaid: If you qualify for Medicaid, it’s typically the best way to pay for long-term care. Remember, Medicare doesn’t pay for long-term care. It’s only … [Read more...] about How Will You Pay for Long-Term Care?
