Estate Planning

Being able to talk with your family about your estate plan is not easy, since the underlying subtext—your own eventual death—is difficult for parents and adult children. However, by having these frank discussions, you eliminate stress and often, promote a greater family bond. People’s skills in saving for retirement, investing and managing finances are important…

Everyone needs an estate plan, regardless of your level of net worth. Think of your estate plan like a car: it needs ongoing service to keep running smoothly One of the key functions of an estate plan is to distribute assets after you die. If you don’t have an estate plan, the state has one…

Taking a look at the data surrounding farms and the estate tax reveals a different picture than what is being presented. During a visit to North Dakota, President Trump said he would eliminate the federal estate tax, saying it is a huge burden on small businesses and family farmers in that state and across the…

The potential for avoiding the process and costs of probate makes some people feel like living trusts are the answer to their estate planning problems. However, there are certain limitations and costs associated with trusts, which need to be considered before making a decision. “Living trust” seminars have a single focus: that using this type…

It’s heartbreaking, but it does happen: both parents die unexpectedly, and there’s no will, and no one has been named a guardian. Who decides who will raise your children? Being a good parent means being responsible for the well-being of every member of the family. That includes planning for catastrophe. In a best case scenario,…

An estate plan is much more than a will to distribute your worldly goods. An estate plan plans for incapacity, including conveying your end-of-life care wishes and tells others how you want to be cared for when you cannot speak for yourself. There are a number of documents that need to be completed in an…

In markets where a home’s value is near or above a million dollars, estate planning decisions about the family home become complicated. Do you downsize and sell now, put your home in a trust or age in place and let the kids deal with it after you’re gone? A recent study from AARP’s Public Policy…

You may never know the impact of a DIY will, but your heirs certainly will. This is an instance where having a professional involved makes a world of difference. We’re used to doing everything online ourselves, from making movies to creating photo books and shopping for car loans. But there are some things, including estate…

A man who required 24/7 care, became the center of a battle between family members that resulted in a court deciding that a testator is not required to physically destroy a will in order to revoke it. The case of a daughter and sister of decedent Edison Milbourne, Milbourne v. Milbourne, over whether or not…

Can the beneficiaries of a trust remove a corporate trustee? This was the issue in a recent decision from a Pennsylvania Supreme Court case. In “Trust Under Agreement Of Edward Winslow Taylor Appeal Of: Wells Fargo Bank,” the beneficiaries of an irrevocable trust were told they did not have permission to remove a trustee through…