Estate Planning

While estate planning has many different documents it comes down to two categories. One of the best ways to begin estate planning is to break the process down into two categories, according to the Motley Fool in “The Estate-Planning Documents Everyone Needs.” There are all sorts of different legal documents in estate planning that are…

There are many opinions on the use of wills and trusts but each has strengths and weaknesses. When you are getting advice on wills and trusts it is best to decide which option is best for you but in order to do that you need to know the differences, according to the Motley Fool in…

Bypass trusts are not as popular as they were at one time but can still work under certain circumstances. The “bypass” trust has gone out of favor as a result of federal estate law changes but can still work for you, according to the Poughkeepsie Journal in “Bypass trust works better for many families.” Basically,…

There are many kinds of estate plans but a few things should be included in every one’s estate planning portfolio. The Catholic Register recently discussed what is necessary in every estate plan in “The must-haves of estate planning.” The article is focused on Canada but it wouldn’t be a bad idea to include them in…

How is July so suddenly upon us? It’s astonishing how time flies. Hopefully, you are enjoying the summer, and taking advantage of all its leisurely pursuits. For many families, summer marks the time for transition as the children prepare to begin (or continue) their college education. This usually coincides with the children reaching the age of…

Our office typically sees a flurry of activity in January. Apparently, estate planning keeps good company with diet and exercise when it comes to New Year’s resolutions. Here are some tips for creating and updating your estate plan in 2016: Review and update your estate planning documents. Have there been changes in your family or…

How property is titled plays a significant role in estate planning. In this article we’ll take a 5,000 foot view of the ways in which we hold title to our property, and the effect such title has during periods of disability or at death. First, when we speak of title, we speak of legal ownership…

In our last post, we discussed the importance of trust funding, and how a properly funded trust can avoid probate and allow for the safe handling of your assets in the event of a mental disability. We will now take a look at funding specific assets, starting with bank accounts. Bank accounts can be one…

In Part I of this Estate Planning for Portability series we were introduced to the concepts of the Unlimited Marital Deduction and the Federal Estate Tax Exemption amount (which we refer to as a coupon). We also introduced the couple Bob and Sara and their children Jake and Desiree. Through Bob and Sara we showed…

In Part I of this Estate Planning with Portability series we were introduced to the concepts of the Unlimited Marital Deduction and the Federal Estate Tax Exemption amount (which we refer to as a coupon). We also introduced the couple Bob and Sara and their children Jake and Desiree. Through Bob and Sara we showed…