Surprising to most people, the federal estate tax is a voluntary tax. Estate planning attorneys used to say, “You only pay if you don’t plan.” Now, portability of the federal estate tax exclusion [...]
Suddenly coming into money can be both a blessing and a curse. Whether you just signed a multiyear, multimillion dollar employment contract, received a significant inheritance, expect a large [...]
Getting the news that you have to undergo major surgery is never easy. Preparing for absences from work, planning for childcare and household responsibilities, and reviewing your estate plan will [...]
No one enjoys thinking about their own funeral, but making those arrangements in advance yourself may be one of the most thoughtful acts you can do for your loved ones. More and more people are [...]
Yes! Everyone needs a will, trust, or both to ensure your legacy is passed on in the way you intend, to provide for children, spouse, and family members, and in the case of trusts, to avoid [...]
In 2008, Congress recognized the need for the public to understand the importance and benefits of estate planning by passing House Resolution 1499, which designated the third week of October as [...]
The Federal Health Insurance Portability and Accountability Act of 1996 (HIPAA) was enacted to provide guidelines to the healthcare industry for protecting patient information and privacy. For [...]
1) Myth: My spouse can make all of my healthcare and financial decisions because he/she is my spouse. Reality: This is not always the case. To make sure your spouse can indeed make important [...]
Each person accumulates a wealth of knowledge, experiences, and values throughout the course of their life. Regardless of whether you are financially wealthy, you have a great deal to share with [...]
Real estate is more than just your primary residence. It can include other real estate such as a vacation home or a rental property. Depending upon the type of real estate you own, the ideal form [...]
If you or someone you know has received an inheritance, it is important for you to understand how to manage your basis “step up.” A “step up” in basis is the adjustment of the value of an [...]
In its simplest terms, a trust is a legal arrangement in which a trustee holds and manages assets for the benefit of one or more beneficiaries. The trustee owns the assets, enters into contracts [...]
You have searched for and found the love of your life, maybe your first love, or maybe after a previous marriage. As you have built your life together, you have probably weathered your fair share [...]
If you find yourself in the “sandwich generation” (someone who is caring for both your children as well as your parents simultaneously), you need to know whether or not your parents have put [...]
You have worked hard for years, have family members and friends you care about, and have approached a time in your life when “estate planning” sounds like something you should do, but you are not [...]
Please allow us to be frank. It’s unrealistic to think that a piece of paper you draft today, reflecting your life at a certain time, will work when your life has completely changed some years [...]
In all parts of the country, services such as Airbnb have grown in popularity over the past few years. Indeed, these alternatives to hotel stays are popular among homeowners and vacationers [...]
The fall, generally late-October or early-November, is the time when employers send out summaries of employee benefits offered by the company and give employees the option to enroll in these [...]
If you think you only need to create discretionary lifetime trusts for young, troubled, or financially inexperienced beneficiaries, then think again. In this day and age of frivolous lawsuits and [...]
Everyone can vary based on differing family traditions, religions, and geographic regions. Estate planning is no different—protecting your family’s future must be customized to fit your and your [...]
Bankruptcy may be one of the last things on your mind when you are creating an estate plan. Fortunately, the number of bankruptcy filings have declined as the economy has improved, but there were [...]
Although leaving your hard-earned assets outright to your children, grandchildren, or other beneficiaries after you die may seem like the easiest and most desired form of distribution, this [...]
According to the Pew Research Center, in 2017, there were 44.4 million foreign-born people living in the United States, 55% of whom were non-citizens. As a result, there are many occasions when a [...]
Everyone needs to take steps to relax and minimize the effects of life’s everyday stresses. Here are a few suggestions to get you started. Get a physical. Busy people often wait until they get [...]
When a family member or other loved one dies, grief and shock can sometimes be overwhelming. The last thing most people want to think about is making phone calls or funeral arrangements. Some [...]
There are 3.3 million dogs housed in animal shelters each year. You can celebrate Adopt-a-Dog Month this October by adopting a homeless dog, providing it with a home, and gaining years of joy and [...]
You may have heard of a revocable living trust (RLT), which is a commonly used estate planning solution. But what exactly are they, who is affected by them, how can they be changed, and what do [...]
Congratulations! You are now considered a legal adult. Aside from purchasing alcohol, there is now very little you cannot legally do. Even though you may not feel any different, from a legal [...]
The loss of a loved one comes with many unexpected challenges. Losing a beloved relative or friend can be overwhelming, and the process of handling their affairs in the wake of such a loss only [...]
Discovering your ancestry can be both fun and fascinating. At-home DNA tests have grown in popularity in recent years. Often given as a unique gift for loved ones, the kits reveal details about [...]
No matter the time of year, it is always a good opportunity for members of the military and their loved ones to consider setting up — or revising an existing —estate plan. Military families need [...]
Your estate plan, like your home, periodically needs a thorough polishing. Your life circumstances are constantly changing, and an estate plan that perfectly met your needs a couple of years ago [...]
In 2008, Congress recognized the need for the public to understand the importance and benefits of estate planning by passing House Resolution 1499, which designated the third week of October as [...]
Although many people equate “estate planning” with having a will, there are many advantages to having a trust rather than a will as the centerpiece of your estate plan. While there are other [...]
Last Will and Testament Depending upon the state in which you live, divorce can have a varying impact on your will. In some states, a divorce revokes all provisions in your will that benefit your [...]
There are 3.3 million dogs housed in animal shelters each year. You can celebrate Adopt-a-Dog Month this October by adopting a homeless dog, providing it with a home, and gaining years of joy and [...]
Identity theft is the last thing a grieving family should have to worry about after the loss of a loved one. Unfortunately, identity thieves have increasingly targeted the identities of deceased [...]
The structure of families has changed in the United States: According to statistics cited by the Pew Research Center, six out of ten women who remarry are in blended families, and in about half [...]
Each person accumulates a wealth of knowledge, experiences, and values throughout the course of their life. Regardless of whether you are financially wealthy, you have a great deal to share with [...]
In 2008, Congress recognized the need for the public to understand the importance and benefits of estate planning by passing House Resolution 1499, which designated the third week of October as [...]
When a family member or other loved one dies, grief and shock can sometimes be overwhelming. The last thing most people want to think about is making phone calls or funeral arrangements. Some [...]
A California daughter and granddaughter’s fear of losing their home to Medi-Cal may have contributed to a severe case of elder abuse. If the pair had consulted with an elder law attorney, [...]
Estate planning can be a very difficult process. While it’s not brain surgery, making the decision to move forward with the planning requires us to face the fact that we will not live forever. [...]
Why would anyone want to refuse an inheritance? Although it is surprising to many, there are several circumstances when declining an inheritance can be beneficial. The law does permit you to [...]
Many people believe that once they set up a Revocable Living Trust and transfer assets into the trust, those assets are protected from lawsuits. This is absolutely not true. While Trusts [...]
No one enjoys thinking about their own funeral, but making those arrangements in advance yourself may be one of the most thoughtful acts you can do for your loved ones. More and more people are [...]
For most people, the phrase “power of attorney” means very little. Even for those educated on the subject, it is easy to forget exactly who serves what role and why. Whether you are unfamiliar [...]
You may have been running around for weeks, getting your new college student off to school. It’s exhilarating, and your heart likely is bursting at the seams. You’re probably prouder [...]
They Should Designate Someone to Make Medical and Financial Decisions Authored by: Jeffrey Hall, MBA, CPA, Esq. Here’s an issue many families overlook when children leave for college: That [...]
Although leaving your hard-earned assets outright to your children, grandchildren, or other beneficiaries after you die may seem like the easiest and most desired form of distribution, this [...]
