Tag Archives: estate planning
I’m Not Married. Do I Still Need an Estate Plan?
Approximately half of America’s population over the age of 16 is unmarried. While much of the discussion involving estate planning focuses on married couples, this topic is just as important for a single person. In fact, many times estate planning for singles and unmarried couples may be even more important than for their married… Read More »
Is Estate Planning Still Necessary With the Trump Tax Cuts?
Now that Tax Day 2018 is in the rear-view mirror for many Americans, a question many of them will have to reckon with moving forward, is estate planning still necessary with the Trump Tax Cuts? The Tax Cut and Jobs Act was signed into law by President Trump in 2017. The new tax law… Read More »
Alzheimer’s Disease 101: What You Need to Know to Be Prepared
(Updated November 2021) November is Alzheimer’s Disease Awareness Month. In 1983, then-President Ronald Reagan made November the designated month for National Alzheimer’s Disease Awareness Month. Then fewer than 2 million Americans were diagnosed with this devastating illness that then and now destroys the lives of the people diagnosed with Alzheimer’s and the families who… Read More »
Why Your Estate Planner Needs to Know If You’ve Lent Money to Family
According to data from the U.S. Census Bureau, millennials have surpass the baby boomers to officially become the largest generation in the United States. Millennials age range from 18-35 years-old and they are poised to be the engine that drives the U.S. economy in the near future. With that said, many millennials are skipping… Read More »
Debt After Death: Why You Should Think About It When Estate Planning
It may be a dirty word in some quarters, but debt is a fact of life for more and more Americans. According to a study by the Pew Charitable Trust, 8 in 10 Americans are in debt is some fashion, . . . and that debt is not limited to young people starting out… Read More »
How a Spendthrift Trust Keeps Your Heirs from Blowing their Inheritance
There are many tools that can be used when putting together your estate plan. One such tool- a trust- is a fiduciary arrangement, established by a grantor or trustmaker, which gives a third party (known as a trustee) the authority to manage assets on behalf of one or more persons (known as a beneficiaries). Since… Read More »
Better to Play It Safe: Proactive Estate Planning and Cognitive Impairment
Most financially savvy individuals begin planning their estate when they’re in peak mental shape. The idea that this might change at some point in the distant future is an unpleasant one, and they would rather go about their estate planning as if they’ll be as sharp as a tack late into their golden years…. Read More »
9 Tax Prep Questions That Will Help Organize Your Estate Plan, Too
It’s the start of a new year, which can only mean one thing: time to start your tax prep. This tax season comes with dramatic changes to the Internal Revenue Code, and this year’s April 17th IRS filing deadline is just around the corner. Soon you’ll be receiving tax forms, such as your W-2… Read More »
How New Tax Laws Will Impact Estate Planning in 2018
With 2017 now relegated to history, including Congress passing (and President Trump signing into law) the Tax Cut and Jobs Act, the question as we look ahead to 2018 now becomes: how do these new tax laws affect my estate plan? With that in mind, let’s consider a few things to watch regarding estate planning,… Read More »
4 Reasons a Comprehensive Estate Plan is NOT Just for the Wealthy
There is a common misconception that estate plans are only for the ultra-rich – the top 1 percent, 10%, 20%, or some other arbitrary determination of “enough” money. In reality, nothing could be further from the truth. People at all income and wealth levels can benefit from a comprehensive estate plan. Sadly, many have… Read More »
