Tag Archives: estate planning
LGBTQ+ Estate Planning to Protect Yourself and Your Loved Ones
Estate planning is for everyone. Regardless of your wealth, age, marital status, gender identity, or sexual orientation, it is crucial to have a plan in place to protect your money, property, and loved ones in the event of an accident, illness, or death. For LGBTQ+ Americans, estate planning can be even more important. Despite… Read More »
An Estate Plan Should Not Be a Set-It-and-Forget-It Endeavor
As we all know, life happens. There is really nothing we can do about it. However, some of the most common life events can have a dramatic effect on your estate plan. If you think your estate plan is like a slow cooker and you can set it and forget it, you and your… Read More »
A Senior’s Guide to Estate Planning
Most older adults acknowledge that estate planning is essential. Yet, nearly half of Americans age 55 or more do not have a will, and even fewer have all the elements of an estate plan, including designated powers of attorney, a living will, or health care directives. These documents help guide your representatives to provide… Read More »
Does a Domestic Partner Have the Same Rights as a Spouse When It Comes to Estate Planning?
The short answer to whether couples in a domestic partnership have the same rights as married couples when it comes to estate planning is … probably not. To a large extent, the state in which you live, and maybe even the city or county, determines domestic partners’ rights. What Is a Domestic Partnership? Everyone… Read More »
Electronic Wills: What are they, and should I use one?
What Are Electronic Wills? It was not very long ago that all legal documents were printed on paper and signed with a pen. But in today’s world, where we sign commercial contracts, form and run businesses, and buy everything from groceries to cars online, it seems almost prehistoric for state laws to require that… Read More »
Using Beneficiary/Transfer-on-Death Deeds
What Is a Transfer on Death Deed? If you own real property, such as a home, in your sole name but you have not created a trust and transferred your property’s title to the trust, it is virtually guaranteed that your beneficiaries (or heirs) will have to deal with probate after your death. If… Read More »
Changes to the FAFSA Form (and What It Means for Grandparent-Funded 529s)
For grandparents who want to leave a legacy to their grandchildren, the gift of a 529 college savings plan is an option. Not only can opening a 529 plan account help a grandchild with educational expenses, it can also help grandparents with their estate planning goals. In the past, grandparent 529 plans had the… Read More »
Pour-Over Will: Not Your Average Will
Wills and trusts are the two basic legal instruments that people use to pass accounts and property on to their loved ones at death. Although a revocable living trust is often used in place of a will, the two are not mutually exclusive. You can have both a will and a trust, and in… Read More »
Build Back Better Act and Estate Planning Changes
Build Back Better Act and Estate Planning Changes President Biden’s Build Back Better Act (BBBA) has made a significant first step towards passage as the House Ways and Means Committee approves the bill’s tax provisions. As the draft now stands, the legislative proposal may restrict the ability of higher net worth individuals to shelter… Read More »
5 Costly Estate Plan Mistakes to Avoid
You spend the first half of your adult life trying to achieve financial security and the second half of your life trying to maintain it. This adage is why many people spend substantial time and effort maximizing their legacy goals in their estate plan, ensuring their wishes come to pass. Your life’s work and… Read More »
