A complete list of your assets is an essential starting point in making any decisions about those assets, whether financial portfolio decisions, or estate planning decisions. Without a complete list of your financial assets, a financial planner cannot know how to change your assets to achieve the proper asset allocation to meet your risk, return, and diversification objectives. Without a complete list of all of your assets, your estate planning attorney cannot advise … [Read more...] about Complete Asset List is the Starting Point
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What is a Lady Bird Deed?
As a real estate owner, it’s important to consider what will happen to your property (or properties) upon your death. With the right approach, you can ensure that it doesn’t go through probate, which saves your beneficiary both time and money. A Lady Bird deed is one of the most efficient and inexpensive ways to transfer real estate at your death, without probate. With this, you name a beneficiary to receive your home when you die. However, you retain full control over the … [Read more...] about What is a Lady Bird Deed?
Don’t Be a Turkey – Take Advantage of Your Annual Per Donee Exclusion Amount
The holidays are a great time to review the past year and make plans for the upcoming one. Part of those plans should be reviewing your Estate Plan and considering what, if any, steps you should take to help you achieve your goals. One of the easiest, but most overlooked, ways to do some quick planning is to take advantage of the annual per donee exclusion amount which can have a tremendous impact on reducing the estate without use of the applicable exclusion amount. Read on to learn more. … [Read more...] about Don’t Be a Turkey – Take Advantage of Your Annual Per Donee Exclusion Amount
Don’t fall victim to a trust mill
Offers that sound too good to be true usually are. The unscrupulous try to draw you in and then sell you services that are not appropriate for you. Unfortunately, as with almost any other product or service, there are scam artists, often called a “trust mill,” that purport to offer estate planning services at a bargain. These scam artists market estate planning services using scare tactics and bargain-basement prices. They started out selling off-the-shelf revocable living trusts. Their … [Read more...] about Don’t fall victim to a trust mill
Transfer on Death Deed: Your Questions Answered
Do you own “real” property? Are you looking for a way to avoid probate? If you answered yes to both questions, a transfer on death deed may be right for you. This simple document can help you inexpensively and efficiently avoid probate for real estate. In the most basic of terms,this kind of deed allows you to designate one or more persons as beneficiaries. This person (or people) automatically becomes the owner of the property upon your passing. Note: You can name either an … [Read more...] about Transfer on Death Deed: Your Questions Answered
Refresh and Reset: Syncing up in San Diego
The best Estate Planners stay current on the latest trends. The American Academy of Estate Planning Attorneys held its semi-annual conference providing education on selected topics designed to inspire excellence in its Members. Read on to learn more about the unique experience at the Fall Summit 2022 Conference. Read on to learn more. … [Read more...] about Refresh and Reset: Syncing up in San Diego
Honest Discussion About Funerals
Death is a certainty so have a discussion with family. When we are adolescents, we feel invulnerable to risks and think of death as an uncertain concept. In the prime of our life, we know the risks, but we still think of planning for “if I die.” When we pass life’s prime, death is not nearly as speculative as many friends and family members may have gone before us. While death is never easy to contemplate, it us much easier to make the decisions before illness and grieving are not constant … [Read more...] about Honest Discussion About Funerals
Do You Need a Revocable Living Trust?
When creating an estate plan, it’s easy to focus so much attention on a will that you overlook the benefits of a revocable living trust. Before we discuss the primary benefits of a revocable living trust, let’s examine the word “revocable.” If at any point you want to change or revoke your trust, you have the legal power to do so. You don’t need permission. Now, here are three reasons why you should at least consider a revocable trust. While these are among the top reasons to … [Read more...] about Do You Need a Revocable Living Trust?
Planning for the International Client
As the world shrinks due to increased mobility and interconnectedness, estate planning has become more complex. Now estate planning requires understanding issues that arise when a client owns assets in another country or resides in the U.S. but lacks citizen status. Things change for clients who neither reside in the U.S., nor have U.S. citizenship, but who own U.S. property. Read on to learn more. … [Read more...] about Planning for the International Client
What to Do after a Loved One Dies
The death of someone near and dear can be a stressful and confusing time. Your life is disrupted emotionally and logistically by the loss and your grief. Who will take care of everything? Who has what responsibilities? Let’s look at the different roles involved after someone’s death: Executor—The Executor or Executrix, also known as the Personal Representative, has the duty of safeguarding and collecting and managing assets which the decedent owned at death, in accordance … [Read more...] about What to Do after a Loved One Dies
