In the 1997 book, “the Millionaire Next Door” the authors examined the typical millionaire in the United States. Surprisingly, they had lives that were rather commonplace. The typical millionaire had the following characteristics: The authors also have a simple rule of thumb for how wealthy you should be: Multiply your age in years by your … Read more
You and your spouse live your lives as one. You’ve been together for years. It seems the simple solution is to just leave everything to each other upon your deaths. Unfortunately, in this situation, the simplest solution may not be the best. First, if you leave everything to your spouse, they will be estate taxed … Read more
Interest rates were at historic lows for many years. Those rates have begun to rise in recent months and may continue to do so. Practitioners need to monitor interest rates in order to advise clients regarding the most effective Estate Planning strategies in any environment.
Estate Planning is organizing your life to achieve your goals, both now and after you are gone. This includes: It has often been said that he who fails to plan, plans to fail. It is true in Estate Planning as in any other endeavor. Without planning, you will leave those you love with a mess … Read more
Estate planning mistakes are not uncommon – especially if you are considering everything that’s involved in the process. You create an estate plan with the best intentions, but that doesn’t mean you’ll always find yourself on the right track. It’s easy to make mistakes along the way, and if you do it can harm both … Read more
As part of the Estate Planning process, an attorney explores numerous topics with the client to help create a unique plan tailored to the client’s circumstances. Many estate plans use a trust as the centerpiece of the plan. Some clients want to explore asset protection and let the attorney know they want to consider offshore planning. Sometimes, offshore planning works, but often it causes additional issues.
Life is an interesting ride with many surprises. Who would have expected it to turn out the way it has? Forty years ago, as we walked to our local library, who would have thought that we could have more information available at our fingertips online than would fit in any library? Who would have guessed … Read more
“Why you need an estate plan?” This is a common question that we get asked a lot. Below, we talk about everything you need to know about why you need an estate plan. It’s easy to continually put estate planning on the back burner. That’s especially true if you’re young and healthy. While you may … Read more
As part of the Estate Planning process, an attorney explores numerous topics with the client to help create a unique plan tailored to the client’s circumstances. Many estate plans use a trust as the centerpiece of the plan. Inevitably, clients want to understand the degree, if any, of asset protection that will result from the creation of a trust. There are numerous ways to achieve asset protection planning for a client.
Many people ask themselves “is estate planning for me?” and think that estate planning is just for other people. Here are some common estate planning misconceptions: Estate planning is just for older people. While the elderly need to do estate planning, so do those who are younger. Unfortunately, death and disability can strike at any age. Estate planning … Read more