When it comes to estate planning, many people focus on creating a will or trust to ensure their assets are properly distributed after their death. However, creating a power of attorney is just as important. A power of attorney is a legal document that allows you to designate someone to make decisions on your behalf … Read more
People often believe that Estate Planning is a “simple” process designed only for those whose estates will exceed the Applicable Exclusion Amount of $12.92 million in 2023. That myopic view causes many who should undertake Estate Planning to skip it altogether or to look for ways to complete the planning on their own without the services of a qualified Estate Planning attorney. As the last article in this two-part series demonstrated, numerous taxes impact Estate Planning. This second part of this series continues by exploring the various non-tax reasons to create a comprehensive Estate Plan.
Everyone should consider estate planning, regardless of their financial situation or age. Having a plan for your estate ensures that your wishes are fulfilled after you pass away, and it can bring peace of mind to you and your loved ones. However, diving into the world of estate planning can be daunting due to the … Read more
A health care power of attorney (HCPOA) and a living will are both essential components of a comprehensive estate plan, designed to address medical decision-making in the event of incapacity. Although they share similarities, these legal documents serve distinct purposes and provide different levels of control to the principal (the person creating the document). This … Read more
Few figures in the music industry have left as indelible a mark as the iconic Tina Turner. Known for her electrifying performances and ground-breaking music, Turner passed away leaving a lasting legacy. While her estate details are mainly private, there are some key points that all can learn from regarding estate planning. Celebrity Estates and Privacy … Read more
Grandparents play a unique and important role in their grandchildren’s lives. However, some grandparents find themselves in the position of raising their grandchildren as primary caregivers. This is becoming increasingly common, with approximately 5.4% of children under age 18 living with a grandparent, and over 1 million households with children being headed by a grandparent … Read more
As a parent, you want to ensure that your children are always taken care of, even after you’re gone. When you have children in college, it’s important to consider estate planning to ensure that your assets and finances are properly allocated to your loved ones. If you have college-aged children, contact us online or via … Read more
Estate planning is crucial for everyone, regardless of marital status. However, unmarried couples face unique challenges when it comes to estate planning. Without the legal protections afforded to married couples, unmarried couples must take extra steps to ensure that their assets and wishes are protected. If you’re part of an unmarried couple, contact us online … Read more
Three banks have collapsed in one week sending shockwaves through the banking industry. Many may wonder if their deposits are safe. Thankfully, the Federal Deposit Insurance Company insures deposits up to a certain amount and there are ways for individuals with deposits exceeding those amounts to gain coverage as well.
Instead of thinking about chocolates or flowers this Valentine’s Day, let’s focus on a practical way to demonstrate our love by creating an Estate Plan. If you don’t yet have an estate plan, now’s a great time to make an appointment with an Estate Planning attorney to talk about your particular situation, along with your goals and any long-term concerns that you may have. If you already have an Estate Plan, demonstrate your love by ensuring that the plan accomplishes your objectives. If the plan needs updating, make an appointment with a qualified Trusts and Estates practitioner to review the documents and make recommendations for you.