Estate Planning

How Do I Title Thee…Part 1

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We often consider Estate Planning documents such as a Will, Trust, Property Power of Attorney, and health care documents to be the building blocks of an Estate Plan. While a necessary and important part of Estate Planning, thinking of the documents as the starting point for an Estate Plan skips several important steps. This article is the first in a two-part series. The first part examines the various ways to hold title to assets and the second part examines the effect that title may have on an Estate Plan.

Estate Planning: No Tattoo Necessary!

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We all have wishes we want carried out when we are dead or dying. Perhaps we want to be kept alive as long as possible, no matter what.  Perhaps we want to be allowed to pass peacefully.  Perhaps we want a family heirloom to go to our son or daughter.  But, there’s one thing that’s certain, … Read more

Planning With Retirement Assets

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For many of us, our retirement fund is our largest single asset.  It could be an IRA, a 401(k), 403(b), or other qualified plan.  Retirement assets require careful consideration because unique rules apply to them. Retirement assets are favored assets in some ways, and disfavored in others.  Retirement assets are favored in that they are exempt from … Read more

Smart People Do Estate Planning

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Anyone who may die or become incapacitated (in other words all of us) needs to plan their affairs.  But, who actually does it? The American Association of Retired Persons conducted a survey of people aged fifty and over on that very topic.  It found that sixty percent had at least a will, forty-five percent had durable powers … Read more

Application of the Updated Life Expectancy Tables

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Since the creation of Individual Retirement Accounts in 1971, they have become an increasingly important part of a well-balanced Estate Plan. Taxpayers contribute to the IRA. Upon attaining a certain age, the taxpayer begins taking distributions based upon tables promulgated by the Internal Revenue Service. The Internal Revenue Service recently updated those tables which will significantly impact certain taxpayers