Proper estate planning is essential for managing finances and ensuring that a person’s assets and final wishes are handled correctly upon passing. While often associated with older generations, estate planning for Millennials is important. Learn about the benefits of estate planning and find out why it is not just for the wealthy or older adults. If you would like to…
Estate planning is about taking care of loved ones after you have passed away or become incapacitated. It involves planning to distribute assets and liabilities in a way that decreases the likelihood of paying excessive taxes and still accomplishes giving and long-term legacy goals. State laws and tax regulations can be complicated, and having an estate planning lawyer help develop…
Life is unpredictable. Effective estate planning helps individuals put their affairs in order and assists them in achieving peace of mind. An estate plan allows an individual to designate a person they trust to carry out their final wishes and oversee the distribution of their assets to the beneficiaries of their choice. Many falsely believe that estate planning is for…
When it comes to estate planning, attorneys are increasingly working with “solo silvers” from what is known as the “silver tsunami.” A silver tsunami is the term created by demographers and economists to explain the dramatic age shift in the human population from the Baby Boomer generation hitting the retirement age. Some 80 million individuals will enjoy their 65th birthdays…
When someone close to you begins to display memory loss it can be for any number of reasons. At first it may just seem like typical forgetfulness but at some point you may not be able to continue to accept that excuse. The biggest fear you may have when it comes to an older individual is that it might be…
The subject of estate planning tends to bring on the desire to take a long nap if you’re under a certain age. It’s typically a subject for those who have been around the block a time or two, but with coronavirus invading our daily lives, understanding estate planning basics is something we should all become comfortable with. Everyone should have…
Probate is the process by which courts oversee the distribution of a decedent’s (the person who passed away’s) estate. The individual responsible for administering the will (the executor) is required to go through probate in order to collect the decedent’s assets and property, distribute them to heirs and beneficiaries according to a will, and pay any remaining debts and taxes.…
An executor is the person someone appoints in their will to handle their estate when the person has passed on. When choosing an executor, it’s important to pick someone you can trust to handle the financial parts of the estate and who can also manage any conflicts that may arise. Many people choose their spouse to be their executor. Alternatively,…
Did you finalize a divorce in 2018? If you did, you beat the clock when looking at the new tax laws that went into effect January 1, 2019. The new tax laws will have a big impact on how some areas of divorce are handled, including alimony. You can read our assessment of the plan here. There are other areas…
One of the most important topics in the estate planning world is that of guardianship. Guardianship is important on two levels: it protects your children should you die before they reach the legal age of adulthood, and it ensures that your children are brought up and cared for by the person of your choosing. Some people may appoint the Executor…