Clients often want the simplest estate planning solution possible. However, the simplest solution is doing nothing. Usually, doing nothing does not result in the desired outcome.Estate Planning: The Simplest Plan is Usually Not the Best … [Read more...]
Estate Planning: Simple is not Always Better
Clients often want the simplest estate planning solution possible. While keeping it simple is an understandable goal, the simplest solutions are not often the best. This article shows a couple simple solutions for estate planning and why, in most circumstances, a living trust is at the center of a more robust estate plan and more likely to provide the desired protections.Estate Planning: Simple is not Always Better … [Read more...]
Retirement is Complicated
Many factors go into retirement decisions. This article examines many of those factors, such as where to retire, access to healthcare, income taxation, estate taxation, property taxation, etc. This article includes many links to helpful lists.Retirement is Complicated … [Read more...]
Basics of Estate Planning: Powers of Appointment – Part 2
Trusts can be very flexible instruments. One of the ways to add flexibility is by using powers of appointment. This article will examine the different types of powers of appointment and how that can impact taxation.Basics of Estate Planning: Powers of Appointment – Part 2 … [Read more...]
Basics of Estate Planning: Powers of Appointment – Part 1
Trusts can be very flexible. One of the ways to add flexibility is by using powers of appointment. This article will examine what a power of appointment is and how it may be used to add flexibility to a trust. An upcoming article will examine the tax consequences of powers of appointment.Basics of Estate Planning: Powers of Appointment – Part 1 … [Read more...]
Basics of Estate Planning: Advising Clients on Selecting Fiduciaries
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education,American Academy of Estate Planning Attorneys, Inc.This is another in a series of blogs on the basics of estate planning.Often, one of the most difficult choices for a client to make is the selection of people to make decisions for them. These fiduciaries may have great control over the client’s affairs, typically at times when the client would be most vulnerable or already gone.Let’s take a look at the … [Read more...]
Basics of Estate Planning: IRAs
IRAs are complex assets to handle in an estate plan. There are tax issues during life and after death. Read this article to find out more.Basics of Estate Planning: IRAs … [Read more...]
Can an Estate Planning Attorney Help Me Protect the Family Farm?
There was a time in America when family farms and ranches were commonplace. Although that time has long since passed, family farms and ranches are still alive and well in some areas of the country. If you are the owner of a family farm, the odds are good that is has been passed down through your family from one generation to the next for decades if not centuries. If you plan to continue that tradition by passing the farm on to your children, planning ahead is the key to a successful transition … [Read more...]
Planning for Retirement Plans and IRAs: Asset Protection
Perhaps the largest part of most Americans’ wealth is in their qualified plan or IRA. Planning for these assets is one of the most important parts of the estate plan, for many reasons. This article will discuss the asset protection of such plans and how a trust may be used to provide asset protection.Planning for Retirement Plans and IRAs: Asset Protection … [Read more...]
Planning for Retirement Plans and IRAs: Beneficiary Designation
Perhaps the largest part of most Americans’ wealth is in their qualified plan or IRA. Planning for these assets is one of the most important parts of the estate plan, for many reasons. This article will discuss the importance of beneficiary designations.Planning for Retirement Plans and IRAs: Beneficiary Designation … [Read more...]
