Learn the basics of Estate Planning, including wills and probate, trust, beneficiary designations & taxes.

Important Legal Documents Needed For Death or Disability

Have you ever wondered what documents might be needed in the event of death or a disability? Listed below are 15 essential documents from the website Funeral Resources: http://www.funeralresources.com/ Christopher P. Hill, the owner of Funeral Resources is an expert on this topic and his website is extremely helpful and a great place to investigate [...]

By |2015-06-25T18:45:01+00:00June 25th, 2015|Estate Planning|

Options for Avoiding Estate Tax

No one wants to think about leaving their loved ones with a heavy tax burden, which is why it is so important to speak with your certified financial planner to begin the planning of your estate as soon as possible. Even if you don’t think that you have a large number of assets, you would be surprised at the amount that the value of your cars, stocks, bonds, property, retirement accounts, etc. will total once your financial planner calculates it for you. Fortunately, there are several ways to avoid estate taxes, and this article will discuss some of the options available to you.

By |2015-05-23T04:07:10+00:00April 8th, 2013|Estate Planning|

Estate Planning Issues for Non Traditional Families – P2

If a couple resides in a state that permits common law marriage, estate planning can proceed just as it would in the case of a traditional marriage union. Couples who do not live in a state that permits common law marriage may still be able to claim married status if they have lived together for more than fifty years, have filed joint tax returns for most of this time, and under other specific conditions and special circumstances.

By |2015-05-23T04:32:03+00:00June 13th, 2012|Estate Planning|

Estate Planning Issues for Non Traditional Families – P1

A Non Traditional Family is an all encompassing term that is used to describe many different types of familial relationships. These may include, but are certainly not limited to: common law marriages, same sex partnerships, blended families, and domestic partnerships. The number of non-traditional families in United States has doubled since 1970, and Census figures estimate that 5.5 unmarried, cohabitating couples live in the United States alone.

By |2015-05-23T04:30:26+00:00June 13th, 2012|Estate Planning|

Estate Planning Issues For Non Traditional Families – P3

Unmarried persons, whether single or recognized as domestic partners, are at an advantage in terms of making gifts for tax planning transfer for the purposes of reducing an estate. This is because unlike married couples, unmarried couples, even domestic partners, are not permitted to split gifts, and tax free transfer of property, afforded to spouses, is not applicable in the cases of transfers between unmarried or domestic partners.

By |2015-05-23T04:36:22+00:00June 13th, 2012|Estate Planning|

Probate Conservatorships – Estate Planning Issues – P1

A Probate Conservatorship is a court proceeding in which a Judge selects a person, known from then on as a conservator, to manage the personal needs (known as Conservatorship of a person) and/or finances (Conservatorship of the estate) of a legal adult. This differs from the Guardianship appointment, which involves an appointed adult and a minor child.

By |2015-05-23T04:38:19+00:00June 13th, 2012|Estate Planning|

Estate Planning – Get Organized!

Not every situation requires the need for a full team and often just putting together a few parts can be enough to start the process. You should consider your personal situation and how it currently relates to your goals. When considering using advisors make certain they are necessary for your current plan.

By |2015-05-23T04:50:48+00:00June 12th, 2012|Estate Planning|

Private Charitable Foundations: Get more control over your tax dollars

If a charitable foundation is set up in your name-either during your lifetime or after you die, you, or the person in charge of the foundation, will have greater control over your money and how it is spent. If the foundation is set up by you, you have the option of naming whomever you wish to run the foundation, and you can also save money on estate, capital gains, and regular income taxes. Interested and ready to learn more?

By |2015-05-23T06:14:59+00:00June 7th, 2012|Estate Planning|

Protecting Your Family’s Inheritance: Beneficiary-Controlled Trusts

In a perfect world, your will would be drawn up, your assets would be distributed in a timely, no-hassle fashion after your death, and your family would be immediately able to enjoy the financial legacy that you spent your life creating for them. Unfortunately, no one lives in a perfect world, but a beneficiary-controlled trust can help ensure that your children will have access to their inheritance in a way that is faster, and is legally protected longer-than some of the more traditional methods. A Beneficiary trust is long-term many states allow this type of trust to remain in perpetuities for at least a century, if not longer. A Beneficiary trust also maintains a structure that protects assets from creditors, false-heirs, ex-spouses, and any other potential beneficiaries and parties not named by the trust.

By |2015-05-23T06:17:14+00:00June 7th, 2012|Estate Planning|