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Home Comforts: Maximizing Your Most Valuable Asset

If you're like many Americans, your home is your single most valuable asset, both emotionally and financially. In addition to being the center of your family life and possibly your most significant financial investment, your home can offer you benefits in terms of taxes, estate planning and asset protection. This article provides various examples of the benefits you can take advantage of as a home owner. With the help of a qualified estate planning attorney, you can make the most of your home, now and in the future.

Estate Planning: It's About More Than Taxes

In 2010, contrary to a lot of people's expectations, Congress allowed the one-year repeal of the estate tax. Despite all the fuss, the estate tax repeal didn't eliminate the need for estate planning. Why? Estate planning is about so much more than just taxes. This article discusses the many non-tax related reasons why it's important to have an estate plan in place.

Calculating Your Financial Wealth

There are many financial and non-financial reasons to know your net worth. Estate planning is one of those important times when knowing your net worth is essential. When you plan your estate, your attorney needs to have an idea of your financial assets in order to design a plan that achieves your goals and preserves your assets for your family and loved ones. This article provides 3 simple steps to assist you with calculating the financial value of your assets.

The Impact of Dying Without an Estate Plan

Most of us expect that we'll be around to see another day. However, many people die unexpectedly from accidents, heart attacks, and other misfortunes. However, another big tragedy is dying without an estate plan due to procrastination. The time to plan is when we're alive and well, before illness or incapacity can strike an unexpected blow. This article looks at what would happen if you passed away with no plan in place to outline your wishes both during any period of incapacity and after your death.

Funding is Critical to Estate Planning

When Ted and Emily set up their Revocable Living Trust, they thought they were done. But when Ted passed away, Emily found out how wrong they were - the Trust they had created had not been funded. Some assets passed as joint tenancy, some by beneficiary designation and other assets had to go through probate. Learn how a properly funded trust could have avoided the distribution problems Emily encountered and achieved the results they had set out initially to accomplish.

Tax Saving Benefits of a Life Insurance Trust

Most people have heard of a Living Trust, but not many have heard of an "ILIT" or Irrevocable Life Insurance Trust. This type of specialized trust is structured to hold life insurance policies on your life. This article discusses how an ILIT works and the estate tax planning advantages it offers. Learn more about the benefits of this type of trust and whether an ILIT is right for you.

Keeping Your Vacation Home in the Family

Vacation homes hold a special place in our hearts with fond memories of special times shared with family. However, most people do not realize that leaving the family's vacation home to their children without proper planning can be devastating to their ongoing relationships and can tear the family apart. This article discusses the estate planning options available to preserve family relationships and keep the vacation home in the family through the use of special shared use agreements and separate funds that will pay for any expenses.

Top Reasons to Do Estate Planning--What are You Waiting For?

People have many different reasons to do estate planning. This article discusses the top 8 reasons which estate planning attorneys say motivate their clients to plan, which range from vacations to law changes. The bottom line is that people do estate planning in order to take care of their loved ones and to assure the legacy they envision. Don't wait until it is too late, create a plan today and ensure that when you pass away your loved ones will discover a coherent estate plan without the emotional and financial mess.

Selecting an Estate Planning Attorney - Wisely

Your estate plan determines who will be entitled to your assets, how they can use them, and the protections which they and the assets you leave them may have from creditors, divorcing spouses, etc. This article discusses the importance of finding the right attorney to assist you in creating that plan and the downside to using an attorney who is not experienced in estate planning, even if they are a friend.

Dos and Don'ts of Managing an Inheritance

An inheritance is a bittersweet thing. Your loved one valued your relationship enough to leave you something to make your life better, you want to honor their memory and use the inheritance wisely. This article lists important "Dos" and "Dont's" to follow regarding the use of your inheritance. Also mentioned in this article are tips to consider if your inheritance is in an IRA. All too often inheritances are squandered on meaningless items, take some time to consider your options and make a difference with your inheritance.

What Keeps a New Mom Up at Night Besides the Baby?

The birth of a new baby is a wondrous and joyous event. As a new mom you look forward to caring for your baby and watching your precious bundle of joy grow and develop from infancy to being a toddler, and then school-age to young adult. However, if something unexpected should happen to you, who would look after your child's physical and financial well being? This article reveals how you can provide a secure future for your new baby, with a comprehensive estate plan, should the unexpected happen.

Preserving Grandma's Legacy

You find your grandma's estate planning documents when you're helping her organize her attic. The documents were dated two decades ago, just before grandpa died. After grandma dies, the assets will have to be split among her three kids. However, since the estate plan was drafted, the family's circumstances have changed considerably and things aren't quite that simple anymore. Leaving her assets outright to her 3 children would mean that their inheritance would be lost to creditors and medical expenses. This article discusses the importance of having an up-to-date estate plan to preserve your legacy and family history as well as having a conversation with family members about their own planning.

How to Avoid Estate Planning Minefields: You Don't Know What You Don't Know

Some things seem like they should be easy--and they are easy. However, the problem with some complex responsibilities is that they may seem simple on the surface, yet they may be very difficult in reality. This is equally true for estate planning. However, experts can spot the hidden problems which the ordinary person may not. This article looks at the problems one couple had when they opted to use do-it-yourself estate planning software instead of consulting with an attorney. There was a hidden minefield that caused everything the family had worked for to be lost to an ex-spouse. Something that could easily have been avoided had they consulted with an experienced estate planning attorney. Find out what some of the most common estate planning minefields are and how you can avoid them.

Living Trusts Enhance Privacy Protection

One of our primal fears is the fear of not having privacy and the protections which privacy provides. Today, anyone can find a great deal of information about you by doing simple online searches. This article discusses the privacy advantages of having a Revocable Living Trust, there are more than you may know. A qualified estate planning attorney can help you create a trust to protect your privacy and provide peace of mind both during life and after your death.

Family Feud - Don't Let This Be Your Legacy

Few things are as heart-wrenching as a dispute among family members. Problems in an estate or trust can often cause deep divisions in a family, divisions that outside forces might never have been able to cause. This article discusses five easy steps you can take to avoid disputes over your estate and ensure harmony continues long after your death.

A New Tax and Retirement Opportunity in 2010

We all know the importance of saving for retirement. However, those earning above $100,000 have had one retirement saving opportunity denied to them: the Roth IRA. If you fall into this category, you are now in luck! Beginning in 2010, there is no income limitation for converting from a traditional IRA to a Roth IRA. There are two methods to get money into a Roth IRA: Contributing money to the Roth IRA or converting a regular IRA to a Roth IRA. The rules are different depending on which method is used. In this article, you will learn how a Roth IRA works and the advantages you may gain if you convert. A Roth IRA can be a great way to save for retirement. But remember, these and other valuable assets in your estate are governed by beneficiary designations. A qualified estate and retirement planning attorney, who focuses their practice in that area, can help tailor an estate plan that coordinates the beneficiary designations and can help you decide whether switching to a Roth IRA is right for you.

Pet Planning - Not Just for the Rich and Eccentric

When people think of someone setting up a Trust for their pet, they might imagine Leona Helmsley's pet Maltese named Trouble drinking Perrier from a crystal bowl in a lavish Manhattan penthouse. However, you don't have to be rich and eccentric to set up a Pet Trust to care for their beloved pet(s). Pet Trusts are most commonly set up by caring individuals who just want to make sure that their non-human family member is taken care of in the event of their own death or disability. This article discusses the 3 easy steps necessary to set up a Pet Trust for your furry and feathered family members. Remember, without you planning for them in advance, they may face the same awful fate that awaits so many other orphaned pets. You will sleep better knowing that they will continue purring or wagging their tail even if you're no longer able to care for them.

4 Deaths, 3 Estate Planning Mistakes

What would you want to leave behind for your family when you pass away? If the answer is not a contentious mess, then planning is required. Unfortunately, only 44% of Americans have a simple Will, much less a well-coordinated estate plan. In this story there are 4 deaths with 4 different outcomes. Each had the best of intentions but only one provided for their loved ones after their passing. A qualified estate planning attorney, one who focuses his or her practice in estate planning, can help you craft a well-coordinated estate plan that will provide for your loved ones who were left behind and avoid the 3 mistakes made by these families.

Taking Care of Rover After You're Gone

Your pet may have been with you for years and provided companionship and support. We plan for our human families, like our children, but oftentimes forget about our pets or assume someone will take on their care. However, if we do not make arrangements for our pets, they may join the hundreds of thousands of sad pets who end up in shelters, or worse, are euthanized because of their owners' death or disability. These loving, vulnerable members of your family need you to plan for them, too. This article discusses how a Pet Trust can help you provide for your pet when you are no longer able to offer care and support.

When Time Is Short

Thinking about the end of a loved one's life is always tough to do. But what if you learned your mother only had one year to live, what would you do? After discussing treatment options, hospice, and her health care management, it may be wise to talk with your mom about setting an appointment with her estate planning attorney. Chances are her current estate plan isn't up-to-date, or worse does not exist. This article reviews a number of issues that should be discussed with her estate planning attorney to ensure your mothers' wishes are taken care of and her assets protected. This will help alleviate concerns and let your mom focus on making the most of her last days with her loving family.

When a Loved One Passes

A death in the family can be especially traumatic and it is easy to overlook important items. It is often helpful to have a checklist with the various steps that need to be completed, so that in the panic and grief of the moment, nothing is forgotten. In this article you will find a short list of important action items and tips to help guide you when there has been a loss in the family. Keep this list handy so that you will not forget any major items. Don't go through this alone, a qualified estate planning attorney can help guide you through the often-difficult process after the death of someone close to you.

Passport. Hotel Reservations. Living Trust?

When the inhabitants of Gilligan's Island went out for their three-hour tour, chances are they were not prepared for what was about to befall them. If they had never been rescued would their families be stuck in probate court attempting to divide their property even today? This article discusses the steps you need to take before you leave for vacation. The steps include a General Durable Power of Attorney and Revocable Living Trust, among others. Once these important measures are put in place, you will be able to relax and enjoy your vacation, worry-free!

Eighteen and Alone: The Legal Risks of Independence

When your child turns eighteen, it may feel like nothing has changed. But, disconcerting as it may be, for all legal purposes, turning eighteen makes your child an adult. Even more disturbing is the fact that without proper legal safeguards, you may no longer have any say in their medical care or financial matters. This article reviews the barriers that may prevent you from accessing your child's medical information in case of an accident or illness. Also discussed in this article are several legal safeguards that can be used to prevent this from happening to you and your child.

Estate Planning in the Electronic Age

In today's electronic age, it seems that things are changing at an ever increasing rate. Every time we turn around, there's a new technology and more and more information to keep in mind. With the electronic storage of sensitive financial and emotionally valuable information, a new concern people have is what to do with "electronic assets" after their death or disability. This article discusses four possible options for the transfer of these potentially valuable assets.

Don't Trust Your Legacy to Just Anyone

When we plan our estates, we must take into account the potential life changes that may arise for our surviving family members and ensure that we provide inheritance protection from the many real world dangers that may come up in today's times. However, not all estate plans are created equal. The knowledge and experience of the attorney you retain could make a significant difference in the lives of your surviving family members. Learn what to look for in the attorney you work with and the importance of including divorce, remarriage and lawsuit protection in your estate plan.

Estate Planning: It's Not Just About the Documents

An estate plan passes your assets to whom you want and in the manner you want after your death. However, some of your assets may not be controlled by your Will or Living Trust. This article discusses the various problems that can result when a thorough review of assets and ownership titles doesnt happen and how working with an experienced estate planning attorney can ensure that you avoid any planning pitfalls.

What Do Estate Planning and Shoes have in Common?

Surprisingly, estate planning and shoes share many similarities. However, selecting and implementing an estate plan is a bit more complex than choosing a pair of shoes. This article discusses the many similarities between shoes and estate planning, while providing a list and explanation of the various important components in a complete and integrated estate plan

Guarding Against Mental Incapacity

Mental incapacity is something that concerns all of us as we age. Like physical decline, the loss of mental alertness may not be entirely within our control. This only increases the need for proper planning. If you have not planned, and are no longer able to handle your financial affairs, a competency hearing may be necessary. This article discusses certain estate planning tools that are available to help avoid this hearing and take care of you and your family in the event of your incapacity.

Preserve Your Legacy, Not Just Your Money

Death and incapacity are a natural part of the process of life. Along the way, we develop our values and accumulate assets and experiences. When planning for the future, ensuring your assets pass to your loved ones is only the beginning. A new paradigm in estate planning is emerging, Legacy Planning. This considers not only the tangible financial assets you are going to leave your family, but also what your goals, experience and values are. This article gives an overview of the key components of a Legacy Plan and explains how each component works together to create a plan that meets your needs and which your family will cherish for generations to come.

Scams, Swindles, and Fraud, Oh my!

With more and more financial swindles making the news, it is not unreasonable to be worried about where you are investing. But scams are not limited to the investment field. There are plenty of scams to go around, even in estate planning. Seeking the counsel of a qualified estate planning attorney can help ensure you will not be the victim of an estate planning scam. This article explains what to look for in a qualified estate planning attorney.

Caring for Your Spouse....Even After You're Gone

Do you worry about caring and providing for your ailing spouse and making sure their needs are met, after you are gone? This article describes how a Testamentary Special Needs Trust is one estate planning strategy that can help you do exactly that. Learn how you can plan now to help your spouse qualify for financial assistance for their future medical and nursing home costs, while preserving your assets for other expenses or "luxuries" that your spouse may need, which are not covered by government benefits.

Trustee: an Honor and a Responsibility

Being named a Successor Trustee in your loved one's Trust is both an honor and a responsibility. It is the Successor Trustee's responsibility to administer the Trust and make many important decisions. In this article, we learn that some of those decisions may seem deceptively simple, however, the consequences of any hasty decisions could cause increased taxes and lost opportunities. Learn why it is important to consult a qualified estate planning attorney in order to prevent costly errors.

Real Security

During these unsettling times everyone is searching for ways to feel more secure. This article provides details on how different components of a complete estate plan can provide real security for you and your loved ones, while building a solid foundation that can bring peace of mind during these unsettling times and in the future.

Your Team is on Your Side

Estate Planning is like a team sport. Your team should be made of qualified professionals, which you have selected. This article examines your team members and describes the role they should play in achieving your goals. Working with your team, you will be able to build a game plan to get you to the finish line.

A Loan May Be Taxing

This article examines important tax issues that may be overlooked when lending money to family members. Issues regarding gift taxes and income taxes are addressed and a possible solution using proper planning through an Irrevocable Trust is discussed.

New Year Brings Resolutions... and More

The coming of the New Year presents an opportunity to reflect on the past year, and reorganize our priorities and goals. One important resolution is protecting our assets and our families through estate planning. The process to achieve this goal is discussed in this article.

Powers of Attorney - May Not Be Enough

This article examines the limitations of using a power of attorney to delegate decision-making authority to someone else. It explores the solutions available through the use of a living trust by nominating someone as successor trustee.

Vacation Properties Take Planning

Just as taking a vacation takes some planning, vacation homes take some special consideration in an estate plan. There are several factors to consider, such as the possibility of ancillary probate, the use of the vacation home by beneficiaries, and the value of the home in your estate. The article reviews the use of both a revocable living trust and a special irrevocable trust, for those with a taxable estate, to create an effective estate plan that includes the vacation home.

Planning Opportunities in a Down Market

Every dark cloud has a silver lining, including uncertain economic times. This article examines unique estate planning opportunities that are available during a down economy. Tax savings by converting an IRA to a Roth IRA at a lower value, and transferring shares in a family business at diminished asset values are two strategies reviewed.

Planning to Benefit Non-Traditional Beneficiaries

Traditional estate planning strategies are not always available to people who have non-traditional beneficiaries, but here is a strategy that can only be used for non-traditional beneficiaries. These beneficiaries include unmarried domestic partners, same-sex married couples, nephews and nieces, and friends. This article examines the use of a Grantor Retained Interest Trust (GRIT), which is not available for traditional "members of the family", as a strategy to help plan for non-traditional beneficiaries.

Everyone Needs a Periodic Checkup

This article examines how legal and life changes may make it a good idea to consult with your estate planning attorney to ensure that your estate plan continues to achieve your financial and estate planning goals.

A Trust Can Help Protect You from a Financial Crisis

This article examines how a trust can help expand the protection on your financial accounts, including those at banks, savings and loans, credit unions, and brokerages.

The Silver Lining in Tough Economic Times

This article examines the current difficult economic times and how one estate planning strategy works better now than in better economic times.

Split Things Fairly - Not Exactly

This article examines the difficulty of giving an asset that makes up the bulk of the estate to one beneficiary, while treating the other beneficiaries fairly.

Grandma and Grandpa--You're the Best!

The article examines ways to give to grandchildren, both during life and after you are gone.

Unique Planning for Unique Families

The article examines how Legacy Wealth Planning can be used effectively with a blended family.

Same-Sex Marriage Confusion

This article examines the impact of Californias landmark decision to allow same-sex marriages for both state and out-of-state residents. It clarifies the impact that this decision has on out-of-state residents and what responsibilities other states have of recognizing same-sex marriages performed in California.

What's in a Word?

The article examines how George Carlin's comedy shows that the use of words can be important. The article looks at why that is also true in estate planning.

What Successful People Do

The article briefly looks at a few billionaires, that all of them have in common that they plan, and that they have done estate planning. The article goes on to show how with Legacy Wealth Planning the reader can do them one better.

Dividing Up the Pie

The article looks at FLPs, an advanced estate planning strategy. The article explains how FLPs can minimize estate taxation and maximize asset protection.

The Top 10 Things to Know About Estate Planning

Many people are often confused by Estate Planning. Here is a list of the top things to know about Estate Planning.

Joint Tenancy - Joint Problems

Joint tenancy avoids probate and seems like a simple solution. Howver, adding a joint tenant adds all sorts of unforeseen problems.

Preparing for the Unthinkable

This article recites statistics regarding unexpected tragedies in the United States including heart attack, stroke, and auto accidents. It calls on the reader to establish a Legacy Wealth Plan to be prepared.

The Debate Continues and the Future of the Estate Tax Remains Uncertain

This article discusses the uncertainty created by EGTRRA and the likelihood (or lack thereof) of a fix from Congress in 2008. The article discusses the arguments for and against the complete repeal of the estate tax and the likelihood that Congress will not act until after a new President is elected. The article closes by encouraging consumers to see an experienced estate planning attorney for their needs.

A Plan by Design or by Telephone?

The article looks at the game of "Telephone" and how transmitting your legacy in this manner is likely to result in error.

Death and Tragedy

The article looks at the tragedy of family disputes and how to avoid them.

Charitable Giving and the Holiday Spirit

The article examines various aspects of gifting such as the annual exclusion of $12,000 per person, as well as various charitable strategies.

Special Needs Trusts and Autism

Autism is on the rise. You want to leave assets to your child without jeopardizing the availability of public benefits. A Special Needs Trust can help. This article explains how.

Legacy Planning: A Holistic Approach

This article looks at the latest developments in estate planning: "Legacy Planning." Legacy Planning focuses on the values and guidance to be relayed to future generations, not just wealth. The article discusses The Family Wealth Trust and its two subtrusts, the Family Access Trust and the Family Sentry Trust and how they can protect the beneficiaries from divorce and creditors.

What's the Worst That Can Happen?

We often think that estate planning only deals with our assets at our death. This article debunks that myth and shows how a lack of planning can have negative consequences even during your life and not just on your assets.

Do You Know Who Your Beneficiaries Are?

The article looks at several types of items that pass outside a Will or Trust. In particular, it examines retirement beneficiary designations and new rules by Vanguard Group which might have disastrous results for the unaware.

Putting Your Legal Life Back Together After Divorce

Divorce is common today. This article examines how to put your legal affairs back in order after a divorce.

Protect Your Children Now and in the Future

The article examines how you can use a Family Access Trust or a Family Sentry Trust to protect the inheritance you will leave to your children.

Decisions, Decisions, Decisions...

This article looks at the factors people consider when making estate planning decisions.

Three Myths Women Have About Estate Planning

This article looks at several myths women have about estate planning. It includes some statistics that show why estate planning has more impact on women.

To My Dog, Lucky, I Leave $10,000

The article examines the use of "pet trusts" and a few examples of how pets were provided for in the past.

Gifting to Children

This article examines gifting strategies for transfers in trust to minors. Specifically, it looks at Crummey trusts and 2503(c) trusts and the advantages and disadvantages of each.

What are the Odds

This article examines the need to plan for the unexpected. It gives statistics for the odds of disability and of death from various likely and unlikely causes. It shows the importance to plan for the one certainty in life, i.e., death.

Help for Our Armed Forces

he article examines the taxation of combat pay. Specifically, combat pay is tax-free. Also, it looks at new legislation that allows combat pay, otherwise not in income, to be considered as income for IRA eligibility.

Learn from Anna Nicole's Mistakes

The article examines Anna Nicole's Will and that she did not update it upon major changes in her life: death of a son, birth of a daughter, commitment ceremony to Howard K. Stern. It suggests that the reader learn from these mistakes and be sure to update their plan periodically.

Your 401k or IRA: A Problem Asset?

The article looks at IRAs and 401ks and how we need to save for retirement. Then it looks at the tax problems these plans create. It examines the stretch out available with the FRPT. It also examines using distributions to fund life insurance.

The Choice Is Yours: Don't Lose Your Chance to Make It

The article examines two cases: Terri Schiavo and Sarah Scantlin. Neither expressed their end of life decisions. Terri had her feeding tube removed after 15 years. Sarah awoke from her coma after 20 years. The article calls the reader to express their own desires in a Living Will.

What Happens in My Initial Estate Planning Consultation?

This article describes what happens in the initial estate planning consultation, including the questions asked, the discussion of goals, etc. The article also references a CNNfn segment that talked about the importance of stringent continuing education requirements, like those of the American Academy of Estate Planning Attorneys.

Is a Power of Appointment the Same as a Power of Attorney?

The article examines a few legal terms that can be confused, like Power of Attorney, Attorney in Fact, and Power of Appointment. The article examines the terms and specifically, how Powers of Appointment can add flexibility to a plan.

Estate Planning is Simple....Right?

This article examines clients' preconception that estate planning is simple and that it's just simple word processing. The article examines situations in which the estate planner's experience and technical knowledge comes into play.

How to Leave a Mess to Your Heirs

This article examines several common mistakes that create a mess for heirs: Lifetime Transactions without counsel (such as adding people on title to realty), Failure to Plan, and Failure to Communicate. The article poses the problem and then offers a solution to each.

Your Most Important Choice

The article discusses the importance of selecting appropriate agents and guardians. It specifically examines the different roles and focuses on guardians. It looks at a case in which the guardian nominated was not chosen by the court.

Anna Nicole Smith Can Teach Us a Few Things

The article examines the life of Anna Nicole Smith, her marriage, and the will dispute controversy. It encourages readers to be open about their wishes to family members and instructs on the use of a no contest clause.

Do it the Right Way

This article examines the life of tobacco heiress Doris Duke and a couple mistakes she made in planning her estate.

Keep Your Cake - And Eat It, Too!

This article examines the Medicaid Income Only Trust. It gives an example of two women who are roomates in a facility: One who contributed to a trust and one who did not.

Celebrity Estate Planning

The article examines interesting provisions of the wills of many famous people. It explains how this information is public and that if you use a trust you can keep your affairs private.

Preserving the Ranch for the Next Generation

The article examines a typical ranch family, the problems they face, and solutions. It touches on problems of joint tenancy, incapacity, and succession. It offers an RLT, a second to die ILIT, and a buy-sell as solutions.

1st Anniversary of Terri Schiavo's Death

March 31, 2006 marks the one year anniversary of Terri Schiavos death. More than any other story, Ms. Schiavos situation brought the need for living wills and other advance directives to the forefront of everyones attention. In the past year, an unprecedented number of people have explored their personal health care desires and made plans for their end-of-life wishes.

Could Deficit Reduction Take Your Life Savings?

This article discusses how long-term care costs can be a major financial drain. It looks at how the changes in Medicaid law could make it much more difficult to plan. It stresses the need for pre-planning. It briefly looks at Income Only trusts as a potential planning option.

I Just Inherited Money! Now What Do I Do?

This article examines what a beneficiary should consider when they find out they are receiving an inheritance. It touches on basis step-up, disclaimer, non-inclusion in income, etc.

As Time Draws Near

This provides an overview of planning strategies when someone is approaching death.

10 Tips in Planning for Taxes

The article examines several strategies for minimizing income taxation, through timing of expenses and income, etc. It includes items to consider at year-end.

Handling Matters After the Death of a Loved One: Just Do It

The article examines the need to administer an estate or trust in a timely manner. It looks at several pitfalls resulting from inaction after someone's death, including not filing tax returns, not notifying creditors, etc.

Insurance: A Major Estate Planning Tool

he article looks at various types of insurance from life insurance to homeowner's insurance. It explains how minimizing risk is part of estate planning.

When Disaster Strikes

This article examines how tragedies can strike in any of our lives but how planning can lessen the impact. Estate planning can let you rest easier and make sure others have the legal right to help you when you need it.

Is Estate Planning for Me?

This article examines various reasons people think estate planning is not for them, such as they aren't married or don't have money. It explains why they need estate planning.

Should I Leave Everything to My Spouse?

The article examines the tension between leaving assets outright to a spouse and leaving them in trust. It discusses creditor and divorce protection. The article also discusses allowing the surviving spouse to appoint the assets in the trust.

Advantages for Unmarried Couples

There are many advantages for married couples. However, there are a few ways that unmarried couples can take advantage of the system. The article examines two such ways, one simple (harvesting losses by selling a loss asset to the other partner) and one complex (a Grantor Retained Income Trust which is not allowed for related parties).

Charitable Bequests: You Better Review Them

This article examines the importance of periodic trust review and uses an example of charitable bequests and cy pres.

Remarriage: Treat New Spouse Like Royalty

Examines use of income trust in remarriage situations. Analogizes to royal trust in Duchy of Cornwall.

How to Handle a Windfall

This article examines the financial and estate planning steps for clients to take when they come into a financial windfall.

Why is My Trust so Long?

Examines why a trust document must be long in order to be clear. Gives examples of issues requiring clarification.

Domestic Partnerships: First, Know the Facts

Domestic partnerships vary dramatically. Examines differences and federal tax issues.

My Child is 18, Now What?

It seems like just yesterday your son or daughter was a toddler and you were beaming with pride as they took their first wobbly steps. You have been there for them as they had their first day of school. You were there when they skinned their knee sliding into first base in little league. You helped them learn how to ride a bicycle and watched as they teetered down the driveway, hoping they would not fall (or crash into your car that you had forgotten to move to the safety of the garage). You were there as they grew faster than you ever thought possible. Soon they were driving, as evidenced by a few extra gray hairs on your head. Now, they are reaching adulthood, their 18th birthday.

Your Ex-spouse May Get Most of Your Assets

Divorce is relatively commonplace nowadays. According to the National Center for Health Statistics, there were 957,200 divorces in the United States in 2000. That means that more than 1.9 million Americans get divorced each year. According to the United States Census Bureau, approximately one-half of all marriages now end in divorce.

Family Torn Apart by Simple Oversight

On December 3, 1963, Mary and Robert Schindler gave birth to a wonderful baby girl, Theresa Marie. Terri grew up in Pennsylvania and had a typical childhood playing with her brother and sister and the family pets. As a teenager, she loved music and did artistic sketches. In November 1984, just shy of her twenty-first birthday, Terri married Michael Schiavo. Terri seemed to have everything going for her. At age twenty-nine, Terri was living in Florida with her husband and had a job she liked.

Grandparents as Parents: Planning is Critical

Grandparents fill a special role in the life of any grandchild. However, some grandparents raise their grandchildren and are the primary caregiver for them.

In Estate Planning, Caveat Emptor

When we think of Estate Planning, most of us think of the kindly attorney consoling family members at the reading of the Will. We think of the family lawyer who is there to counsel us through illness and family discord. An attorney who focuses his or her practice on estate planning applies the knowledge of the complex laws to the situation at hand. Such an attorney explains the law to the client and is a trusted advisor and counselor. This area of the law is one of the most challenging as it requires knowledge of real property law, family law, business entities, income taxation, estate taxation, gift taxation, state and local taxation, Medicaid reimbursement, and other topics. Few areas require a practitioner to have such depth and breadth of knowledge as well as counseling skills second to none. Attorneys focusing in estate planning study long and hard in honing their skills and keeping abreast of changes in the law.

Joint Tenancy: Simple But Problematic

With joint tenancy, two or more individuals hold title together. At the death of a joint tenant, the property automatically re-vests in the remaining joint tenants. Many people think they can avoid seeing a lawyer to do estate planning by titling all of their assets in joint tenancy, thus avoiding probate. This is a simple solution, but it invites many problems.

Should You Be A Resident of Your State?

We have all thought about faraway lands and the path not taken. As we grow older, many of us are fortunate enough to have a second home in which we spend much of our time. Perhaps it is a place to escape the blistering heat of summer or winters icy grip. Perhaps it is a place near children or grandchildren.

Planning in a Down Economy

A poor economy puts a different spin on planning. It is likely many of your assets have decreased in value. Interest rates are low. The size of your overall estate may be less than it once was. All of these factors should be considered as you evaluate or re-evaluate planning options.

Get an Estate Plan - Not an Estate Scam

Estate planning is an important part of life. In fact, it is central to who we are as people. In planning for our future, we must analyze who we are, what our goals are, and whom we wish to help in this world. It makes us aware of our own mortality, but also the impact we can make in the world. A qualified estate planning attorney can help you with this important and intimate process — accomplishing your goals in the best, most tax efficient manner.

Estate Planning Is Life Planning

What is the first thing that leaps to most peoples minds when they think about estate planning? A will. Weve all seen the dramatic scenes in films of yesteryear: the reading of the will. The truth of the matter is that the will is no longer the focal point of estate planning.

Preserving the Family Home from Medicaid Recovery

Many of us fear that as we age we will need medical assistance. We strive throughout life to maintain insurance to pay for medical expenses while trying to save. Many of us also want to leave something for our children, so that they have an easier time in life than we did starting out. Perhaps the most meaningful asset to leave is the family home, for emotional as well as economic reasons.

Basic Planning for Unexpected Tragedy

None of us ever expects tragedy. Some of us plan in case it strikes us. But we never really expect it to happen to us. But, on February 25, 1990, tragedy struck Terri Schiavo and her family. At 26, Terri was a woman in the prime of her life enjoying a beautiful day in Florida. However, on that fateful day Terris heart inexplicably stopped beating. She became comatose and unable to communicate.

Planning for Vacation

You and your spouse have dreamt of this vacation for months. You have saved for it. And now, finally, the sand and surf beckon for a second honeymoon. You have gone over your checklist several times. You packed your favorite swimsuit and your good walking shoes. You even made sure to hide that Hawaiian shirt you would rather your spouse not bring. You made sure the kids are ready to go to your parents house – or as ready as possible. Is the thermostat set? Whos taking care of the mail? You know the routine; we have all done this many times before. But, as we prepare for a long vacation, inevitably we wonder "what if". What if something happens at the house; I better have someone check on it and water the plants. What if something happens at the office; I better give them my cell phone number. What would happen to the kids if we were in an accident?

When Wishes Change and Documents Stay the Same: The Ted Williams Story

e prepare wills, trusts, and other estate planning documents for many reasons. We prepare them to put things in order. We prepare them to save taxes and probate costs. However, most importantly, we prepare them to make sure that our goals are achieved and our wishes are carried out.

Top 10 Reasons for Periodic Estate Planning Review

Some people think that estate planning is a once in a lifetime project. But, as John F. Kennedy said, "change is the law of life." Periodic review of an estate plan is essential to ensure that your plan continues to accomplish your goals in the most effective manner.

Common Asset Protection Mistakes in Estate Planning

We all know that estate planning includes decisions about what should happen to our assets upon our death or disability. However, people often overlook asset protection issues and strategies in the estate planning process. Asset protection is the shielding of assets from potential creditors and others.

How to Help [Insert Charity Name]

There are many ways each of us can help [charity]. However, some ways are better suited to certain donors while other methods make more sense for other donors. Following just a few of the many ways that you can use to help [charity] thrive.

A Tale of Two Tragedies

On January 11, 1983, Nancy Cruzan was a healthy 25-year old woman driving along an icy road in rural southwestern Missouri. She slid off the road and her vehicle was found overturned. Nancy was found face down in a ditch, unconscious and not breathing for twelve to fourteen minutes. Emergency personnel worked valiantly and were able to resuscitate her. However, Nancy remained unconscious, being fed through a tube into her stomach.

Dying Isn't Necessarily the Worst Thing That Could Happen

When we think of estate planning, we ask ourselves: What happens if I die? Certainly, this is a very important question. While failing to plan for death can cause terrible consequences, failing to plan for disability could be even worse.

How to Give to Charity and Get Something in Return

Giving to charity leaves the donor with a special feeling of having helped others. You feel good for having helped your church, your alma mater, or your community. Wouldn't it be nice if you could help your favorite charity and get something in return?

Estate Planning in a Low Interest Rate Environment

When interest rates are low, everyone knows it may be a good time to take out a loan or refinance their home. But, low interest rates also affect some techniques in estate planning. The basic elements of an estate plan remain the same: A Revocable Living Trust, a Pourover Will, a General Durable Power of Attorney, and a Health Care Power of Attorney. But, some of the advanced techniques in estate planning become more or less desirable when interest rates are low. Let's take a look at some of the techniques and how interest rates impact their utility.

How Will Your Assets Pass Upon Your Death?

Have you ever wondered what happens to a person's assets when they pass away? Just about everyone knows about a Will, and the fact that it includes instructions on how to dispose of a decedent's assets upon his or her death. But did you know there are other ways of transferring assets to your loved ones upon your death? You can easily remember three methods by recognizing the acronym C.O.P. - Contract, Operation of Law, and Probate.

Planning Reduces Stress in Times of Tragedy

The recent tragic events in New York, Virginia, and Pennsylvania have shaken each of us to the core. We look at the horrific images of destruction and misery surrounding us and they speak to us in a personal way. Many Americans have flocked to churches, synagogues, mosques, and other places of worship seeking answers to questions regarding the meaning of life and the existence of suffering.

Why Women Hold the Keys to Successful Estate Planning

Some people still assume that, when it comes to financial and legal matters, women are not key players. However, this is entirely inaccurate. Women are most likely to be highly involved and greatly affected by estate planning. In recent generations, women have taken on a larger role in the financial arena. The number of women in the workplace has tripled in the last fifty years. Meanwhile, the real median income of women has increased by sixty-three percent, while that of men has declined by six percent in the same period. This income shift changes the family dynamics and gives women a greater voice in financial matters. According to a recent survey, women have an equal say in major financial decisions in seventy-five percent of households. In homes where one partner is solely responsible for financial decisions, women outnumber men in that role by a four to three margin.

What to Know before Naming A Child as Successor Trustee of Your Revocable Living Trust

When creating a Revocable Living Trust it is important to carefully choose who will administer the assets of the trust. The party or parties responsible for ensuring that the instructions found in the trust document are followed is called the Trustee. In most estate plans, it is common for a Revocable Living Trust to be structured so that the Trustors, the creators of the trust, serve as the Trustees throughout their lives. Upon their deaths or incapacity, it is not uncommon for a child to be named as the Successor Trustee of the various trusts established under the document. Although this may be a wise choice in many circumstances, it is important to consider all the complications that may arise when a child is selected for such a significant role.

The Family Limited Partnership: Is it Right for You?

Whether you own a business or have read articles on estate planning, you inevitably have heard of the Family Limited Partnership ("FLP"). This 40-year old creature has become extremely popular within the last decade. However, an FLP is a complex estate planning tool and should not be formed without consulting an attorney who is knowledgeable in their proper structure, as well as the potential income, gift and estate tax consequences of its creation and existence.

Special Children Require Special Estate Plans

Raising and caring for children is a lifetime commitment. Parents of a child with special needs (disabled, mentally retarded) have a much bigger responsibility both during their lives and after they're gone. They need to plan their estates properly to ensure their child remains well-cared for and is still eligible for government and private aid. This article addresses these important issues.

Estate Planning and Marriage the Second Time Around

Today in 30 percent of the more than 2.3 milion marriage ceremonies performed each year, at least one of the partners has been there before. And in many of these remarriages, there are children from a previous marriage. This trend can make proper estate planning even more critical, and helps explain why the QTIP Trust is growing in popularity, as this article reveals.

Home Free with the Qualified Personal Residence Trust

Home owners can give their homes away, capture tax advantages, and continue to live in their homes for as long as they want, all thanks to the Qualified Personal Residence Trust. How this estate planning strategy works and who should consider it is discussed in this article.

Estate Planning Tips for Divorced or Remarried Parents

In this era of divorce, remarriage and blended families, estate planning takes on special implications. This timely article presents estate planning guidelines parents need to know to protect their children and a new spouse.

Protecting Your Assets with the Family Limited Partnership

In today's litigious society, families need creative strategies for protecting their wealth from predators. This article explains the actions that put people at risk of lawsuits and shows how the Family Limited Partnership can help them protect their wealth.

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