People often have questions about Estate Planning. This is the fourth in a series of articles addressing those questions. This fourth article addresses the “where” of Estate Planning. Read on to learn more. The Questions of Estate Planning, Part 4: Where … [Read more...]
Face Elder Financial Abuse Head On
One of the most pressing elder law issues at the current time is that of elder financial abuse. It can be hard to imagine a time when you would be able to keep tabs on your affairs and detect threats, but things can change when you get older. Clearly, this is not a very pleasant subject to contemplate, but it is wise to meet it head on so that you can take the right steps to protect yourself. Even if you are always safe and sound on this level, there is nothing lost if you put the necessary … [Read more...]
Top Five Estate Planning Mistakes
When we post on this blog, we usually share information about what you should do when you are planning your estate. On this day, we are going to go in a different direction that is just as useful if not more. We are going to look at five common estate planning mistakes that should definitely be avoided. Intestacy Let’s face it, passing away is not on anyone’s to-do list. For many, death is a taboo subject, and while it may be understandable, this perspective can yield negative … [Read more...]
The Questions of Estate Planning, Part 3: When
People often have questions about Estate Planning. This is the third in a series of articles addressing those questions. This third article addresses “when” to do Estate Planning. Read on to learn more. The Questions of Estate Planning, Part 3: When … [Read more...]
Why Do I Really Need a Will?
There are people that think that they do not need a will because the state will step in and take care of everything appropriately. In fact, there are some very good reasons why everyone should have a will or some other estate planning document, and we will give you a quick rundown in this blog post. The Condition of Intestacy If you pass away without a will, the condition of intestacy would exist. Under these circumstances, the Surrogate’s Court would supervise the estate administration … [Read more...]
Is a Bequest to Your Spouse Taxable?
In this post, we are going to examine the unlimited estate tax marital deduction. However, before we get into this specific area, we should provide a broad overview of the federal estate tax itself. The federal estate tax is imposed on wealth that is being transferred that exceeds a particular amount. This threshold is called the estate tax exclusion. The amount of the exclusion has varied significantly over the years, so the current numbers we are going to share are subject to change. In … [Read more...]
The Questions of Estate Planning, Part 2
People often have questions about Estate Planning. This is the second in a series of articles addressing those questions. This second article addresses “what” Estate Planning comprises. Read on to learn more. The Questions of Estate Planning, Part 2 … [Read more...]
Is Joint Tenancy a Good Estate Planning Move?
People sometimes hear bits and pieces about estate planning and they make important decisions based on incomplete information. This can be a huge mistake that comes back to yield negative consequences, and these circumstances often stem from misguided probate avoidance notions. Probate is a legal process that enters the picture if you use a last will to state your wishes with regard to the distribution of your directly held personal property. It allows for creditors to seek satisfaction from … [Read more...]
The Questions of Estate Planning, Part I: Who
People often have questions on Estate Planning. This is the first in a series of articles addressing those questions. This first article addresses “who” should do Estate Planning. Read on to learn more. The Questions of Estate Planning, Part I: Who … [Read more...]
Probate 101
Estate planning is something that most people are not particularly anxious to think about. But at the same time, as they say, no one here gets out alive. Going through life without making any preparations for something that is definitely going to take place really doesn’t make a lot of sense. If you do decide to put the wheels in motion and begin to look into the process of estate planning, you will hear about something called probate. When you use a last will to express your final wishes, … [Read more...]
