If you were to die without any estate planning documents at all, the condition of intestacy would exist. In this post, we will explain the way that intestate estates are handled. When you learn all the facts, you will see why you should take action to prevent intestacy. Probate The probate court will provide supervision during intestate estate administration. It should be noted that a will would also go through probate, but this is a subject we will cover in another post. Someone has to … [Read more...] about Who Inherits Assets When There Is No Will?
Estate Planning
Leaving Assets Can Be Tricky – Part 3
Leaving assets to your adult children or other beneficiaries may seem simple. But in many situations, it can be quite tricky. For example, if you have a beneficiary with special needs, you must take special care. Read on to learn more. … [Read more...] about Leaving Assets Can Be Tricky – Part 3
Tony Hsieh of Zappos Fame Died Without a Will
Zappos online shoe store is one of the great business success stories of the Internet era. It all began in 1999 when an entrepreneur named Nick Swinmurn left a voicemail for Venture Frogs cofounder Tony Hsieh. Sminmurn was looking for start-up capital to launch an e-commerce website that would sell shoes, and Hsieh was not interested when he started listening. He was ready to move on to the next call when Swimmurn mentioned the fact that footwear was a $40 billion a year industry. The size … [Read more...] about Tony Hsieh of Zappos Fame Died Without a Will
What the 2020 Election Could Mean for Your Estate Plan
The November elections are over. What was the outcome of the election? What changes could come about as a result? What do those possible changes mean for your estate plan? Read on to learn more. … [Read more...] about What the 2020 Election Could Mean for Your Estate Plan
New Year’s Resolution: End the Estate Planning Procrastination
When the calendar turns over, people look at the event as an opportunity to get a fresh start, and they make resolutions. You may resolve to try to overcome some unhealthy proclivities, and there are those that decide that they will tie up some loose ends once and for all. As estate planning attorneys, we urge people to take action in 2021 to protect their assets and preserve their legacies, because procrastination is all too common. Most People Are Unprepared Caring.com has been conducting … [Read more...] about New Year’s Resolution: End the Estate Planning Procrastination
IRS Releases 2021 Estate Tax Exclusion Adjustment
Over the last couple of weeks we have been sharing information that has been made available about adjustments to relevant government program parameters. We have looked at the Social Security cost-of-living adjustment and the increases in the out-of-pocket Medicare costs. In this post, we will look at yet another relevant figure that has been released by the Internal Revenue Service. Federal Estate Tax Exclusion The estate tax exclusion is the amount that can be transferred before the estate … [Read more...] about IRS Releases 2021 Estate Tax Exclusion Adjustment
Preparing for the Unexpected…and the Eventual
The world is an unusual place. Things you’d never expect to happen sometimes actually do happen. There are natural disasters and unusual phenomenon. It’s important to prepare, not just for the unexpected but the eventual, as well. Read on to learn more. … [Read more...] about Preparing for the Unexpected…and the Eventual
Generational Wealth is Key to Leveling the Playing Field
Generational wealth is wealth earned by one generation and passed on to the next. Generational wealth is key to allowing the next generation to be free from the burden of having to live hand-to-mouth and allows them to pursue an education and build a career or business to build a better life for themselves. Read on to learn more. … [Read more...] about Generational Wealth is Key to Leveling the Playing Field
The Basics: Powers of Attorney for Healthcare
Powers of Attorney are part of even the simplest estate plan. A Power of Attorney allows your Agent to act for you. There are Powers of Attorney for financial matters and also those for health care. This article concerns the Healthcare Powers of Attorney and Advance Directives. Read on to learn more … [Read more...] about The Basics: Powers of Attorney for Healthcare
Use the Exclusion or Lose It
Currently, each person can give $11.58 million during life or at death. However, that amount will be cut in half by January 1, 2026. It may go down even sooner. Read on to learn why and how you should use it before you lose it. … [Read more...] about Use the Exclusion or Lose It
