If you find yourself reading this blog post, you must be looking for some information about estate planning. You are definitely in the right place, because we have literally hundreds of posts that you can check out to build on your knowledge. There are also additional resources available on this website. But for now, you would do well to stay right here. In this piece, we are going to provide five estate planning tips that will make you aware of some facets of the process that can fly under … [Read more...]
When Is an Estate Probated in New York?
Probate can be defined as the legal process of estate administration. In the state of New York, the Surrogate’s Court has jurisdiction over estate cases. If you were to use a last will to express your final wishes with regard to the way that you want your assets distributed, you would name an executor in the document. After your passing, the will would be admitted to probate. The executor would handle the estate administration tasks, and the court would provide supervision. Sometimes, a … [Read more...]
Planning for Frequent Flyer Miles
This article examines the transfer of frequent flyer mile accounts to beneficiaries. It looks at Anthony Bourdain’s will and its disposition of his miles. The article points out that these are contractual rights and you may or may not be able to transfer them at death. Planning for Frequent Flyer Miles … [Read more...]
Incapacity Planning
Nobody wants incapacity, not for yourself and not for your loved ones. But planning for that possibility can avoid complications and increase options. The article discusses the elements of incapacity planning and the need for flexibility to do Medicaid planning. It discusses how a trust with Medicaid triggers can allow that. Incapacity Planning … [Read more...]
A Special Option for Special Kids
When planning for children with special needs, it takes special care to preserve their eligibility for public benefits. An ABLE account is a new way to preserve eligibility while gaining tax advantages. Read on to learn more about this new tool in planning for those who were disabled by age 26. A Special Option for Special Kids … [Read more...]
Free Report: Should You Justify Your Estate to Heirs?
The fact is, there are those who simply do not want to leave anything to their families for reasons they choose to keep within the family. Those reasons, while we never know for sure the details, are often deep and long-running. Topics covered in this report include: Reasons for not telling Reasons to tell Click here to read the whole article or download the PDF. … [Read more...]
Estate Planning in Essex Junction: Philanthropy as Part of Your Efforts
Did you know that in 2010, Americans gave close to $300 billion in their charitable efforts? This, according to Giving USA, is indicative of the giving nature most of us can identify with, even during a tough recession. Further, trends suggest that more Americans are making their philanthropic efforts a priority and they’re ensuring their efforts become part of their overall estate planning efforts. In another study, this time from Bank of America Merrill Lynch, it’s revealed that more … [Read more...]
Essex Junction Vermont Estate Planning: The Step Up Factor in Estate Planning
Seems as though a host of new catchphrases are making the rounds when it comes to estate planning. Freebasing, stepping up, bypass trusts – the list is endless – and confusing. Ultimately, clients want to know the best way to avoid over burdensome taxes on their estates and how to ensure their survivors aren’t burdened with what should be a generous gift made by a deceased loved one. There are a host of new tax law changes that are complicating those efforts for some. For years, estate … [Read more...]
The Risks of No Contest Clause
In a perfect world, our wills would serve only to better the lives of our loved ones after we’re gone. There would be no hard feelings, no disbelief, anger or threats after heirs learn the contents of a will. Too many times, though, families split because of their inheritance (or lack of). A no contest clause is one way of limiting those battles, but there are a lot of moving parts you need to understand before including this clause in your estate plan. The Basics A no-contest clause basically … [Read more...]
Disappointing Turnout for Alzheimer’s Testimony
In what should have resulted in a robust turnout among the nation’s lawmakers actually became testimony about Alzheimer’s disease being delivered to just two senators. Seth Rogen, a Hollywood actor, director and producer who’s starred in several films, testified in front of the Senate Committee on Appropriations about the rising costs of Alzheimer’s disease and to ask what the committee intended to in order to provide better funding. One look at the statistics reveals why so many Americans are … [Read more...]
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