Many factors go into retirement decisions. This article examines many of those factors, such as where to retire, access to healthcare, income taxation, estate taxation, property taxation, etc. This article includes many links to helpful lists.Retirement is Complicated … [Read more...]
Basis is Important in Estate Planning
When choosing the direction to take in estate planning, it’s important to consider the impact on income tax basis. This article examines the nature of basis and follows an example from acquisition of property to death and looks how basis is adjusted along the way. Since the property is included at death, the basis receives a step-up to the value of the property at death. Upcoming articles will examine how common estate planning strategies impact income tax basis.Basis is Important in Estate … [Read more...]
Treasury Releases New Inflation Adjustment
The new tax law doubled the estate tax exclusion through 2025. This article looks at the exact amount of the new exclusion (it’s not what you thought) and how it might be useful. The article also examines why there’s no reason not to take advantage of the newly-doubled exclusion.Treasury Releases New Inflation Adjustment … [Read more...]
Estate Planning: Simple is not Always Better
Clients often want the simplest estate planning solution possible. While keeping it simple is an understandable goal, the simplest solutions are not often the best. This article shows a couple simple solutions for estate planning and why, in most circumstances, a living trust is at the center of a more robust estate plan and more likely to provide the desired protections.Estate Planning: Simple is not Always Better … [Read more...]
Retirement: It’s not Just About the Money
Many factors go into retirement decisions. This article examines some of those factors. Being financially prepared is one aspect. Having your estate planning in order is another. But, being socially and psychologically ready for retirement are yet other aspects which people often don’t consider. Be ready for your next phase of life, this article will help you get there.Retirement: It’s not Just About the Money … [Read more...]
How Are You Planning for Long-Term Care (LTC) Expenses?
What’s the right direction for you in planning for future medical expenses? The odds are even that you’ll need long-term care (LTC) after age 65, at least for a while. Here are possible paths for covering those potential costs.How Are You Planning for Long-Term Care (LTC) Expenses? … [Read more...]
6 Important Estate Planning Considerations – Part 2: Long-Term Care
Many considerations must be addressed in an estate plan, not just who gets whatever’s left after your death. Long-Term Care expenses are an ever-increasing concern. Your estate plan should consider how those expenses would get paid. This article looks at several ways to plan for those expenses.6 Important Estate Planning Considerations – Part 2: Long-Term Care … [Read more...]
6 Important Estate Planning Considerations – Part 1: Incapacity
One of the most important considerations in an estate plan is incapacity planning. This article describes how an estate plan provides incapacity planning and the documents which may be used to accomplish that planning. It also looks at how having a plan in place may relieve stress during an emergency.6 Important Estate Planning Considerations – Part 1: Incapacity … [Read more...]
Frank & Kraft Published 1,000th Blog Post
The estate planning attorneys at Frank & Kraft are excited and proud to announce that our firm has reached a major milestone: we've now published 1,000 blog posts on our website. We're excited that we've hit this milestone for lots of reasons: we've had a great time publishing this blog to educate readers and we hope that we've made a difference in people's lives by making the concepts of estate planning easy. Estate planning can be a difficult subject for people because no one likes to … [Read more...]
How to Keep Your Estate Affairs Private
Estate planning attorneys help you to implement plans that allow you to accomplish your goals for your legacy. This means identifying what you hope to achieve through the creation of an estate plan and then making effective use of legal tools so those goals are realized. There are many different reasons for creating an estate plan and many different goals most people have when they begin the process. Protecting wealth and providing for loved ones are typically the goals at the top of the … [Read more...]
