Autism is a developmental disability that strikes with alarming frequency these days. Autism is called a "spectrum disorder," meaning that there is no one consistent symptom. Instead, individuals with autism exhibit one or more of the behaviors associated with the disorder, and the severity of the symptoms will vary person by person. In many cases people with autism require care and treatment throughout their lives. This can be extraordinarily expensive, reaching well into … [Read more...] about Autism Awareness Month Raises Planning Questions
Estate Planning
Three Estate Planning Errors to Avoid
Sometimes people make errors of commission or omission that come back to haunt them or their families. We would like to take a look at three common estate planning errors in an effort to bring them to your attention so you can take steps to avoid them. 1.) The Creation of a Do-It-Yourself Estate Plan This is an error that is becoming increasingly common in the age of the Internet. Doing things for yourself can be personally rewarding, and it can sometimes save you money. … [Read more...] about Three Estate Planning Errors to Avoid
Are You Leaving Children Unequal Bequests?
When you are engaged in the process of inheritance planning you are going to be faced with the prospect of making some important and potentially sensitive decisions. Exactly how much you are going to give to each person on your inheritance list is one of them. It can seem as though it is only fair to give each of your children equal inheritances. Many people go this route regardless of the relative financial situation that each respective child may be in, and there is certainly … [Read more...] about Are You Leaving Children Unequal Bequests?
Speak With Attorney After Spouse Passes
Estate planning is a long-term process, and this is one of the reasons why you should think in terms of developing an ongoing working relationship with your estate planning attorney from the start. Things change in your life, and invariably these changes are going to call for estate plan updates. Some of the changes are quite positive, such as additions to the family or an improved financial standing. Unfortunately, others are necessary because someone that you love passes … [Read more...] about Speak With Attorney After Spouse Passes
Estate Planning Considerations for Same-Sex Couples
People who are involved in committed long-term same-sex partnerships may or may not have the ability to have their unions legally recognized in the states within which they reside. At the present time Indiana is not one of the states that will allow for gay marriages. This has some very profound implications on an estate planning level. There is a $5.25 million per person exclusion, but this only applies to asset transfers between people who are not married. If you are legally … [Read more...] about Estate Planning Considerations for Same-Sex Couples
Wealth Preservation Is Key
If you are the first person in the family to accumulate significant wealth you probably had to work hard in one way or another to put together these foundational resources. You also have to work hard to make sure that they stay in the family for generations to come. It is logical to assume that "money makes money." According to experts a lot of people who inherit large sums of money do embrace this mantra, but they ultimately sit around waiting for this money to multiply … [Read more...] about Wealth Preservation Is Key
Koch Estate Faces Heavy Taxation
The federal estate tax can absorb a lot of money that would have otherwise gone to people that you love. There are those who do not empathize, saying that everyone must pay his or her fair share of taxes. But is the estate tax fair? People who are exposed to the estate tax pay taxes throughout their lives, so it could be argued that they have indeed already paid their share and perhaps more than their fair share. Why should another tax be imposed upon the event of someone's … [Read more...] about Koch Estate Faces Heavy Taxation
Do You Have an Estate Planning Consultation Scheduled?
If you have an initial estate planning consultation scheduled you should know what to expect. Your attorney is going to ask certain questions to determine what your needs are and gather the information that he or she requires to properly address these needs. Previously Executed Estate Planning Documents For one thing, you should inform your attorney about any previously existing estate planning documents that you may have signed in the past. When an estate is being administered there … [Read more...] about Do You Have an Estate Planning Consultation Scheduled?
Jerry Buss Leaves Lasting Laker Legacy
It may be difficult to empathize with people who have what many of us would consider to be very pleasant problems. However, the estate tax can in fact place a roadblock between you and your legacy. Imagine a situation where someone has invested his or her entire life into building a sports franchise. This person’s family members have been involved in the operation of the team. The team becomes almost synonymous with the family name. Over the years the team grows in value, … [Read more...] about Jerry Buss Leaves Lasting Laker Legacy
Three Things a Revocable Living Trust Won’t Do For You
There are some very useful things that revocable living trusts can do for you when you are planning your estate. One of them is the ability to address the possibility of incapacity. Around 40% of people who are at least 85 are suffering from Alzheimer’s disease, and of course this is not the only cause of incapacitation. So, incapacity planning is a must. With these trusts you can choose a disability trustee, and this individual or entity would be empowered to handle the assets … [Read more...] about Three Things a Revocable Living Trust Won’t Do For You
