Perhaps the most important matter to consider that is outside of your control when you are planning your estate is possible exposure to the federal estate tax. One of the reasons why there are a lot of people who do not think that the estate tax is fair is because of the fact that everyone is not required to pay it. If it is so necessary for the functioning of the government, why is it selectively imposed? And how can you fairly create an exemption amount and then change it on an … [Read more...] about Estate Tax Parameters: Looking Ahead
Estate Planning
Avoid Misconceptions Regarding Estate Planning
There are certain misconceptions floating around with regard to estate planning that should be debunked. When you act, or fail to act, due to bad or inaccurate information you can often put yourself and your family in a bad situation. With this in mind let's take a look at a few of the myths that are out there. One of them regards the estate tax. Some people are under the impression that they don't have to worry about it because they're not rich and this is a tax that is … [Read more...] about Avoid Misconceptions Regarding Estate Planning
Estate Planning: Explain Your Wishes To Your Family
There are those who like to keep their financial affairs close to their vests, and many of them have good reasons for doing so and of course this is a personal matter. However, when you are engaged in inheritance planning you may want to reconsider some long held convictions in this regard. There may come a time to open up a bit in an effort to make sure that your loved ones are on the same page after you pass away. The first consideration is going to be avoidance of challenges to your … [Read more...] about Estate Planning: Explain Your Wishes To Your Family
Davis Inheritance Plan For The Raiders
If you have been a fan of NFL football for a while you are well aware of the impact that Oakland Raiders owner Al Davis had on the sport. Davis became the owner of the team in 1970 and guided the franchise to four AFC Championships and a trio of Super Bowl triumphs. He worked with legendary coach John Madden and watched superstars such as Fred Biletnikoff, Daryle Lamonica, George Blanda, Jim Plunkett, Marcus Allen, Lester Hayes, and Art Shell carve out iconic careers. Al Davis … [Read more...] about Davis Inheritance Plan For The Raiders
A Legacy Of Wisdom
Depending on just how seriously you take your legacy, there can be a lot more to estate planning than just preparing your assets for eventual transfer to your heirs. When you sit back and ruminate with regard to your life's path you may find it to be relatively easy to come to terms with your own mortality. The thing that bothers a lot of people more than anything else is the fact that they will no longer be around to counsel their loved ones. Without question, financial resources … [Read more...] about A Legacy Of Wisdom
Marital Agreements Can Provide Legacy Planning Solution
Regardless of the specifics of your family situation estate planning is something to take seriously and be proactive about. However, when you are a parent who is divorced and you intend to remarry you are probably going to want to engage in some rather advanced estate planning that requires additional expertise. We live during an era when divorce is quite common. Statistics on the subject vary, but somewhere in the vicinity of 40% to 50% of marriages are ending in divorce these … [Read more...] about Marital Agreements Can Provide Legacy Planning Solution
Inheritance Planning In Action
Let's say that you have reached the point where you are sitting in your favorite chair looking out the window contemplating your legacy. You may have a general idea of what you have to give and who you are going to give it to without having worked out all the details. When you arrange for a consultation with an estate planning attorney to hash out these details, he or she is going to let you know whether or not your estate is exposed to the federal estate tax. If it is, you're … [Read more...] about Inheritance Planning In Action
Estate Planning: Probate Can Complicate Things
The overarching goal of estate planning is to arrange for the smooth and efficient distribution of your assets to your selected heirs after your death. A lot of people automatically assume that the best way to do this is to execute a last will. Obviously you can go this route if you want to, but if you do your estate is going to have to pass through probate, and there can be some complications that go along with this process. If you're like most people you would prefer that your … [Read more...] about Estate Planning: Probate Can Complicate Things
Too Many Americans Have No Estate Plan
Though we are all aware of the fact that there are people who procrastinate and put some of their responsibilities on the back burner, you may think that most people are responsible enough to have an estate plan in place. But in fact, one of the reasons why we frequently emphasize how important it is to take action is because of the fact a surprisingly high percentage of people have not executed even the most basic of estate planning documents. There was a Harris poll conducted not too … [Read more...] about Too Many Americans Have No Estate Plan
Adjusting Your Estate Plan
One thing about estate planning that you need to keep in mind is that the initial estate plan that you create is probably not going to be appropriate throughout the entirety of your life. As years pass things will inevitably change and you will have additions and subtractions to the family, alterations in your financial profile, and perhaps changes in marital status. All of these life changes can call for adjustments to your estate plan, and this is why it is a good idea to develop a … [Read more...] about Adjusting Your Estate Plan
