Beneficiary designations can be a simple way to pass assets at death. While beneficiary designations avoid probate, they may introduce other problems. This article shows how a revocable trust can provide a more flexible way to achieve a client’s goals. 6 Important Estate Planning Considerations – Part 4: Beneficiary Designations … [Read more...] about 6 Important Estate Planning Considerations – Part 4: Beneficiary Designations
Legal Education
Planning for the International Client
Estate planning for the international client can be tricky. This article looks at the estate tax treatment of U.S. citizens and non-resident aliens. The article then looks at an example of someone who lived in the U.S. and then departed. Planning for the International Client … [Read more...] about Planning for the International Client
Planning for the Unexpected
This article examines the death of Charlotte Fox, one of the most famous mount climbers ever, who fell down her stairs at home. You never know what risks might be around the corner, so you should be prepared. The article looks at the elements of a basic plan. Planning for the Unexpected … [Read more...] about Planning for the Unexpected
6 Important Estate Planning Considerations – Part 6: Taxes
An estate plan considers many important aspects. One of the many aspects to consider is the impact of taxes. This article examines some of the many ways consideration of taxes might impact an estate plan. 6 Important Estate Planning Considerations – Part 6: Taxes … [Read more...] about 6 Important Estate Planning Considerations – Part 6: Taxes
6 Important Estate Planning Considerations – Part 3: Your Kids
An estate plan considers not just to whom assets should go, but also how. Each beneficiary is unique and the estate plan should consider their unique situation. This article looks at a couple with three very different children and how they might leave the assets for them in three very different ways. 6 Important Estate Planning Considerations – Part 3: Your Kids … [Read more...] about 6 Important Estate Planning Considerations – Part 3: Your Kids
Estate Planning is Too Important to Procrastinate
Only 44% of Americans have even a simple Will. We procrastinate for several reasons. Learn those reasons and how to push past them. Learn, briefly, why planning is important. Estate Planning is Too Important to Procrastinate … [Read more...] about Estate Planning is Too Important to Procrastinate
Retirement is Complicated
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...] about Retirement is Complicated
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...] about Basis is Important in Estate Planning
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...] about Treasury Releases New Inflation Adjustment
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...] about Estate Planning: Simple is not Always Better
