Tag Archives: Estate Planning

Determining your Testamentary Intent and Avoiding Common Mistakes

Determining your Testamentary Intent and Avoiding Common Mistakes

I truly believe that everyone needs a will and have provided reason after reason why you need to create a Last Will and Testament ASAP.  These reasons include: Proper Distribution of Assets – Both in terms fo what you want and what is most efficient Guardianship Issues – Who is going to take care of children of… Continue Reading

Forget the Federal Estate Tax, You May Need to Worry About State Estate Taxes!

Forget the Federal Estate Tax, You May Need to Worry About State Estate Taxes!

Almost every single day, I have to explain the Federal Estate Tax. The people I have to explain the federal estate tax to are not tax professionals, they are either financial advisors, other attorneys, or successful business owners. So, needless to say, I better explain estate taxes from 30,000 feet above. The details do not… Continue Reading

How Can a QTIP help your Estate Plan?

How Can a QTIP help your Estate Plan?

You probably came to this post thinking how I was going to tell you how the amazing little cotton swab is going to save your estate plan.  However, that’s more reasonable then thinking that this is a post about how he Rapper named Q-TIP is going to save your Estate Plan (don’t remember him? Anyone… Continue Reading

Where are Estate Taxes Going?

Where are Estate Taxes Going?

The question I hear the most when I am teaching classes are, where do you think the Estate Taxes are going?  I always respond, they aren’t disappearing. Period.   The current administration (along with the last one) is running through money like it was beer at a keg party!  So is it likely that we are going… Continue Reading

What is a Power of Attorney? Everyone Should Know Before Signing One

What is a Power of Attorney? Everyone Should Know Before Signing One

Despite my age, part of my job description is to review and critique Wills and ancillary documents that clients provide the financial planners.  You would be shocked how many are tax inefficient or worse do not even follow the testamentary intent of the client.  Notwithstanding the ineptness of some attorneys who are drafting Wills, there… Continue Reading

Strange Will Bequests and Estate Plans

Strange Will Bequests and Estate Plans

Did you ever think your last wishes were weird or strange?  My mom wants Phantom of the Opera playing at her wake; luckily I talked her out of actually putting it in the Will I drafted for her. My Last Will and Testament has certain provisions for hundreds, if not thousands, of glass coke bottles I have… Continue Reading