Tag Archives: Estate Planning

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

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

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

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

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

Is your Hand Written Will Unenforceable? Does your State Recognize Holographic Wills?

Is your Hand Written Will Unenforceable? Does your State Recognize Holographic Wills?

In the past I have discussed Who Needs a Will? hint: Everyone and have provided 10 Reasons why YOU need a Will As Soon as Possible but something occurred to me, not everyone knows the requirements to create a valid Will in their state. I was discussing the possibility of drafting a Will for someone,