Estate Planning

/Estate Planning

Estate planning is the preparing of legal documents to carry out your testamentary intent.  Estate planning does not just take into account the high net worth individual who is primarily concerned about estate taxes, but rather planning for everyone’s testamentary intent.   Testamentary intent is what you want to happen when you die.  Notwithstanding, the general definition estate planning can include sophisticated gifting options to reduce one’s taxable estate and avoid or diminish federal and state estate taxes.

Your Estate Plan Should Reflect Your Interests

No one wants to think about death and dying. They are morbid subjects to be sure but they are something every smart business person needs to think about. This means having a business plan in place in case something should happen to you and also making sure your will and estate planning is up to date. The question is, what kind of assets are we talking about? Depending on your area of expertise and interests, this can be anything from stocks and bonds to real estate to rare coins and precious metals. Here are some things you might want to consider passing [...]

By |2018-09-13T21:58:27+00:00September 13th, 2018|Estate Planning|0 Comments

Most People Should NOT Use a Do It Yourself Will Preparation Services

In addition to my day job and running a few websites, I also own and run a small legal practice where 99% of my matters have to do with estate planning and administration.  Every client is a referral which inherently builds a nice network of traceable people I have helped discover and implement their testamentary intent. I was sitting with one of these referrals the other day when she asked me a pretty direct question regarding my thoughts on using Do It Yourself Will Preparation Services.  I was taken back by the question as we had already been sitting for the better [...]

By |2018-07-22T12:15:22+00:00June 15th, 2017|Estate Planning|0 Comments

A Standard Estate Plan Will Not Work For Second Marriages

Estate planning when a person has been married before or has children from previous marriage is a very difficult subject to undertake, but like most estate planning issues it should not be ignored.  There are a multitude of reasons why a simple estate plan will not work for most second marriages. What is a Simple Estate Plan? and Why does Extra Care Need to be Taken Planning your Estate When There is a Second Marriage? A simple estate plan, which can be commonly referred to as an "I love you will" is a natural distribution wherein everything is passed from the decedent [...]

By |2017-02-23T14:27:40+00:00January 14th, 2016|Estate Planning|0 Comments

Most People Should See a Qualified Attorney When Drafting an Estate Plan

I know Warren Buffet has said multiple times, "Never ask a barber if you need a haircut" but this estate planning attorney believes that almost everyone needs a will, and to boot, I think most people should see a qualified attorney to draft the proper documents.  The need stems from the basic premise that most people do not know what they don't know when it comes to the topic of estate planning. A Few Issues that May be Overlooked When Creating An Online Will I think it is safe to say that most people that are creating a will using an online [...]

By |2015-10-02T14:37:05+00:00March 10th, 2015|Estate Planning|0 Comments

A Confusing But Common Estate and Life Insurance Decision

I participate in a lot of financial and estate plans, and there is a common distribution technique I never understood.  The worst part, is that it almost always unintentional.  I think most people would would agree that a child who has lost both of his or her parents should not receive money outright, and as such, his or her inheritance should be held in a trust.  The terms of that trust may will vary depending on the age of the parents, age of the children, responsibility of the children, other family dynamics, experiences of the parents, etc., however, most people do not have their [...]

By |2014-04-14T23:30:19+00:00April 15th, 2014|Estate Planning|0 Comments