There are five common myths that frustrate all estate planners—particularly because we know that not only are they patently untrue, but also because their continued circulation can be harmful. 1. Estate Planning is only for rich people. This is probably the single most common estate planning myth there is—and it is a myth. During a […]
Read moreLast Tuesday my husband planned a surprise birthday party for me. When I showed up at the Ruth's Chris Steakhouse for dinner, there were 50 close friends waiting in the backroom. Although I hate surprises, it was very special to share the celebration with them. I asked my husband why he threw the surprise party, […]
Read moreEverybody thinks it won’t happen to them. Or rather, everybody knows it’s going to happen to them eventually, but nobody thinks it’s going to happen tomorrow, or next week, or even next year. The “it” of which I speak is, of course, death. It is this perceived immortality that allows so many people to put […]
Read moreEstate planning can be a pretty involved affair, even for people whose lives are fairly straightforward; but if you are an ex-patriot, have dual citizenship, or plan to leave assets to family members in another country the estate planning process can by downright mind-boggling. This is because each country is going to have its own […]
Read moreCommon superstition says that famous deaths come in threes, but the death of New York Yankees owner George Steinbrenner on July 13 makes four billionaire deaths in 2010. It’s hard to deny the significance of such events in a year when there is no estate tax. According to the Associated Press Steinbrenner’s family is set […]
Read morePart of creating an estate plan is talking to your spouse, your family—and yes, your attorney—about your end-of-life wishes. A living will or healthcare directive is an essential part of any estate plan. This is the document in which you nominate the person or people who will make healthcare decisions for you when you are […]
Read moreWith all the estate tax proposals currently floating around the Senate the future of the estate tax is anybody’s guess… but that doesn’t mean we’ll stop trying to figure it out. A recent article in the Wall Street Journal touches on some of the more recent (and more controversial) proposals floating around Washington. The proposal […]
Read moreSix months into 2010 and the estate tax repeal is still making news. This time it’s a story about Texas billionaire Dan L. Duncan who died in March, leaving all of his billions to his spouse, family and various charitable organizations… and none to the government: “Had his life ended three months earlier, Mr. Duncan’s […]
Read moreHow will you be planning for your retirement? According to CNBC your gender could play a bigger role than you think in your retirement plan. While of course, not everyone will adhere to gross generalizations, studies have interestingly shown that men and women do have a tendency to take a different approach to saving and […]
Read moreThere was too much confusion to be much rejoicing when the estate tax was repealed for a year on January 1st, 2010. Although the words “no estate tax” may sound good, nobody really expected the state of affairs would last. Most experts believed that Congress would never actually let it happen in the first place; […]
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