There are many estate planning techniques available to a family that wants to protect assets to pass on to the children or grandchildren; options that extend far beyond a simple will, and even beyond a basic living trust. Two of these effective but lesser-known techniques are the Grantor Retained Annuity Trust (GRAT) and the Family […]
Read moreIf you or a loved one has spent any time in hospitals recently then you know that they operate under strict rules regarding privacy; rules that, according to this post by Tara Parker-Pope, can seem difficult or unfair. These rules prevent hospital staff from sharing information about patients (even with extended family members), and in […]
Read moreThe government has plans for your children’s inheritance. The particulars of the estate tax have been in flux, and have been the subject of much debate over the past few years, with the only constant being that there always is an estate tax. And now the Obama administration is proposing more changes to the estate […]
Read moreA trust is one of the most flexible and most powerful estate planning tools, and not just for avoiding unnecessary estate taxes. Many of the clients who come through our office choose to create trusts for other reasons as well; namely to protect their heirs from predators, creditors, and sometimes even from themselves. Sometimes a […]
Read moreWe did two estate planning seminars this week to a lovely group of audience. As I emphasized during the presentations, the number one reason that people die without protecting their assets or their heirs is not that they lack the money to create an estate plan, and it’s not that they don’t know that they […]
Read moreNothing, it seems, has the potential to cause a fight over inheritance quite like a second marriage. The Wall Street Journal’s SmartMoney magazine, in an article entitled Before Your Parents Say ‘I Do’ Again says that poor estate planning (or even worse, no estate planning) can cause terrible damage to family relationships: “As Americans live […]
Read moreSo many clients come into our office, finish signing their estate plan, start to lean back with a sigh of relief only to sit straight up again and say “My parents really need to do this! I wish they would listen to me and come in to see you.” How can adult children persuade stubborn […]
Read moreJane Austen once wrote “There will be little rubs and disappointments everywhere, and we are all apt to expect too much; but then, if one scheme of happiness fails, human nature turns to another; if the first calculation is wrong, we make a second better.” Such an (eventually) optimistic philosophy is good to have in […]
Read moreDo you consider yourself an organized person? It seems that when it comes to organization some people have the gift for it and some people simply don’t. If you’ve ever had (or have currently) the overwhelming job of sorting through the estate of a deceased loved one, you know how very grateful you can be […]
Read moreAt the end of the day, when all of the decisions have been made and documents have been signed, many estate planning clients still have one question: Should I tell my Fiduciaries that I’ve nominated them as executor, healthcare agent, guardian, etc; and how much should I tell them? The answer to the question is […]
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