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Pitfalls in Planning for Domestic Partners
Domestic partners, even ones registered with a state, do not share the same rights as married couples. Therefore, domestic partners need to be extra careful when crafting their estate plans. A recent article describes several common pitfalls to avoid in domestic partner estate planning. The first pitfall occurs in gifting assets to a partner. Domestic […]
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Why Farmers Avoid Estate Planning
As more and more American farmers reach the age of retirement, they sometimes feel that they are being forced to make decisions about what will happen to their farm after they pass on. Farmers typically have two options, (1) sell the farm, or (2) pass on the farm onto remaining family members or relatives. As […]
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Time to Plan for Your Pet?
Many pet owners are refusing to leave the future of their pets to chance. As a recent article explains, devoted pet owners are providing for the care of their pets through wills, trusts, or other estate-planning provisions. As pet owner Carol Santora explained, “I got really nervous about it because I don’t think anyone in […]
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Estate Planning for Special Needs Children: How to Get Started
Parents with special needs children face many challenges. While protecting your child’s financial future may seem like a far-off goal, a recent article points out that it is important to partake in some long-term financial planning now. Early planning helps to ensure that your child has enough assets to maintain proper care in the future. […]
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Early Estate Planning Important for Farmers
Estate planning is especially important for farmers and ranchers, as it assists them in passing the farm and its operation along to the next generation, and may save some taxes in the process. A recent article discusses important steps in the process of estate planning for farmers and ranchers. According to New York Life […]
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Benefit Claims to be Easier for Veterans With Brain Injuries
New regulations published in the Federal Register last December will ease the process of receiving health care and compensation for veterans who suffer or have suffered from a variety of illnesses that are caused by a traumatic brain injury (“T.B.I.”). As reported in The New York Times, the new regulations will provide expanded benefits to […]
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How to Give Away Your Home
A common estate planning question is whether it is better to allow your heirs to inherit your home, or give it to them as a gift. This article in the Los Angeles Times addresses that question. Generally, it is better to let your child inherit homes that have appreciated in value since your original […]
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Estate Planning For Married Couples and Domestic Partners – Party of One?
When it comes to structuring estate plans, a potentially awkward but necessary question to ask is whether you and your spouse will seek joint or separate representation. This article in Forbes discusses how you and your spouse might go about answering that question. Joint representation for estate planning has many benefits. First, it is generally […]
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Don’t Lock Out Your Executor!
Although most estate planning continues to be performed on paper, make no mistake that we are living in a paperless world. This simple fact makes it exceedingly easy to lock-out your executor at the very moment when you need them most. Therefore, this article in Forbes serves as a reminder that one of the most […]
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Trusts and Divorce – Are My Assets Protected?
As this recent article in Forbes points out, trusts are quickly gaining ground as a popular estate-planning tool. They are attractive to many because they can be molded to serve a variety of purposes. One such purpose may be shielding assets in the event of divorce. Prior to a marriage, any assets placed in a […]
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