The Benefits of Pet Trusts
Pets provide a lot of enjoyment and comfort to their owners. Your pet is probably considered a valued family member. Since you love them, you give them the best life you can. But what if you were suddenly unable to…
How Do-It-Yourself Estate Planning Can Go Wrong
Your estate plan may seem more cost-effective if you create your own documents. However, it can be costly in the end, both financially and in terms of family well-being. Estate planning involves important decisions about how your assets will be…
Changing Tax Laws Affecting Retirement and Estate Planning
As part of the Inflation Reduction Act (IRA) and the SECURE 2.0 Act, tax provisions were recently incorporated. Lower-income household tax code changes will automatically take effect. Households of higher income and net worth may want to review their retirement…
How to Prepare Your Family for Unexpected Events
In case of unforeseen circumstances, such as an accident, incapacitation, or death, planning for the unexpected ensures you are prepared. If the COVID-19 pandemic taught us anything, it’s that life is uncertain and that caring for you and those you…
Exploring the Major Components of Estate Planning
When you die, an estate plan ensures your loved ones are cared for according to your wishes. It requires organization and strategy and begins with five key legal documents that can address many areas of estate planning concerns. Proper estate…
Estate Planning Amongst Tax Reform
The federal estate tax law, gifts, and GST exemptions may require an annual review and amendment of your estate plan. Since 2018, federal tax assessment on estates above $11.7 million, indexed for inflation every year, will default back to pre-2018…
The 2023 Secure 2.0 Act
First major change in retirement legislation since 2006 was the Setting Every Community Up for Retirement Enhancement Act (SECURE). The impact of the SECURE Act on some retirees, near-retirees, and their future beneficiaries may significantly affect you, and it’s imperative…
Timeline of Probate
During probate, a will is legally recognized, a person (executor) is named or validated to administer the estate, and assets are distributed to beneficiaries. It also requires paying the decedent’s outstanding debts and federal and state taxes. Each state has…
Estate Planning for the LGBTQIA+ Community
No matter what your gender identity or sexual orientation is, estate planning is essential for protecting your assets, your wishes, and the people you care about. Estate planning allows you to designate your partner, whether you are married or not,…
Planning Your Estate to Avoid Conflict Among Heirs
Family circumstances, particularly those pertaining to inheritance, can cause disagreements among heirs, including minors and adults. Relationships can change and intensify when you die, with underlying issues that bubble to the surface, creating tensions over your estate and possibly tearing…