Health care directives are instructions given to allow for a person’s wishes to be carried out if they are not able to speak for themselves. There are two common types of health care directives: a living will and a durable power of attorney. Living Will A living will is a legal document in many states… Read More Estate Planning: Living Will & Power of Attorney
By spending a little money and time on estate planning keep the courts and attorneys from deciding how an estate is divided after a person’s death. By not having a plan, the end result can be that costs increase with delays and frustration for family members and loved ones. The substantial benefits yielded by planning… Read More Estate Planning: Property Ownership & Joint Tenancy
The fair market value (what a buyer is willing to pay a seller) of an estate’s assets is the value at which those assets are included in the gross estate for tax purposes. This amount is determined on one of two dates: the date of death or the alternate valuation date. The alternative valuation date… Read More Estate Planning: Death Valuation, Fair Market Value
When planning an estate, the process begins with digging deep into fact finding of finances. Reviewing assets and understanding the best ways to transfer assets is key in ensuring that family members will not have to deal with the “red tape” of probate court, especially if one passes without a will in place. Asset Review… Read More Estate Planning: Assets, Estates & Transfers
When planning an estate, the process begins with digging deep into fact finding of finances. Reviewing assets and understanding the best ways to transfer assets is key in ensuring that family members will not have to deal with the “red tape” of probate court, especially if one passes without a will in place. Asset Review… Read More Estate Planning: Assets & Finances
Estate planning can become complicated and confusing, especially when discussing terms such as per capita and per stirpes. However, how a person wants his or her estate divided after they have passed can be dictated based on these terms. Per Stirpes A legal Latin term, per stirpes literally means “by branch” and refers to the… Read More Estate Planning: Per Stirpes, Per Capita, Probate & More Definitions
When a person’s assets accumulate over time, one can expect to see those assets grow as they age. However, after death, a large chunk of those same assets can end up being eaten away by government taxes, fees, and other administrative costs. This decrease can be a significant portion of a person’s estate and is… Read More Estate Growth and Shrinkage
Planning what to leave heirs when a person dies is not something that can be done in one day. Rather, estate planning requires knowledge, thought, and ongoing protection of assets in order to reach the goals of wealth distribution for future generations. Estate Planning Estate planning involves the process of accumulating, preserving, and distributing assets… Read More Estate Planning: How to Keep More of Your Money
Parents who find themselves caring for a special needs child have many questions. Some of these questions include: What will happen to my child when I am no longer around to care for them? Who will step in to help? What financial arrangements do I need to make to ensure their continued care? These can… Read More Planning for the Future with Special Needs Children
Estate planning is the process by which a person establishes what will happen to his or her assets during their lives and after they die. As part of that process, the term “planned giving” is sure to come up time and again. Estate planning and planned giving are intertwined in many people’s future plans, and… Read More Estate Planning and Planned Giving Explained
