People are living longer and longer than they used to. While that is a great thing, it is beginning to cause issues for many estate plans, especially when trusts are involved.
Read More »Who Gets What?
The murkiest part of estate planning is discussing when and how to distribute your assets to your heirs. This process requires a series of considerations and trade-offs to avoid emotion-laden family problems… when it comes to these issues, things get gray because emotional factors drive decisions now. There is no correct answer on how to […]
Read More »Keep Up Financially with the Changing Seasons
As the summer comes to an end and we head into the fall, a parallel can be drawn between the seasons of weather and the seasons of money. Just as you have spring, summer, fall and winter, there are four financial seasons of life that include accumulation, preservation, distribution and succession. Approaching your finances with […]
Read More »Estate Planning Is No Saturday Morning Project!
Americans, by and large, are do-it-yourselfers. Information abounds to help us tackle all kinds of situations — including estate planning. However, it might be best to use caution when considering preparing your own will and other estate planning documents.
Read More »Over 70% of Elvis Presley’s Estate Paid in Taxes & Fees: How Can You Avoid the Same Trap?
Did you know that the legendary singer and actor, Elvis Presley, earned over a billion dollars throughout his somewhat short career? That’s billion – with a B. However, when the “King of Rock & Roll” died in 1977, his estate’s net worth was only $10 million. Of that, over 70% went to pay taxes and […]
Read More »Ensuring Income Tax Deferral for Retirement Plan Beneficiaries
Some of the most generous provisions of the tax code are those that permit beneficiaries of IRAs and other qualified retirement plans to defer income tax on the plans until time of withdrawal. This allows the IRA or qualified plan to grow significantly more than if it were subject to tax on gains each year.
Read More »How to Choose the Right Agent for Your Incapacity Plan
A common misconception is that estate planning equates to death planning. But planning for what happens after you die is only one piece of the estate planning puzzle. It is just as important to make a plan for what happens if you become mentally incapacitated.
Read More »Wrongful Death Settlement Talks Can Now Proceed in DuBose Case
The aftermath of a high-profile police shooting incident in Cincinnati illustrates a central tenet of estate law when a person passes away without an estate plan. The death of Sam DuBose received massive media attention and sparked national outrage. In July, DuBose was shot and killed by a University of Cincinnati police officer as […]
Read More »Estate Planning Options for Your Pets
Increasingly people are making provisions in their estate plans for their pets. If you would like to do the same, then you have a few options for how to do it. In the past people gave little thought to what might happen to their pets after they passed away. It certainly was not common to provide […]
Read More »Even Vampires Need Estate Planning
Yes, even the undead need an estate plan. After you stop laughing you need to hear me out. As we’ve learned from the likes of The Vampire Chronicles, the Twilight saga, and HBO’s True Blood, vampires aren’t immortal. They do die, and it’s usually unexpected and messy.
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