Most people give gifts all the time without even thinking about the potential tax ramifications. Yet technically, whenever you give something to someone, you have to follow the gift-tax rules. Fortunately, those rules don’t require you to file a gift tax return every single time someone celebrates a birthday or other special event, but it’s important […]
Read More »Want to Spare Your Kids From a Family Fortune?
From shirtsleeves to shirtsleeves in three generations, goes the early 20th-century American proverb. Then there’s the 19th-century British version: Clogs to clogs in three generations. And from Italy, date uncertain: From the stable to the stars and back again.
Read More »Why People Do Not Have Estate Plans
A recent survey reveals something that we already know: most Americans do not have estate plans. However, the survey also reveals the reason why people do not get estate plans is because they feel they lack the financial know-how to even get started.
Read More »Is the Family Business a Part of Your Estate Plan?
Family business contributes to over 70 percent of global productions, but owners of them don’t update their estate planning. It’s estimated that over 50 percent of family business owners didn’t update their estate planning documents for more than five years. Perfect and updated family planning ensures the smooth transition of a property from one generation […]
Read More »Using A Revocable Trust as the Primary Method for Disposing of Your Estate
If you haven’t considered using a revocable trust rather than a will as your main estate planning document, you could be making a critical mistake. A recent MoneyWatch article, “5 reasons you need a trust, not a will,” lists five reasons for using a revocable trust as the primary method for disposing your estate.
Read More »Estate Planning After your First Child Arrives
When young couples expect their first child, the to-do list never seems to end. From lining up in-home help to managing hectic daily schedules, the process can prove daunting. Then there’s financial planning. Financial advisors often urge parents-to-be to prepare by budgeting for the future. They might need well over $250,000 to fund a child’s […]
Read More »Would You Choose Cousin Vinny to Be the Guardian of Your Kids?
Estate planning is a key element in any financial plan no matter what your age. Estate planning allows you to decide how your assets should be distributed upon your death. In essence it allows control from the grave! And a word of advice to those under 50, dying does not just happen to old people. […]
Read More »Estate Planning for Same Sex Couples
The United States Supreme Court is considering the issue of same sex marriage. Regardless of how the case turns out, same sex couples should proceed to create estate plans. In fact, they should not wait for the Court’s decision. Many states have legalized same sex marriage, which gives same sex couples equal inheritance rights […]
Read More »San Diego Attorney Ordered to Repay Trust
When someone radically changes her estate plan to favor someone else who was not mentioned in the original plan, charges of undue influence are common. However, proving undue influence can be difficult, which makes a recent case in San Diego interesting.
Read More »The Most Important Question Parents Should Consider When Estate Planning
When planning their estates there are many different questions that parents should ask. However, the most important question is one that many parents never consider.
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