Category Archives: Estate Planning
Will Capital Gains Taxes Apply to Inheritances?
Upon your death, there may be some federal estate taxes that apply to your assets. Estate taxes only affect a fraction of estates, as the threshold for federal estate taxes is quite high. But you might be wondering whether your loved one’s inheritance could be subject to a capital gains tax as well. Here’s a […]
The Role Your Personal Representative Plays
When you create a will, you need to nominate a personal representative of your estate, who will be tasked with carrying out your wishes. Some of the tasks that personal representative will take on include: Locating assets: Your personal representative will need to locate all of your assets. This includes accessing various digital accounts and […]
The Pandemic Resulted in More People Creating Wills
Numerous reports have indicated the spread of the COVID-19 pandemic throughout the last year encouraged more people to create a will. One study conducted by LegalZoom found 32 percent of people between the ages of 18 to 34 got a will during the pandemic. Twenty-one percent of those people who had a will made did […]
Recent Trends and Issues in Estate Planning
If you’ve already developed an estate plan, that’s great! Hopefully that means you’ve given your assets and your beneficiaries some protections that are needed if you are to distribute your estate in the manner you wish. However, it’s still important to review and revise your estate plan every now and then. Not only might your […]
Tips for Choosing the Right Place to Retire
It’s never too soon to start planning for your retirement or for engaging in estate planning. In fact, a lot of retirement and estate planning goes hand in hand. If you plan to retire in a new state, you should revisit your estate plan with an attorney licensed to practice law in the state you […]
How to Prevent Your Heirs from Blowing Their Inheritance
An important part of estate planning is determining how you will pass down your assets to your children and grandchildren. In some cases, you might have some concerns about how you can do this in a way that will prevent them from blowing all of the money at once. Here are some tips to help […]
What to Ask Your Potential Estate Planning Lawyer
As you begin the estate planning process, you’ll need to find an experienced attorney to manage your case and help you develop all of the necessary documents. Here’s an overview of some of the questions you should ask potential lawyers to determine if they’re going to be a good fit for what you need. How […]
Tips for Managing Your Money When You’re Retired
Part of estate planning is setting yourself up for long-term stability with your finances so you can distribute your assets to your loved ones as you wish. Here is a quick overview of some helpful tips for managing your money in retirement. Continue to create income in retirement: This doesn’t necessarily mean you need to […]
How to Store Your Estate Planning Documents
Once you’ve created your estate plan, it’s important to keep the original documents somewhere safe. Having digital backups is always a good idea, but the originals are important to have and should be located somewhere safe and accessible. Here are a few ideas for some potential storage locations. Safe deposit box: While a safe deposit […]
Common Estate Planning Myths and the Truths Behind Them
There are a number of misconceptions that exist about the estate planning process. People who have not talked to an attorney about planning their estate may be under false impressions about what the process involves, or whether it’s truly worthwhile. Here are a few examples of some common estate planning myths and the truths behind […]