Category Archives: Estate Planning
How to Minimize Estate Taxes Through Charitable Donations
If you would like to leave behind a positive legacy and reduce or eliminate the taxes your estate owes after you pass away, making a contribution to a charitable organization or cause is a great way to do just that. The following are a few tips to help you minimize your estate taxes through charitable […]
Common Estate Planning Tools That Protect Your Wealth
No two estates are exactly the same, and so the approach you take with your estate planning efforts may depend on a number of factors. However, there are many elements common to nearly all estate plans. Your overall goal is to maintain control over your assets and property — and how you want them distributed […]
How Does Intestate Succession Work?
Although it’s beneficial to create a will to outline what you wish to have happen to your estate and assets, it is not a legal requirement anywhere in the United States. If you pass away without a will, your property will be subject to the laws of intestate succession. This also comes into play if […]
General Versus Limited Power of Attorney
A power of attorney gives another person — commonly referred to as an attorney-in-fact — the ability to act and make certain decisions for you when you are unable to do so yourself. These powers may be limited to specific types of actions, or they may cover a wide range of issues. The type of […]
How to Become an Organ Donor
There are tens of thousands of people on organ waiting lists across the country, and organs received from deceased donors save lives every single day. Although it might not necessarily be comfortable to think of your organs being taken after your death to be transplanted, the decision to become an organ donor could be one […]
Managing Digital Assets in Your Estate Plan
Digital assets, just like physical assets, need to be accounted for as you develop your estate plan. You should always have a full inventory of all of your online assets and make sure someone knows about them ahead of time. Digital assets can be just about anything, including the following: Online bank or stock trading […]
How to Protect Against Challenges to Financial Power of Attorney
If for any reason you think there is a chance someone will challenge your financial power of attorney by claiming you were coerced into signing it, there are several steps you can take to affirm your decision. We encourage you to consider the following: Speak with an attorney: Make sure you review your financial power […]
The Different Types of Memorial Services Available
As you go through the estate planning process, you will eventually need to determine what sort of funeral and memorial plans you want to arrange for yourself. This is not always the easiest subject to approach for people, as it can seem rather morbid. However, the more you are able to arrange before your death, […]
What Happens to Your Bank Accounts When You Pass Away?
The way you pass on the assets in your bank accounts depends mostly on how these accounts were owned. This is important information to understand as you plan for the future of your estate. Individual accounts Accounts you owned by yourself may or may not have a pay on death (POD) beneficiary. If your account […]
Understanding the Concept of ‘Undue Influence’ in Creating a Will
When family members are blindsided by the contents of an individual’s will, they may begin to suspect there was undue influence on the testator. Perhaps they did not receive the inheritance they expected, or maybe someone else received an unusually large inheritance — someone who was not family and did not seem to be particularly […]