Tag Archives: estate planning
What’s the Difference Between a Healthcare Surrogate Designation and a Living Will?
A healthcare surrogate designation and a living will are two different kinds of advance directives you can include in your estate plan. But while the functions they serve are similar in a sense, the ways they operate are quite different. The following is an overview of each to give you an idea of what they […]
Challenging a Will Comes with Certain Risks
Can you challenge the will of a recently deceased person? The answer might be yes, but even when it is a viable path forward, you should be aware that there are certain risks that come with doing so. To challenge a will, you must show that there is something wrong with the will itself or […]
Important Tips for Including Stepchildren in Your Will
Unless you have legally adopted them, your stepchildren do not have any legal right to an inheritance from you. Therefore, to make sure your stepchildren inherit part of your estate, you should name them in your will or trust documents. Below you will find some information about how you can manage your stepchildren and their […]
Can Unmarried Couples Engage in Estate Planning?
Estate planning for couples is not limited to those who are legally married. If you have a partner with whom you are very close, you should still prioritize estate planning to ensure he or she inherits your possessions after your death. Otherwise, if you pass away without a valid will, the state’s laws will dictate […]
Tax Reform Comes with Changes to Estate, Gift Taxes
The major changes to the tax code brought about by the Tax Cuts and Jobs Act of 2017 will have a significant impact on how people with a high net worth will plan their estates. Under the new law, the estate tax exemption is doubled to approximately $11.2 million for individuals and $22.4 million for […]
Put All Your Funeral Wishes in Writing in Your Estate Plan
One of your estate planning goals should be to make matters as easy as possible on your surviving family members when administering your estate. Although it’s never pleasant to think about your own funeral and your wishes for the service and your burial, having a clear plan in writing long before you pass away can […]
Planning Your Estate After Being Diagnosed with Dementia
When you receive a dementia diagnosis, getting your estate plan in order may the last thing on your mind. However, it’s something you need to take care of while you still have the capacity to do so. Dementia leads to the deterioration of cognitive function. As the baby boomer generation reaches old age, the number […]
Assets Millennials Must Consider When Estate Planning
Millennials are, in part, known for their financial consciousness. The people who make up this generation tend to be more careful with their money and property, likely as a result of coming to age during and immediately following the Great Recession. Plus, being overburdened by student loans has forced many Millennials to be as frugal […]
Reconstructing Your Records and Estate Plan After a Hurricane
If you are one of the many people throughout Florida who have been affected by the destruction of Hurricane Irma, it’s important to take the time to get your records and estate plan back in order. For example, you might need tax records to prove your losses, or you could need to write a new […]
Why a Will is Important for Business Owners
While just about anyone can benefit from creating a last will and testament, this process is especially important if you are a business owner. Your will allows you to state your desires in a legally binding way regarding who you want to inherit your assets. If you do not leave behind a will, state law […]