Estate Planning Misconceptions

Tag Archives: estate planning

Estate Planning Misconceptions

It’s time to create an estate plan—but how should you distribute your assets? These common estate planning myths and misconceptions can scare off would-be testators. While working with an estate planning attorney is the best way to ensure your estate is divided and distributed according to your wishes, understanding the truths behind these misconceptions can […]

How Joint Tenancy And Your Estate Plan

Owning property as joint tenants with rights of survivorship is a popular way to avoid probate—but it will also affect how you distribute assets under your will and overall estate plan. Because joint tenancy with rights of survivorship allows property to pass to the other joint tenant automatically, title holders should avoid conflicting instructions in their […]

Estate Planning After a First Marriage

Going through a divorce or getting remarried, especially if you are creating a blended family, can complicate your estate plan. If you want to protect your children’s inheritance, you may need to update your estate plan. Here are some factors to consider: Wills:Whether you are getting remarried or newly single, you should update your will […]

Why Life Insurance is a Smart Estate Planning Tool

Estate planning usually involves a lot of moving parts. From protecting your assets to providing for loved ones and avoiding probate, there are plenty of tools available to accomplish your goals. Investing in life insurance can be a smart estate planning choice. Life insurance can help avoid probate Life insurance proceeds typically do not go […]

Top Mistakes to Avoid When Making Gifts

A smart estate plan strategically avoids taxation whenever possible. If your estate exceeds the federal estate tax threshold (currently over $12 million), making gifts before your death, if done properly, could lower your federal estate value and avoid taxation. Unfortunately, some gifts trigger IRS scrutiny—even if you are not trying to avoid the estate or […]

Estate Planning Tips for Unmarried Couples

In 2015, the landmark opinion of Obergefell v. Hodges provided for the legalization of same-sex marriage in all 50 states. This Supreme Court decision impacted many areas of law, such as divorce and family law and probate. Today, estate planning for married LGBT couples is essentially the same as for any other married couple. But […]

How COVID-19 Affected Estate Planning in America

The COVID-19 pandemic has had a significant impact on the lives of people around the world. One effect of the pandemic, however, has led people to take a greater interest in estate planning so they can provide for their spouse or children. Here are a few specific examples of how COVID-19 has impacted estate planning […]

You May Need to Change Your Estate Plan As Your Children Grow

Many people first consider estate planning once they have their first child. It is great to take the initiative to develop an estate plan once you have heirs to consider. However, it is equally important to make sure you update your estate plan as your children age and your own needs change. When your children […]

What You Should Know About DNR Orders

A Do Not Resuscitate (DNR) order is used to instruct care providers who receive a patient not to perform cardiopulmonary resuscitation (CPR) or various other life-saving procedures to restart a heart or breathing. Examples include external chest compressions, mouth-to-mouth resuscitation, electric shock, heart injections and various other CPR methods. These orders are typically established by […]

Tips for Deciding What to Do With Your Digital Assets

We are living much more of our lives in the digital world than ever before. This means by the time you die, you will have likely amassed a collection of digital assets. Like other types of assets, you can control what happens to them with your estate plan. If you care about these digital assets, […]