In the event you lose your house in a natural disaster or through another calamity, it is important that your estate planning and other important documents are beyond reach and easily [...]
You aren't technically required to hire a lawyer to draft a will, but failing to do so could lead to costly problems for your family and other heirs.
For a variety of reasons, people sometimes want some or all of their assets to pass directly to specific individuals upon their deaths, outside of probate. POD and TOD accounts are one way to [...]
When interest rates are low, intrafamily loans can be a good way to assist children with purchasing a house or a family business, and in certain circumstances they can be used to gift money to [...]
When you need someone else to care for money or property on your behalf, that person (or organization) is called a fiduciary.
Marriage is supposed to be “until death do us part,” but after one spouse dies, is it possible to have the marriage annulled? It can be done, but only in certain circumstances.
A number of tax proposals being considered in Congress could significantly affect gifting and estate plans for people with with larger estates -- over $3.5 million.
It is important to get any agreements about inheritance in writing. Providing services to someone does not automatically entitle you to a portion of their estate.
When a person declares bankruptcy, an individual retirement account (IRA) is one of the assets that is beyond the reach of creditors, but what about an IRA that has been inherited?
Being asked to serve as the trustee of the trust of a family member is a great honor. But being a trustee is also a heavy responsibility. Here are six questions to ask before saying "yes."
While the current estate tax exemption is quite high, a closely held family business may put your estate over the limit. Careful planning is necessary to lower or completely avoid the tax, and [...]
Most people want to pass their assets to their children or grandchildren, but naming a minor as a beneficiary can have unintended consequences. It is important to make a plan that doesn’t [...]
Do you have a will? A durable power of attorney? A health care proxy? If not, why not? Failure to create an estate plan risks causing discord in your family for generations to come.
More and more of the music, movies, and books we own exist only online, in digital form. What happens to these collections after the owner's death? You may be surprised at the answer.
Directed trusts can be a useful estate planning tool, allowing you to place your family’s assets in a trust but benefit from the expertise of an advisor who knows more about the handling of [...]
Passing assets to your grandchildren can be a great way to ensure their future is provided for, and a generation-skipping trust can help you accomplish this goal while reducing estate taxes [...]
Parents of 2020 seniors and parents of young adults should listen to this podcast so their child is prepared in the event of an unforeseen emergency or crisis.
When you’re planning your estate, among other things, you decide who should inherit your assets. You choose your beneficiaries, typically your children, grandchildren, or other close relatives. [...]
A Special Needs Trust is tailored to help a beneficiary with special needs receive an inheritance without jeopardizing their current or future public needs-tested benefits, such as Medicaid or [...]
The second way which is the topic in this article is a fully discretionary trust, often called an “Asset Protection” Trust or a “Sentry” Trust.
Maybe you grew up without much. You worked hard. You earned a good education. You succeeded in life even though the streets weren’t paved with gold where you grew up. Maybe you even grew up in a [...]
We here at Ergood Law feel that it is important to have the right protection in place so you can always help your child.
Beneficiary designations and other non-probate transfers are an often-overlooked part of estate planning. They are overlooked by clients and sometimes even by professionals.
People are living longer and are having children later in life. Due to this combination of demographic factors, many more people are in the “Sandwich Generation.”
It’s important to consider whom you’d want to get your assets when you die. Most of us have an idea of whom we’d choose. But, it’s also important to consider who should get those assets if your [...]
Estate Planning is critical to making sure your wishes are carried out. This series focuses on how an Estate Plan could be challenged. This series will show the importance of doing Estate [...]
Some people plan their estates carefully. Some people don’t have an estate plan at all. That’s called dying intestate. In that situation, the state in which they live at their death has a default [...]
Often, the smallest things have the most sentimental value. Your grandmother’s silverware or your grandfather’s railroad watch could connect you to them in a special way. Your mother’s ring or [...]
Written by Attorneys for the American Academy of Estate Planning Attorneys A Secret Agent may be very important to protecting the nation. Your Agent is just as important for your protection. An [...]
Article written by the American Academy of Estate Planning Attorneys The new tax law doubled the amount that can be passed free of federal estate taxation, at least through 2025. In 2018, [...]
Often, people think estate planning is just for those who are elderly. While the elderly certainly need estate planning, estate planning is for anyone who cares what happens to them, their stuff, [...]
There are many good reasons to use trusts. Trusts avoid the probate process, which is a public process to change title of assets from the deceased person to the new recipient. Trusts may be [...]
