Plain-spoken answers to the questions families ask us. These articles are educational material, not legal advice, and shouldn’t be relied on as legal counsel.
Many families have certain objects that they consider to be family heirlooms. Whether these items consist of expensive collections or inexpensive trinkets, many family members will place a special importance on these items. A recent article discusses several ways to avoid family feuds over important heirlooms.
Although tax planning is an area of supreme importance for business owners, it is also an area of confusion. A recent article explores some questions that financial advisors and estate planning attorneys are commonly asked by their clients.
Currently, there are many alternatives to hiring an estate planning attorney to create your estate plan. Consumers are overwhelmed with books, web sites, and software that promise to provide a complete estate plan for a fraction of the cost of hiring an attorney.
For many, asset protection is a large concern. Often, creditors who challenge asset protection maneuvers emerge successful. An article in Forbes discusses why it seems that creditor suits are often met with success. It is first important to note that, more often than not, a lawsuit will settle before it goes to trial.
With the ever-growing prevalence of social media, it is becoming important for people to create plans for their virtual afterlife. A recent article discusses four steps that people should take in order to make sure that their estate plan covers virtual assets.
When discussing your estate plan, it is important to ask any and all questions you may have. Often, when estate plans fail, it is based at least in part on a lack of understanding on the part of the creator, as well as the heirs.
One difficult question many people may ask themselves while in the process of creating their estate plan is whether they made adequate provisions to support their dependents. This question becomes more difficult as people live longer lives and enter into multiple marriages.
According to a recent article in Forbes, the field of asset protection is growing. Some business owners may be looking to protect their assets as they emerge out of the recent recession, while others may simply be attempting to put protections in place in case of a future economic downturn.
The process of settling an estate after a loved one dies is naturally confusing and emotionally trying. The confusion is often heightened for those who come to find that they have been named the executor of the deceased person’s estate.
Often, an individual retirement account (“IRA”) is a person’s largest asset. IRA accounts are a valuable tool that can be used for the purposes of supplementing one’s income during life, and providing for his or her heirs in death.
Succession planning is something that many small business owners have little time to think about. Conversations surrounding succession planning may be sensitive and awkward. However, if you want your business to outlive you, you must implement a succession plan.
People are more likely than ever to live long into old age. While improved life spans allow many to lead fuller and longer lives, the downside is that many people will live their final years with diminished mental capacity. For example, one in eight baby boomers will develop Alzheimer’s disease after they turn age 65.