Estates, Trusts and Administration
The end of year is a busy time for many reasons. Travel plans, holiday hosting, and family visits tend to keep your calendar packed. But as a small business owner you have additional obligations that need to be addressed. The end of year is a perfect time to assess your current business, make some decisions, […]
We are often asked: “I’ve been named as Executor in my mother’s Will. What does an Executor of an estate do?” First, for terminology, an Executor in certain cases can be referred to as an Administrator, but the role is very similar so we’ll combine all the terms under Personal Representative, or “PR” for short. […]
Have you been avoiding the “uncomfortable” topic of your estate plan with your children? You want to do what is best for your children but perhaps you are legitimately concerned that your children are too young or busy, the conversation will be perceived as morbid or will not deliver the message you intend, or you […]
As estate planning attorneys, we often get the question: “Who needs an estate plan?” The answer is: “EVERYONE!” Studies have shown that only 42% of American adults currently have an estate plan in place. For the 58% of Americans who don’t have an estate plan, dealing with intestacy laws and the probate process places a […]
The passing of movie icon Burt Reynolds brings to light how certain estate planning techniques differ as they unfold. Selecting a revocable trust – versus only a Will – as Burt chose to do for the benefit of his son, Quinton, has its advantages. One that’s highlighted in the current stories about Burt’s passing is […]
Gift planning can be an important component of estate planning and, if the right techniques are executed, can reduce your overall tax burden. With this in mind, it is never too early to be thinking about gifting to your children and/or grandchildren. The annual gift tax exclusion is the most commonly used method for tax-free […]