Want to pass more wealth to grandchildren? An idea to consider while exemption amounts are high for estate tax and Generation Skipping Transfer (GST) tax is to protect old trusts from the application of the GST tax that can take a big portion of a trust’s assets before they pass to a skip person, like…
Many of our clients who come in to prepare or update their Will ultimately decide to include a Revocable Living Trust (RLT) in their estate plan after learning about the benefits it can provide. These benefits include privacy, avoiding or reducing probate fees and delays, and aiding in the management of their assets during periods…
“When is the right time to create an estate plan?” “Am I too young to write a Will?” “Do I have enough assets?” These are a few common questions clients ask when inquiring with our team. Simply put, regardless of age and assets, every adult benefits from having the proper estate planning techniques in place….
$22.8 Million is probably not a fair approximation of the exclusion amount couples have to protect property from the estate tax. For this to be true, both spouses would need to die before 2026. Otherwise, the language of the Internal Revenue Code appears to make clear that the survivor has at most only two times…
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…
