Is Your Estate Plan Ready for Sunsetting Tax Cuts in 2026?
The sweeping tax overhaul enacted in 2017, known as the Tax Cuts and Jobs Act (TCJA), provided a number of income and estate tax reductions and changes.
What Does the Executor of an Estate Do?
Dealing with death is never easy and overseeing the estate can be complicated. However, staying organized can help you manage things smoothly.
Advance Directives and Importance of Advance Care Planning
Navigating the world of medical decisions, especially end-of-life care, can be challenging. The term advance directive holds immense importance in this domain. This article delves into the concept of advance care planning and the significance of advance directive forms. What Is an Advance Directive? An advance directive is a legal document expressing your wishes regarding the care you want in case you cannot make decisions for yourself. Advance directives are legal documents that ensure that health care professionals and loved ones know your preferences about medical treatment should you become incapacitated. Why Should You Make an Advance Directive? An advance…
Top Tips for Estate Planning
There’s a lot to keep up with when estate planning. These tips could help, from updating beneficiaries after changing your plan to understanding will-substitute options, like transfer on death.
Problems Created by Adding Adult Children as Joint Owners
You’ve likely heard your friends or family—or even the bank teller, at times—counsel you to add an adult child to your bank account.
Do Heirs Pay Credit Card Debt?
It’s a morbid yet common worry: What happens to credit card debt when you die?
Should You Gift Kids Inheritance Now, or After You’ve Died?
Are you better off giving money to children now when you can see the results or doing it through your estate after shuffling off this mortal coil?
Why You Should Put Your House in a Trust
Putting a home into a trust has several benefits, from avoiding the lengthy probate process to providing potential tax advantages. This article discusses some of the intricacies of trusts and the importance of consulting with an experienced estate planning attorney. What Is a Trust and Why Is It Important? A trust is a legal arrangement where one person (the grantor) transfers ownership of their assets, like a house, to a trustee. The trustee holds and manages these assets on behalf of the named beneficiaries. One main benefit of putting property in a trust is to avoid probate, which can be…
Durable Power of Attorney and Health Care Directives
Navigating the world of estate planning can be daunting, especially when it comes to understanding the intricacies of the durable power of attorney. This article delves deep into the world of durable power of attorney, its types and its significance in health care and financial matters. By the end, you’ll be equipped with the knowledge to make informed decisions about your future and the well-being of your loved ones. What Is a Durable Power of Attorney? A durable power of attorney (DPOA) is a legal document that allows you to appoint someone you trust to make decisions on your behalf…
When to Update Your Will and Revocable Trust: 8 Reasons You May Need to Revisit Your Estate Plan
Updating your will is not just a one-time event. It’s an ongoing process that ensures your estate plan remains relevant and effective. In this article, we’ll delve into the times when you should update your last will and testament and the reasons that can make it necessary. Therefore, if you’re someone who can make a difference through charity or simply want to ensure that your estate planning documents are up-to-date, read on! Why Should You Update Your Will? Your will is a reflection of your wishes at a particular point in time. However, as life evolves, so might your desires…
