Recent News & Blog / Estate Planning
Creating a Will? Don’t Forget to Include a Residuary Clause
When creating a will, most people focus on the big-ticket items, like who gets the house, the car, and specific family heirlooms. However, one element that’s often overlooked is the residuary clause.
Beware the pitfalls of DIY estate planning
A do-it-yourself (DIY) estate plan may seem appealing to those who feel confident managing their own affairs and want to save money.
Does your estate plan include a financial power of attorney?
Your estate planning goals likely revolve around your family, including both current and future generations. However, you shouldn’t forget to consider yourself if your plan. What if you become incapacitated and are unable to make financial decisions?
Feeling charitable? Be sure you can substantiate your gifts
As the end of the year approaches, many people give more thought to supporting their favorite charities. If you’re inclined to give charitably and you itemize deductions, you may be entitled to deduct your charitable donations.
Don’t let beneficiary designations thwart your estate plan
For many individuals, certain assets bypass their wills or trusts and are transferred directly to loved ones through beneficiary designations.
Intrafamily loans must be handled with care
Is one of your top estate planning goals to provide your family with financial security at the lowest tax cost?
A quiet trust has its benefits, but an incentive trust may be a better option
When it comes to estate planning, one of the more nuanced tools available is a quiet trust (also known as a “silent” trust).
Is a custodial account right for your family?
If you’re considering opening an investment account for your minor child or grandchild to help him or her save for the future, a custodial account can be a useful option.
A family business owner needs both an estate plan and a succession plan
For family business owners, an estate plan and a succession plan often work in tandem, ensuring that both personal and business affairs transition smoothly.
If you’re asked to be an executor, be sure you’re up to the task
Make no mistake, serving as an executor (or a “personal representative” in some states) is an honor. But the title also includes significant responsibilities.