Recent News & Blog / Estate Planning
Unleash the Power of a Nonspringing Power of Attorney
Estate planning typically focuses on what happens to your children and your assets when you die. But it’s equally important to have a plan for making critical financial and medical decisions if you’re unable to make those decisions yourself.
Should You Name a Trust as IRA Beneficiary?
An IRA is a popular vehicle to save for retirement, and it can also be a powerful estate planning tool. Some people designate a trust as beneficiary of their IRAs, but is that a good idea? The answer: possibly.
Review and Revise Your Estate Plan to Reflect Life Changes During the Past Year
Your estate plan shouldn’t be a static document. It needs to change as your life changes. Year end is the perfect time to check whether any life events have taken place in the past 12 months or so that affect your estate plan.
Intellectual Property Requires Careful Estate Planning
If your estate includes forms of intellectual property (IP), such as patents and copyrights, it’s important to know how to address them in your estate plan. Although these intangible assets can have great value, in many ways they’re treated differently from other property types.
Tenancy-in-Common: A Versatile Estate Planning Tool
If you hold significant real estate investments, tenancy-in-common (TIC) ownership can be a powerful, versatile estate planning tool. A TIC interest is an undivided fractional interest in property. The property isn’t split into separate parcels.
Turn Down an Inheritance Using a Qualified Disclaimer
If you are about to receive an inheritance from a family member, you can use a qualified disclaimer to refuse the bequest. The assets will then bypass your estate and go directly to the next beneficiary in line.
Get Serious with an Educational Assistance Program
Most employers probably know that reimbursements and direct payments of job-related education costs are excludable from workers’ wages as a working condition fringe benefit. Maybe you’ve offered such a benefit in the past and it’s worked out well for everyone.
Educate Your Children on Wealth Management
If you’ve worked a lifetime to build a large estate, you undoubtedly would like to leave a lasting legacy to your children and future generations. Educating your children about saving, investing and other money management skills can help keep your legacy alive.
The Pros and Cons of a SCIN
Many estate planning techniques are intended to minimize or even eliminate gift and estate taxes when transferring assets to family members. Sometimes, the most powerful techniques also have a significant drawback: mortality risk.
Fortify Your Estate Plan Against Undue Influence Claims
Of course, you expect the declarations in your will to be carried out, as required by law. Usually, that’s exactly what happens with wills.