Estate planning often focuses on taxes at the federal level and often overlooks issues that occur at the state level. For anyone desiring to undertake comprehensive estate planning, it’s important to understand the impact that the taxes imposed by the individual’s state of residence have on the plan as well as the character and type of assets allowed by the state. Estate Planning is complex and requires an expert in these matters to advise clients properly. Read on to learn more.
Estate Planning
What Bruce Willis Can Teach Us About Incapacity Planning
When Bruce Willis announced his retirement from acting because of aphasia, it sent shockwaves through Hollywood and across the country. Just a few weeks ago, Bruce’s family indicated that the disease had progressed to frontotemporal dementia highlighting the importance of incapacity planning. While Estate Planning typically focuses on planning for what happens at death, a comprehensive Estate Plan includes provisions regarding what happens during life should an individual become incapacitated. Read on to learn more.
National Healthcare Decisions Day: Why Having a Healthcare Directive is Crucial
April 16th is National Healthcare Decisions Day (NHDD), and is a reminder of the importance of healthcare planning and the need for an advance healthcare directive. Planning ahead and communicating our healthcare preferences allows us to take control of our healthcare needs and ensure that our wishes are honored, even in end-of-life care.
[Read more…] about National Healthcare Decisions Day: Why Having a Healthcare Directive is CrucialPlanning Your Virtual Afterlife: What Happens to Your Social Media Accounts After You’re Gone?
In today’s digital age, our lives are increasingly lived online. We share our thoughts, photos, and experiences with friends and followers on social media platforms like Facebook, Twitter, and Instagram. But what happens to these accounts after we pass away? Do they simply disappear, or do they live on forever?
In this blog post, we’ll explore the topic of virtual afterlife and what you can do to plan for the future of your social media accounts.
[Read more…] about Planning Your Virtual Afterlife: What Happens to Your Social Media Accounts After You’re Gone?What Happens When You Don’t Trust Your Trustee – Part I
Trusts have become ubiquitous parts of estate plans. Many Estate Plans use revocable trusts as the foundation for the plan while others include irrevocable trusts. Regardless of the planning reason, every trust needs a trustee. The grantor may name the beneficiary as trustee, or the grantor may name another individual or entity as trustee, creating a natural tension between the beneficiary and trustee. If the tension becomes too great, the beneficiary may seek to have the trustee removed. As expected, the avenues for removal depend upon the trust instrument itself, as well as any statutory remedies available. Read on to learn more.
