Estate Planning Articles

When Roles Reverse and Your Parents Need Your Help

The aging process can be difficult for those who witness it, and when it comes to our parents, we see it evolve first-hand as they come to rely on us for their needs over the years. What can we do now to make sure they’re better prepared for the future?

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How a Pet Trust Can Protect Your Furry Friends

Many of us think of our pets as family members, but we don’t always think through who will care for our beloved animals after we die. Did you know that you can and should include your pet in your estate plan? Here are some simple options for making sure your pet lives a happy and healthy life, even after you’re gone.

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Women and Estate Planning – Debunking the Myths

Not long ago, women rarely took much interest in estate planning for several reasons. Today, however, the need for estate planning is even greater if you are a woman. Debunking some of the common myths surrounding the concept of women and estate planning is a good place to start.

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The Importance of Advanced Directives – The Terri Schiavo Story

Terri Schiavo spent over ten years in a persistent vegetative state following a heart attack. During that time, her husband and parents waged an emotionally and financially draining legal battle that made it all the way to the President’s desk. It all could have been avoided had Terri executed an advance directive prior to her collapse back in 1990.

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Fair Does Not Always Mean Equal: Avoiding Conflict in Inheritances

As parents, one of the challenges we face is ensuring our children feel as though they’re treated fairly and loved equally. What many may not realize, however, is that sometimes accomplishing this doesn’t include equal divisions, especially after they’ve reached adulthood. This is also sometimes the case with Estate Planning. While it’s designed to efficiently distribute your assets after your death, it’s also meant to see your final wishes implemented. The challenge is making sure your children understand that after assessing the dynamics and factors associated with your family and the needs of each family member, your final wishes may appear to be unfair, even though your goal was always to address the needs of each child versus the collective family.

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What’s the Big Deal about Probate Avoidance?

You may have heard friends and family members discussing the need to avoid probate; however, you may not understand why avoiding probate is so important. Now is the time to learn more about probate avoidance so you have plenty of time to start including appropriate strategies in your estate plan.

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What You Need to Know about Asset Protection

You likely worked hard, saved wisely, and invested prudently to acquire the assets you now have. Now, all you need to do is to protect those assets. To accomplish that goal, you need to understand how and why your assets might be at risk as well as learn more about asset protection tools and strategies.

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Will Baby Boomers Have Anything Left to Pass Down?

The Baby Boomers are reaching retirement. Some of them are financially ready for retirement; however, many are not. Even more have failed to plan their estate. No one likes to dwell on their own mortality, but failing to plan for it can have a significant financial impact on the next generation.

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How Likely Is That To Happen?

Don’t leave your future, your children’s, or your estate’s future up to chance. Learn about the odds of incapacitation and death, and how a comprehensive estate plan can tip the balance in your favor.

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Passing Down the Family Farm or Ranch

Your farm or ranch has been in your family for generations. Are there obstacles which may prevent a smooth transition of values and assets to the next generation? If so, how can an effective estate plan can help you overcome those obstacles?

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How to Lend a Hand and Save Taxes

While you may not be able to physically lend a hand, one of the ways you can help a cause at home or overseas is through gifting. However, choosing to donate to a reputable charity or foundation is just the first decision. Find out more about charitable gift giving, including how to structure your gifts in such a way that not only helps you save taxes but allows you to provide for your loved ones and contribute to a greater cause.

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Is a Health Savings Account (HSA) Right for You?

While the American health care system has undergone major changes in recent years, the potential to save money and taxes through a Health Savings Account (HSA) has not changed. Find out whether you’re eligible to get started with an HSA, and how an HSA can be an excellent tax saving vehicle that provides the benefits of both a traditional IRA and a Roth IRA all-in-one!

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I was Appointed Trustee of a Trust. Now What Do I Do?

Did you just find out you are the Trustee of a Trust? If so, you are probably feeling honored, and maybe a bit intimidated if this is your first time acting as a Trustee. In this article, find out what a Trustee’s role is within the Trust as well as the duties and responsibilities of a Trustee.

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Is Purchasing Long-Term Care Insurance a Good Idea?

Is a long-term care insurance policy a wise addition to your estate plan? Ask yourself if you can afford to pay over $200,000 out-of-pocket for long-term care. If not, you may want to consider purchasing long-term care insurance because that’s what the average stay in a facility will cost you; however, don’t sign on the dotted line until you understand how long-term care (“LTC”) insurance works.

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Do You Know Who Your Designated Beneficiaries Are?

Who are your designated beneficiaries? Not sure? If so, you are not alone; it’s not uncommon to select designated beneficiaries without considering your overall estate plan. However, the failure to coordinate them could wreak havoc on your overall estate. Read on to learn how.

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The Hidden Benefits of Home Ownership

Do you know what your home’s value is? Not just the home’s market value, but all the myriad of ways you can benefit from being a home owner? Though you may not realize it, the benefits of home ownership go far beyond the value of the equity you have in the home.

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U.S. Gift and Estate Tax for Non-Citizens – What You Need to Know

If you are a nonresident alien, or you are married to someone who is, estate planning can be more complicated to navigate, and more important. Failing to plan ahead could even result in the loss of much of your estate assets to federal gift and estate taxes.

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Understanding the Federal Gift Tax and its Implications

Odds are many of us have heard of the federal gift tax; however it’s not something most Americans face and here’s why.

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