Estate Planning Articles
Some of these articles have been written by our law firm and other articles are written by the American Academy of Estate Planning Attorneys and compliments of our law firm. Any feedback or questions about the articles can be addressed by contacting our office.
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.
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!
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.
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.
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.
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.
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.
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?
Odds are many of us have heard of the federal gift tax; however it’s not something most Americans face and here’s why.