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.
A Roth IRA has some important distinctions from a traditional IRA, and, depending on your tax bracket, your retirement needs, and your estate planning goals, a Roth could be a better choice for you. So, what’s the difference between the two types of IRAs? This article explores how each IRA works and which option can best fit your personal needs and goals.
An alarming 55% of American’s don’t have an estate plan in place. Procrastination is a common excuse. However, for many people it’s a lack of knowledge about estate planning, including the benefits, their options and the protections it offers them and their families. This article reviews 10 essential estate planning facts that will arm with you with enough knowledge to cross estate planning off your “to do” list.
Picture this Youre at the end of your long, fulfilling life and youre ready to say goodbye to your loved ones and leave this world in peace. And then your family declares war on each other. This scenario plays out all too often even in the closest of families. This article examines helpful ways to plan and avoid divisive family disputes after you are gone.
As a child, your parents were there to guide and support you as you faced lifes challenges and obstacles in your path growing up. Similarly, as your parents age, and become less independent, they will rely on you as they face new challenges in their twilight years. This article examines how planning well in advance is important to ensure that no matter what lies ahead, their care and financial affairs will be looked after. Regardless of their financial means, if they are wealthy or of more modest means, there is a plan that can meet the specific needs of your family.
At some point in our lives, we all dream of receiving an inheritance. We envision buying a new car, finally being able to afford private schools for the kids, or maybe even taking a trip around the world. But the reality of inheriting money or property often differs from our dreams. The process of settling an estate and distributing a deceased persons assets can be time consuming. During this process you may have questions about taxes on various types of assets you may be inheriting, such as IRAs, valuable collectibles, and other property. This article provides a summary on what you can expect during this process if youre anticipating an inheritance.
According to data collected in the 2010 census, 4.9 million children under age eighteen live in grandparent-headed households. If you are in this growing number of grandparents returning to your parent role again, one of the pressing responsibilities that accompany your job as caregiver is to make sure you have a plan for your grandchildren in the event that something happens to you. And because youre older now than you were the first time around, planning becomes even more important. This article reviews why it is imperative to have an estate plan in place and what a basic plan should include.
The term “estate planning” usually calls to mind the process of creating a Will, establishing a Living Trust, or naming a guardian for young children. One piece of the estate planning puzzle that might not be readily apparent, though, is insurance. Learn how insurance in its many forms plays an important role in the estate planning process.
It’s not something we often stop to think about, but attorneys experience life changes like anyone else. They may change careers or experience an illness or disability, or they may retire or even pass away. This article discusses the steps you should take if your estate planning lawyer no longer practices law.
Increasingly, pet owners are not just worried about providing for our pets during our lifetimes, we want to ensure that they get all the love and care they need after were gone, too. This article discusses the estate planning benefits a Pet Trust can provide for your furry and feathered animal companions.
When you are planning your estate, it is important to remember that circumstances rarely stay the same over long periods of time. A plan that worked for your family when the kids were little may very well be obsolete by the time they’ve started families of their own. This is why it’s important to ensure that you build flexibility into your plan.