It’s important to recognize that after a loved one passes away, no more estate planning can be done, even if you believe that the current plan is flawed. If you’re a party to administering the estate, you have to get to work pretty quickly to accomplish the tasks likely in front of you. Depending on [...]
There are new proposed regulations that will drastically affect applicants of Aid and Attendance veteran benefits. The proposed regulations that would amend 38 CFR Part 3, will require a three-year look-back period of asset and asset transfers for each pension applicant and apply strict net worth limits on the veteran and his or her spouse. [...]
These days, physicians have a lot to worry about as they grow their assets. Many, after years of residency, are plunged into a higher income bracket, but this can come with risks. Litigation, for example, can expose all those new assets of a physician to serious risk. That’s why it’s so important to take steps [...]
Lance Armstrong has done it- insulated his assets from being totally exposed to creditors. But there are reasons that other people outside of public figures should considering doing the same. While it’s very difficult to imagine all of your money being entirely protected from creditors, there are steps you can take to protect yourself with [...]
Trust planning can be complex, which is why it should always be handled by an experienced estate lawyer. Depending on the type of trust you choose, there are many benefits you can reap from choosing this kind of tool. More and more, however, individuals are considering putting verbiage inside their trusts to have a spouse [...]
Putting your estate plan together and getting important questions answered is not something that should be underestimated. Selecting the professional that is right for your needs is important because you’re likely to form a long-term relationship with such an individual. Whether it’s simply good planning sense or the rash of celebrity estate planning faux pas [...]
The month of February, we have been dedicating our blog to Veterans. There are several government benefits that veterans are eligible to receive, though it can be hard to know where to start. You can check out this month’s previous posts on the minimum qualifications to receive benefits, what different kinds of benefits are available, [...]
Most people recognize the value of doing it, but it’s either so difficult to work into their frame of mind or it’s something that seems so far off that estate planning tends to get skipped over. As a bottom line, most people don’t want to think about dying. It’s a sobering topic, and it’s also [...]
There’s no doubt that it can be a real challenge for business owners to talk about succession planning. For some, it’s because their drive and entrepreneurial vision contributed so much to the success of the enterprise. For others, it’s because they can’t imagine taking a step back from the business. And for others, it has [...]
It’s tax time again, and trustees and executors involved in portfolios with real estate as well as businesses holding property should be aware of the new regulations linked to tangible property. Although these new regulations are complicated, they can be an important tool for reducing 2014 tax liability with the right planning. These tangible property [...]
