How Your Clients Can Protect Their Legacy from a Beneficiary’s Lead Foot Secure Your Client's Legacy By Taking The Following Steps Your clients have worked hard their whole lives and are proud to be able to leave a significant legacy to their beneficiaries. But imagine this: A $250,000 brokerage account your client diligently built up [...]
Harmless Error Statute — A Saving Grace What Is The Harmless Error Rule & When Does It Apply? When somebody dies without a legally recognized will, their money and property are typically subject to default state rules that determine who will receive it. To assert control over who will receive their money and property and [...]
Handling S Corporation Interests In Estate Planning: Electing Small Business Trusts & Qualified Subchapter S Trusts Trusts Types You Need To Know When You Have a S Corporation One of the many challenges of owning a small business is determining the appropriate tax classification of the business. When an individual owns a business entity that [...]
Top Four Estate Planning Questions to Answer When Using Assisted Reproductive Technology All You Need To Know About Estate Planning For Your Child Welcoming a child into the family is a major milestone in every parent’s life, especially if you have utilized assisted reproductive technology (ART). With this blessing comes the need for comprehensive financial [...]
Things To Consider Before Accepting Your Inheritance The Implications Of Accepting an Inheritance The news that you will be receiving an inheritance is often bittersweet because it means that somebody close to you has passed away. But you might also have mixed emotions about your inheritance for reasons that have to do with the actual [...]
Generation-Skipping Transfer Tax How Does The GST Tax Work & When Does It Apply? When it comes to federal taxes, most people are very aware of the federal income tax because, if they earn a paycheck, they cannot help but notice the deductions each pay period. But there are lesser-known taxes such as the capital [...]
Questions You Should Ask Your Estate Planning Attorney How To Know Your Estate Planning Attorney It's The Right One For The Job Creating an estate plan is a personal and often emotional undertaking, making the selection of your estate planning attorney of the utmost importance. Here are some questions you should ask your estate planning [...]
How To Keep Your Child’s Inheritance Out Of Your In-Law’s Hands The Benefits Of Careful Estate Planning For Your Child About 40 to 50 percent of all marriages in the United States end in divorce. Regardless of how you feel about your child’s spouse, you must face the possibility that they could become your child’s [...]
Right Of Occupancy Trust: A Trust To Protect Your Home & Your Loved Ones What Is Right Of Occupancy & How Does It Work? Estate planning is about protecting you and your loved ones. Sometimes this can be a difficult endeavor when there is a loved one who may require additional support at your death. [...]
What Is a Nongrantor Trust? Understanding The Role Of Nongrantor Trust In Estate Planning Every trust has at least one grantor, also known as the trustmaker, i.e., the person who creates the trust. So, it can be confusing when terms like grantor trust and nongrantor trust are used. It is helpful to understand that neither [...]
