An ancient philosopher once said “there is nothing so constant as change.” With each new event in our lives, we assess our current path and make corrections as needed. The same is with our life care planning – certain events create opportunities to review and modify your estate plans. Your Family Changed Some changes in…
Estate Planning Is One Of The Most Important Things A Person Can Do For Their Company Properly executed estate plan documents provide an orderly way to take care of a person’s property after death or incapacity. In some cases, that property will continue to be used by family members for generations. As a business owner,…
We like to protect things. Children, pets, ourselves, our homes – all important things we try to keep from harm. And records, too. Financial records, family history, and, of course, legal documents all need some tender loving care. In Fact Your Estate Planning Documents May Be The Most Important Documents You Need To Protect Organize…
Business Transfers Within The Family Maybe you’ve considered the question of whether to retire or whether to keep running your business. And you’ve decided it’s time to trade in your ergonomic executive chair for a cushy deck chair. But then more questions arise: What will happen to your business? Who will take over? And can…
Most people enjoy giving presents and watching people open them. Gifting is also an important tool used while preparing an estate plan, but some gifts may be taxable by the Internal Revenue Service. Federal Gift Tax Explained In 2017, individuals can give up to $14,000 per person to as many people as they want. Spouses…
Benjamin Franklin said, “In this world nothing be said to be certain, except death and taxes.” Most of us pay taxes like income tax, sales tax, and capital gains tax. When it comes to estate planning, both death and taxes come into play. Fortunately, we can use strategies for reducing taxes that we owe. Income…
Some people put off estate planning because they don’t want to think about death or feel they don’t have enough property to bother with. Others pay the lowest fee possible, either by hiring an inexperienced attorney or buying forms from an estate planning website. While it may seem like winning to save a little money…
Every person leaves a legacy, a way for their families and friends to remember them. Legacies can consist of favorite memories, belief systems, and tangible assets like homes or financial accounts. No one can take away the memories you leave, but how can you go about protecting your tangible assets for the next generation? Why…
We’ve come to rely on electronics and the Internet for many things we used to do on paper. Nowadays, we use e-readers instead of paper books, smartphone apps instead of maps, and Internet sites instead of newspapers. One of the most important documents you will ever sign exists only in paper form – your Last…
Dual Residency Can Effect How Your Estate Is Settled People who own homes in more than one state face more legal issues. How will being a two-home, two-state family affect your estate planning? Residency is usually defined as “where a person lives.” But where someone maintains a “permanent home and substantial connection” is their domicile.…