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Calculating Your Financial Wealth

There are many financial and non-financial reasons to know your net worth. Estate planning is one of those important times when knowing your net worth is essential. When you plan your estate, your attorney needs to have an idea of your financial assets in order to design a plan that achieves your goals and preserves your assets for your family and loved ones. This article provides 3 simple steps to assist you with calculating the financial value of your assets.

The Impact of Dying Without an Estate Plan

Most of us expect that we'll be around to see another day. However, many people die unexpectedly from accidents, heart attacks, and other misfortunes. However, another big tragedy is dying without an estate plan due to procrastination. The time to plan is when we're alive and well, before illness or incapacity can strike an unexpected blow. This article looks at what would happen if you passed away with no plan in place to outline your wishes both during any period of incapacity and after your death.

Funding is Critical to Estate Planning

When Ted and Emily set up their Revocable Living Trust, they thought they were done. But when Ted passed away, Emily found out how wrong they were - the Trust they had created had not been funded. Some assets passed as joint tenancy, some by beneficiary designation and other assets had to go through probate. Learn how a properly funded trust could have avoided the distribution problems Emily encountered and achieved the results they had set out initially to accomplish.

Tax Saving Benefits of a Life Insurance Trust

Most people have heard of a Living Trust, but not many have heard of an "ILIT" or Irrevocable Life Insurance Trust. This type of specialized trust is structured to hold life insurance policies on your life. This article discusses how an ILIT works and the estate tax planning advantages it offers. Learn more about the benefits of this type of trust and whether an ILIT is right for you.

When Harry Met Sally: A Lesson in Preventing Family Discord

Oftentimes, families can be torn apart when a disgruntled beneficiary challenges a Trust. This article looks at a blended family's Trust inheritance that was contested by one of the beneficiaries. The contest cost all the beneficiaries hundreds of thousands of dollars and ultimately severed their relationships. Learn how their loss, both emotionally and financially, might have been avoided if the Trust had included a No Contest clause.

Keeping Your Vacation Home in the Family

Vacation homes hold a special place in our hearts with fond memories of special times shared with family. However, most people do not realize that leaving the family's vacation home to their children without proper planning can be devastating to their ongoing relationships and can tear the family apart. This article discusses the estate planning options available to preserve family relationships and keep the vacation home in the family through the use of special shared use agreements and separate funds that will pay for any expenses.

Top Reasons to Do Estate Planning--What are You Waiting For?

People have many different reasons to do estate planning. This article discusses the top 8 reasons which estate planning attorneys say motivate their clients to plan, which range from vacations to law changes. The bottom line is that people do estate planning in order to take care of their loved ones and to assure the legacy they envision. Don't wait until it is too late, create a plan today and ensure that when you pass away your loved ones will discover a coherent estate plan without the emotional and financial mess.

Selecting an Estate Planning Attorney - Wisely

Your estate plan determines who will be entitled to your assets, how they can use them, and the protections which they and the assets you leave them may have from creditors, divorcing spouses, etc. This article discusses the importance of finding the right attorney to assist you in creating that plan and the downside to using an attorney who is not experienced in estate planning, even if they are a friend.

Who Handles the Finances in Your Family?

Often a couple may divide up everyday chores. Dividing up the work can be a great way to ease the burdens of life. But, what would happen if the person responsible for money matters died or suffered an incapacitating event? This article reveals a list of 13 important questions you should ask to ensure your financial well-being. The list includes asking about bank accounts, life insurance, bills and estate planning. When illness, incapacity or death strike, it's important to know where things are and what to do. Make sure you know the answers and are prepared for whatever may come your way.

Dos and Don'ts of Managing an Inheritance

An inheritance is a bittersweet thing. Your loved one valued your relationship enough to leave you something to make your life better, you want to honor their memory and use the inheritance wisely. This article lists important "Dos" and "Dont's" to follow regarding the use of your inheritance. Also mentioned in this article are tips to consider if your inheritance is in an IRA. All too often inheritances are squandered on meaningless items, take some time to consider your options and make a difference with your inheritance.

When Father Time Catches Up With Our Parents

We all expect it to happen eventually. Our parents getting older. Not just older chronologically, but physically and mentally older as well. When these turn of events happen, there may also come a time when your parents will need more care than you can provide on your own. They may eventually need in-home care, or an assisted living facility, or even a nursing home. Are you prepared? In this article you will find out the steps you should take to secure your parents future, as well as your own. Also discussed is your ability to help them plan now for these eventual needs and help them prepare for this next stage in life when the time comes.

What Keeps a New Mom Up at Night Besides the Baby?

The birth of a new baby is a wondrous and joyous event. As a new mom you look forward to caring for your baby and watching your precious bundle of joy grow and develop from infancy to being a toddler, and then school-age to young adult. However, if something unexpected should happen to you, who would look after your child's physical and financial well being? This article reveals how you can provide a secure future for your new baby, with a comprehensive estate plan, should the unexpected happen.

Preserving Grandma's Legacy

You find your grandma's estate planning documents when you're helping her organize her attic. The documents were dated two decades ago, just before grandpa died. After grandma dies, the assets will have to be split among her three kids. However, since the estate plan was drafted, the family's circumstances have changed considerably and things aren't quite that simple anymore. Leaving her assets outright to her 3 children would mean that their inheritance would be lost to creditors and medical expenses. This article discusses the importance of having an up-to-date estate plan to preserve your legacy and family history as well as having a conversation with family members about their own planning.

How to Avoid Estate Planning Minefields: You Don't Know What You Don't Know

Some things seem like they should be easy--and they are easy. However, the problem with some complex responsibilities is that they may seem simple on the surface, yet they may be very difficult in reality. This is equally true for estate planning. However, experts can spot the hidden problems which the ordinary person may not. This article looks at the problems one couple had when they opted to use do-it-yourself estate planning software instead of consulting with an attorney. There was a hidden minefield that caused everything the family had worked for to be lost to an ex-spouse. Something that could easily have been avoided had they consulted with an experienced estate planning attorney. Find out what some of the most common estate planning minefields are and how you can avoid them.

Preserving Your Independence

As we get older, it often seems that time accelerates. Where does all the time go? Aging is a normal part of life. Unfortunately, as we age later in life we are no longer as able-bodied as when we were younger. What would happen if your health took a turn for the worst? This article discusses planning for the future using a Medicaid Income Only Trust. This type of trust can help preserve your financial independence, but there are certain guidelines that must be followed. Plan to protect your independence, see a qualified estate planning and elder law attorney today and discuss your options.

Planning After a Breakup

Nobody plans to break up. But as John Steinbeck said, "even the best laid plans of mice and men often go awry." For those going through a divorce this article includes a ten-point estate planning checklist to help you untangle the legal and financial web between you and your ex-spouse. Divorce can be scary. Just when a person is at their most vulnerable, they have so many new things to think about. A qualified estate planning attorney can help you move forward constructively toward a new future.

Living Trusts Enhance Privacy Protection

One of our primal fears is the fear of not having privacy and the protections which privacy provides. Today, anyone can find a great deal of information about you by doing simple online searches. This article discusses the privacy advantages of having a Revocable Living Trust, there are more than you may know. A qualified estate planning attorney can help you create a trust to protect your privacy and provide peace of mind both during life and after your death.

Family Feud - Don't Let This Be Your Legacy

Few things are as heart-wrenching as a dispute among family members. Problems in an estate or trust can often cause deep divisions in a family, divisions that outside forces might never have been able to cause. This article discusses five easy steps you can take to avoid disputes over your estate and ensure harmony continues long after your death.

A New Tax and Retirement Opportunity in 2010

We all know the importance of saving for retirement. However, those earning above $100,000 have had one retirement saving opportunity denied to them: the Roth IRA. If you fall into this category, you are now in luck! Beginning in 2010, there is no income limitation for converting from a traditional IRA to a Roth IRA. There are two methods to get money into a Roth IRA: Contributing money to the Roth IRA or converting a regular IRA to a Roth IRA. The rules are different depending on which method is used. In this article, you will learn how a Roth IRA works and the advantages you may gain if you convert. A Roth IRA can be a great way to save for retirement. But remember, these and other valuable assets in your estate are governed by beneficiary designations. A qualified estate and retirement planning attorney, who focuses their practice in that area, can help tailor an estate plan that coordinates the beneficiary designations and can help you decide whether switching to a Roth IRA is right for you.

Pet Planning - Not Just for the Rich and Eccentric

When people think of someone setting up a Trust for their pet, they might imagine Leona Helmsley's pet Maltese named Trouble drinking Perrier from a crystal bowl in a lavish Manhattan penthouse. However, you don't have to be rich and eccentric to set up a Pet Trust to care for their beloved pet(s). Pet Trusts are most commonly set up by caring individuals who just want to make sure that their non-human family member is taken care of in the event of their own death or disability. This article discusses the 3 easy steps necessary to set up a Pet Trust for your furry and feathered family members. Remember, without you planning for them in advance, they may face the same awful fate that awaits so many other orphaned pets. You will sleep better knowing that they will continue purring or wagging their tail even if you're no longer able to care for them.

4 Deaths, 3 Estate Planning Mistakes

What would you want to leave behind for your family when you pass away? If the answer is not a contentious mess, then planning is required. Unfortunately, only 44% of Americans have a simple Will, much less a well-coordinated estate plan. In this story there are 4 deaths with 4 different outcomes. Each had the best of intentions but only one provided for their loved ones after their passing. A qualified estate planning attorney, one who focuses his or her practice in estate planning, can help you craft a well-coordinated estate plan that will provide for your loved ones who were left behind and avoid the 3 mistakes made by these families.

Taking Care of Rover After You're Gone

Your pet may have been with you for years and provided companionship and support. We plan for our human families, like our children, but oftentimes forget about our pets or assume someone will take on their care. However, if we do not make arrangements for our pets, they may join the hundreds of thousands of sad pets who end up in shelters, or worse, are euthanized because of their owners' death or disability. These loving, vulnerable members of your family need you to plan for them, too. This article discusses how a Pet Trust can help you provide for your pet when you are no longer able to offer care and support.

When Time Is Short

Thinking about the end of a loved one's life is always tough to do. But what if you learned your mother only had one year to live, what would you do? After discussing treatment options, hospice, and her health care management, it may be wise to talk with your mom about setting an appointment with her estate planning attorney. Chances are her current estate plan isn't up-to-date, or worse does not exist. This article reviews a number of issues that should be discussed with her estate planning attorney to ensure your mothers' wishes are taken care of and her assets protected. This will help alleviate concerns and let your mom focus on making the most of her last days with her loving family.

When a Loved One Passes

A death in the family can be especially traumatic and it is easy to overlook important items. It is often helpful to have a checklist with the various steps that need to be completed, so that in the panic and grief of the moment, nothing is forgotten. In this article you will find a short list of important action items and tips to help guide you when there has been a loss in the family. Keep this list handy so that you will not forget any major items. Don't go through this alone, a qualified estate planning attorney can help guide you through the often-difficult process after the death of someone close to you.

Passport. Hotel Reservations. Living Trust?

When the inhabitants of Gilligan's Island went out for their three-hour tour, chances are they were not prepared for what was about to befall them. If they had never been rescued would their families be stuck in probate court attempting to divide their property even today? This article discusses the steps you need to take before you leave for vacation. The steps include a General Durable Power of Attorney and Revocable Living Trust, among others. Once these important measures are put in place, you will be able to relax and enjoy your vacation, worry-free!

Eighteen and Alone: The Legal Risks of Independence

When your child turns eighteen, it may feel like nothing has changed. But, disconcerting as it may be, for all legal purposes, turning eighteen makes your child an adult. Even more disturbing is the fact that without proper legal safeguards, you may no longer have any say in their medical care or financial matters. This article reviews the barriers that may prevent you from accessing your child's medical information in case of an accident or illness. Also discussed in this article are several legal safeguards that can be used to prevent this from happening to you and your child.

Estate Planning in the Electronic Age

In today's electronic age, it seems that things are changing at an ever increasing rate. Every time we turn around, there's a new technology and more and more information to keep in mind. With the electronic storage of sensitive financial and emotionally valuable information, a new concern people have is what to do with "electronic assets" after their death or disability. This article discusses four possible options for the transfer of these potentially valuable assets.

Don't Trust Your Legacy to Just Anyone

When we plan our estates, we must take into account the potential life changes that may arise for our surviving family members and ensure that we provide inheritance protection from the many real world dangers that may come up in today's times. However, not all estate plans are created equal. The knowledge and experience of the attorney you retain could make a significant difference in the lives of your surviving family members. Learn what to look for in the attorney you work with and the importance of including divorce, remarriage and lawsuit protection in your estate plan.

Estate Planning: It's Not Just About the Documents

An estate plan passes your assets to whom you want and in the manner you want after your death. However, some of your assets may not be controlled by your Will or Living Trust. This article discusses the various problems that can result when a thorough review of assets and ownership titles doesnt happen and how working with an experienced estate planning attorney can ensure that you avoid any planning pitfalls.

What Do Estate Planning and Shoes have in Common?

Surprisingly, estate planning and shoes share many similarities. However, selecting and implementing an estate plan is a bit more complex than choosing a pair of shoes. This article discusses the many similarities between shoes and estate planning, while providing a list and explanation of the various important components in a complete and integrated estate plan

Guarding Against Mental Incapacity

Mental incapacity is something that concerns all of us as we age. Like physical decline, the loss of mental alertness may not be entirely within our control. This only increases the need for proper planning. If you have not planned, and are no longer able to handle your financial affairs, a competency hearing may be necessary. This article discusses certain estate planning tools that are available to help avoid this hearing and take care of you and your family in the event of your incapacity.

Preserve Your Legacy, Not Just Your Money

Death and incapacity are a natural part of the process of life. Along the way, we develop our values and accumulate assets and experiences. When planning for the future, ensuring your assets pass to your loved ones is only the beginning. A new paradigm in estate planning is emerging, Legacy Planning. This considers not only the tangible financial assets you are going to leave your family, but also what your goals, experience and values are. This article gives an overview of the key components of a Legacy Plan and explains how each component works together to create a plan that meets your needs and which your family will cherish for generations to come.

Scams, Swindles, and Fraud, Oh my!

With more and more financial swindles making the news, it is not unreasonable to be worried about where you are investing. But scams are not limited to the investment field. There are plenty of scams to go around, even in estate planning. Seeking the counsel of a qualified estate planning attorney can help ensure you will not be the victim of an estate planning scam. This article explains what to look for in a qualified estate planning attorney.

Caring for Your Spouse....Even After You're Gone

Do you worry about caring and providing for your ailing spouse and making sure their needs are met, after you are gone? This article describes how a Testamentary Special Needs Trust is one estate planning strategy that can help you do exactly that. Learn how you can plan now to help your spouse qualify for financial assistance for their future medical and nursing home costs, while preserving your assets for other expenses or "luxuries" that your spouse may need, which are not covered by government benefits.

Trustee: an Honor and a Responsibility

Being named a Successor Trustee in your loved one's Trust is both an honor and a responsibility. It is the Successor Trustee's responsibility to administer the Trust and make many important decisions. In this article, we learn that some of those decisions may seem deceptively simple, however, the consequences of any hasty decisions could cause increased taxes and lost opportunities. Learn why it is important to consult a qualified estate planning attorney in order to prevent costly errors.

Tough Times Could be Tougher

In unsettling economic times, people are looking for someone to hold accountable for their difficulties. With an expected increase in lawsuits this year, it is important to protect yourself. This article discusses steps you can take to protect yourself and your family against harmful lawsuits that could put all your assets in jeopardy. A qualified estate planning attorney can help structure a plan that limits your liability and keeps you safe during these tough times.

Real Security

During these unsettling times everyone is searching for ways to feel more secure. This article provides details on how different components of a complete estate plan can provide real security for you and your loved ones, while building a solid foundation that can bring peace of mind during these unsettling times and in the future.

Your Team is on Your Side

Estate Planning is like a team sport. Your team should be made of qualified professionals, which you have selected. This article examines your team members and describes the role they should play in achieving your goals. Working with your team, you will be able to build a game plan to get you to the finish line.

A Loan May Be Taxing

This article examines important tax issues that may be overlooked when lending money to family members. Issues regarding gift taxes and income taxes are addressed and a possible solution using proper planning through an Irrevocable Trust is discussed.

New Year Brings Resolutions... and More

The coming of the New Year presents an opportunity to reflect on the past year, and reorganize our priorities and goals. One important resolution is protecting our assets and our families through estate planning. The process to achieve this goal is discussed in this article.

Powers of Attorney - May Not Be Enough

This article examines the limitations of using a power of attorney to delegate decision-making authority to someone else. It explores the solutions available through the use of a living trust by nominating someone as successor trustee.

Vacation Properties Take Planning

Just as taking a vacation takes some planning, vacation homes take some special consideration in an estate plan. There are several factors to consider, such as the possibility of ancillary probate, the use of the vacation home by beneficiaries, and the value of the home in your estate. The article reviews the use of both a revocable living trust and a special irrevocable trust, for those with a taxable estate, to create an effective estate plan that includes the vacation home.

Planning Opportunities in a Down Market

Every dark cloud has a silver lining, including uncertain economic times. This article examines unique estate planning opportunities that are available during a down economy. Tax savings by converting an IRA to a Roth IRA at a lower value, and transferring shares in a family business at diminished asset values are two strategies reviewed.

Planning to Benefit Non-Traditional Beneficiaries

Traditional estate planning strategies are not always available to people who have non-traditional beneficiaries, but here is a strategy that can only be used for non-traditional beneficiaries. These beneficiaries include unmarried domestic partners, same-sex married couples, nephews and nieces, and friends. This article examines the use of a Grantor Retained Interest Trust (GRIT), which is not available for traditional "members of the family", as a strategy to help plan for non-traditional beneficiaries.

Everyone Needs a Periodic Checkup

This article examines how legal and life changes may make it a good idea to consult with your estate planning attorney to ensure that your estate plan continues to achieve your financial and estate planning goals.

A Trust Can Help Protect You from a Financial Crisis

This article examines how a trust can help expand the protection on your financial accounts, including those at banks, savings and loans, credit unions, and brokerages.

The Silver Lining in Tough Economic Times

This article examines the current difficult economic times and how one estate planning strategy works better now than in better economic times.

Split Things Fairly - Not Exactly

This article examines the difficulty of giving an asset that makes up the bulk of the estate to one beneficiary, while treating the other beneficiaries fairly.

Grandma and Grandpa--You're the Best!

The article examines ways to give to grandchildren, both during life and after you are gone.

What's in a Word?

The article examines how George Carlin's comedy shows that the use of words can be important. The article looks at why that is also true in estate planning.

Dividing Up the Pie

The article looks at FLPs, an advanced estate planning strategy. The article explains how FLPs can minimize estate taxation and maximize asset protection.

Joint Tenancy - Joint Problems

Joint tenancy avoids probate and seems like a simple solution. Howver, adding a joint tenant adds all sorts of unforeseen problems.

The Prime of Life

This article recites the tragic story of Heath Ledger and how he omitted his daughter from his Will.

The Debate Continues and the Future of the Estate Tax Remains Uncertain

This article discusses the uncertainty created by EGTRRA and the likelihood (or lack thereof) of a fix from Congress in 2008. The article discusses the arguments for and against the complete repeal of the estate tax and the likelihood that Congress will not act until after a new President is elected. The article closes by encouraging consumers to see an experienced estate planning attorney for their needs.

A Plan by Design or by Telephone?

The article looks at the game of "Telephone" and how transmitting your legacy in this manner is likely to result in error.

The Passing of a Loved One

The article examines the seven elements which may be included in an estate plan: Health Care Power of Attorney, HIPAA Power, General Durable Power of Attorney, Revocable Living Trust, Pour Over Will, Funeral Trust, and Legacy Plan.

Special Needs Trusts and Autism

Autism is on the rise. You want to leave assets to your child without jeopardizing the availability of public benefits. A Special Needs Trust can help. This article explains how.

What's Probate and Should I Care?

The article examines what probate is and why it is best avoided, and how. The article also examines the holistic concept of "legacy planning."

Decisions, Decisions, Decisions...

This article looks at the factors people consider when making estate planning decisions.

Three Myths Women Have About Estate Planning

This article looks at several myths women have about estate planning. It includes some statistics that show why estate planning has more impact on women.

To My Dog, Lucky, I Leave $10,000

The article examines the use of "pet trusts" and a few examples of how pets were provided for in the past.

Gifting to Children

This article examines gifting strategies for transfers in trust to minors. Specifically, it looks at Crummey trusts and 2503(c) trusts and the advantages and disadvantages of each.

What are the Odds

This article examines the need to plan for the unexpected. It gives statistics for the odds of disability and of death from various likely and unlikely causes. It shows the importance to plan for the one certainty in life, i.e., death.

Protecting Your Children from Their Nightmares... and Yours

The article examines statistics regarding divorce in America and how to protect your children from divorce. It examines setting up a divorce protection trust for them as well as using a marital trust for second marriages for your own assets.

Help for Our Armed Forces

he article examines the taxation of combat pay. Specifically, combat pay is tax-free. Also, it looks at new legislation that allows combat pay, otherwise not in income, to be considered as income for IRA eligibility.

Learn from Anna Nicole's Mistakes

The article examines Anna Nicole's Will and that she did not update it upon major changes in her life: death of a son, birth of a daughter, commitment ceremony to Howard K. Stern. It suggests that the reader learn from these mistakes and be sure to update their plan periodically.

Waiting to Roth: Hidden Loophole for High-income Earners

The article explains a few different types of retirement plans and then looks at a loophole for high-income earners to make contributions to a non-deductible IRA now and then convert it to a Roth IRA in 2010, when income limits for such conversion are lifted.

Your 401k or IRA: A Problem Asset?

The article looks at IRAs and 401ks and how we need to save for retirement. Then it looks at the tax problems these plans create. It examines the stretch out available with the FRPT. It also examines using distributions to fund life insurance.

The Choice Is Yours: Don't Lose Your Chance to Make It

The article examines two cases: Terri Schiavo and Sarah Scantlin. Neither expressed their end of life decisions. Terri had her feeding tube removed after 15 years. Sarah awoke from her coma after 20 years. The article calls the reader to express their own desires in a Living Will.

What Happens in My Initial Estate Planning Consultation?

This article describes what happens in the initial estate planning consultation, including the questions asked, the discussion of goals, etc. The article also references a CNNfn segment that talked about the importance of stringent continuing education requirements, like those of the American Academy of Estate Planning Attorneys.

Is a Power of Appointment the Same as a Power of Attorney?

The article examines a few legal terms that can be confused, like Power of Attorney, Attorney in Fact, and Power of Appointment. The article examines the terms and specifically, how Powers of Appointment can add flexibility to a plan.

Estate Planning is Simple....Right?

This article examines clients' preconception that estate planning is simple and that it's just simple word processing. The article examines situations in which the estate planner's experience and technical knowledge comes into play.

How to Leave a Mess to Your Heirs

This article examines several common mistakes that create a mess for heirs: Lifetime Transactions without counsel (such as adding people on title to realty), Failure to Plan, and Failure to Communicate. The article poses the problem and then offers a solution to each.

To Roth or Not to Roth, That is the Question

The article examines the Roth IRA and recent developments that have expanded the concept, such as the Roth 401(k) and the ability to convert from a regular IRA in 2010.

Your Most Important Choice

The article discusses the importance of selecting appropriate agents and guardians. It specifically examines the different roles and focuses on guardians. It looks at a case in which the guardian nominated was not chosen by the court.

New Flexibilities for Partners, Children, and Others

The article examines the new "non-spousal rollover" provisions of the Pension Protection Act of 2006.

Anna Nicole Smith Can Teach Us a Few Things

The article examines the life of Anna Nicole Smith, her marriage, and the will dispute controversy. It encourages readers to be open about their wishes to family members and instructs on the use of a no contest clause.

A New Way to Give

This article examines new opportunities for charitable giving directly from an IRA.

Do it the Right Way

This article examines the life of tobacco heiress Doris Duke and a couple mistakes she made in planning her estate.

Do You Want Your Spouse to Lose Your Biggest Asset?

The article examines how beneficiary designations must be coordinated in order to have an effective estate plan. It looks at the story of a woman who forgot to change her beneficiary designations. As a result her husband of 20 years did not get her retirement plan proceeds.

Keep Your Cake - And Eat It, Too!

This article examines the Medicaid Income Only Trust. It gives an example of two women who are roomates in a facility: One who contributed to a trust and one who did not.

Smart People Do Estate Planning

The article examines the statistics of who does estate planning. It shows that people who are more educated are more likely to do estate planning. It recites reasons that you want to plan. Basically, the article is a call to action to the reader to take control of his or her life by planning.

Celebrity Estate Planning

The article examines interesting provisions of the wills of many famous people. It explains how this information is public and that if you use a trust you can keep your affairs private.

Estate Planning: No Tattoo Necessary!

The article looks at how to make sure your final wishes are accomplished. It looks at the case of a woman who tatooed "do not resuscitate" across her chest. It deals primarily with health care powers / living wills, but also touches on trusts.

Planning With Retirement Assets

The article looks at retirement planning and looks at a few strategies such as ROTH conversion, paying the tax, giving to charity, etc.

Preserving the Ranch for the Next Generation

The article examines a typical ranch family, the problems they face, and solutions. It touches on problems of joint tenancy, incapacity, and succession. It offers an RLT, a second to die ILIT, and a buy-sell as solutions.

My Attorney Does Not Practice Law Anymore: Now What?

The article instructs the reader what to do when their attorney does not practice anymore. It suggests finding a new attorney right away. It stresses finding someone with whom they feel comfortable and who gets lots of Continuing Legal Education.

How Do Millionaires Do It?

The article examines the five different types of millionaires and what makes them tick. It asserts that planning is at the core for all of them and that estate planning is necessary to avoid problems down the road.

Dealing with Aging Parents

The article examines how the parents took care of the kids and how the kids then take care of the parents. It looks at the need to plan in advance for wealthy parents (estate tax reduction), not so wealthy parents (Medicaid planning), and any parents (powers of attorney, etc.).

Preparing for Health Needs

The article looks at the financial and legal ways to plan for illness. As part of the financial portion, the article examines the use of Health Savings Accounts. As part of the legal portion, it examines the use of health care powers of attorney and health care directives.

Planning: Just Do It!

This article looks at what happens if no planning is done. It looks at the problems of probate if no trust is done and of intestacy if no will is done.

As Time Draws Near

This provides an overview of planning strategies when someone is approaching death.

Protecting Your Assets

This provides an overview of asset protection strategies.

10 Tips in Planning for Taxes

The article examines several strategies for minimizing income taxation, through timing of expenses and income, etc. It includes items to consider at year-end.

Handling Matters After the Death of a Loved One: Just Do It

The article examines the need to administer an estate or trust in a timely manner. It looks at several pitfalls resulting from inaction after someone's death, including not filing tax returns, not notifying creditors, etc.

Preserve Your Wealth with Medicare Part D

The article provides a basic overview of Medicare Part D and why it is important from an estate planning perspective.

Insurance: A Major Estate Planning Tool

he article looks at various types of insurance from life insurance to homeowner's insurance. It explains how minimizing risk is part of estate planning.

Want a Nude Funeral? Have it Your Way

he article tells the story of a Midwestern nudist who wanted to be buried in the nude but was not. It examines what people can do to ensure their burial wishes are carried out.

When Disaster Strikes

This article examines how tragedies can strike in any of our lives but how planning can lessen the impact. Estate planning can let you rest easier and make sure others have the legal right to help you when you need it.

New State, New Estate Plan?

This article examines how moving from state to state may impact an estate plan.

Is Estate Planning for Me?

This article examines various reasons people think estate planning is not for them, such as they aren't married or don't have money. It explains why they need estate planning.

Estate Planning is Life Planning

It seems like there is always some discussion in Congress about changing the estate tax. There even have been proposals to eliminate the tax permanently. If Congress ever eliminates the tax, does this mean that there will no longer be a need for estate planning? No, it does not.

The Power of Flexibility

Life is an interesting ride. Who would have expected it to turn out the way it has? Thirty years ago, as we walked to our local library, who would have thought that we could have more information available at our fingertips online than would fit in any library? Who would have guessed that these high school dropouts would have been so successful: Julie Andrews (actress / singer), Louis Armstrong (jazz musician), Kevin Bacon (actor), Lucille Ball (comedienne), Irving Berlin (composer), Tom Cruise (actor), Thomas Edison (inventor), Nicole Kidman (actress), Ray Kroc (McDonalds founder), Keanu Reeves (actor), Vincent van Gogh (painter), and George Washington (first American president).

You May Be Worth More Than You Think

The article examines the Millionaire Next Door and their characteristics. It recites statistics about millionaires and their increasing numbers in the United States. It finds that one characteristic of millionaires is that they plan. The article discusses the need to do estate planning.

Should I Leave Everything to My Spouse?

The article examines the tension between leaving assets outright to a spouse and leaving them in trust. It discusses creditor and divorce protection. The article also discusses allowing the surviving spouse to appoint the assets in the trust.

Advantages for Unmarried Couples

There are many advantages for married couples. However, there are a few ways that unmarried couples can take advantage of the system. The article examines two such ways, one simple (harvesting losses by selling a loss asset to the other partner) and one complex (a Grantor Retained Income Trust which is not allowed for related parties).

Could Your Hospital Kill You?

The article examines the case of a Florida man whose hospital went to court to enforce his living will. His wife / health care agent wanted him kept alive. The court allowed the hospital to disconnect the man, causing his death. The article examines the importance of establishing whether the Living Will or health care agent should have the last word.

Open Communication Avoids Disputes

The article examines the need for clear and open communication with beneficiaries and fiduciaries. Study cites statistics indicating a higher incidence of disputes when beneficiaries are kept in the dark.

Let Your Voice Be Heard

The article examines the case of Terri Schiavo and how a clear expression of her wishes could have avoided problems.

Charitable Bequests: You Better Review Them

This article examines the importance of periodic trust review and uses an example of charitable bequests and cy pres.

Remarriage: Treat New Spouse Like Royalty

Examines use of income trust in remarriage situations. Analogizes to royal trust in Duchy of Cornwall.

How to Handle a Windfall

This article examines the financial and estate planning steps for clients to take when they come into a financial windfall.

The Problems of Giving Everything Away

This article examines a case of a woman who titles everything in the name of the children. It examines why joint title and giving everything away may not be the best course of action.

Why is My Trust so Long?

Examines why a trust document must be long in order to be clear. Gives examples of issues requiring clarification.

Relax: Everything's Handled

Tells the story of a couple that is going on a second honeymoon and is worry-free because they did their estate planning.

Preserving Harmony with Blended Families

Second marriages and blended families raise unique concerns. The article examines marital trusts and unitrusts as a way to take care of both spouse and children and preserve family harmony.

Win a FREE Estate Plan!

Trust mills mislead seniors and bilk them out of their retirement. The article compares practices of trust mills and those of legitimate, quality estate planning attorneys, and how to tell the difference.

Complete Asset List is Essential

A complete list of assets is necessary for financial planning and estate planning. Such a list also helps in the event of a loss.

Asset Protection Planning in Litigious Times

In our ever increasingly litigious society it is essential to protect yourself from potential creditors. The article examines asset protection techniques in maintaining insurance to the use of asset protection trust.

SuperBowl Champ's Final Pass Incomplete

This article examines the life and death of Jack Kent Cooke and his $1.3 billion estate. It tells the tale of his expensive, drawn out probate and what could have been done to achieve a better result.

Home Sweet Home

This article looks at the various tax and asset protection aspects of a home, such as gain exclusion, bankruptcy exemption, QPRTs, etc.

Five Reasons To Plan Your Estate Now

We can all come up with reasons to procrastinate and avoid doing what we should. However, there are many reasons to avoid procrastination when it comes to estate planning. Here are five of them:

Family Torn Apart by Simple Oversight

On December 3, 1963, Mary and Robert Schindler gave birth to a wonderful baby girl, Theresa Marie. Terri grew up in Pennsylvania and had a typical childhood playing with her brother and sister and the family pets. As a teenager, she loved music and did artistic sketches. In November 1984, just shy of her twenty-first birthday, Terri married Michael Schiavo. Terri seemed to have everything going for her. At age twenty-nine, Terri was living in Florida with her husband and had a job she liked.

Privacy Protections: Don't Be Overprotected

Recent federal laws and regulations have created new privacy protections for your medical information. These laws are known as "HIPAA" (Health Insurance Portability and Accountability Act). Now physicians, hospitals, health insurers, and other "covered entities" must comply with strict rules or face fines and potential criminal penalties. An innocent mistake would incur a fine of $100. More serious breaches of privacy, such as releasing information for malicious harm, could result in fines of up to $250,000 and 10 years in prison. Understandably, health care providers are being extremely careful about the release of medical information in the face of such penalties.

Do-it-yourself Estate Planning: You Get What You Pay For

Self-help books are an ever-increasing segment of the American publishing market. There are books and software on everything from gardening to health care. There are even books and software out there that purport to allow an individual to draft his or her own estate planning documents. Some of these items are promoted by media personalities and others by purported experts

Should You Be A Resident of Your State?

We have all thought about faraway lands and the path not taken. As we grow older, many of us are fortunate enough to have a second home in which we spend much of our time. Perhaps it is a place to escape the blistering heat of summer or winters icy grip. Perhaps it is a place near children or grandchildren.

The Basics of Basis

Most of us have heard the term "basis" before but are not really sure what it means. While it has a meaning in common parlance, it also has a technical meaning for tax purposes. "Basis" is the benchmark from which the taxation of property is determined upon disposition. If you sell the asset for more than your basis, you have a taxable gain. Conversely, if you sell an asset for less than your basis, typically you have a tax loss.

Sometimes It's Better to "Just Say No"

When we receive an inheritance, few of us consider that there may be a choice to consider. We are still mourning the passing of someone dear to us when we learn about the inheritance. We just try to continue our daily lives, numb from our emotional loss. The estate or trust administration continues and eventually we receive our inheritance, either outright or in a trust for our benefit.

Are You Married - You May Be and Not Know It!

You are probably thinking to yourself "How is this possible?!" It is true, you may be married and not know it-even without a quick trip to Las Vegas.

The Hottest Trick in Estate Planning, Thanks Wal-Mart!

There is a little known estate planning technique that wealthy clients are lining up to hear about. It works well in a low interest rate environment, especially when stocks are down in value. It is called a Grantor Retained Annuity Trust or "GRAT."

Top 10 Reasons for Periodic Estate Planning Review

Some people think that estate planning is a once in a lifetime project. But, as John F. Kennedy said, "change is the law of life." Periodic review of an estate plan is essential to ensure that your plan continues to accomplish your goals in the most effective manner.

End of Year Planning

This has been a tumultuous year for Americans. The attacks on the World Trade Center and Pentagon, anthrax-laden letters, and stock market gyrations have kept us on edge. Most of us will bid 2001 good riddance and welcome the New Year with open arms. But, before we do that, a little planning now can help us to prepare for next year.

Saving for a Child's Education with Qualified State Tuition Programs: Now Even Better, But Still Proceed with Caution

Since its introduction in 1996, many parents and grandparents have become familiar with the Qualified State Tuition Program ("QSTP"), or Section 529 plan (referring to the Internal Revenue Code section authorizing the program). It is a state-sponsored (or private institution-sponsored) investment vehicle that allows you to set aside funds for qualified higher education expenses. You can name anyone as the beneficiary of a QSTP - a family member, or even yourself. Qualified expenses include tuition, fees, books, and room and board. QSTP funds are professionally managed and generally incur low management fees. You can select a QSTP sponsored by your home state or one sponsored by other states or institutions. Proceeds from such plans can be used for any qualified educational expenses of an accredited educational institution, whether in-state or out-of-state, private or public.

I Already Prepared My Will or Trust: Do I Still Need an Attorney?

Many people have the misconception that once they have created a Revocable Living Trust, they no longer need the services of their estate planning attorney. After all, a Living Trust avoids Guardianships and Probate, and attorneys and the court are involved in each of these processes. So, obviously the planning that was done eliminated the need for any future services of the estate planning attorney. Nothing could be further from the truth. There are a number of times the services of an estate planning attorney are needed.

Joint Tenancy: Friend or Foe?

If you're like many people who don't have an Estate Plan, you probably hold some of your assets as Joint Tenants with Rights of Survivorship. This is a form of ownership where two or more people have their names on the title of an asset, and upon one owner's death; his or her share of the asset passes to the remaining owner(s). While there are advantages to joint ownership, there are many pitfalls to keep in mind.

Estate Planning and Marriage the Second Time Around

Today in 30 percent of the more than 2.3 milion marriage ceremonies performed each year, at least one of the partners has been there before. And in many of these remarriages, there are children from a previous marriage. This trend can make proper estate planning even more critical, and helps explain why the QTIP Trust is growing in popularity, as this article reveals.

Estate Planning Tips for Divorced or Remarried Parents

In this era of divorce, remarriage and blended families, estate planning takes on special implications. This timely article presents estate planning guidelines parents need to know to protect their children and a new spouse.

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