Powers of Appointment: A Flexible Estate Planning Tool
By definition, estate planning is designed to address events that may not occur for years or even decades. This requires you to make decisions regarding your estate today against the backdrop of an uncertain future. Fortunately, there are tools available to build flexibility into your plan, including powers of appointment.
Becoming Empty Nesters Soon?
This transition is the perfect time to reexamine your estate plan
It’s graduation season! Whether your last (or only) child will soon be leaving home for college or a new job, becoming empty nesters is a major life transition for you and your spouse. While much of the focus...
Estate Planning Red Flag – You’ve Neglected to Review your Life Insurance Policy
Life insurance is often purchased during major milestones, such as getting married, buying a house or welcoming a child. Once the policy is in place, it’s easy to file it away and assume the job is done. But life changes, tax laws evolve and financial goals shift. That’s why regularly reviewing your...
Owning Foreign Assets Requires Special Estate Planning
In an increasingly global world, it’s not uncommon for individuals and families to own assets outside the United States. A vacation home in another country, inherited property overseas, foreign bank or investment accounts, or even an ownership interest in an international business can all add complexity to your financial picture. While these...
Estate Planning Pitfall – You don’t Understand the Differences Between a Revocable and Irrevocable Trust
Trusts are powerful estate planning tools, but not all trusts work the same way. Two of the most common options are revocable trusts and irrevocable trusts. Understanding their differences can help you make informed estate planning decisions.
A revocable trust — often called a living trust — provides flexible....
Accounting for Collections in your Estate Plan
When thinking about estate planning, people often focus on traditional assets such as real estate, retirement accounts and investment portfolios. But for many families, some of the most valuable — and complicated — assets are collections. Artwork, rare coins or stamps, vintage automobiles, sports memorabilia, and other collectibles can represent significant financial...
Estate Planning Red Flag – Failing to Properly Plan for Beneficiaries Predeceasing You
When people think about estate planning, they often focus on how their assets will be distributed after their death — but few consider what happens if a child or other beneficiary dies before they do. While it’s difficult to imagine such a scenario, planning for this possibility is essential to ensure that...
Pass Your Values on to Heirs with an Incentive Trust
Your estate planning goals should go beyond simply dividing your assets among heirs. For example, you may want to pass on your values to loved ones. An incentive trust can offer a powerful way to do both.
Influencing your loved ones
By linking asset distribution to...
Fairness and Flexibility – A Pot Trust Can Benefit All of Your Children
A trust is one of the most versatile and effective tools in an estate plan. It allows you to manage how and when your assets are distributed, often avoiding probate and ensuring that your wishes are carried out efficiently. If you have children, creating trusts for them can offer a range of...
Estate Planning with Qualified Small Business Stock (QSBS)
The new tax law enhances the benefits
Qualified Small Business Stock (QSBS) can be a powerful tax and estate planning tool, enabling eligible business owners — and their heirs — to exclude up to 100% of the capital gain when they sell their stock. The One Big Beautiful Bill...