How to Leave Gifts to Step-Children
Today, blended families have become increasingly common, and many individuals have step-children, that is, children of a spouse or partner. In situations where step-children have not been legally adopted, however, they do not have a legal right to an inheritance from a step-parent....
A Primer on Advance Medical Directives
While the main objective of estate planning is to help individuals protect their assets and provide for loved ones, there are other important considerations, such as planning for incapacity. In short, it is crucial to plan for the type of medical care...
Why New Parents Need an Estate Plan
Becoming a new parent is a life changing experience, and caring for a child is an awesome responsibility as well as a joy. This is also the time to think about your child's future by asking an important question: who...
Will or Won’t? Things a Will Won’t (or Can’t) Do
Will or Won’t? Things a Will Won’t (or Can’t) Do
Wills offer many benefits and are an important part of any estate plan, regardless of how much property you have. Your will can ensure that after death your property will be given to the...
Problems with Using Joint Accounts as a Vehicle for Inheritance
When deciding who will inherit your assets after you die, it is important to consider that you might outlive the beneficiary you choose. If you have added someone to your financial accounts to ensure that he or she receives this asset after...
Estate Planning: Leaving Assets to a “Troubled” Heir
If you have a child who is addicted to drugs or alcohol, or who is financially irresponsible, you already know the heartbreak associated with trying to help that child make healthy decisions. Perhaps your other adult...
What to Do After a Loved One Passes Away
The loss of a loved one is a difficult time, often made more stressful when one has to handle the affairs of the deceased. This may be a great undertaking or rather minimal work,...
How to Keep Your Affluent Children From Turning into…..Well…..Brats!
How to Keep Your Affluent Children From Turning Into … Well, … Brats
Congratulations are in order—you have accumulated enough wealth to be concerned about eventually passing it along to your children and grandchildren in a manner that will encourage them to lead positive...
Making Decisions About End of Life Medical Treatment
Making Decisions About End of Life Medical Treatment
While advances in medicine allow people to live longer, questions are often raised about life-sustaining treatment terminally ill patients may or may not want to receive. Those who fail to formally declare these wishes...
Can I Get in Trouble with the IRS for Trying to Reduce the Amount of Estate Tax That I Owe?
You’ve likely heard that one of the many benefits of estate planning is reducing the amount of federal, and state, taxes owed upon...