BLOGS

OLD TAX PLANNING CAN COST YOUR FAMILY

If you’re married and prepared an estate plan before 2010, you likely planned to minimize estate taxes as most married couples did at that time. That is, you probably have revocable living trust that provides for the creation of a Family (also known as Credit Shelter or Bypass) Trust and a Marital Trust following your death. The usual formula for funding these trusts will generally result in the majority, if not all, of your assets passing to the Family Trust, with very little, or nothing being allocated to the Marital Trust.This result m...
Twitter Google Linkedin

A SECRET WILL IS USELESS

SO YOU HAVE A WILL….BUT WHERE IS IT?You took the time to create and properly execute a Will.  But what if your family doesn’t know about your Will, or if your Will cannot be found, or is hidden or destroyed, after your death?  Any of these will make your carefully thought-out Will useless.  This could result in the wrong people inheriting your assets and administering your estate, the wrong people being appointed as guardians of your children (both for their care and for the management of finances for them), and unnecessary expenses ...
Twitter Google Linkedin

I LOVE YOU

Couple in love“I love you, but…”  Considerations when leaving assets to a loved one.Valentine’s Day was the time to tell that special person how much you love them.  If you’re married, you probably intend to provide for your spouse at your death by leaving everything to them because you love him or her.Consider this statement --...
Twitter Google Linkedin