Monthly Archives: June 2021
Irrevocable Life Insurance Trusts and Wealth Management
It may be time to reconsider how you plan to pass generational wealth to your heirs since the federal estate tax exemption allowance appears to be in jeopardy of being lowered. Congress is proposing to lower the current estate tax exemption from $11.7 million to $3.5 million for individuals and $23.4 million to $7… Read More »
Types of Life Insurance and How They Can Be Used in Estate Planning
Many of us do not start thinking about life insurance until we get our first full-time job and the company’s human resources representative asks us if we want to enroll in the employer’s group life insurance policy. Most people think “Why not?” and sign up, naming a family member as the beneficiary of their… Read More »
To Have, but Not to Hold? Common Law Marriage and Estate Planning
Marriage as a legal institution has taken a variety of forms throughout history. As society evolves, how we identify marriage in our society also changes. In some states, a couple may be deemed married without having participated in judicial or religious ceremonies, called common law marriage. This creates some potential issues when planning for… Read More »
Estate Planning Tips for Parents of a Special Needs Child
Children with a wide variety of special needs (disabilities) can live more productive lives than ever before with today’s medicine and health care advancements. Many scientists regard the term “special needs” as a euphemism for disability. Yet, the difference between the two terms is primarily one of acceptance and preference as both terms describe the… Read More »
Simultaneous Deaths: What If My Spouse and I Die at the Same Time?
The chances of a married couple dying in a common accident or within a very short time of one another are probably quite slim. However, it does happen. And it happens frequently enough that most states have laws to address the issue and the problems that can arise from simultaneous deaths. What are these… Read More »