Category Archives: Estate Planning
Flying Solo: Why Estate Planning Still Matters and What to Do Next
Estate planning for single people is very important in order to ensure that your wishes are carried out during your life and after your death. As a single person, you may find yourself wondering who will step in to make important decisions for you if you become unable to do so or who will… Read More »
Personal Representative’s Rights: How You Are Protected While Administering an Estate
Being named Personal Representative of someone’s estate is often viewed as an honor. It means the person who created the will trusted you to handle their affairs and carry out their wishes after death. But once the process begins, many Personal Representatives discover that the role involves far more than distributing belongings or closing… Read More »
Celebrate Your Life Your Way: How to Make Funerals and Memorials Meaningful
Many people have a childhood memory of somebody close to them passing away. Whether the deceased was a parent or grandparent, an aunt or uncle, or a family friend, it may have been their first real encounter facing grief or attending a funeral. That experience may have left a lasting impression, influencing what you… Read More »
Does my Spouse’s Citizenship Affect my Estate?
A noncitizen spouse is treated differently than a US citizen spouse for estate and gift tax purposes. A noncitizen spouse does not get the unlimited marital deduction. Married US citizen spouses can generally transfer unlimited amounts of money between each other during life or upon death in various qualifying ways without any gift or… Read More »
What to Do When Your Doctor Tells You to Get Your Affairs in Order
A phrase that no one ever wants to hear from their doctor is “it’s time to start getting your affairs in order.” Unfortunately, 76 percent of Americans do not have a will, and it often requires a chronic disease, terminal illness diagnosis, or other life-changing event to prompt people to start the estate planning… Read More »
Talking to Aging Parents About Estate Planning
Beyond the practical purpose of transferring assets and reducing taxes, an estate plan reflects love, responsibility, and values. That emotional heaviness may be part of why many families don’t know how to talk about estate planning, and instead choose to avoid the subject. completely Pew Research reports that only about 3 in 10 US… Read More »
What Is an Inheritor’s Trust?
If you are expecting an inheritance, an estate planning tool known as a trust may prove useful, depending on your circumstances. Among the numerous types of trusts aimed at fulfilling different estate planning purposes, an inheritor’s trust is specially designed to help protect an inheritance. Purpose of an Inheritor’s Trust A future beneficiary establishes… Read More »
International Inheritance Laws: What US Residents Need to Know
Estate planning can be complicated enough when all your assets (accounts and property) and loved ones are located within one country. But for US residents with international connections, whether through property, citizenship, residency, business interests, or loved ones living abroad, it can become significantly more complex navigating international inheritance laws. Different countries have different… Read More »
When Is an Estate Subject to State Death Taxes?
The United States imposes a federal estate tax at death, which is based on the total value of the deceased person’s estate (everything a person owns at the time of their death) and is paid from the estate itself. In addition to the federal estate tax, some states assess their own state death tax…. Read More »
Mission Accomplished: Your Guide to Veterans’ Planning Essentials
Joining the military often sets individuals on a path that is distinctly different from pursuing higher education or entering the civilian workforce. Every year around Veterans Day, we honor the sacrifices of those who have served our country. However, we do not always pause to consider the unique experiences and challenges Veterans face when… Read More »
