Recent Blog Posts
Does Treating Your Children Fairly Mean Unequal Inheritances?
When thinking through their estate plan and how they want their assets(money and property) managed after they pass away, most parents wish to treat their children equally, often out of a sense of fairness. However, sometimes being fair or doing what is right by your children may mean giving unequal inheritances. The Key Takeaways… Read More »
Is an Income-Tax Time Bomb Lurking in Your Estate Plan?
As the federal estate tax exemption has ballooned from $5 million in 2011 to $13.99 million today (increasing to $15 million in 2026 adjusted for inflation), the need for estate tax planning has drastically decreased. However, with a top marginal income tax rate of 37 percent, the focus of estate planning has shifted to… Read More »
Minimalist Estate Plan? Save “Less is More” for Your Decor!
In a modern world marked by information overload, overflowing inboxes, nonstop notifications, and the constant pressure to accumulate more stuff, minimalism offers a compelling counternarrative. But, is a minimalist estate plan a smart idea? NO! Let’s discuss why… Born from the mid-twentieth century artistic rebellion and revived in the 2010s on the back of… Read More »
Planning for Real Estate in a Foreign Country
The allure of a foreign land—perhaps where the weather is milder, the pace of life slower, and the cost of living lower—is a dream for many Americans who want to escape our country’s fast-paced, high-cost living. That dream can become a reality, and a tangible investment, for Americans who purchase real estate in a… Read More »
Undoing an Irrevocable Life Insurance Trust: Options and Alternatives in a Changing Estate Tax Landscape
The irrevocable life insurance trust (ILIT) has long been a staple of estate planning. This tool is designed to hold life insurance policies and remove the death benefit proceeds from an individual’s taxable estate (meaning that the value is not subject to estate tax) while also providing liquidity to cover estate taxes, the deceased… Read More »
Your Divorce Decree: The First Step in Estate Planning
You and your spouse have recently divorced, and the judge has signed the divorce decree. Now what? Although you may feel that you have spent enough time and money on lawyers, there is one last attorney you need to talk to: an estate planning attorney. If you and your former spouse created an estate… Read More »
How to Minimize the (Voluntary) Federal Estate Tax with Portability
Most people may be surprised to learn that the federal estate tax is considered by some to be voluntary. Estate planning attorneys used to say, “You only pay if you do not plan.” The relatively recent introduction of portability provides yet another planning tool available to married couples to minimize or eliminate estate taxation…. Read More »
Surprise! You Cannot Easily Disinherit Your Spouse
Believe it or not, it is not easy to disinherit your spouse in the United States. In many states and the District of Columbia, you cannot intentionally disinherit your spouse unless your spouse agrees to receive nothing from your estate in a prenuptial, postnuptial, or other marital agreement. However, the same is not true for other… Read More »
Want to Disinherit Someone? This Is What You Need to Know
Disinheritance—the intentional exclusion of a family member, usually a child or spouse, from receiving part of your estate after your death—is more common than you might think. It is also easier than you might think to disinherit a loved one, with a couple of notable exceptions. However, it is not as simple as omitting… Read More »
Three Estate Planning Mistakes Farmers and Ranchers Make—and How to Avoid Them
Farming and ranching is more than just a livelihood; it is about preserving a legacy and a way of life. Unfortunately, many farmers and ranchers fail to create a comprehensive estate plan—or any estate plan at all. Without proper estate planning for farmers and ranchers, the family farm or ranch – passed down for… Read More »
