When you think about how you want your property to be distributed after your death, most of the time it is easy to identify that property—your home, your cars, your jewelry, etc. But what about the genetic material used in assisted reproductive technology, such as frozen sperm, eggs, and embryos? Is genetic material stored with your […]
Cryptocurrency’s popularity has rapidly increased in recent years, with more people buying and selling it. Here are three things you need to know about cryptocurrency in relation to your estate plan. Beware of the Tax Consequences Transferring your cryptocurrency to other people, either during life or at your death, could have income, estate, and gift tax […]
A family office provides management services to a family whose businesses and wealth have become too complex and significant to manage by themselves. It often combines investment, legal, and tax services along with lifestyle and administrative services, such as making travel arrangements or coordinating the use of the family’s private aircraft. In addition to supporting and […]
The short answer to the title question is yes, your trust can own your business after you die. The longer legal answer is there are a number of considerations that may impact your trust’s ability to own a business after your death. One such consideration is the type of business interest you own. Is the business […]
According to the National Association of Home Builders, in 2018 there were approximately 7.5 million second homes, making up 5.5 percent of the total number of homes.[1] These pieces of vacation property are not only real estate that must be planned for, managed, and maintained, they are also the birthplace of happy memories for you and […]
A spouse’s death creates a difficult and demanding time for the surviving partner. As much as you might want space and time alone to process your grief, you may have certain responsibilities related to settling their affairs, including paying off spouse’s debts. Most Americans have some type of debt. The obligation to pay debts does not […]
For LGBTQ+ Americans, estate planning can be even more important. Despite same-sex marriages being legally recognized since 2015, couples composed of sexual and gender minorities still face estate planning challenges not encountered by other “traditional” same-sex couples. Issues such as unaccepting family members, child adoption by nonbiological parents, and LGBTQ+ couples living together unmarried underscore the […]
The divorce process can be long and expensive. Getting the final decree is the end of one big effort, which probably felt exhausting. Yet, the work doesn’t end once the divorce decree is signed. Once you have gotten divorced, it’s prudent to update your estate plan. More Work After Divorce? Why Bother? A divorce has a […]
