Most people understand that having some sort of an estate plan is a good thing. Many people do not understand the nuances between a will and trust – and dying without either – but should not deter you from starting. Here is what will generally happen if you die, intestate (without a will or trust), with […]
The notion of fairness often pervades family dynamics and may continue even beyond death when decisions about dividing accounts and property arise. The law has attempted to address different notions of fairness with a variety of distribution strategies. Per stirpes, by representation, and per capita are key terms in estate planning that specify how money and […]
Far too many families end up fighting, or at least experiencing tension, over a family inheritance, but it does not have to be that way. Many families have worked through the details of divvying up a deceased relative’s property remarkably well and ended up even closer. Having counseled families for years, we offer the following advice […]
Passing Your Stories and Values to Future Generations Money tends to be focus of an estate plan, but the one’s riches of wisdom, values and experiences, can be more meaningful to their family and friends. Reinforcement of family traditions can be built into your estate plan alongside your wishes regarding your money, property, and belongings. After […]
Genealogy has long fascinated many people, and it continues to be studied by those who are interested in discovering who they descended from and what those family members were like. Many of us have gazed at black and white or sepia-tone photos of ancestors whose names we don’t know and wondered about their lives, joys, trials, […]
On December 20, 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act), which became effective on January 1, 2020. The Act is the most impactful legislation affecting retirement accounts in decades. It will have a positive impact for many older Americans but could have negative tax consequences for many beneficiaries […]
Whether you have accumulated a little or a lot of wealth over your lifetime, it is likely that you have some particular thoughts on how you would like those assets to be used by loved ones after your death. Maybe you would like the assets to be used as a down payment on a home, be […]
While saying the words “I love you” is indeed romantic, you should know that putting together a well-crafted estate plan is a concrete way to care for your family in the long run. This is because doing so will help prevent your surviving family members from scrambling to figure out what to do next while they […]
