There seem to be no popular options that will fix the growing problem. The problem of under-funded public pensions is severe and not isolated to just a few public programs, according to the Economist in “American public pensions suffer from a gaping hole.” While most private companies have moved to 401ks, public employees still have […]

Estate planning instruments, including trusts, can be used to avoid the probate process. If some information you have seen or heard has led you to believe a will does not have to go through probate, you are just plain wrong, according to TC Palm in “Common misconceptions about wills and trusts.” Sometimes, misconceptions begin with […]

Sometimes the little things can start the big fights. Estate plans are often designed to fairly distribute assets and avoid family fights.  However, sometimes the little items of personal property can create the big problems, according to CNBC in “7 Ways that cheap Tweety Bird figurine can screw up your estate.” Potential problems include: Items […]

Because of the history of trusts being quite large in the U.S., people think they are restricted to those with large amounts of money. Trusts are not just beneficial to the super wealthy. They can be a good tool for everyone, according to the Times Herald-Record in “Trusts are no longer just for the wealthy.” There […]

Trump administration and GOP moving toward tax reform, including eliminating estate tax. There are many tax reform possibilities as President Trump and Congress look to the future. However, a complete repeal of the estate tax is included in the framework tax reform, according to Forbes in “Trump GOP Tax Reform Framework Calls For Estate Tax Repeal.” […]

Jury has awarded money for damages. However, it appears likely the amount won’t hold up to court scrutiny. JPMorgan has been ordered to pay plaintiffs $5 million in actual damages and $4 billion in punitive damages for a suit involving the handling of a complex estate that didn’t have an estate plan, according to Bloomberg in […]

A special needs trust is restrictive and the third-party trustee sometimes needs to be replaced. It can be quite challenging for the beneficiary to replace the trustee. If a special needs trustee is not up to the job or intentionally mishandles the trust, it can be difficult for the beneficiary to change the trustee, according […]

Don’t assume that you can take care of the plan later. Estate planning can run into two problems: not taking care of the initial planning and then not following up with adjusting for life changes, according to the Sunshine Daily Coast in “Fix your will before it’s too late.” What is the problem with not […]

Can you just show a will to the holder of the assets and take possession? No, you need to head to court. There are numerous misperceptions about how a will works. Attorneys often deal with people upset that it requires approval from a court before it is official, according to The Times Herald in “Wills […]

A slight increase could bring estate tax exemption for couples to $11 million. Analysts are projecting the IRS will increase estate tax exemptions for 2018, as well as boost the annual gift tax exemption, according to Forbes in “Estate Tax Exemption To Top $11 Million Per Couple in 2018.” Analysts forecast an increased exemption for […]