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Knowing when to change beneficiaries is an important part of estate planning. Your job isn’t necessarily over once you create an estate plan. This is because changes in your life should spark a fresh look at the plan. Knowing the appropriate times to do that is important, according to the Aiken Standard in “On the […]
A will isn’t just about avoiding the federal estate tax. Even if the Republican-controlled Presidency and Congress eliminate the federal tax, the need for an estate plan is not eliminated, according to Forbes in “Five Reasons You Need a Will (Even If the Estate Tax Is Repealed)!“. The reasons include: In a will you appoint […]
Misconceptions about wills and trusts often creates confusion. TCPalm recently discussed common misconceptions surrounding wills and trust in “Common misconceptions about wills and trusts.” Among the misconceptions are: Having a will means that your estate does not have to go through probate. This is completely false. In most cases, wills have to be submitted to […]
There could be a big impact on estate planning and charities. Bloomberg took a close look at what impact may occur if President-elect Trump follows through on some of his campaign statements in “Where Charitable Giving May Head With Trump.” Trump has stated that he will increase GDP growth by 4% per year, which would […]
Trustees need to plan for automatic termination of Great Depression trusts. Dynastic trusts from the days of the Great Depression are near expiration and planning is required, according to Wills, Trusts & Estates Prof Blog in “Preparing for Trust Termination.” Most of the trusts created at that time have mandatory termination dates at which time, […]
Consider carefully before making your trust the beneficiary of your IRA. For tax purposes, it is not always a good idea to designate a trust as the beneficiary of your IRA, according to the Financial Advisor in “Is Naming A Trust As Beneficiary Of A Client’s IRA A Good Idea?“. The biggest and most important […]
The key reason for an estate plan is simple: protecting your family from future problems. Gathering the information to create an estate plan is probably not a pleasure. However, the reason for the estate plan is to protect your family from problems in the future, according to J Weekly in “Estate planning wards off problems […]
An estate plan can put you on the path of being remembered for charitable giving. If you want to be remembered for being a charitable benefactor, you need to get started and an estate plan is a good beginning, according to the Port Huron Times Herald explains in “Plan today to make a difference tomorrow.” […]
Received an inheritance? It may create more problems than it solves. A person or family could actually end up with less wealth after an inheritance, according to Chase News & Stories reports in “How to make sure your inheritance is a boon, not a bust.” An inheritance doesn’t always grow a family’s wealth. The biggest […]
Reasons for decline remain uncertain. Offsetting projections of an increase, researchers have found that the rate of dementia among the U.S. population has declined by 12% in the last 24 years, according to The New York Times in “U.S. Dementia Rates Are Dropping Even as Population Ages.” While this is good news, the reasons for […]
