Many single people are under the impression that estate planning is only truly necessary once you have children and/or get married. The truth is that a single individual often has just as much reason, if not more, to create a comprehensive estate plan as someone who is married or who has children. Consider the following...

Read More »

Whenever you give someone money or assets, that gift is potentially subject to gift taxes. A small gift is not going to incur a gift tax, but for anyone with a sizeable estate, the gift tax must be taken into account whenever a gift is made. Two types of gifts, however, are never subject to...

Read More »

The idea of turning down, or disclaiming, an inheritance may sound absurd to most people, but there are a variety of reasons why disclaiming an inheritance may actually be the most beneficial course of action. The most common reason why you may wish to disclaim an inheritance is that the tax ramifications of accepting the...

Read More »

There are two basic ways in which wealth can be transferred–gifting during your lifetime or bequeathing after your death. Waiting until your death is not always the best way to transfer wealth. While only you and your estate planning attorney can decide which way is right for assets in your estate, there are a number...

Read More »

Many things change when you get married — including your estate plan. If you have yet to create one, now is the time to do so. If you already have an estate plan, now is the time to update your plan. How you approach the subject of estate planning once you are married will hinge...

Read More »

Although the names have been changed, the following is a true story that illustrates why a pet trust is so important for anyone who loves his or her pet. William lived alone after his wife of 35 years passed away. He decided to do what many elderly individuals do when they find themselves alone —...

Read More »

Estate planning in the 21st century is a complicated and complex process that often makes use of a wide variety of estate planning tools. Which of those tools is right for your estate plan will depend on a number of factors. One estate planning tool that is used by many people is the funeral trust....

Read More »

For a select few, the concept of a digital estate is old news. For the rest of us, the idea that we own digital property may come as a big surprise. If you are among the majority, don’t feel bad, the concept of electronic property or digital property is something that is just now starting...

Read More »

Leona Helmsley was a wealthy woman, if not a well liked woman, during her lifetime. A New York hotel heiress who was dubbed the “Queen of Mean”, Helmsley was known for being a harsh task master and a cut throat business woman. When her husband died in 1997, Helmsley did what many elderly individuals do...

Read More »

Estate planning is, by its very nature, a complicated and emotional process. Anytime you combine money and family, there are bound to be problems! Adding to the stress of estate planning is the fact that if you make a mistake, chances are you will not be around when the mistake is realized, meaning you only...

Read More »