Some End-Of-Life Documents Washingtonians Need Now No one likes thinking about death, but unless some decisions are made before that time, emotion could get in the way of what you want to happen. Even worse, the state or a strange doctor could make important decisions instead of your family. Some of the documents we offer have immediate benefits as well. Many More
Four Important Tips You Need to Follow to Minimize the Risk of an Estate Dispute A major concern for many people is that their loved ones will get embroiled in time-consuming, and costly, litigation after they pass away. This is why it is important to take certain steps before you pass on to ensure your estate is not the subject of a lawsuit. Tip No. 1 – Compile an Exhaustive More
Passing On Treasured Family History and Heirlooms In estate planning, there is an emphasis on financial assets, home property, and power of attorney. However, there needs to be an emphasis on effectively passing on family heirlooms. In fact, many disputes concerning an estate do not center on financially-valuable items, but rather treasured family possessions. Think of it this way: money can be More
Estate Tax Repeal Included in Proposed Tax Reform Legislation The House Committee on Ways and Means, along with the Senate Finance Committee, recently released their proposed framework for tax reform and it includes an outright repeal of the federal estate tax and generation-skipping transfer tax. In addition repealing the federal estate tax, the proposed legislation would eliminate personal exemptions and a myriad of itemizable More
Estate Planning is Not a One-Time Event Everyone, no matter their age or net worth, needs to have an estate plan. Why? Because an estate plan provides guidance to your loved ones on how your assets are to be distributed when you pass away. If you do not leave behind an estate plan, you are essentially leaving your property and heirlooms in More
New Facebook Feature Highlights Importance of Incorporating Digital Assets Into Your Estate Plan Facebook created a feature called Legacy Contact. This feature allows people to authorize someone to access or modify their Facebook account after they pass away. The individual named as your Facebook Legacy Contact is empowered to do the following: Write a post that will display at the top of your Facebook timeline after you More
What You Need To Know About Family Trusts This estate planning vehicle, which is sometimes also known as a bypass trust or a credit shelter trust, can save literally tens of thousands of dollars in taxes. When one spouse dies, all his or her property goes tax-free to the surviving spouse, thanks to the marital deduction. Unfortunately, this transfer also means that the More
Court Cuts Off Would-Be Prince Heirs Five people who claimed to be Prince Nelson’s half-siblings have no basis for their claims, according to the Minnesota Court of Appeals. The five people did not trace their lineage through John Nelson, who was married to Mattie Shaw at the time of Prince’s birth in 1958, and Carver County DIstrict Judge Kevin Eide had More
The Three Pillars of Estate Planning (And More You May Need) Over the course of a long life, every different person will acquire a different set of assets and liabilities. When it comes time to think about passing them on to family and friends after you pass on, though, there is a trifecta of instruments that do the bulk of the work. While others might be More
Estate Planning: How to Leave Money to Charity Many people have causes and charities that they want to continue to support after they pass away. Without these generous gifts from people like you, many charities would simply go out of business. However, surprisingly to many people, leaving assets to charity is often a complicated process. Indeed, without proper estate planning, not only might More