Estate Planning

Each year, Y.S. travelers earn as many as 3 trillion frequent fliler miles. You can't take them with you, but you may be able to pass them to your loved ones....

Every parent wants to make sure their children are provided for in the event something happens to them while the children are still minors. But good intentions and poor planning often have unintended results....

The fiscal cliff "compromise" hammered out over the New Year's weekend included several provisions relating to gift and estate taxes. Bottom line: not much has changed....

On Friday afternoon, December 28, President Obama held a "fiscal cliff" meeting at the White House. It appears that the parties are now approximately $200 billion to $300 billion apart. ...

This holiday season, while creating new family traditions, or searching for the perfect gift for Christmas, don’t forget to think about planning for your future. Give your family the gift of memories made when they need them most....

It is impossible for an estate planning attorney to properly advise you on any aspect of your estate plan without specific, detailed information about your personal and financial situation....

Most people visit their doctor and their dentist for a regular annual checkup, and understand the importance of getting the oil changed in their car on a regular basis, but they fail to maintain the integrity of the plan that will provide for them in the event of their disability and transfer their assets at the time of their deaths....

Currently, at the Federal level, there is a $5.12 million estate and gift tax exemption. This exemption, also known as the applicable exclusion, is scheduled to revert back to $1 million at year’s end if Congress does not act. With the election in November, it is a guessing game as to what action, if any, will be taken to address this significant reduction in the applicable exclusion....

People of all ages need to have an estate plan, but that is especially true as we enter the twilight of our lives. Estate planning issues confronting seniors differ in many respects from those faced by young families or those in their prime earning years....

A solid estate plan can ensure that your children will be cared for by a trusted guardian in the manner that you direct. Additionally, an estate plan prevents children from receiving assets before such time as they are able to determine their best interests and properly manage the funds....

While college preparation “To-Do Lists” include extensive lists of items a student needs on move-in day, they often lack the foresight to include execution of an estate plan. Having a proper estate plan is one very important step on the road to independence for college students and their parents....

Update your estate planning documents. The exclusion limit has been extraordinarily benign for the past three years, affecting only very wealthy families, but it might not remain that way. Barring Congressional action, estates of $1 million will be subject to the estate tax starting next year, and the top estate tax rate will be 55%....

The premature death of pop star Whitney Houston should serve as a reminder to everyone to make sure that their estate plans are up to date and that their trusts are properly funded. The story of Whitney Houston's death, because she was a celebrity, highlights what should be done, what was done wrong and what was done right....

Everyone over the age of eighteen (18) should have advance medical directives. Take control. Be proactive. Don't leave those very important matters to chance....

Along with a will, Michael Jackson established a Living Trust. The beauty of a living trust is that the assets it holds at the time of death avoid probate, a time-consuming, expensive and public process. Overall, it can save a lot of money, time and hassle. Unfortunately, clients often forget the next necessary step to making trusts work as designed: they neglect to transfer their assets to the trust. In that case, probate is NOT avoided, and many of the benefits of a Living Trust are lost....