One important component of a comprehensive estate plan is establishing a Power of Attorney (commonly called POA) that would enable a person to manage your affairs or make decisions on your behalf should you become unable or incapacitated. There are…
Being a beneficiary of a person's estate and receiving an inheritance brings with it mixed emotions after the loss of a loved one. While losing a loved one is heartbreaking, the influx of funds can help ease financial burdens. It…
For many of us, we look forward to retirement as a time when we'll be able to enjoy a leisurely lifestyle pursuing all the special interests we never had the time (or money) for in our earlier years. One of…
Around half of US adults have written a will. Most of them believe that this document will ensure their affairs, and their loved ones, will be taken care of in the event something should happen to them. While a common…
Talking to your parents about their will or estate plan, or lack thereof, can be difficult. Many adult children put off having the “dreaded talk” with parents and are unprepared when an unforeseen event like an accident or illness happens.…
The ability of aging parents to make informed and meaningful decisions is often lost as they age. This growing inability may occur due to Alzheimer’s disease, other forms of dementia, mental illness, stroke, brain injury, or other severe health or…
It is likely that you have questions regarding how you want your assets distributed and who should have that responsibility, regardless of where you are in the estate planning process. A trust can be a great tool in your estate…
An emotional divorce can lead to financial turmoil (especially if children are involved). Rarely is the division of assets an amicable process. While your estate plan may be the furthest thing from your mind during a divorce, without updating your documents,…
An emotional loss like that of a close relative is one of life's most stressful experiences. In addition to the emotional aspect, there is the stress of handling the deceased person's estate and affairs. This part can be especially overwhelming. The…
Adapting to ever-changing federal estate tax laws, gifts, and GST exemptions may require an annual review and amendment of your estate plan. Since 2018, federal tax assessment on estates above $11.7 million, indexed for inflation every year, will default back to…