Category: Estate Planning

Losing a loved one is challenging enough without added complications. One way you can take some of the pain out of administering your estate is by preparing a death box, also called a death binder, next-of-kin box, or legacy folder. It serves as a centralized place to organize important information and documents in a productive, practical way, ensuring […]

Raising Stewards, Not Mere Beneficiaries: Preparing the Next Generation for Inheritance Steward—a term for someone entrusted with the care of something that does not personally belong to them—is commonly used in such realms as business, public service, and environmentalism. Conservationists may be referred to as stewards of the land. Business leaders may describe themselves as stewards charged with […]

For some people, the term family meeting may not bring to mind a pleasant gathering where everyone shares fond memories and warm feelings. When someone says, “We need to talk,” it often implies that something is wrong or that tough decisions need to be made or discussed. However, in estate planning, future problems are exactly what family meetings […]

    Real estate can be owned in several different ways. The form of ownership, or how your property is titled, can determine how much control you have over it, how vulnerable your property is to creditor claims and lawsuits, and what will happen to it at your death.  Individual Ownership One of the most common ways people […]

  Your real estate encompasses not only your primary residence but also any vacation homes, rental properties, or even vacant land you may own. The ideal form of ownership varies depending on the type of property and your individual circumstances. Your Primary Residence How you own your primary residence affects your control over it while you are alive, […]

  There is a famous scene in The Wizard of Oz where Dorothy steps into the magical Land of Oz and is transported from a black-and-white world to a Technicolor one. The phrase in living color originates from TV and film advertising in the mid-20th century, when black-and-white imagery was standard and color television was a novelty. It […]

Many people have a childhood memory of somebody close to them passing away. Whether the deceased was a parent or grandparent, an aunt or uncle, or a family friend, it may have been their first real encounter facing grief or attending a funeral. That experience may have left a lasting impression, influencing what you want—or do not want—for […]

  You have probably heard of the gender pay gap. But there is also another common disparity: the estate planning gender gap. Although the two are interrelated to some extent—earning less than men puts women on an unequal path to investment and retirement savings, and women generally spend more than men on healthcare in retirement—the specific reasons behind […]

Many people own property in more than one state, such as an ocean-side vacation home or a rental property in a former home state. It is important to think about how that property will be handled after you pass away. Through proper estate planning, you can help minimize the burdensome court proceedings your loved ones may otherwise face […]

Noncitizen spouses are treated differently than US citizen spouses for estate and gift tax purposes.[1] They do not get the unlimited marital deduction. Married US citizen spouses can generally transfer unlimited amounts of money between each other during life or upon death in various qualifying ways without any gift or estate tax concerns. This unlimited marital deduction delays […]