Estate Planning In A Socially Distanced Environment
As many states continue to struggle with the current surge in COVID-19 cases, the ‘new normal’ demands continued social distancing in many areas of life. What does this mean for
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Can A Broken Trust Be Fixed?
An irrevocable trust has long been a key component of many estate plans. But what if it no longer serves your purposes? Is it too late to change it? Depending
Moving Your Trust to Another State Requires Planning
In some cases, it may be desirable to move a trust to a more favorable jurisdiction. However, moving a trust from one state to another can present significant risks, so
Help Guide Your Family with a Road Map for Your Estate Plan
You have likely spent a lot of time working with your advisor to plan your estate. While documents such as your will, various trusts, and a power of attorney are
Beware of the ‘Reciprocal Trust’ Doctrine
If you and your spouse have similar irrevocable trusts that benefit each other, it is important to know that the trusts might be subject to the ‘reciprocal trust’ doctrine. In
Spendthrift Trusts Are Not Just for Spendthrifts
Now that the federal gift and estate tax exemption has reached an inflation-adjusted $11.7 million for 2021, fewer estates are subject to the federal tax. And even though President Biden
Creating an Education Legacy Using a Family Education Trust
For many people, an important goal of estate planning is to leave a legacy for their children, grandchildren, and future generations. And what better way to do that than to
Does Your Estate Plan Clearly Communicate Your Wishes?
Precise language is critical in wills, trusts, and other estate planning documents. A lack of clarity may be an invitation to litigation. An example of this is the dispute that
Balancing Estate & Income Tax Planning
When planning your estate, it is critical to balance estate tax planning and income tax planning. The problem is that, currently, strategies for reducing estate taxes generally focus on removing
Avoid These Four Estate Planning Deadly Sins
According to literature, the “seven deadly sins” are lust, gluttony, greed, laziness, wrath, envy, and pride. Although individuals may be guilty of these from time to time, other types of