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Common Estate Planning Mistakes and How to Avoid Them

Even those with the best of intentions can fall into the trap of estate planning misinformation. Estate planning attorneys frequently hear rumors and ill advice disguised as facts.

Posted on: September 22, 2021

States with the Best Tax Rates for Retirees

The Tax Cuts and Jobs Act raised the federal estate tax exemption considerably. Before the tax reform law, it was $5.49 million per person for 2017. It's up to $11.7 million for 2021 ($23.4 million for a married couple).

Posted on: September 21, 2021

Should I Sign a Prenup before I Get Married again at 60?

Those marrying at older ages should at least consider a prenuptial agreement, since both spouses may come into a marriage with significant assets, children, or both.

Posted on: September 20, 2021

What Should Same-Sex Couples Know about Estate Planning?

Some people might assume that estate planning is only for the wealthy. However, the reality is that anyone can, and should, engage in estate planning, regardless of wealth. Although creating an estate plan for same-sex couples isn't totally different than for heterosexual couples, there are some considerations that are unique to same-sex couples.

Posted on: September 17, 2021

Should I Try Do-It-Yourself Estate Planning?

Your DIY estate plan might miss important details.

Posted on: September 16, 2021

How Does Probate Work?

There is a general understanding that every adult should have a last will and testament. However, for most people, exactly how that will is used remains a mystery.

Posted on: September 15, 2021

Do You Need Power of Attorney If You Have a Joint Account?

As you know, a power of attorney (POA) allows another person, the Attorney-in-Fact (AIF), to conduct business on behalf of the principal. The POA authorizes the AIF to sign for and on behalf of the principal.

Posted on: September 14, 2021

What Happens If You Don’t Name Beneficiaries?

If you’ve had an IRA and a 401(k) for many years, you may occasionally ask yourself some questions: ‘Am I contributing enough?’ ‘Am I still funding these accounts with the right mix of investments for my goals and risk tolerance?

Posted on: September 13, 2021

What Not to Do when Creating an Estate Plan

Sometimes people attempt to make an estate plan online without consulting legal and financial professionals to avoid the higher cost. However, everyone’s situation is unique, and using a boilerplate estate plan can lead to mistakes.

Posted on: September 10, 2021

How Do I Sell a Home in an Irrevocable Trust?

I’m a trustee selling a home in irrevocable trust for a parent who died. There are two beneficiaries who will get the sale proceeds with a stepped-up basis. I’m filing Form 1041 but do I still have to file a Form 1040 to report anything for the beneficiaries?

Posted on: September 9, 2021