Legacy Design Strategies
Omaha, NE, Minot, ND and Iowa Fall, IA Estate Planning and Elder Law Firm

Estate Planning and Elder Law Blog

Sort by Category:

What Can I Do with an Inherited 401(k)?

An inherited 401(k) is simply a 401(k) that’s been passed on to a beneficiary on the death of the account owner. If the original 401(k) owner is married, the inheritor is usually their spouse. The exception to the rule is if their spouse signs a waiver allowing them to name someone else as their plan beneficiary.

Posted on: December 10, 2019

How Veterans Benefits Can Help Pay for Senior Care

You should not delay in applying for a VA pension. It takes about nine months, on the average, to go through the application process and get approval of your VA pension request.

Posted on: December 9, 2019

What Is an Ethical Will and Do You Need One?

An ethical will—also referred to as a legacy letter—can be a valuable complement to your legal will, as well as a wonderful gift to your family or other loved ones.

Posted on: December 6, 2019

Protect the Family Farm with Advance Planning

Planning for your farm’s future has never been more urgent. With one-third of United States farmers older than age 65, it’s estimated that 70% of farmland will change hands in the next 15 years.

Posted on: December 6, 2019

Will My Heirs Need to Be Ready to Pay Estate Taxes?

I'm in my 80s and have a substantial sum in retirement accounts that I plan to leave to my children. Will they have to pay estate taxes on it?

Posted on: December 5, 2019

Strategies for the “Sandwich” Generation

You do not have to be raising young children to be in the sandwich generation. Your children might be adults but need financial help, because of student loans or other financial pressures.

Posted on: December 3, 2019

What Should I Do If I Strike it Rich?

Whether you've just signed a multi-million-dollar contract or won the lottery, here are some tips that will help you keep and grow your wealth responsibly.

Posted on: December 2, 2019

As a Trust Beneficiary, Am I Required to Pay Taxes?

Beneficiaries of a trust typically pay taxes on the distributions they receive from the trust's income, rather than the trust itself paying the tax. However, such beneficiaries are not subject to taxes on distributions from the trust's principal.

Posted on: November 29, 2019

How a Charitable Remainder Trust Works

A charitable remainder trust can be used to help accomplish numerous financial planning objectives. However, complex legal requirements must be met to secure many of the benefits a CRT offers.

Posted on: November 28, 2019

Blended Families Need More Thoughtful Estate Plans

When the first spouse dies, the surviving spouse may not remain as close with his or her stepchildren. Small irritations which were overlooked during the lifetime of the spouse who died, may become outright disputes.

Posted on: November 27, 2019