Browse Our Estate Planning Articles
Some of these articles have been written by our law firm and other articles are written by the American Academy of Estate Planning Attorneys and compliments of our law firm. Any feedback or questions about the articles can be addressed by contacting our office.
What Successful People Do
The article briefly looks at a few billionaires, that all of them have in common that they plan, and that they have done estate planning. The article goes on to show how with Legacy Wealth Planning the reader can do them one better.
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The Prime of Life
This article recites the tragic story of Heath Ledger and how he omitted his daughter from his Will.
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IRS Clamps Down on Wesley Snipes and Other Tax Protesters
This article highlights the recent trial of Wesley Snipes on criminal tax protester charges and transitions into a discussion of the fraudulent promotion of trusts, such as "pure trusts," "constitutional trusts" and "common law trusts" as a purported means of avoid income taxation. The article concludes by recommending that the consumer consult with a knowledgeable estate planning attorney for the preparation of their trust and estate plan.
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Legacy Planning: A Holistic Approach
This article looks at the latest developments in estate planning: "Legacy Planning." Legacy Planning focuses on the values and guidance to be relayed to future generations, not just wealth. The article discusses The Family Wealth Trust and its two subtrusts, the Family Access Trust and the Family Sentry Trust and how they can protect the beneficiaries from divorce and creditors.
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Planning for Unforeseen Circumstances
The article examines the importance of drafting flexibility into your estate plan to adjust for changes in values, circumstances, and interests.
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Do You Know Who Your Beneficiaries Are?
The article looks at several types of items that pass outside a Will or Trust. In particular, it examines retirement beneficiary designations and new rules by Vanguard Group which might have disastrous results for the unaware.
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Putting Your Legal Life Back Together After Divorce
Divorce is common today. This article examines how to put your legal affairs back in order after a divorce.
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Three Myths Women Have About Estate Planning
This article looks at several myths women have about estate planning. It includes some statistics that show why estate planning has more impact on women.
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Your 401k or IRA: A Problem Asset?
The article looks at IRAs and 401ks and how we need to save for retirement. Then it looks at the tax problems these plans create. It examines the stretch out available with the FRPT. It also examines using distributions to fund life insurance.
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What Happens in My Initial Estate Planning Consultation?
This article describes what happens in the initial estate planning consultation, including the questions asked, the discussion of goals, etc. The article also references a CNNfn segment that talked about the importance of stringent continuing education requirements, like those of the American Academy of Estate Planning Attorneys.
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New Flexibilities for Partners, Children, and Others
The article examines the new "non-spousal rollover" provisions of the Pension Protection Act of 2006.
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Let Your Voice Be Heard
The article examines the case of Terri Schiavo and how a clear expression of her wishes could have avoided problems.
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Why is My Trust so Long?
Examines why a trust document must be long in order to be clear. Gives
examples of issues requiring clarification.
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Your Grandkids Could Retire as Millionaires
You can set up an irrevocable trust for grandkids and with relatively small contributions make them millionaires by retirement.
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Study Shows Most Americans Unprepared
This article examines the percentage of Americans with various basic estate planning documents and explains each document.
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Do I Need to Plan If I Have Joint Tenancy Property?
We all have the friends or family that think they are the armchair experts on everything. They want to walk on your back when you are in agony. They told you Enron was a hot stock to buy. And, they tell you that all you need is to hold assets in joint tenancy.
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Gay Marriage - An Estate Planning Perspective
There are many ways in which rights of same-sex couples differ from those of heterosexual couples. Perhaps top of this list is that heterosexual couples can legally marry in every state and that marriage is legally recognized in every state and by the federal government.
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Estate Planning: Not Just For the Rich
Do you think estate planning is just for the rich? Think again. Few Americans are super wealthy. You do not have to be a billionaire to make Forbes Magazines list of the 400 Richest People in America. $600 million puts you on the list, like Aubrey Chernick. While Aubrey has $600 million, he is otherwise like many of the rest of us. Hes middle-aged (54), married, and has three children.
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An Executor's Responsibilities
If you are appointed as executor (also termed Personal Representative in some states) of someone's Will, the person who chose you as his or her executor has a great deal of trust in you. That person views you as someone who has the knowledge, the capability, and the understanding to manage his or her affairs in a manner that would fulfill his or her expectations. You should consider it an honor, but one with a great deal of responsibility.
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Common Myths about Estate Planning
A great deal of confusion remains over what constitutes a proper Estate Plan. Rumors, statements taken out of context, gossip, some bad characters that have bilked the innocent, and even turf battles over business interests have created widely held beliefs that just aren't correct. These stories have become myths. They can be harmful to you and your loved ones.
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Probate: What Is It and Why Should You Try to Avoid It?
The term probate is often thrown around as freely as the daily paper. People know the word, but they don't know the implications. Maybe they knew someone who "went through" probate after the loss of a family member. Generally speaking however, most don't really know what probate is or how it works, much less how to avoid it. They only know that it is something that happens to a person's estate after they die, and many assume it happens to everyone. In reality, probate does not happen to every estate and can often be avoided.
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When Do-It-Yourself Estate Planners Have Fools for Clients
As a growing number of Americans use software or do-it-yourself kits to do their own esate planning, many are finding that the end results are far from what they'd hoped. With several real-life case studies of do-it-yourself disasters, this article addresses the problems that consumers face when they try to avoid legal counsel for this most important task.
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