2 Key Differences Between a Will and a Trust.

We frequently get questions asking us about the difference between a will and a trust. While there are several important differences, here are just 2: Differences in Form and Purpose. Your will (“Last Will and Testament”) is a legal document that states your final wishes and gives instructions about how to divide up your property [...]

By |2019-05-06T20:42:54+00:00August 20th, 2018|Estate Planning, Trusts, Wills|0 Comments

A Few Things To Know About Intestacy Laws.

If you are going to die —and we all are—you might as well do it right. If you die without having made a will, who gets what is left entirely up to your state’s intestacy laws to decide. If you don’t know what that means or what the effect of the intestacy laws would be [...]

By |2019-05-06T20:42:54+00:00August 16th, 2018|Estate Planning, Trusts, Wills|0 Comments

What is Intestate Succession Anyway?

When someone dies, we talk about them having died “testate” or “intestate.” If a person dies “testate” that means that they had a will. If they die “intestate,” they died without a will. Why does it matter? Because if you die without a will, the law decides which one of your relatives will get your [...]

By |2019-05-06T20:42:55+00:00August 13th, 2018|Estate Planning, Trusts, Wills|0 Comments

: All Trusts Are Not the Same. A Look at the Flexibility of Trusts in Estate Planning.

In the practice of trusts and estates, we love wills. But we love trusts even more. Why? Because trusts are one of the most flexible estate planning tools we have. Trusts and Estate Planning. Trusts can protect your property, save on estate taxes, and help you avoid probate. Trusts can do many things and they [...]

By |2019-05-06T20:42:55+00:00August 9th, 2018|Estate Planning, Trusts, Wills|0 Comments

Estate-Related Taxes You Need to Know About.

There are many things to know about trusts and estates— and how taxes affect your estate is one of them. Estate-related Taxes. Depending on the value of your estate, there may be some federal taxes that you do not have to deal with, but for the most part, you or your surviving beneficiaries may have [...]

By |2019-05-06T20:42:55+00:00August 6th, 2018|Estate Planning, Trusts, Wills|0 Comments

Should You Leave Your Home To Loved Ones Through Your Will or a Beneficiary Deed?

Decisions, decisions, decisions. You can leave your home to your heirs through your will, of course. Or, you can use a beneficiary deed. Choosing to Leave Your Home Through Your Will. Your Last Will and Testament (“Will”) determines how your property is divided when you die. You can (and most people do) leave your real [...]

By |2019-05-06T20:42:55+00:00July 30th, 2018|Estate Planning, Trusts, Wills|0 Comments

A Brief Look at Inherited Retirement Accounts.

If you have any type of retirement account — a 401(k), IRA or pension—estate planning for these accounts is critical. Inherited Retirement Accounts. For tax purposes, retirement accounts are considered to be “income in respect of a decedent.” As such, any amounts withdrawn from non-Roth accounts are subject to income tax at the beneficiary’s ordinary [...]

By |2019-05-06T20:42:55+00:00July 27th, 2018|Estate Planning, Trusts, Wills|0 Comments

Does Having a “No Contest” Clause in Your Will Really Keep People from Contesting it?

One of the things you want to try to avoid when you die is having someone contest your Will. (The other thing is probate. But that is the subject of other posts.) Why is that, you ask? Because will contests embroil your estate and family members in bitter and often prolonged legal battles. They can [...]

By |2019-05-06T20:43:13+00:00July 9th, 2018|Estate Planning, Trusts, Wills|0 Comments

How to Have an Income for Life, Avoid Taxes and Give to Charity.

Ever wish you could secure an income for life, avoid taxes and contribute to your favorite charity at the same time? Well, you can. Here is how. Consider Setting Up a Charitable Remainder Trust. Talk to your estate planning attorney about setting up a charitable trust. A charitable remainder trust is an estate planning tool [...]

By |2019-05-06T20:43:13+00:00July 6th, 2018|Estate Planning, Trusts, Wills|0 Comments

Why Estate Planning For Blended Families Can Get Tricky.

According to research, over 95.5 million people have some kind of step-relationship. Given the high divorce rates, this is not surprising. If you are divorced, widowed, or remarried, it is very important that your estate planning documents are carefully drafted by knowledgeable trusts and estates counsel. Why not just do it yourself? Because in a [...]

By |2019-05-06T20:43:13+00:00July 4th, 2018|Estate Planning, Trusts, Wills|0 Comments
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