When the 7520 rate is low—as it has been for 15 years—opportunities for good planning abound. However, what about when the rate is high? Few estate planners have needed to ask themselves that question until very recently.
If you haven’t had any experience with guardianship for adults with dementia, it’s likely you don’t understand just how complex it is. You are not alone.
A last will and testament is essential for every adult. It establishes one’s wishes for distributing their property, whether real or personal, after death.
Failing to properly plan for disability, death, or the ultimate transition of a family business can lead to disastrous financial consequences for both the business and the family.
While it might seem too soon to think about this uncomfortable topic, it’s still something that needs to be carefully planned to make everyone’s life a little easier as they handle the grief of losing a loved one.
Estate planning takes a lot of time, but another factor that needs to not be overlooked is having a power of attorney.
According to experts, despite increased phishing emails and robocalls, it is far more common for financial exploitation to be committed by people who know the victim, such as relatives, caregivers, neighbors, or ‘friends.’
An estate plan works like the operating system on your phone or computer. It runs in the background. However, it needs occasional updates to keep the plan current.
One goal of estate planning is to bring some certainty to a multitude of variables. Recent increases in inflation, interest rates and market volatility, however, are causing some experts to reassess their options.
Does a person need a Power of Attorney document if that person already has a Last Will and Testament (‘Will’)? It is a good question.
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