One of the biggest conundrums of estate planning is considering how, or even if, you can give money or property to your heirs in a manner that will help them.
Power of attorney is one of the most important legal forms for estate and elder care planning. Along with wills and trust documents, it is a critical document for arranging one’s affairs.
There are now more than 70 million Baby Boomers in the U.S. However, millions of adult children may not be prepared to make important decisions about their parents’ future if necessary, because of a lack of knowledge about their parents’ finances.
If you’re planning an inheritance, be careful about leaving these assets to a loved one. They may create more trouble than they’re worth.
Every so often, it’s smart to methodically go through your estate planning documents and see if any tweaks are needed. Here’s a checklist to guide you through that mission.
Vacation property can become a family legacy. Keeping your cabin, fishing lodge, hunting property or other special assets separate for future generations is often a special goal for a family.
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?
How can you prepare your children to handle the assets they’ll eventually inherit?
While most initial meetings with an estate planning attorney will result in some questions you likely have never considered, there are many ways in which you can prepare for a thoughtful and productive estate planning conference that will result in a better understanding of your goals and more efficient use of time with your attorney.
Early in 2021, you should communicate with your advisers and review several items about your 2020 planning, if that planning is to have any likelihood of succeeding.
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