Estate Plan Blueprint

05/26/2021

If you are an older individual who owns an investment property that would trigger a big taxable gain if sold- you may want to rethink about selling.

There are smarter tax strategies available to you.
https://www.marketwatch.com/story/seniors-may-want-to-avoid-the-temptation-to-sell-their-investment-property-even-if-its-soared-in-value-2019-06-24?fbclid=IwAR2NqDdKJYIDsNBhpagDIH00mgSsSkhlAVycPVGV_8XxnCmtVbSIr5stiRc

Selling could trigger a big — but avoidable — tax bill.

05/22/2021

As much as lawyers have tried to simplify legal documents over the years, there is some legalese that still might have you stumped.

Whether you're reading your own trust or perhaps a relative, here a beginner's guide to reading a trust. ➞
https://www.forbes.com/sites/christinefletcher/2019/06/17/a-beginners-guide-to-reading-a-trust/?ss=retirement&fbclid=IwAR1JNNgfcg0j6w5iW0U0z1iINGgpuk3cbVO5X4afTajFbdedrw-XfGakqzU&sh=5be639c341f7

You just received a draft copy of your trust from your estate planning attorney, or perhaps your aunt has died and you received a copy of her trust of which you are a beneficiary. This is what you need to know.

05/15/2021

Without proper planning or documentation, your online information may become inaccessible and eventually may cease to exist.

Estate plans aren't just for your physical assets! Check out this article to learn more about how to plan for your online accounts. ➞
https://www.thinkadvisor.com/2019/06/19/digital-estate-planning-how-to-plan-for-online-accounts/?slreturn=20190521100833&fbclid=IwAR1dVPnQrywxGwdT0SFAj4poFjRl3RJMCpg_m36p2S6JIs5x3VNR6mJuLeA

Without proper planning and documentation, online information may become inaccessible.

05/08/2021

Why should you make a living trust?

The biggest advantage of a living trust is that property left through the trust doesn't have to go through probate court.

The average probate drags on for months and in many cases, lawyer and court fees can eat up about 5% of the property.

Avoid the unnecessary stress on your loved ones- create a living trust.

05/01/2021

Estate planning mistakes can derail your plan and may make you miss out on some benefits.

As a part of your annual estate and financial plan check-up, discuss with your financial advisor if these three sinister tax blunders affect your estate plan.
https://www.forbes.com/sites/martinshenkman/2019/05/27/does-your-estate-plan-fall-prey-to-3-big-tax-issues/?fbclid=IwAR1dVPnQrywxGwdT0SFAj4poFjRl3RJMCpg_m36p2S6JIs5x3VNR6mJuLeA&sh=2f9bb49a7025

3 common estate planning mistakes include: ignoring formalities and income tax implications of FLPs and LLCs; not exercising swap or substitution powers for irrevocable trusts; and not planning for the situs of an irrevocable trust to achieve legal, asset protection, and state income tax benefits.

04/24/2021

If you haven't already incorporated an estate plan into your overall financial plan, you should re-consider.

The first step is understanding all of the jargon included in estate plans. Check out our infographic to help you get started!

04/17/2021

When the "Queen of Soul" Aretha Franklin died August 2018, it was believed that she hadn't prepared any estate plan for her $80 million in assets.

Recent developments have found that Franklin actually left three handwritten wills in her home in Detroit- but are these wills actually valid? And how can you avoid landing in the same situation?
https://www.marketwatch.com/story/are-handwritten-wills-valid-heres-what-you-can-learn-from-aretha-franklin-2019-06-10?fbclid=IwAR2Qm1-9k2p97Xe5vez809wDZV6lGVIdV_jPxvr00BQ-JPOYr1bwzOSH-xo

Will the Queen of Soul’s handwritten wills get any r-e-s-p-e-c-t?

04/10/2021

This may seem like an obvious one, but more than half of all American's die without a will and this can cause serious problems when tragedy strikes.
Exactly what you need for your estate plan/will depend on your assets and your family situation, but having one is key for a successful transition for you and your family.

04/03/2021

Blended families are a growing demographic in America, with over 40% of marriages including a spouse that has previously been married, and this statistic is on the rise.

Estate plans for blended families must account for family structure and assets that might be scattered amongst individuals.
https://info.wealthcounsel.com/blog/estate-planning-for-blended-families-wealthcounsel?utm_content=62683039&utm_medium=social&utm_source=facebook&fbclid=IwAR0l6WPXDUamT_efNRi_vWBoLUupk4zEFl5Mtx0_NIVij3w7aUTD2iz1DWA

Estate planning for blended families presents unique challenges. Find out why attorneys should be aware of extra considerations that apply.

03/27/2021

Estate Planning is NOT just for the wealthy. Many people may believe they do not need a will. However, an estate plan is key to a smooth transition for you and your family. Here's why:
https://www.marketwatch.com/story/why-wills-arent-just-for-the-wealthy-2015-03-17?fbclid=IwAR3id5w9rT4iaoSK-LruRg6HW5QOKT6OL1XCaLroiKspHTlxZD2rm7E23J0

If you have a family and a home or savings account, you should definitely have one.

03/20/2021

If you have time to plan a vacation or buy a car shouldn't you have time to plan your estate?
To learn why Estate Planning is important click here -->
https://www.investopedia.com/.../4-reasons-estate...

03/13/2021

Making a will is one of the last things on American’s minds, although it is something that must be done.

Are your assets protected? If not, attend one of our free workshops to learn how to build your eStatePlan.

Creating a will can be a straightforward process if you know the steps you need to take. We’ll show you how to do it.