Blog

Beware if your estate plan leaves specific assets to specific heirs
Planning your estate around specific assets is risky and, in most cases, should be avoided. If you leave specific assets — such as homes, cars or stock — to specific people, you may inadvertently disinherit them.Illustrating the problem Illustrating the problem Let’s say Debbie has three children — Abbie, Mary Kate and Lizzie — and ...

Read The Full Post


Make health care decisions while you’re healthy
Estate planning isn’t just about what happens to your assets after you die. It’s also about protecting yourself and your loved ones. This includes having a plan for making critical medical decisions in the event you’re unable to make them yourself. And, as with other aspects of your estate plan, the time to act is ...

Read The Full Post


Does your estate plan include a formula funding clause?
The gift and estate tax exemption is higher than it’s ever been, thanks to the Tax Cuts and Jobs Act (TCJA), which temporarily doubled the exemption to an inflation-adjusted $10 million ($20 million for married couples who design their estate plans properly). This year, the exemption amount is $11.4 million ($22.8 million for married couples). If you’re married and ...

Read The Full Post


For spouses of U.S. citizens who have been granted conditional permanent residence status for a period of two years, you will need to file form I-751 to remove the conditional status during the 90 days before your second anniversary as a conditional resident. Unfortunately, like most other USCIS applications, there is a considerable backlog and ...

Read The Full Post


If You’re Driven to Transfer a Vehicle’s Ownership to a Trust, Know the Risks
A revocable trust — often referred to as a “living trust” — can help ensure smooth management of your assets during life and avoid probate at death. And you may know that the trust isn’t effective unless you “fund” it — that is, transfer ownership of your assets to the trust. But what about assets ...

Read The Full Post


Estate Planning Lite: College-Aged Children Need a Basic Estate Plan
If your son or daughter currently is home from college on winter break, now is a good time to sit down and discuss a few estate planning documents he or she should have at this stage of life. Let’s take a closer look at four such documents: Health care power of attorney. With a health ...

Read The Full Post