Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. Clients spend lots of time, money, and energy planning their estates. Estate Planning attorneys help them by counseling these clients and preparing various documents to meet the goals of the client, such as a Will or Trust. An increasing part of American wealth is governed by beneficiary designations. According to Statista, Americans had over $32 trillion in … [Read more...] about Beneficiary Designations and the SECURE Act: Prior Designations
Beneficiary Designations and the SECURE Act: Eligible Designated Beneficiaries
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. Clients spend lots of time, money, and energy planning their estates. Estate Planning attorneys help them by counseling these clients and preparing various documents to meet the goals of the client, such as a Will or Trust. An increasing part of American wealth is governed by beneficiary designations. According to Statista, Americans had over $32 trillion in … [Read more...] about Beneficiary Designations and the SECURE Act: Eligible Designated Beneficiaries
Beneficiary Designations and the SECURE Act Basics
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. Clients spend lots of time, money, and energy planning their estates. Estate Planning attorneys help them by counseling these clients and preparing various documents to meet the goals of the client, such as a Will or Trust. An increasing part of American wealth is governed by beneficiary designations. According to Statista, Americans had over $32 trillion in … [Read more...] about Beneficiary Designations and the SECURE Act Basics
You Need These Five Estate Planning Documents
A lot of people put estate planning on the back burner because it seems like an overwhelming task, and they don’t know where to begin. This is understandable to some extent, and in this post, we will look at five must-have documents to provide you with a starting point. Asset Transfers The first order of business will be to state your wishes with regard to the way you want your assets to be distributed after your passing. A will is a possibility, but this document is really not the right … [Read more...] about You Need These Five Estate Planning Documents
Joint Tenancy Problems in Estate Planning
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. Sometimes people use Joint Tenancy as a simple way to do Estate Planning. This can have drawbacks, sometimes serious and unexpected. First, why is Joint Tenancy a simple way to do Estate Planning? At the death of a joint tenant, the property automatically transfers by operation of law to the remaining joint tenant(s). This can be attractive because it bypasses the … [Read more...] about Joint Tenancy Problems in Estate Planning
Updating Your Plan: Beneficiary Designations
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is a bonus part of a series of articles on updating your plan. The first article examined the importance of updating your Powers of Attorney, both Financial and Medical. The second part of the series looked at the importance of updating your primary estate planning document, such as your Trust or Will. Together, these documents are the keystone in even the most … [Read more...] about Updating Your Plan: Beneficiary Designations
Updating Your Plan: Your Trust or Will
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is the second in a two-part series of articles on updating your plan. This first article examined the importance of updating the Powers of Attorney, both Financial and Medical. This second part of the series looks at the importance of updating your primary estate planning document, such as your trust or will. Together, these documents form the core of even the … [Read more...] about Updating Your Plan: Your Trust or Will
Updating Your Plan: Powers of Attorney
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is the first in a two-part series of articles on updating your plan. This first article examines the importance of updating Powers of Attorney, both Financial and Medical. The second part of the series looks at the importance of updating your primary estate planning documents, such as your Trust or Will. Together, these documents are the keystone in even the most … [Read more...] about Updating Your Plan: Powers of Attorney
Planning for Incapacity
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. Every year, many people in the United States are unable to manage their own affairs due to incapacity. They might be young or old. They may have had a gradual decline or a sudden onset. They might have had a stroke, heart attack, or some disabling disease such as Parkinson’s, Alzheimer’s, or COVID-19. If you are incapacitated without having prepared, it can be an … [Read more...] about Planning for Incapacity
Preparing for the Unexpected…and the Eventual
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. All of us face difficulties and tragedies in our lives. Some of these difficulties are expected and some are unexpected. 2020 has been a year of many unexpected difficulties. While all of us get sick from time to time, nobody anticipated the COVID-19 pandemic. Over 15 million Americans have caught the disease, resulting in the deaths of over 290,000 … [Read more...] about Preparing for the Unexpected…and the Eventual
