Litherland, Kennedy & Associates recently returned from the American Academy of Estate Planning Attorneys’ exclusive Spring Summit, held May 1–5 in Savannah, Georgia. This annual gathering brought together top estate planning professionals from across the country for a week of learning, collaboration, and innovation. This year’s theme, “Reflect. Refuel. Reimagine.”, encouraged attorneys to look back on their successes, recharge their professional skills, and explore forward-thinking … [Read more...] about Litherland, Kennedy & Associates Gains Fresh Insight at Exclusive Estate Planning Legal Summit in Savannah
Refresh Your Estate and Financial Plans this Spring – Smart Strategies to Protect Your Legacy
With the arrival of spring, many experience a sense of renewal. This can inspire a desire to tackle some spring-cleaning projects and take satisfaction in the resulting sense of accomplishment. Refreshing your estate and financial plans can deliver a similar feeling of reassurance by ensuring that your documents align with your wishes. Getting started can be the most challenging part of any spring-cleaning project. If you are looking to protect your wealth and legacy for the future, consider … [Read more...] about Refresh Your Estate and Financial Plans this Spring – Smart Strategies to Protect Your Legacy
Are Irrevocable Trusts Really Irrevocable – Part II
For many years Estate Planning attorneys touted irrevocable trusts as an immutable way to set an estate plan in stone. As more and more states have adopted the Uniform Trust Code that has changed. Provisions of the Uniform Trust Code allow for modification of an otherwise irrevocable trust which has altered the landscape of Estate Planning. Irrevocable Trusts have long been an effective, albeit static, estate planning tool, with the ability to alter irrevocable trusts, they provide more … [Read more...] about Are Irrevocable Trusts Really Irrevocable – Part II
Planning for Incapacity: A Crucial Component of Your Estate Plan
The Reality of Aging and Incapacity Planning As you transition into middle age, you may begin to notice changes in your physical capabilities. While this is a natural part of aging, most individuals in this stage can still manage their daily needs independently. However, it can be difficult to envision a time when assistance with basic tasks may become necessary. Longevity statistics emphasize the importance of preparing for this possibility through a well-thought-out incapacity planning … [Read more...] about Planning for Incapacity: A Crucial Component of Your Estate Plan
Put an Estate Plan in Place in 2025
As we welcome 2025, it's the perfect time to reflect on our goals and priorities. One crucial task that often gets overlooked is estate planning. Setting up an estate plan ensures that your assets are distributed according to your wishes and that your loved ones are taken care of. Let's explore why 2025 is the ideal year to put an estate plan in place. Why 2025 Is the Year to Prioritize Estate Planning Estate planning isn't just for the wealthy or the elderly. It's a vital step for anyone … [Read more...] about Put an Estate Plan in Place in 2025
Estate Planning Considerations for 2025
Estate planning is essential for safeguarding your legacy and ensuring your wishes are honored. As you prepare for 2025, new laws, tax adjustments, and evolving family dynamics may affect your estate plan. Keeping your documents up-to-date and tailored to your circumstances is vital. This guide highlights key considerations for your estate plan in the coming year. Review Your Beneficiary Designations Beneficiary designations on retirement accounts, life insurance policies, and … [Read more...] about Estate Planning Considerations for 2025
2025 Federal Estate and Gift Tax Update (VIDEO)
In this vlog, Litherland, Kennedy & Associates Attorney Justin M. Kennedy discusses the 2025 Estate and Gift Tax Exemptions. Transcript: Hello, I'm attorney Justin M. Kennedy with Litherland, Kennedy and Associates, a California estate planning and elder care law firm. I want to let you know that the IRS has recently released the updated Federal Estate and Gift tax values for 2025. Currently, in 2024, the federal estate and gift tax exemption is $13.61 million … [Read more...] about 2025 Federal Estate and Gift Tax Update (VIDEO)
Estate Planning Awareness Month: Protect Your Loved Ones
October is Estate Planning Awareness Month, and it offers a reminder to protect your loved ones with a well-structured plan. Regardless of your age, having an estate plan in place is a crucial step toward ensuring your family’s future is secure. Estate planning is not just for the elderly or the wealthy; it’s a responsible decision that everyone should consider. Let’s look at the subject from an overview. The Misconception of Youth and Estate Planning Many people believe that estate … [Read more...] about Estate Planning Awareness Month: Protect Your Loved Ones
Estate Planning: There’s Something Here for Everyone – Part I
Despite knowing that they should have an estate plan, many individuals give excuses for failing to create an Estate Plan. They may rely upon advice from seemingly well-intentioned individuals that if they do not have a taxable estate, they don’t need a plan, or that each state has its own set of rules regarding distribution that gives assets to beneficiaries upon death. Some folks go so far as to suggest methods to avoid probate without truly considering the impact of those suggestions. This … [Read more...] about Estate Planning: There’s Something Here for Everyone – Part I
How to Start the Estate Planning Conversation Today
Has your family discussed estate planning? American families are facing a future crisis. A 2023 survey found that only one-third of U.S. adults have an estate plan. Though that statistic increases to 44% for those age 55 and older, it is still a wildly insufficient number that will lead to confusion and stress for many. October 21 kicks off National Estate Planning Awareness Week, and it is clear that many need help understanding the benefits of getting their affairs in order. As estate … [Read more...] about How to Start the Estate Planning Conversation Today
