Scammers will use any leverage possible to separate you from your money. This includes preying upon a grandparent’s love and concern for their grandchildren. The so-called grandparent scams are among the most popular scams targeting the elderly and rely upon details gleaned from social media sites to make the call seem realistic. It’s important to recognize the signs of potential scams and understand how to guard against them. Read on to learn more. … [Read more...] about The Seedier Side of the Holiday Season
Exploring Elder Abuse
As seniors live longer and technology makes it easier for everyone to stay connected, elder abuse continues to rise. Estate planning attorneys may find themselves on the front-line of these matters. Because elder abuse takes on many forms, it’s important for practitioners and consumers alike to have the skills necessary to recognize the signs of elder abuse. Read on to learn more. … [Read more...] about Exploring Elder Abuse
The Horrors of Dying Intestate
Many souls believe that if they lack means, they do not need an Estate Plan. Nothing could be further from the truth. If you die without an Estate Plan, it’s like opting for a trick on Halloween and the results of both can be downright scary. Read on to learn more. … [Read more...] about The Horrors of Dying Intestate
The SECURE Act – the Gift That Keeps On Giving
The SECURE Act of 2019 altered the landscape for IRAs significantly when signed into law. Just when advisors gained a level of comfort with the SECURE Act, the United States Treasury Department issued Regulations in early 2022 requiring RMDs under the 10-year Rule in years 1-9. After realizing that many individuals were unaware of that requirement, the Internal Revenue Service responded by issuing Notice 2022-53 suspending the requirement to take RMDS in 2021 and 2022. SECURE 2.0 came at the end … [Read more...] about The SECURE Act – the Gift That Keeps On Giving
National Make-a-Will Month
Although many Estate Plans have a Revocable Trust as the foundation for the plan, Wills play an important role in a comprehensive Estate Plan. Alarmingly, most Americans don’t have a Will even though they know it’s important. As National Make-a-Will month comes to a close, let’s explore the often overlooked and neglected Estate Planning document, the Will. Read on to learn more. … [Read more...] about National Make-a-Will Month
What We Can All Learn from Diller v. Richardson – Part II
Clients create Estate Plans to work in a certain way. They raise their concerns with the drafting attorney and a qualified Estate Planning attorney includes safeguards to ensure that the plan works as intended and desired yet contains provisions flexible enough to change if circumstances require a change. Almost all of us have read or heard of cases in which the plan did not work as intended and litigation ensured. In fact, we often read about them in the news. The Diller v. Richardson case … [Read more...] about What We Can All Learn from Diller v. Richardson – Part II
What We Can All Learn from Diller v. Richardson
Clients create Estate Plans to work in a certain way. They raise their concerns with the drafting attorney and a qualified Estate Planning attorney includes safeguards to ensure that the plan works as intended and desired yet contains provisions flexible enough to change if circumstances require a change. Almost all of us have read or heard of cases in which the plan did not work as intended and litigation ensured. In fact, we often read about them in the news. The Diller v. Richardson case … [Read more...] about What We Can All Learn from Diller v. Richardson
Gen X – This One’s for You (Really Every Generation Should Read This)
As the Baby Boomer Generation retires and eventually dies, the greatest transfer of wealth will occur and according to many sources, it will dwarf any prior wealth transfer. This transfer gives those anticipated to inherit the wealth a great opportunity to open the lines of communication with their families to plan for the shift that has already started. Read on to learn more. … [Read more...] about Gen X – This One’s for You (Really Every Generation Should Read This)
The Wonder of Wills
Many Estate Planning attorneys have fielded a question regarding whether an Estate Plan was necessary, or whether a Will is necessary if the client has a Revocable Trust. Let’s settle the debate now. Even in an Estate Plan based upon a Revocable Trust, Wills play an important role. Everyone with an Estate Plan needs to have a Will because certain things can only be done with a Will. Read on to learn more. … [Read more...] about The Wonder of Wills
How Tax and Non-Tax Considerations Impact Estate Planning – Part I
Estate planning often focuses on taxes at the federal level and often overlooks issues that occur at the state level. For anyone desiring to undertake comprehensive estate planning, it’s important to understand the impact that the taxes imposed by the individual’s state of residence have on the plan as well as the character and type of assets allowed by the state. Estate Planning is complex and requires an expert in these matters to advise clients properly. Read on to learn more. … [Read more...] about How Tax and Non-Tax Considerations Impact Estate Planning – Part I
