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)
R-E-S-P-E-C-T Find Out What It Means To…Your Estate Plan
Individuals often have reservations about seeking out an attorney’s help with their Estate Plan. Sometimes they worry about the cost, other times they think that they can do it on their own, and sometimes they die before the thought of creating an Estate Plan ever crosses their mind. Unfortunately, the issues that arise from a lack of proper Estate Planning on death don’t care who we are. As this blog demonstrates, even celebrities struggle with creating a comprehensive Estate Plan. Read on to … [Read more...] about R-E-S-P-E-C-T Find Out What It Means To…Your Estate Plan
Who Will Administer My Living Trust?
If you are under the impression that you should use a will as the foundation of your estate plan, you should understand some differences between a will and a living trust. Drawbacks and Limitations When a will is used, your heirs will receive lump-sum bequests. Creditors or litigants that have judgments against an heir can sweep right in and go after their inheritance. Plus, a person that spends too freely would have free reign to burn through the money without any guidance or … [Read more...] about Who Will Administer My Living Trust?
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
Aretha Franklin’s Unsettled Estate (VIDEO)
In this vlog, Attorney Justin M. Kennedy discusses Aretha Franklin's unsettled estate, which, five years after her death, is going to trial due to the discovery of two different handwritten wills. Note: A jury in Michigan has ruled that a handwritten will found under Aretha Franklin's couch cushion is valid as her will, according to the Associated Press. … [Read more...] about Aretha Franklin’s Unsettled Estate (VIDEO)
Five Tips for Planning Your Estate Effectively
A lot of people without estate plans do not take action because they don’t know where to begin. With this in mind, let’s look at five tips that should provide some insight and motivation. Focus on Your Family Estate planning can seem like a somber responsibility that is easy to put off, and the years of inaction can start to add up. You may know that you should put a plan in place, but it is easy to convince yourself that there is time to do it later. Indeed, you may live a long and full … [Read more...] about Five Tips for Planning Your Estate Effectively
How Tax and Non-Tax Considerations Impact Estate Planning – Part II
People often believe that Estate Planning is a “simple” process designed only for those whose estates will exceed the Applicable Exclusion Amount of $12.92 million in 2023. That myopic view causes many who should undertake Estate Planning to skip it altogether or to look for ways to complete the planning on their own without the services of a qualified Estate Planning attorney. As the last article in this two-part series demonstrated, numerous taxes impact Estate Planning. This second part of … [Read more...] about How Tax and Non-Tax Considerations Impact Estate Planning – Part II
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
2023 Community Shred Day to Benefit the Alzheimer’s Association
Thank you to everyone who participated in our Community Shred Day to benefit the Alzheimer's Association. Together we raised more than $3,400 to help the Alzheimer's Association provide 24/7 care and support and advance research toward methods of prevention, treatment and, ultimately, a cure. #ALZ #LitherlandKennedy #ENDALZ #Walk2EndAlz Join our Walk to End Alzheimer's Team here: http://act.alz.org/goto/LitherlandKennedy. … [Read more...] about 2023 Community Shred Day to Benefit the Alzheimer’s Association
Litherland, Kennedy & Associates Attends Exclusive Conference and Celebrates Legal Milestone
Leading Silicon Valley estate planning and elder care law firm Litherland, Kennedy & Associates attended one of the nation’s premier legal education conferences in Chicago, IL from April 27 through April 30. The American Academy of Estate Planning Attorneys hosted their 30th annual Spring Summit which included over 90 estate planning law firms from around the country. The American Academy is committed to helping its Member attorneys innovate the way they practice law. The conference focused … [Read more...] about Litherland, Kennedy & Associates Attends Exclusive Conference and Celebrates Legal Milestone
