Studies are conducted periodically to gain an understanding of the estate planning preparedness of adults in the United States. Unfortunately, the results are never encouraging.Most people that are over 65 have a will or some other estate planning document, but a significant percentage of people in this age group do not. The vast majority of Americans that are under the age of 40 are completely unprepared.If you are a young adult and you are single, you should have a will or a trust, but … [Read more...] about Estate Planning: Make Today the Day
COVID-19 aka the Coronavirus: A Reminder to be Prepared
by Attorney Maggie A. LaBranch-GonzalesLitherland, Kennedy & Associates, APC, Attorneys at Law If you’ve heard me speak in our seminars or workshops, or you’ve had the pleasure of meeting with me at the office, I can imagine you hearing my voice right now (kindly) reminding you that we all die. (Way to be blunt, right, Maggie?) But, seriously, for me, the most important part of Estate Planning is not necessarily what happens when you’ve passed away, but whether you are adequately … [Read more...] about COVID-19 aka the Coronavirus: A Reminder to be Prepared
The SECURE Act – How to Limit the Income Tax Hit to Those Inheriting Your IRA (Video)
The SECURE Act, which became law in 2020, greatly restricts inherited IRAs and imposes a ten-year period in which the inherited IRA needs to be completely withdrawn. In this video, Attorney Justin M. Kennedy discusses how to Limit the Income Tax hit to those Inheriting your IRA under the SECURE Act.Litherland, Kennedy & Associates, APC, Attorneys at Law are members of the American Academy of Estate Planning Attorneys. If you would like to learn more about the importance of estate … [Read more...] about The SECURE Act – How to Limit the Income Tax Hit to Those Inheriting Your IRA (Video)
Estate Planning Conference Discusses SECURE Act and More
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education,American Academy of Estate Planning Attorneys, Inc.The Heckerling conference in Estate Planning is the country’s largest professional gathering in Estate Planning. The conference examines many areas of interest to Estate Planning and Elder Law professionals. It pays particular attention to items of current interest.As the SECURE Act passed in late-December 2019, it was discussed in many sessions. The SECURE Act … [Read more...] about Estate Planning Conference Discusses SECURE Act and More
Estate Planning: Steps to Take Before Remarriage
Our attorneys always emphasize the fact that estate planning is an ongoing process. If you were to put an estate plan in place today, it would be based on the circumstances of your life at this moment. As we all know, the only constant is change, so the picture will probably look quite a bit different years from now.The divorce rate for first marriages has gone steadily down over the last 30 or 40 years, but it is still rather high. Clearly, many people that get divorced ultimately remarry, … [Read more...] about Estate Planning: Steps to Take Before Remarriage
4 Roles for a Will (Video)
We see Wills in movies and TV shows all the time – people are always talking about creating or updating their Wills, but what does a Will do? In this video, Attorney Justin M. Kennedy discusses the 4 roles of a Will.Litherland, Kennedy & Associates, APC, Attorneys at Law are members of the American Academy of Estate Planning Attorneys. If you would like to learn more about the importance of estate planning, we invite you to attend one of our free estate planning seminars. … [Read more...] about 4 Roles for a Will (Video)
Planning for the SECURE Act
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education,American Academy of Estate Planning Attorneys, Inc.The “Secure Act” was part of a larger law that passed with (rare) bipartisan support in late-December 2019. It is effective January 1, 2020, for most purposes. This is a series of articles on the Secure Act. The first article looked at the basics of the Secure Act. This second article examines planning strategies for dealing with the Secure Act.As laid out in the … [Read more...] about Planning for the SECURE Act
The Year 2020 (Video)
With the year 2020, if you abbreviate the year by only listing the last two numbers, then you are writing 20 – which then leaves your date subject to fraud. Someone could add two extra numbers after your 20 and make a drastically different date. Watch our video as Attorney Justin M. Kennedy explains why it's vital that you list the full year when you are writing the year 2020 on all legal and financial documents.https://youtu.be/raBVIzqFx1kLitherland, Kennedy & Associates, APC, … [Read more...] about The Year 2020 (Video)
The SECURE Act and What It Means for You
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education,American Academy of Estate Planning Attorneys, Inc.The “Secure Act” was part of a larger law that passed with (rare) bipartisan support in late-December 2019. It is effective January 1, 2020, for most purposes. This is a series of articles on the Secure Act. This first article looks at the basics of the Secure Act.What does it do?The Secure Act does many things, but here are a few of the biggest changes. First … [Read more...] about The SECURE Act and What It Means for You
Reasons an Estate Plan Could Be Challenged: Part 3 – Fraud
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education,American Academy of Estate Planning Attorneys, Inc.This week I’m sharing a blog from the office of Mike Wakshull, a forensic document examiner. I’ll be sharing blogs from Mike Wakshull in this space from time to time.Now, here’s the blog from Mike Wakshull:Blog Author: Mike Wakshull, MS, CQE, CISA, PMPYou see an unfamiliar signature on a will or trust that was allegedly signed by a deceased relative. You … [Read more...] about Reasons an Estate Plan Could Be Challenged: Part 3 – Fraud
