If you would like to learn more about revocable living trusts, attend one of our free living trust seminars: https://www.attorneyoffice.com/seminars/ … [Read more...] about Why Would I Want a Revocable Living Trust?
6 Important Estate Planning Considerations – Part 1: Incapacity
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is part of a series of 6 blogs on important estate planning considerations. I’ll intersperse these blogs with other timely blogs. Often, when people think of “estate planning” they think it’s a task only for the old, the rich, or the infirm. But, that simply is not true. Estate planning is something you do when you care, regardless of your age, wealth, or … [Read more...] about 6 Important Estate Planning Considerations – Part 1: Incapacity
Retirement is Complicated
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. Many factors go into retirement decisions. When should you retire? Where should you retire? Etc. Family and personal factors are perhaps the most important of these considerations. Where do your children, grandchildren, and friends live? Where do you have roots? What location has the weather and scenery you enjoy? How are you feeling? Financial issues are only one … [Read more...] about Retirement is Complicated
Go and See the World! Travel Tips for Seniors
by Dedra Jize, OT, CSA Geriatric Care Manager, Litherland, Kennedy & Associates, APC, Attorneys at Law “Aruba, Jamaica, oh I want to take you.” These lyrics to a popular song by the Beach Boys in the late 1980’s made us want to go and bask in the sun. Or maybe you’re a little bit country and Willie Nelson’s song, “On the Road Again” strikes a chord with you. Or perhaps “Route 66” by Chuck Berry made you want to jump in your car for a road trip across the country. However, work, family and … [Read more...] about Go and See the World! Travel Tips for Seniors
Age-Related Retirement Milestones
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. There are many milestones in retirement. Financial advisers might advise that you achieve certain financial benchmarks by specific ages or stages in your life. They might advise that you have a certain multiple of your salary by specific ages. Or, they might advise having a nest egg of a particular size before you retire. Here’s a retirement calculator that might help … [Read more...] about Age-Related Retirement Milestones
Treasury Releases New Inflation Adjustment
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. Estate planning attorneys and others in the wealth management community have known since mid-December that the amount clients can pass without taxation is now, temporarily, doubled. The new tax law doubled the exclusion until the end of 2025. On January 1, 2026, the exclusion reverts to $5 million (adjusted for inflation from 2011). Each year we get inflation … [Read more...] about Treasury Releases New Inflation Adjustment
Income Tax Basis in Estate Planning – Part 2
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. When considering different estate planning strategies and which direction to take, it’s important to consider the impact on basis. “Basis” is the benchmark used for income taxation. What does income tax basis have to do with estate planning? Property included in your taxable estate at your death gets a “step-up” in basis to its value at your death. (Certain … [Read more...] about Income Tax Basis in Estate Planning – Part 2
Consider Taking the Entire Family on Vacation
by Dedra Jize, OT, CSA Geriatric Care Manager, Litherland, Kennedy & Associates, APC, Attorneys at Law With summer approaching, you may be thinking of planning a summer vacation. There has been a shift to making these trips intergenerational; the grandchildren, parents and grandparents all go together. This can have advantages when there are young grandchildren who may need to ‘sit out’ on some of the experiences or need someone to watch them so their parents can have a night out, and can also … [Read more...] about Consider Taking the Entire Family on Vacation
Basis is Important in Estate Planning
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. When considering different estate planning strategies and which direction to take, it’s important to consider the impact on basis. “Basis” is the benchmark used for income taxation. What does income tax basis have to do with estate planning? Lots! Property included in your taxable estate at your death gets a “step-up” in basis to its value at your death. (Certain … [Read more...] about Basis is Important in Estate Planning
Estate Planning: Simple is not Always Better
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. Estate planning contemplates two different general time periods: During life and after your death. Estate planning needs also vary based on the goals you are trying to achieve. For example, after death, do you simply wish to transmit your assets, or do you wish to provide your loved ones with asset protection, tax protection, divorce protection, or other … [Read more...] about Estate Planning: Simple is not Always Better
