Avoid Needing a Probate Attorney - Don't Die Without a Will!

While not the most pleasant topic to look forward to, making out a will can be very important. A will is a document stating who is to receive what, upon one's death. Intestacy is the will designed by the state. If you haven't decided whom you want to receive your estate, the legislature has tried to guess what you would have done.

How a Charitable Remainder Trust Avoids Capital Gains

Do you own a highly appreciated asset that produces little or no income? Are you selling your business? Are you highly compensated and looking to shelter more of your income? Put the charitable remainder trust in your list of options.

A Joint Tenancy Is Where Two Persons Co-Own A Property

A Joint Tenancy is where you and another person co-own or cohabitate the same property. Joint Tenancy also refers to where a married couple owns a home or property together. You might also want to know that a Joint Tenancy can have more than two people who own the property. The only stipulation to this is that no matter how many people own the property, they all own equal parts.

Independent Retirement Account - Defined, What Are The Options?

What is an Independent Retirement Account (aka IRA)? What are the factors in an inherited IRA from a spouse and a non-spouse? What happens when there is more than one qualified beneficiary named in a distribution? What happens when a non-qualified beneficiary is named in a distribution of an IRA?

What Are Living Trusts ?

A living trust is where you entrust certain properties and or funds to either one individual or group of people, using a trust you set up while you are living and in the right state of mind. The person or people become you beneficiaries and you can change your living trust at any point in time that is needed.

Protect, Provide & Profit - A Family Limited Partnership

Wealth builders are finding that this entity allows them to pass on their estate's equity, retain control of the properties, reduce tax rates and protect the assets from lawsuits. Its called a Family Limited Partnership.

Trusts - Trust Formation - Trustees Asset Protection - Trust Offshore Asset - Protection Inheritence

Trust an entity created for the purpose of protecting and conserving assets for the benefit of a third party, the beneficiary - A contract affecting three parties, the settler, the trustee and the beneficiary.

Estate - Surviving Your Estate

Recently I shared the heart-wrenching story of a young soldier who had to deal with the unexpected death of his mother. She didn't have her affairs in order and now her son has the extremely difficult task of recreating her financial details from scratch. Here are some simple steps you can take to ensure that your loved ones aren't left in a lurch.

Charitable Gift Annuity - Immediate, Deferred, College, Flexible Annuity

What is a Charitable Gift Annuity? Different types of Charitable Gift Annuities or annuity options: Immediate Annuity begin receiving payments immediately following final contribution date, Deferred Annuity allows donor to predetermine future date of payments, College Annuity for child's college fund, Flexible Annuity allows annuitant to decide start date of payments. American Council on Gift Annuities (ACGA) sets uniform gift annuity rates for use by charitable organizations. Example of Chartible Gift Annuity.

Estate - Don't Leave Loved Ones In A Lurch

Nothing brings home the importance of having our affairs in order than seeing the effects firsthand in your own family. My mother-in-law's recent death means my family is dealing with the realities of settling her affairs. Her advanced-planning greatly simplified the process. And it will for you, too.

Heirloom Antiques for the Comfort of Being Home

When you purchase a hand made or antique item today you are buying character and quality that adds to the beauty, comfort and gives you the feeling of being grounded, provides a conversation starter, and sense of being home. Leaving this item to your heirs becomes part of your legacy and intersects their history with yours, and provides a deeper connectedness and sense of home. Some advice on purchasing quality antique or art items that will add to your legacy.

Estate - Beyond The Living Will

Living wills have received a great deal of attention due to the recent Terry Schiavo situation. Because her end-of-life wishes were in dispute, family members battled each other in the courts over her treatment and care. By having a proper Living Will, you can avoid such confusion. But a Living Will doesn’t ensure you have all your bases covered. There are other equally important documents you must have in place.

Family Limited Partnership-Abusive Tax-Free Wealth Transfer

General Partners in family limited partnerships cause red flags for abusive tax-free wealth transfers. Describe how family limited partnerships work. Gifting to the younger generation as a tax deferral strategy can use two discount estate tax valuations of underlying assets up to 70%. Disadvantages of family limited partnerships do not receive stepped-up basis as bequeathed property. There are capital gains tax liability issues. General partners have no asset protection. Briefly discuss family succession estate planning for asset protection, wealth preservation, avoiding probate, defer capital gains, eliminate estate taxes, reduce income taxes- dispute resolution and control of family business matters.

The Three Main Causes Of Conflict In An Estate Settlement And What To Do About Them

Most attorneys believe that the majority of problems related to dividing an estate should be solved outside of the courtroom – in other words, prevented.

Preparing for the Inevitable

Preparing for the Inevitable