22 Dec Do I Need an Estate Plan for My Digital Assets

Although estate planning has always had its complications, the digital age has added new twists. So much of our lives are now intertwined with our computers, cell phones, and tablets where we communicate and keep records of our assets as well as access to them. When we pass away, having a will may take care of certain property and interests, but what happens to our data on Facebook and Twitter? What about our Google accounts? Our emails? Our photographs? Our other documents stored in the cloud? Does a standard will account for these interests and issues?
Read More

16 Dec How to Make Your Inheritance Last

A 2012 study by Ohio State researcher Jay Zagorsky found that about one-third of Americans who receive an inheritance have negative savings within two years of getting their money, and of those who receive $100,000 or more, nearly one in five spend, donate, or simply lose it all. If you...

Read More

15 Dec Legacy Planning Scholarship Winner

Essay Topic: Imagine that you are 80 years old and you are only now planning your will.  What would you want your legacy to be? Write a letter from your ideal future self to your current self, explaining what you will accomplish over the next 10 years, how you will accomplish it, and what the continuing impact of those accomplishments will be after you are gone.
Read More

14 Dec What You Need to Know About Video Wills

You may have seen a video will presentation in a Hollywood movie or on television.  Unvaryingly, you saw the lazy, greedy and aloof family members gathered around in the office of the estate planning lawyer to watch the curmudgeonly, but very prosperous, family patriarch or matriarch onscreen systematically castigate the various heirs before leaving them peanuts and then announcing that the bulk of the estate goes to the much maligned and now very wealthy downstairs maid. It is all very entertaining, comedic and, unless there is a written and signed will, totally irrelevant. If you do not have a written will, the court will not accept the video and you will be considered intestate regarding assets not in a trust or otherwise validly disposed of in other instruments or accounts.
Read More

09 Dec Do I Need A Charitable Trust?

A charitable trust is an estate planning strategy that can provide tax savings for the donor, the charity, and the heirs, depending on the type of charitable trust that is created. Most charitable trusts are established by high net worth individuals who need to reduce the value of their estates to avoid or reduce estate taxes or who wish to avoid substantial capital gains taxes on appreciated property.
Read More

03 Dec 7 Estate Planning Tips from Entrepreneurs

If you are entrepreneur, you need more than a basic estate plan. Even if you don't own a business, some of the strategies that entrepreneurs use to protect their wealth can be useful to others as well. The following are 7 estate planning tips from entrepreneurs that you may want to discuss with your estate planning lawyer:
Read More

29 Nov Listen Up: 2016 Changes to State Death Taxes

In 2015, there are still 20 U.S. jurisdictions that collect a death tax at the state level: Connecticut, Delaware, District of Columbia, Hawaii, Illinois, Iowa, Kentucky, Maine, Maryland, Massachusetts, Minnesota, Nebraska, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Tennessee, Vermont, and Washington. Even if you don’t live in one...

Read More