The simple will is the most commonly used estate planning document, but a lot of people that use them overlook better options. In this post, we will provide an overview so you can make informed decisions when you are planning your estate. Asset Transfers and Guardian Designation The simple will … [Read more...] about Things You Need to Know About Simple Wills
If you are named as the executor of an estate, there are specific things that must be done after the passing of the decedent during the administration process. This would also apply to a family member that has to sort out an uncertain situation after the death of a relative. In this post, we will … [Read more...] about How Is a Probate Estate Settled?
Legacy planning is a more complete type of estate planning. When you consciously craft your legacy, you can take steps to have an impact after you are gone on multiple levels. Let’s look at the details. Legacy Wealth Planning If you have a significant store of wealth you will be passing along to … [Read more...] about Legacy Planning: What Is It and What You Need to Know
Many Estate Planning attorneys shy away from business succession planning, but if you approach it like you do any other asset, it’s not so scary! First, it’s important to understand that entities involve not just the business relationship, but family relationships as well. Often, businesses start … [Read more...] about Business Succession Planning May Be Easier than You Think
There is a legal process that enters the picture when you record your final wishes in a simple will. You name an executor to act as the administrator, and the will is admitted to probate after your passing. The probate court will supervise while the estate is being administered. Final debts are … [Read more...] about Is Every Inheritance Subject to Probate?
The federal estate tax can have a very significant impact on your legacy. It carries a 40 percent rate, and most people would say this is a very heavy dose of taxation. We are going to provide some information about the tax in this post, and we will highlight a change that will kick in when the … [Read more...] about Bloomberg Tax: Estate Tax Exclusion Will Rise Significantly in 2023