Baby Boomers: Inheritance Conversations with Your Children
Not talking to your adult children about their inheritance comes at a cost. Do what you can to manage expectations for adult children as they forge their financial plans. Knowing…
A Seniors Guide to Estate Planning
Most older adults acknowledge that estate planning is essential. Yet, nearly half of Americans age 55 or olderdo not have a will, and even fewer have designated powers of attorney,…
Should a POLST Be Part of Your Care Plan?
The American Hospital Association estimates that half of Americans suffer from chronic conditions like heart disease, diabetes, and cancer. Following a diagnosis, many experience concerns about the kind of care…
What to Know About Creating a Living Will
Creating a “living will” ensures your future health care decisions and plans are respected. A living will, or advance directive, is a legal document outlining medical treatment preferences and end-of-life…
2024 Annual Gift and Estate Tax Exemption Adjustments
With the arrival of the new year, revisions to the annual gift tax and estate tax exclusions will be going into effect, as recently announced by the Internal Revenue Service…
How Will the Sunset of the Increased Estate Tax Exemption Amount Affect Your Clients?
The estate tax exemption amount has more than doubled since 2017. However, unless Congress takes further action, the exemption amount authorized by the Tax Cuts and Jobs Act (TCJA) will…
Urban Institute: 400,000 Veterans Expected to be Uninsured in 2024
About 5 percent of non-elderly veterans — about 400,000 individuals — are projected to be uninsured in 2024, according to a new Urban Institute report. More than half, or 52.3…
6 Ways the Sandwich Generation Can Plan for The Future
Anyone experiencing the struggle of simultaneously caring for children and aging parents is part of the sandwich generation. Although “generation” is part of the phrase, it doesn’t refer to people…
Divorce Decree and Notes from Settlor Did Not Modify Irrevocable Trust
Ken and Sue Weeks created an irrevocable trust called the Agusta [sic] National Trust. Two pieces of real estate were deeded to the trust. One deed misspelled the name of…
What to Know About Probate: Estate Planning Basics
Most estate planning attorneys can help you craft an estate plan that minimizes or avoids probate altogether. Probate proceedings are part of the public record and can be very time-consuming…