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thespectrum.com: “Discussions with parents or other family members regarding estate planning can at times be difficult, emotional and stressful. This discomfort, however, cannot compare to the financial pain felt by family members whose parents die without having implemented estate planning strategies. Relying upon state governments to decide the management and distribution of our [...] Investopedia: “Estate planning is more than simply having a will. It is a continuous planning process done to alleviate the financial impact of your death on those you leave behind. By spending just a few hours and dollars now, you can save your loved ones or beneficiaries from paying as much as a [...] Forbes has a great article called “Americans Lack Basic Estate Plans.” The story claims that despite the national attention given to the Terry Schiavo situation, most people do not have a living will, which is instructions to the healthcare providers that you do not want to be kept alive by artificial means if [...] Yahoo Finance: “Given the relatively low interest rates and transfer tax values, and some Uncle Sam-sanctioned planning techniques, there is a window of golden opportunity, according to Steve Leimberg, the publisher of Leimberg Information Services Inc. and author of “Tools and Techniques of Estate Planning.” The article discusses three estate planning concepts called tax basis [...] New York Times: “For many people, estate planning is both a private matter and a morbid topic — not something that parents and their adult children want to discuss. While having these conversations takes a lot of courage, they can help avoid surprises, lead to better financial planning and promote family harmony.” As an estate planning attorney, I often wonder and am asked what percentage of Americans have an estate plan? Law.com conducted a national survey that answers the question. Here are some of the findings of the survey: 35% have a will, down from 45% in 2007 Financial Planning: “When it comes to estate planning many advisors forget to talk about a client’s cars. . . . ‘This is an area people forget about when it comes to estate planning,’ says Kevin Transue, a certified financial planner with Heacock Financial, . . . . ‘The collectors don’t even tell their [...] mndnet: “Your estate plan can make your heirs’ lives easier. But it is your parents’ estate planning that will make your life easier. You or your siblings will probably have to settle the estate and potentially have to go to court to resolve matters. Good intentions don’t count if they aren’t documented legally. Coshocton Tribune: “Think of this as a legal bucket list to help your loved ones after you die. Here are 10 things to get done before you pass on to the hereafter. . . . [Funeral directors] will tell you that too often grieving families are faced with tough choices because their loved [...] New York Times: “TURNING down an inheritance may seem to be an alien concept. But with the estate tax in flux, this process, called disclaiming, can provide needed flexibility. People who disclaim are generally treated as if they had died before the person from whom they are inheriting. The assets then go to [...] Morningstar: “There’s a lot about the estate tax that’s up for grabs right now . . . . many aspects of estate planning are crucial . . . such as creating a living will, naming individuals to act on your behalf if you die or become disabled, and choosing beneficiaries of your investment [...] naplesnews.com: “It is time again to face year-end chores, including gathering income tax information and estate and gift tax plans. In previous years, a good start would be to first review assets: what is owned, how much is it worth, how is it owned and who gets it when you die? This year, [...] Minyanville: “You may have been naive about money during your first marriage. Not this time. Embarking on a second (or even a third) marriage? Financial experts are in unison on this one: Love may be lovelier the second time around, but don’t try to marry again without professional counsel. And keep your feet [...] Outlook Money: “t’s paramount that your wealth and assets reach your kids smoothly after you’re gone. Here’s how to ensure it.” Fox Business: “The Obama administration’s proposed budget calls for lots of changes that could affect your estate plans, and ignorance isn’t bliss — it’s foolhardy. Some of the proposals might become reality, some might get modified, and some may never see the light of day. Still, many experts have been sounding the alarm [...] The Trust Advisor Blog: “After a month of death tax confusion, The Trust Advisor checked in with key providers to see if business slacked off. Between the threat that Congress will retroactively de-repeal the currently repealed federal estate tax and the ongoing questions about what happens to the tax in 2011 and beyond, [...] Yuma Sun: “What would you want to leave behind for your family? If your choices were A) a contentious mess, or B) a well-coordinated estate plan, you would choose option B, right? All too many of us end up with option A. In fact, a recent national survey discovered that only 44 percent [...] Forbes: “Putting affairs in order before it’s too late is important. Celebrity stories can help spring clients into action. As professionals, one of the challenges that we have is motivating our clients to do their estate planning. You can educate clients about the proper estate planning and how it can help them, their [...] msSAnews.com: “A jury here decided Friday that Wells Fargo Bank and the Baker Botts law firm breached their fiduciary duties to Kathleen Cailloux in estate-related work in 1997, and set her damages at $65.5 million. . . . The dispute centered on an estate plan crafted in the wake of the January 1997 [...] Daily Finance: “At first blush, Casey Johnson and Ruth Lilly, who died within days of each other around the new year, could hardly have been more different. Johnson . . ., who died at 30, was a party animal who lived her life in the public eye, most recently as the fiancée of [...] naplesnews.com: “If your net worth is high enough to be subject to the evil estate tax, chances are you worked your tail off all or most of your adult life to accumulate your wealth. But draw your last breath and the estate tax monster wants to devour about half your wealth. Not a [...] NoozHawk: “Asking whether you need estate planning is a much bigger question than asking whether your estate will be taxed after you die because it’s small enough to be exempt from the estate tax law. Although the value of your estate is one of the first questions you must answer before proceeding, it’s more important [...] Financial Planning: “When it comes to estate planning, wealthy families don’t worry whether there will be enough money for the kids but whether the kids will be responsible enough to handle the money. Playing a role in preparing heirs is a key way for advisors to distinguish their businesses, be more visible among [...] New York Times: “DEATH and taxes, the adage goes, are the only certainties in life. But when it comes to the combination of the two, the estate tax, there is only uncertainty for 2010. Most tax advisers thought that Congress would extend the estate tax before it was due to expire at the [...] Oregonlive.com: “Plenty of gallows humor got bandied around when it became clear late last month that, amazingly, Congress was going to let the nation’s estate tax lapse. Whether any enfeebled people really were kept alive until 2010 to save their fortunes from taxation . . . . But the resulting vacuum has [...] The StarPhoenix: “Successful family gatherings are those in which family members know what not to say. Family restraint, after all, leads to civility. But in matters of estate and financial planning, silence and delay may not be golden. ‘You want [a conversation] when the parents are healthy and still able to articulate their own wishes [...] San Francisco Chronicle: “Astonishing just about everyone in the estate planning world, Congress let the estate tax expire in 2010. While people who support the death of the estate tax might be jumping for joy, its temporary expiration comes with side effects and unintended consequences that will perplex many people and leave some [...] CBSMoneyWatch.com: “At first glance, the failure of Congress to plug the 2010 estate tax loophole appears to be good news for children of ailing rich parents — and of little consequence to everyone else. But in fact, by letting the tax lapse, Congress has created a bunch of unintended consequences and increased the [...] The American Bar Association released a “Legal Guide for the Seriously Ill: Seven Key Steps to Get Your Affairs in Order.” The steps are: Plan How to Pay for the Health Care You Need Wall St. Journal: “Spouses of those wealthy who die next year might find themselves with nothing if the wills aren’t revised — another wrinkle of the impending repeal of the federal estate tax Friday. Starting Jan. 1, estate taxes will be repealed for 2010 only. That means unless Congress acts otherwise, there is [...] |
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