Dayton Daily News: “There are many reasons people cite for not filling out important documents like a will or papers dealing with medical decisions. First, there’s the fear of death . . . . Then there’s good old-fashioned procrastination . . . . None are good reasons . . . . Getting [...]
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Forbes: “Don’t trust the courts to follow your wishes–plan the distribution of your own assets. Many people believe that when they die, their personal belongings and all of their worldly possessions will automatically go to their next of kin–even if they don’t have a will. Unfortunately, they’re wrong. In fact, if an [...] New York Times: “In recent years there has been a surge in the number of people dying alone intestate — without a will — leaving the government to deal with what has been left behind. . . . ‘Baby boomers don’t think they’re going to die until they are 90,’ said Ms. [...] ProducersWeb: “Beginning in January and through the end of December of 2010, there is no Generation Skipping Transfer (GST) Tax, unless Congress changes the law in the meantime. The GST tax was part of the temporary repeal (one year) of the estate tax, which automatically expires at the end of 2010. Starting [...] Business & Finance: Part 1, “Leave Your Estate in the Right Hands.” Part 2, “Make Sure Your Plan Fits Your Unique Needs.” “The most important product of estate planning isn’t avoiding probate or reducing estate tax exposure, it’s achieving family harmony. As a result, we must watch out for personal [...] RGJ.com: “You need not be wealthy to benefit from estate planning. Many people dole out financial gifts in life but give little attention to how their assets will be divided when they die. A well-conceived estate plan can help ensure you and your heirs will enjoy the security of your assets. Yet [...] Toledo Free Press: “One of the biggest things that most of us procrastinate on is the dreaded task of creating a will or some other kind of estate plan. After all, we are all going to live forever right? . . . f you really think about it, should one really consider a do-it-yourself [...] Estate planning attorney Mark Cornwall article called “Planning Pays Off When Leaving Money to Children” discusses the common problem of sibling disputes after their parents are gone and how proper planning by the parents before death can go along way to preventing disputes from arising. He says: “when it comes [...] Thestarpress: “In the course of working with individuals on life insurance, retirement and estate planning, I routinely ask to review their personal legal documents to make sure that their wishes are accurately expressed in these documents. By personal legal documents, I am referring to their most recent Last Will and Testament, Living [...] Contractor Mag: “Theodore Roosevelt, the 26th president of the United States, said it: ‘In any moment of decision, the best thing you can do is the right thing. The next best thing is the wrong thing. And the worst thing you can do is nothing.’ This is the story of [...] Bargaineering.com: “the whole business of dying is all together unpleasant and one of the reasons why people avoid thinking and talking about it. Unfortunately, it’s also one of the biggest financial mistakes you can make for your family. . . . But unless you just don’t care about your family, making a [...] CNBC: “This story is about death and taxes—and estate planning. If you don’t make appropriate financial plans, loved ones could pay unnecessary taxes, miss an inheritance, or wind up in a permanent rift. So, no matter what your net worth, you’ll need more than just a will to manage your death [...] Gerry W. Beyer and Jessica B. Jackson have written an article entitled “What Estate Planners Need to Know About Firearms.” Here is the abstract: Estate planning professionals must familiarize themselves with national and state gun laws and use approved estate planning techniques to represent clients effectively who own or are [...] Forbes has an excellent article that discusses the problems caused by the current estate tax law and possible ways to deal with the uncertainty. NJToday.com: “It may be the subject matter – death, incapacity and taxes – that causes us to avoid estate planning. However, the fact is that, no matter what your age or how much wealth you’ve accumulated, you need an estate plan to protect yourself, your loved ones and your assets – both [...] The Spectrum.com: “If you are an owner of, or partner in, a business, you may have an additional layer of estate planning to consider – especially since the business may be your family’s largest asset. Selling your interest in your business to managers or partners through a buy-sell agreement -a document that [...] For people concerned about the uncertainty of federal estate tax law, NPR has a “There May Be A Tax Upside To Dying In 2010.” The Portland Press Herald: “The tales are legion, and usually involve bitter siblings and inexplicable attachments to objects. . . . The squabbling siblings who spent three years and $15,000 battling over a few hundred dollars worth of JC Penney and Kmart knickknacks. . . . Talk with enough estate planning attorneys [...] Professor Paul L. Caron of the University of Cincinnati College of Law has written an article called “Ten Estate Planning Advantages of Limited Liability Companies.” The abstract says: In the eight years since the Service blessed the Wyoming limited liability company (LLC) statute, there has been an explosion of interest [...] New York Times: “Business owners who do not form a succession plan create a time bomb that can not only destroy their companies but tear apart their families. ‘A lot of families fight and fight until the business is gone . . . It eats up everyone’s inheritances.’ Here are some suggestions [...] 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 [...] 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 [...] 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 [...] 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 [...] 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 [...] 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 18% have a trust, down from [...] 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 [...] 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 [...] 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 [...] 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 [...] |
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