Estate Planning

You're thinking of setting up an educational trust for your grandchildren. You know that you can put age limits on it, preventing the children from using it until they turn 18. You also know that you can limit it so that the money can only go toward their...

When your estate goes through probate, it gets divided among your heirs and other beneficiaries. This process is long and complicated for some people, while it is relatively easy and straightforward for others.What about a life insurance policy? It pays out when you...

If you are thinking of picking a guardian for your children as part of your estate planning process, you need to be aware that there are two different types. It is important to specify exactly what the guardian's role is intended to be and what powers he or she...

Trying to decide how to leave your company to your children? One option to consider may be the "charitable bailout," which is a creative way to transfer ownership and help save on taxes.The way it works is that you create a charitable remainder trust, and you put your...

Since an estate plan largely focuses on financial details, many people assume that it should be private. Just as it is not considered polite to ask someone how much they make in a year, family members do not want to pry into someone else's personal business. An...

You're 40 years old, in the middle of your life. You're married, you have two kids, and you have a good job. You recently bought your dream home in the suburbs. Life has played out exactly how you wanted it to, and you assume you have decades left to enjoy it.Is now...

You are trying to decide if it is wise to use a trust while doing your estate planning. You know how helpful they can be, but you just need to determine whether or not your specific situation means that you'll really enjoy all of the benefits.Do you own property in...

The sad passing of TV personality Anthony Bourdain has brought up some important estate planning questions that others may want to consider.Bourdain and his wife were still legally married when he died. They did not want to get a divorce, as they were focused on...

Estate planning is all about preparing for the future and making sure that your goals are met. However, good estate planning often takes time.If you're prepping for a session with your attorney, take a few moments and gather up what you'll need to make the process...

The Tax Cuts and Jobs Act of 2017 doubled the exemptions that apply to estate taxes. Federal estate taxes won't apply to individual estates unless their net worth exceeds $11.18 million. For couples, the exemption is $22 million. This means that nearly all Americans...