Estate Planning

Many of us have been lucky enough to acquire timeshares for the purposes of vacationing on our time off. Some of us would like to leave these assets to our loved ones. If you have a time share, you might be able to leave it to your heirs in a number of different ways. One way of leaving your timeshare…Read More

While the terms "estate tax" and "inheritance tax" are often used interchangeably, they are not synonymous. Let's try to clarify the difference. Estate Tax Estate tax is based on the net value of the deceased owner's property. An estate tax is applied to these assets when they are transferred to the beneficiary. It is important to remember that an estate…Read More

Can An Individual Residing Out Of State Act As My Executor? A last will and testament, commonly known as a will, is a document that instructs those left behind on the way in which a deceased individual would like his financial and personal matters to be administered. A well thought-out will specifies the distribution of assets and guardianship of minor…Read More

This question presents a fairly common issue posed to estate planning attorneys. The solution is also pretty easy to address in your will, trust and other estate planning documents, including any guardianship appointment for your minor children. First, its important to note that you should not delay establishing an estate plan pending the birth of a new child. In fact,…Read More

Before transferring your home to your children, there are several issues that should be considered. Some are tax-related issues and some are none-tax issues that can have grave consequences on your livelihood. The first thing to keep in mind is that the current federal estate tax exemption is currently over $5 million and thus it is likely that you may…Read More

Why do do-it-yourself estate planning tools often backfire? For an individual in need of a will, ads for self-service online tools such as LegalZoom are tempting. Instead of paying a trusts and estates attorney, why not just fill in the blanks yourself? Sadly, in many cases, the mistakes made in completing the forms without the advice of a lawyer can…Read More

Planning for long-term care is a vital component to proper estate planning, particularly if an individual or couple is anticipating financial hardship as a result of an extended stay in a nursing home. One of the most important distinctions between the Medicare and Medicaid programs is that while the latter provides coverage for long-term care, the former does not. Also…Read More

I Am Planning A Spring Wedding, Should I Consider An Estate Plan? If you were recently engaged over the holidays, it may well be time to consider updates and changes to your estate plan. As a matter of fact, if you are like the majority of adult Americans and are without an estate plan altogether – it is definitely time…Read More

There are several reasons that a will may prove invalid. It is important for testators to be aware of these pitfalls in order to avoid them. Improper Execution The requirements vary from state to state, but most states require a valid will to be witnessed by two people not named in the will. Some jurisdictions require the document to be…Read More

Will - a written document specifying a person’s wishes concerning his or her property distribution upon his or her death. In order to be enforced by a court of law, a will must be signed in accordance with the applicable wills act. Testator/Testatrix - the person who signs the will. Heirs - beneficiaries of an estate. Executor/Executrix - the individual given authority by the…Read More

Should I Appoint All Four Of My Children To Serve As Co-Executors? When a person dies, it becomes necessary to begin the estate administration process. For those dying with a Last Will and Testament, the terms of this document dictate not only the distribution of the estate, but the person(s) responsible for ensuring that all debts are paid, properties are…Read More