A Trust for Fluffy or Fido? Why Every Pet Parent Needs to Consider a Pet Trust Today
Estate planning is about protecting what is important to you. Although much of the traditional estate planning conversation focuses on surviving spouses, children, grandchildren, and charities, many pet parents wonder what could happen to their “furry children” after their death.
What Is a General Power of Appointment?
Your family, the economy, the law, and society can change rapidly and unexpectedly, affecting your best-laid estate plans in unpredictable ways. To achieve your estate planning goals, you need a plan that can keep up with the changes. What is a General Power of Appointment, how does it work and reasons to use it.
Don’t Let Your Estate Plan Go Up in Smoke
Fewer people are creating estate plans today than in years past. Every adult—whether they are 19 or 99—should have a will at a minimum. Many people can also benefit from estate planning documents such as trusts, powers of attorney, and advance directives. But even if you have created a comprehensive estate plan, it may no longer align with your objectives if it is not up to date.
Why Snow White’s Father Should Have Had an Estate Plan
Many of us are familiar with the story of Snow White and the seven dwarfs. Central to the story is the relationship between Snow White and her stepmother. While things were peaceful for a while, once the king passed away, the Queen’s true colors came to light. This fairy tale shows the conflict that can exist when the unifying member of the family dies without an estate plan.
Estate Planning Is About Knowing Your Priorities
Thinking about the world and how our loved ones will fare after we pass away can be very difficult. However, by proactively planning and prioritizing your goals, you can craft an estate plan that allows your wish to provide the best future for your loved ones to become a reality. The first step in creating an estate plan is to consider your priorities. Your goals and wishes will be unique to your circumstances, the needs of your loved ones, and your desires to support your favorite charities.
To the Millennials: The Time to Plan Is Now
As a millennial, you are contributing to the workforce in a major way and are making positive changes in the world around you. We understand that your concerns may differ from someone of a different generation, and we are here to help you craft an estate plan that protects your future and addresses the things that matter most to you.
Navigating the Fiscal Year 2025 Greenbook: Key Trust and Estate Tax Proposals
The U.S. Department of the Treasury has released its General Explanations of the Administration’s Fiscal Year 2025 Revenue Proposals. Commonly referred to as the Greenbook, this document lays out tax proposals that would support President Biden’s policy priorities if he is reelected to a second term.
Wrongful Death and Probate
Wrongful death lawsuits and probate proceedings are both civil legal matters that occur after somebody has died. While probate proceedings are fairly common when a person dies, very few deaths give rise to a wrongful death claim. However, wrongful death and probate can intersect if somebody dies due to another’s misconduct.
Corporate Transparency Act Update
Under the Corporate Transparency Act (CTA), which took effect January 1, 2024, many business entities including small limited liability companies (LLCs) and partnerships are required to file reports with the Treasury Department’s Financial Crime Enforcement Network (FinCEN). In these filings, applicable businesses must disclose important information about their entity. However, recent developments have called into question the constitutionality of these requirements.
What You Can Learn from the Leno Conservatorship Proceedings
When most people think about creating an estate plan, they usually focus on what will happen when they die. They typically do not consider what their wishes would be if they were alive but unable to manage their own affairs (in other words, if they are alive but incapacitated). Recently, comedian and late night talk show host Jay Leno had to seek court involvement to handle his and his wife’s estate planning needs due to his wife’s incapacity.
What You Need to Know About Self-Canceling Installment Notes
A self-canceling installment note (SCIN) is a promissory note that can be used to transfer valuable accounts and property from one person to another with minimal gift and estate tax consequences due to a clause in the promissory note that states the buyer’s obligation to repay the loan ends upon the death of the seller.
Lucille Ball: Dangers of Being the First to Die
Lucille Ball was the queen of television comedy to an older generation of Americans. Today, more than 70 years after I Love Lucy premiered, reruns still air on late-night networks. There are also real-life lessons to learn from Ball, including from a lesser-known episode involving her daughter and her widower’s second wife that provides important estate planning lessons about remarriage.