Estate Planning
Estate Planning is the process of determining how your wealth and assets should be transferred to the heirs of your choice: your children, grandchildren, friends, families, charitable causes, etc. and then deciding which legal tools and structures to use to best meet your estate planning goals.
Estate planning is not simply reducing or eliminating taxes and avoiding probate. Only after establishing how you want your estate’s assets to be distributed should you consider ways to reduce taxes and avoid probate. From there, good estate plans deal with a host of other issues. Now, with all but a few estates exempt from the federal estate tax, those other issues are, or should be, at the forefront of estate planning.
An estate plan is to ensure that you are taken care of the rest of your life and that your wealth is transferred to the people you want to have it. A good estate plan ensures these goals are accomplished with as much efficiency and as little cost as possible. An estate plan addresses the management and distribution of an individual’s property and financial obligations after he or she dies with financial tools such as wills, revocable living trusts and power of attorney.
For a comprehensive overview of Estate Planning, please start with our article:
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How to Fill Gaps in Your Estate Planning
Most estate plans are deficient. Even wealthy people who consult with high-priced lawyers have key gaps in their plans. I’m not even talking about people who don’t bother to develop an estate plan. I’m considering only people who developed plans. Too many of them have plans that aren’t going to meet their goals, preserve their […]
Using Trusts to Secure Stretch IRAs
Trusts are a key part of many estate plans. You can run into trouble, however, when you try to couple a trust and an IRA. You can use a trust to make your IRA last longer and control your heirs’ access to it, but you need an experienced estate planner to navigate the minefield of […]
Finding Your Classic Estate Plan
Every estate is unique, but each estate can be put in a category with similar estates. Those similar estates are likely to have plans that share a number of common features. So, in this visit we present the classic categories and key elements of plans that fall into those categories. All estate plans. Every plan […]
Knowing How Much to Give Away and How to Give It to Optimize Estate Planning
Use it or lose it. That’s what many Estate Planning specialists are saying in the wake of the new estate and gift tax law enacted last December. You should act now, they say, to make large gifts and put other estate planning strategies in place. Give as much away as fast as you can. It’s […]
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May 2011
May 25, 2011 10:00 a.m. It’s Not All About Europe The stock indexes are set up for a fourth consecutive day of losses, and gold is trading at a multi-year high. The headlines say this is all caused by the latest episode in the long-running European debt crisis. That debt crisis certainly is a problem, […]
Reviewing Gift Tax Return Estate Planning Basics
Your estate may need to file gift tax returns even when gift taxes aren’t due. The IRS is cracking down on failures to file gift tax returns, with help from state databases. The IRS is checking state records of real estate transfers and matching those with gift tax returns, or the lack of them. Over […]
April 2011
April 29, 2011 08:00 p.m. A Turning Point in the Economy The economy is nearing a turning point, and few investors seem to realize it. We’ve been expecting it for a while and have our portfolios well-positioned for it. But as the point draws near, we’re becoming more cautious with the portfolios. The sell signals […]
The New Focus on Estate Planning Beyond Just Taxes
Estate Planning isn’t dead, not by a long shot. Traditionally, for many people estate planning means estate tax reduction. They figure if their estates aren’t going to be hit with federal estate taxes, they don’t need a plan. Now, with estates up to $5 million ($10 million for married couples) exempt from the federal estate […]
Asset Protection
Building a Legacy
Business Ownership and Succession
Digital Assets Estate Planning
Estate Planning Basics
Estate Planning Checklist
Estate Planning for Singles
Estate Planning Forms and Documents
Estate Planning Mistakes
Estate Planning Strategies
Estate Tax
Executors and Trustees
Family Limited Partnerships
Gifts and Gift Giving
Grandchildren
Heirs, Beneficiaries, and Children
IRAs & Your Estate
Power of Attorney
Probate
Trusts
Wills and Estate Planning
