Estate planning can be a very complex process involving numerous strategies and tools. At its most basic, however, estate planning starts with the creation of a Last Will and Testament. People often make the mistake of assuming that they need to have a large estate with complicated assets in order to utilize the services of an estate planning attorney to create an estate plan. The truth, however, is that even the creation of a simple Will should be done with the assistance of a professional … [Read more...] about Does Your Law Firm Do Wills?
Thought for the Day:
“Whatever you are, be a good one.” Abraham Lincoln … [Read more...] about Thought for the Day:
How a Power of Attorney Terminates
A power of attorney, or POA, is a commonly used estate planning tool. Before you consider executing a POA, however, you should understand the power one confers as well as the various types of POAs available. In addition, you need to have a firm understanding of the circumstances under which a power of attorney terminates. A POA is a legal document that allows you, referred to as the “Principal”, to appoint an “Agent” who will have the legal authority to act on your behalf. The extent of the … [Read more...] about How a Power of Attorney Terminates
Thought for the Day:
“Life is to be enjoyed, not endured” Gordon B. Hinckley … [Read more...] about Thought for the Day:
Why Should I Have A Living Trust?
Just a few generations ago trusts were used primarily by very wealthy families as a way to pass down the family wealth while maintaining some degree of control over the money. Today, trusts can still accomplish that goal; however, they can also do much more. For this reason, even the average estate planner often includes at least one trust in his or her estate plan. For many people, they choose to include a living trust. To decide if a living trust might be a beneficial addition to your estate … [Read more...] about Why Should I Have A Living Trust?
Thought for the Day:
“And in the end it is not the years in your life that count, it's the life in your years.” Abraham Lincoln … [Read more...] about Thought for the Day:
Does Your Law Firm Assist with Probate?
At some point in your life there is a good chance you will be involved in the probate of someone’s estate. Whether you are involved merely because you are a beneficiary or heir, or are involved because you were appointed executor of the estate, you will likely be exposed to probate at some time in your life. If you are not familiar with the probate process, you may need legal advice in order to know how to proceed. This is particularly true if you were appointed executor in the decedent’s Last … [Read more...] about Does Your Law Firm Assist with Probate?
Thought for the Day:
“Happiness is not something ready-made. It comes from your own actions.” Dalai Lama XIV … [Read more...] about Thought for the Day:
What Is the Annual Gift Tax Exclusion?
A comprehensive estate plan typically incorporates a wide variety of estate planning strategies and tools. Many of those strategies and tools are aimed at reducing an estate’s exposure to gift and estate taxes. The overall key to reducing gift and estate taxes is to transfer as many assets as possible out of your estate prior to your death as possible. One way to accomplish this is to make use of the annual gift tax exclusion. Gift and estate taxes are potentially levied on the estate of a … [Read more...] about What Is the Annual Gift Tax Exclusion?
Thought for the Day:
“Yesterday is history, tomorrow is a mystery, today is a gift of God, which is why we call it the present.” Bil Keane … [Read more...] about Thought for the Day:
