Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys Every time you turn on the news, it seems like there is a new scam making headlines. By now, we’re all familiar with Bernie Madoff and his infamous Ponzi scheme. Many people have also heard about the “grandparent scam.” In this swindle, the scammer calls posing as the victim’s grandchild, claiming to be traveling in a foreign country and in distress. The scammer convinces the victim to wire them … [Read more...] about How to Avoid an Estate Planning Scam

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys Although considering the event of one’s own death can be uncomfortable, it’s imperative to start planning ahead and set up an estate plan that will guarantee security for your loved ones. Meeting with a qualified estate planning attorney will ensure you’re informed about the choices available to you, and help relieve some stress knowing your affairs will be in order after your death. For some, … [Read more...] about Common Estate Planning Terms You’ll Want To Know

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys When hiring an estate planning attorney, you expect this person to help you get all your ducks in a row. It is essential to work with a local attorney who will be able to set up a plan for you that is tailored to your particular concerns and needs. One specific area that requires attention when creating your plan is your service providers. What is a “service provider?” This covers a wide range of … [Read more...] about How to Include Service Providers in your Estate Plan

Loaning Family Money – What You Need To Know Written By: The American Academy of Estate Planning Attorneys People lend money to family members for a variety of reasons. For example, lending your son money to buy his first home, or lending your daughter money to start a new business. At some point, you may find yourself in a similar situation. Therefore, it is important to know how this will impact you from a tax standpoint. Are you charging the borrower interest on the loan? If so, you must … [Read more...] about Loaning Family Money – What You Need To Know

What Does it Mean to Leave a Legacy? Written By: The American Academy of Estate Planning Attorneys Every individual needs to create an effective estate plan describing their wishes as to the disposition of assets, care of minor children, and burial arrangements. However, even people who meticulously prepare their estate plans often overlook their personal property. When you create a Will or Trust, you can make specific provisions for distribution of items of personal property among your … [Read more...] about Include Personal Property When Creating Your Estate Plan

What Does it Mean to Leave a Legacy? Written By: The American Academy of Estate Planning Attorneys Leaving a legacy means more than providing an inheritance for your children. Too often, inheritances are squandered and forgotten. A legacy, on the other hand, means leaving behind not just financial security, but a sense of family history, belonging, and purpose, generation after generation. You’ve spent years diligently saving and carefully planning to build a nest egg, but how do you … [Read more...] about What Does it Mean to Leave a Legacy?

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys John and Susan have been married for 38 years. Like many couples, early in their marriage, they gravitated toward a division of labor that worked for them. John is an amateur chef, so he handles the grocery shopping, the meal planning, and the cooking. Susan loves the outdoors, so she takes care of the lawn and the garden. Susan, who is a neat freak, does much of the cleaning, while John keeps … [Read more...] about Cross-Training for Financial Fitness

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys A brand new baby brings a special kind of chaos to your home. In the midst of sleep deprivation, midnight feedings, and seemingly endless diaper changes, estate planning is likely the last thing on your mind. And yet, making an estate plan is a relatively simple task that can bring an immense sense of security to your growing family. Here are the basics: Guardianship Your first order of … [Read more...] about Peace of Mind for New Moms and Dads

A New Paradigm: Planning for State Estate Taxes   Not much more than a decade ago, taxpayers would flock to estate planning seminars to learn about ways to reduce or eliminate the federal estate tax. With the rise of the federal estate tax applicable exclusion amount (the amount that can pass free of estate tax) to $5,340,000 ($10,680,000 for married couples) in 2014, fewer than two out of every thousand deceased individuals will pay a federal estate tax.. Many more estates, however, … [Read more...] about A New Paradigm: Planning for State Estate Taxes

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys An effective estate plan is not just a stack of well-drafted documents, it’s an arrangement designed to take care of you and your family during the most challenging moments of your lives.  It takes a team of advisors to pull together all the details to be sure that your plan is ready to spring into action when you need it. Most people need these core players on their team: Experienced … [Read more...] about Estate Planning is a Team Effort