Tax and Estate Planning

Protecting Your Goals and Your Loved Ones Naming the beneficiaries of an insurance policy seems likes an easy thing to do. If a person is married, the spouse is the beneficiary. The children are often named as contingent beneficiaries. If a person is not married but has children, the children are often named as first beneficiaries. Usually, these are the people that … [Read more...] about Top 5 Mistakes When Naming Beneficiaries of Insurance Policies

Sample Case Study: Client in their mid 80’s with an estate of approximately $9,000,000. Children are three daughters in their early 60’s. Two of the three daughters have received substantial help (+/- $500,000 from the parents over the past 30 years). The third daughter has received little or no help as she has been financially successful and responsible. The … [Read more...] about Should You Distribute Your Estate Equally Among Children In Unequal Circumstances?

A revocable living trust is a valuable tool to protect and preserve your assets both for you, your children and future generations.  A living trust can help you avoid the unnecessary costs and delays associated with Probate and can help you minimize or avoid estate and inheritance taxes. Like any plan, your living trust should be reviewed periodically to ensure that it … [Read more...] about Is My Living Trust Obsolete?

What Is an Estate and What Planning Is Involved? It's important for you to understand what the word “estate” means so that you do not underestimate the broad scope of the term. The “estate” consists of all the property a person owns or controls. Examples of the more well-known items include personal property, real estate, bank accounts, insurance policies, business … [Read more...] about Estate Planning 101: An Introduction

Important Reasons to Review and Update Your Estate Plan Let’s assume you are among the approximately 30% of adults who have done the prudent thing and established your Estate Plan.  Perhaps you simply created a Will.  Have you had it professionally reviewed in recent years? Make sure your plan is still the most suitable for your current estate and goals? Alternatively, do … [Read more...] about Five Reasons to Update Your Estate Plan