You Can Have the Best of Both Worlds With Testamentary Trusts
There are various avenues to consider when crafting an estate plan. Some favor the flexibility offered by a revocable living trust, while others contend that a last will and testament (commonly referred to as a…
The Deceased Spousal Unused Exclusion Amount
Effective financial management, particularly for married couples, includes a crucial component: estate planning. A critical factor in this process is reducing estate taxes, as taxes can significantly impact the allocation of money and property to…
You Might Have an Estate Tax Issue Soon
In 2017, the Tax Cuts and Jobs Act (TCJA) substantially raised the federal estate tax exemption to $10 million. This designated sum allows you to gift assets to your loved ones, free from gift or…
Forever Fur Family: Including Your Pets in Estate Planning
For most of us, our pets become cherished members of the family. Yet, during estate planning, the needs of these beloved animals are sometimes overlooked. Including your pets in estate planning isn’t merely an act…
Should You Share Your Estate Planning Details With Loved Ones?
Deciding whether or not to share your estate planning details with loved ones depends highly on family dynamics. Most people choose to communicate at least a broad explanation with those involved. However, sharing more explicit…
Circumstances When Modifying an Irrevocable Trust Is Generally Acceptable
You may be under the impression that modifying an irrevocable trust is impossible. However, in certain circumstances, even irrevocable trusts can be modified. Factors like errors in the trust document, law changes, or unforeseen circumstances…
Benefits of a Trust Protector
Many individuals in the United States utilize trust protectors. In short, this is an individual appointed authority over a trust. Trust protectors ensure that trustees maintain the integrity of the trust, make good distribution and…
A Verdict Is Found in the Case of Aretha Franklin’s Two Wills
Aretha Franklin owned four homes at the date of her passing in 2018. The emergence of two handwritten wills several months after her death sparked a dispute between her sons. They disagreed on what their…
The Era of Estate Planning Considerations for Unmarried Couples
By Allison C. Gordon, Esq. “All they keep askin’ me is if I’m gonna be your bride…”-Taylor Swift, Lavender Haze More and more commonly, the answer is “no.” However, an increasing number of couples choose…
The Michael Oher Conservatorship Controversy
Michael Oher’s journey is an incredible story. He had a turbulent upbringing in foster care due to his mother’s struggles with addiction. Despite his difficult childhood, he became a football star at the University of…
The Corporate Transparency Act (CTA) Could Impact Your Estate Plan
Starting on January 1, 2024, the Corporate Transparency Act (CTA) will require certain business entities to file a report detailing the ownership of their entity. Lawmakers designed this new law to combat money laundering, tax…
Artificial Intelligence Programs Cannot Replace Estate Planning Attorneys
Artificial intelligence (AI) is becoming more commonly used in our daily lives. You may have wondered if AI can generate an estate plan for you. Although AI can produce some estate planning documents, there is…
November Newsletter – Give Thanks This Year with an Up-to-Date Estate Plan
Your Legacy: How Do You Want to Be Remembered? Amid the hustle and bustle of daily life, it’s common to delay matters such as securing an up-to-date estate plan. However, this November is an excellent…
Undoing a Revoked Will
Due to life circumstances changing, it may be necessary to modify estate planning documents. For example, you might decide to revoke your will due to the desire to change beneficiaries or reallocate assets. However, what…