Hippo, Fleming & Pertile

Common estate planning errors do not just apply to those who do their own estate plans. Even those who pay thousands of dollars to create an estate plan can open the door to errors. Most Americans postpone updating their estate plans, especially with so much uncertainty in the air surrounding estate tax.

As a woman, you have spent countless hours working to create a high net worth. Unfortunately, the last thing on your mind is planning for how you will transfer ownership of your hard work to someone else if you were to pass away. Though it is hard to think about, female entrepreneurs need estate planning just as much as males to protect their assets and their loved ones.

You’ve taken the time to plan out your estate, but what about student loan debts? According to a study conducted by SmartMoney, one out of three consumers over the age of 40 is paying down student loans. Therefore, if you have student loan debt you need to include it with your estate plan.

Those in business or with significant wealth are concerned with protecting themselves and their assets in matters of tax, trust, and estate laws. Charitable Remainder Trusts Need Analysis - A charitable remainder trust, or CRT, needs to be carefully analyzed. There may be other planning alternatives that make more sense in certain situations.

When you begin the estate planning process, you will be approached with the terms “General Power of Attorney” and “Health Care Power of Attorney.” During estate planning it is highly important that you understand these terms thoroughly, since they can greatly impact your health and well-being during and your family after life.

You have worked years to establish your business and your livelihood. Upon your death you want to ensure that your business and the legacy behind it will be protected. You can do this with estate planning, but you have to ensure you follow the proper steps to not only protect your estate, but your family business.

When a person calls an estate planning attorney, they will likely ask for the cost of their services. Instead of getting an upfront price you are given a range of prices, but why does an estate planning attorney not offer upfront pricing?At first it may seem like the attorney is hiding something, but there are valid reasons as to why giving an upfront price is not an option for estate planning attorneys.