Estate Planning Lawyers in the USA
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- Top 12 Reasons Why You Need an Estate Plan
Many people think estate planning isnít for them, but the reality is that estate planning is for everyone. No matter how young you are or how little you own, everyone can benefit from an estate plan.
- Estate Planning: What About the Intellectual Property?
Despite good intentions, many people do not get serious about completing their estate planning and estate documents until late in life. Even when they do, they focus on which individuals will inherit the tangible assets Ė such as houses, land, money, jewelry, stock and other investments.
- Blended Families Need Estate Planning Too
Todayís family structure is much different than it was many years ago. A large number of families are now blended with married spouses and children from previous relationships. Blended families have more complex wealth planning considerations than others. This often requires special care and advance planning.
- How Stretch IRAs are Used as an Estate Planning Tool
Estate planning is essential for those with assets that the owner wants to leave behind or to extend into his or her later years, and some of these tools involve multiple items. The stretch IRA is a retirement planning tool that may be used best in estate planning for someone that is planning to ensure he or she lives well after entering retirement age.
- Paying Attention to Details in Your Estate Plan and Importance of an Estate Planning Lawyer
The estate plan is crucial to ensure either retirement is comfortable, or that heirs are taken care of after the estate owner has passed on, and the details are essential to providing for these eventualities. The estate planning lawyer is the main point of contact for documentation and implementation of the plan and keeping the steps followed after the person is no longer alive.
- Importance of Business Succession Planning at the Beginning
Business succession planning is the process of deciding what will happen to your business when you no longer are able to or desire to run it. While many people think of business succession planning when they are nearing the end of their career, it is important to consider business succession when the business is first established.
- ABLE Accounts for Families with Special Needs
Families who have children with special needs often try to plan ahead to anticipate the needs of the child with disabilities. It is often very costly to provide for the basic needs of a child in this situation. However, parents who take steps to try to safeguard resources for their disabled childís use may wind up causing a child to lose benefits. ABLE accounts may be able to fill in the gap for these families.
- Spouse in Long-Term Care and the Need to Update Estate Plan
There are certain times when individuals need to update their estate planning documents like their will, trust or power of attorney designations. Many individuals are familiar with common times, like when they get married or have children. However, another important time to update an estate plan is if a personís spouse has started to receive long-term care.
- Importance of Naming Contingent Beneficiaries in Estate Planning Documents
Beneficiaries may be named in a number of estate planning documents. A named beneficiary often helps assets to transfer outside the probate process, saving time and money in the process. Failing to name a beneficiary or contingent beneficiary can cause significant issues in an estate plan.
- Funding Revocable Trusts: Why It's Important
Funding a revocable trust is an important aspect of creating the trust and it being valid in the future. If the grantor fails to complete this necessary step, there may be lasting consequences.